SFM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($73.99)
DCF	$198.30	+168.0%
Graham Number	$41.80	-43.5%
Reverse DCF	—	implied g: 3.6%
DDM	—	—
EV/EBITDA	$73.99	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $536.19M

Near-term growth (yrs 1–5)(%)Rev: 7.6% / EPS: 18.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.42%

Computed WACC: 6.42%

Cost of equity (Re)8.15%(Rf 4.30% + β 0.70 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

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

Equity weight (E/V)78.76%

Debt weight (D/V)21.24%

Results

Intrinsic Value / share$361.39

Current Price$73.99

Upside / Downside+388.4%

Net Debt (used)$1.69B

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

WACC \ Near-term	10.4%	14.4%	18.4%	22.4%	26.4%
7.0%	$215.76	$258.82	$308.17	$364.47	$428.46
8.0%	$169.81	$203.96	$243.07	$287.66	$338.30
9.0%	$138.18	$166.22	$198.30	$234.85	$276.33
10.0%	$115.15	$138.74	$165.72	$196.42	$231.25
11.0%	$97.66	$117.89	$140.99	$167.28	$197.07

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.31

Book Value / share($)Yahoo: $14.63

Results

Graham Number$41.80

Current Price$73.99

Margin of Safety-43.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.42%

Terminal growth rate(%)

Computed WACC: 6.42%

Cost of equity (Re)8.15%(Rf 4.30% + β 0.70 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

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

Equity weight (E/V)78.76%

Debt weight (D/V)21.24%

Results

Current Price$73.99

Implied Near-term FCF Growth-4.2%

Historical Revenue Growth7.6%

Historical Earnings Growth18.4%

Base FCF (TTM)$536.19M

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$73.99

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $843.88M

Target EV/EBITDA multipleCurrent: 10.3×

Net Debt($B)Default: $1.69B

Results

Implied Equity Value / share$73.99

Current Price$73.99

Upside / Downside-0.0%

Implied EV$8.68B

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

Mult \ Net Debt	$1.69B	$1.69B	$1.69B	$1.69B	$1.69B
6.3x	$38.30	$38.30	$38.30	$38.30	$38.30
8.3x	$56.14	$56.14	$56.14	$56.14	$56.14
10.3x	$73.99	$73.99	$73.99	$73.99	$73.99
12.3x	$91.83	$91.83	$91.83	$91.83	$91.83
14.3x	$109.68	$109.68	$109.68	$109.68	$109.68

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