SCL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($50.51)
DCF	$64.40	+27.5%
Graham Number	$50.36	-0.3%
Reverse DCF	—	implied g: 45.7%
DDM	$32.55	-35.6%
EV/EBITDA	$50.92	+0.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $10.20M

Near-term growth (yrs 1–5)(%)Rev: 5.4% / EPS: 49.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.71%

Computed WACC: 7.71%

Cost of equity (Re)10.02%(Rf 4.30% + β 1.04 × ERP 5.50%)

Cost of debt (Rd)4.92%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)62.31%

Debt weight (D/V)37.69%

Results

Intrinsic Value / share$93.48

Current Price$50.51

Upside / Downside+85.1%

Net Debt (used)$558.35M

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

WACC \ Near-term	41.1%	45.1%	49.1%	53.1%	57.1%
7.0%	$83.12	$99.04	$116.80	$136.55	$158.46
8.0%	$59.54	$71.93	$85.74	$101.11	$118.15
9.0%	$43.45	$53.43	$64.56	$76.93	$90.65
10.0%	$31.84	$40.08	$49.27	$59.48	$70.81
11.0%	$23.11	$30.05	$37.78	$46.37	$55.90

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.05

Book Value / share($)Yahoo: $54.98

Results

Graham Number$50.36

Current Price$50.51

Margin of Safety-0.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.71%

Terminal growth rate(%)

Computed WACC: 7.71%

Cost of equity (Re)10.02%(Rf 4.30% + β 1.04 × ERP 5.50%)

Cost of debt (Rd)4.92%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)62.31%

Debt weight (D/V)37.69%

Results

Current Price$50.51

Implied Near-term FCF Growth40.4%

Historical Revenue Growth5.4%

Historical Earnings Growth49.1%

Base FCF (TTM)$10.20M

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: $1.58

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$32.55

Current Price$50.51

Upside / Downside-35.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $194.90M

Target EV/EBITDA multipleCurrent: 8.8×

Net Debt($B)Default: $558.35M

Results

Implied Equity Value / share$50.92

Current Price$50.51

Upside / Downside+0.8%

Implied EV$1.71B

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

Mult \ Net Debt	-$1.44B	-$441.65M	$558.35M	$1.56B	$2.56B
4.8x	$104.88	$60.67	$16.46	$-27.75	$-71.96
6.8x	$122.11	$77.90	$33.69	$-10.52	$-54.73
8.8x	$139.35	$95.13	$50.92	$6.71	$-37.50
10.8x	$156.58	$112.37	$68.16	$23.95	$-20.26
12.8x	$173.81	$129.60	$85.39	$41.18	$-3.03

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