SGU — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.00)
DCF	$25.05	+92.7%
Graham Number	$20.77	+59.8%
Reverse DCF	—	implied g: 6.3%
DDM	$15.24	+17.3%
EV/EBITDA	$12.80	-1.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $40.29M

Near-term growth (yrs 1–5)(%)Rev: 10.5% / EPS: 13.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.29%

Computed WACC: 3.29%

Cost of equity (Re)6.03%(Rf 4.30% + β 0.32 × 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)54.53%

Debt weight (D/V)45.47%

Results

Intrinsic Value / share$309.87

Current Price$13.00

Upside / Downside+2283.6%

Net Debt (used)$336.57M

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

WACC \ Near-term	5.5%	9.5%	13.5%	17.5%	21.5%
7.0%	$27.08	$34.21	$42.42	$51.83	$62.58
8.0%	$19.96	$25.64	$32.17	$39.66	$48.20
9.0%	$15.05	$19.73	$25.11	$31.28	$38.30
10.0%	$11.46	$15.42	$19.96	$25.16	$31.08
11.0%	$8.73	$12.14	$16.05	$20.51	$25.60

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.92

Book Value / share($)Yahoo: $9.98

Results

Graham Number$20.77

Current Price$13.00

Margin of Safety+59.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.29%

Terminal growth rate(%)

Computed WACC: 3.29%

Cost of equity (Re)6.03%(Rf 4.30% + β 0.32 × 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)54.53%

Debt weight (D/V)45.47%

Results

Current Price$13.00

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth10.5%

Historical Earnings Growth13.5%

Base FCF (TTM)$40.29M

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: $0.74

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$15.24

Current Price$13.00

Upside / Downside+17.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $150.58M

Target EV/EBITDA multipleCurrent: 5.0×

Net Debt($B)Default: $336.57M

Results

Implied Equity Value / share$12.80

Current Price$13.00

Upside / Downside-1.5%

Implied EV$757.40M

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

Mult \ Net Debt	-$1.66B	-$663.43M	$336.57M	$1.34B	$2.34B
1.0x	$55.31	$24.90	$-5.52	$-35.93	$-66.35
3.0x	$64.47	$34.05	$3.64	$-26.77	$-57.19
5.0x	$73.63	$43.21	$12.80	$-17.62	$-48.03
7.0x	$82.79	$52.37	$21.96	$-8.46	$-38.87
9.0x	$91.95	$61.53	$31.12	$0.70	$-29.71

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