SIRI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($21.73)
DCF	$19.03	-12.4%
Graham Number	$41.62	+91.6%
Reverse DCF	—	implied g: 5.9%
DDM	$22.25	+2.4%
EV/EBITDA	$21.94	+1.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $926.00M

Near-term growth (yrs 1–5)(%)Rev: 0.2% / EPS: -70.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.96%

Computed WACC: 3.96%

Cost of equity (Re)9.38%(Rf 4.30% + β 0.92 × 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)42.28%

Debt weight (D/V)57.72%

Results

Intrinsic Value / share$188.82

Current Price$21.73

Upside / Downside+769.1%

Net Debt (used)$9.89B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$19.44	$29.35	$40.87	$54.21	$69.57
8.0%	$10.73	$18.70	$27.96	$38.66	$50.98
9.0%	$4.69	$11.33	$19.03	$27.91	$38.12
10.0%	$0.25	$5.92	$12.48	$20.04	$28.71
11.0%	$-3.14	$1.78	$7.47	$14.02	$21.53

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.23

Book Value / share($)Yahoo: $34.52

Results

Graham Number$41.62

Current Price$21.73

Margin of Safety+91.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.96%

Terminal growth rate(%)

Computed WACC: 3.96%

Cost of equity (Re)9.38%(Rf 4.30% + β 0.92 × 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)42.28%

Debt weight (D/V)57.72%

Results

Current Price$21.73

Implied Near-term FCF Growth-14.9%

Historical Revenue Growth0.2%

Historical Earnings Growth-70.1%

Base FCF (TTM)$926.00M

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: $1.08

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$22.25

Current Price$21.73

Upside / Downside+2.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.45B

Target EV/EBITDA multipleCurrent: 7.0×

Net Debt($B)Default: $9.89B

Results

Implied Equity Value / share$21.94

Current Price$21.73

Upside / Downside+1.0%

Implied EV$17.23B

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

Mult \ Net Debt	$5.89B	$7.89B	$9.89B	$11.89B	$13.89B
3.0x	$4.66	$-1.31	$-7.29	$-13.26	$-19.24
5.0x	$19.27	$13.30	$7.32	$1.35	$-4.62
7.0x	$33.89	$27.91	$21.94	$15.96	$9.99
9.0x	$48.50	$42.52	$36.55	$30.58	$24.60
11.0x	$63.11	$57.14	$51.16	$45.19	$39.21

← Overview Financial Statements ← Companies