SHAK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($93.13)
DCF	$36.48	-60.8%
Graham Number	$17.31	-81.4%
Reverse DCF	—	implied g: 43.0%
DDM	—	—
EV/EBITDA	$95.15	+2.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $29.68M

Near-term growth (yrs 1–5)(%)Rev: 21.9% / EPS: 28.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.55%

Computed WACC: 11.55%

Cost of equity (Re)14.01%(Rf 4.30% + β 1.77 × ERP 5.50%)

Cost of debt (Rd)0.87%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)81.51%

Debt weight (D/V)18.49%

Results

Intrinsic Value / share$19.71

Current Price$93.13

Upside / Downside-78.8%

Net Debt (used)$542.00M

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

WACC \ Near-term	20.7%	24.7%	28.7%	32.7%	36.7%
7.0%	$42.82	$52.44	$63.36	$75.69	$89.57
8.0%	$31.20	$38.77	$47.36	$57.05	$67.96
9.0%	$23.24	$29.40	$36.39	$44.28	$53.15
10.0%	$17.46	$22.61	$28.44	$35.02	$42.41
11.0%	$13.09	$17.47	$22.43	$28.02	$34.30

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.02

Book Value / share($)Yahoo: $13.05

Results

Graham Number$17.31

Current Price$93.13

Margin of Safety-81.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.55%

Terminal growth rate(%)

Computed WACC: 11.55%

Cost of equity (Re)14.01%(Rf 4.30% + β 1.77 × ERP 5.50%)

Cost of debt (Rd)0.87%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)81.51%

Debt weight (D/V)18.49%

Results

Current Price$93.13

Implied Near-term FCF Growth51.8%

Historical Revenue Growth21.9%

Historical Earnings Growth28.7%

Base FCF (TTM)$29.68M

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$93.13

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $174.36M

Target EV/EBITDA multipleCurrent: 25.1×

Net Debt($B)Default: $542.00M

Results

Implied Equity Value / share$95.15

Current Price$93.13

Upside / Downside+2.2%

Implied EV$4.37B

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

Mult \ Net Debt	-$1.46B	-$458.00M	$542.00M	$1.54B	$2.54B
21.1x	$127.51	$102.67	$77.83	$52.99	$28.14
23.1x	$136.18	$111.33	$86.49	$61.65	$36.81
25.1x	$144.84	$120.00	$95.15	$70.31	$45.47
27.1x	$153.50	$128.66	$103.82	$78.98	$54.13
29.1x	$162.17	$137.32	$112.48	$87.64	$62.80

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