SCI — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($84.18)
DCF	$29.29	-65.2%
Graham Number	$31.67	-62.4%
Reverse DCF	—	implied g: 19.5%
DDM	$28.02	-66.7%
EV/EBITDA	$84.18	+0.0%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $410.34M

Near-term growth (yrs 1–5)(%)Rev: 1.7% / EPS: 8.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.08%

Computed WACC: 8.08%

Cost of equity (Re)9.87%(Rf 4.30% + β 1.01 × ERP 5.50%)

Cost of debt (Rd)5.12%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)69.34%

Debt weight (D/V)30.66%

Results

Intrinsic Value / share$40.71

Current Price$84.18

Upside / Downside-51.6%

Net Debt (used)$4.97B

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	0.9%	4.9%	8.9%	12.9%	16.9%
7.0%	$31.40	$44.63	$59.95	$77.61	$97.87
8.0%	$19.02	$29.62	$41.88	$55.99	$72.16
9.0%	$10.47	$19.25	$29.40	$41.06	$54.42
10.0%	$4.20	$11.66	$20.27	$30.15	$41.45
11.0%	$-0.58	$5.87	$13.31	$21.84	$31.58

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $3.80

Book Value / share($)Yahoo: $11.73

Results

Graham Number$31.67

Current Price$84.18

Margin of Safety-62.4%

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.08%

Terminal growth rate(%)

Computed WACC: 8.08%

Cost of equity (Re)9.87%(Rf 4.30% + β 1.01 × ERP 5.50%)

Cost of debt (Rd)5.12%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)69.34%

Debt weight (D/V)30.66%

Results

Current Price$84.18

Implied Near-term FCF Growth16.6%

Historical Revenue Growth1.7%

Historical Earnings Growth8.9%

Base FCF (TTM)$410.34M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: $1.36

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$28.02

Current Price$84.18

Upside / Downside-66.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.32B

Target EV/EBITDA multipleCurrent: 12.6×

Net Debt($B)Default: $4.97B

Results

Implied Equity Value / share$84.18

Current Price$84.18

Upside / Downside+0.0%

Implied EV$16.69B

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	$2.97B	$3.97B	$4.97B	$5.97B	$6.97B
8.6x	$60.62	$53.44	$46.26	$39.08	$31.89
10.6x	$79.59	$72.40	$65.22	$58.04	$50.86
12.6x	$98.55	$91.37	$84.18	$77.00	$69.82
14.6x	$117.51	$110.33	$103.15	$95.97	$88.78
16.6x	$136.48	$129.29	$122.11	$114.93	$107.75

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