SN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($120.59)
DCF	$-0.71	-100.6%
Graham Number	$41.56	-65.5%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$120.60	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 17.6% / EPS: 97.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.18%

Computed WACC: 11.18%

Cost of equity (Re)11.76%(Rf 4.30% + β 1.36 × 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)95.10%

Debt weight (D/V)4.90%

Results

Intrinsic Value / share$-0.71

Current Price$120.59

Upside / Downside-100.6%

Net Debt (used)$99.83M

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

WACC \ Near-term	89.8%	93.8%	97.8%	101.8%	105.8%
7.0%	$-0.71	$-0.71	$-0.71	$-0.71	$-0.71
8.0%	$-0.71	$-0.71	$-0.71	$-0.71	$-0.71
9.0%	$-0.71	$-0.71	$-0.71	$-0.71	$-0.71
10.0%	$-0.71	$-0.71	$-0.71	$-0.71	$-0.71
11.0%	$-0.71	$-0.71	$-0.71	$-0.71	$-0.71

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.05

Book Value / share($)Yahoo: $18.96

Results

Graham Number$41.56

Current Price$120.59

Margin of Safety-65.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.18%

Terminal growth rate(%)

Computed WACC: 11.18%

Cost of equity (Re)11.76%(Rf 4.30% + β 1.36 × 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)95.10%

Debt weight (D/V)4.90%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$120.59

Implied Near-term FCF Growth—

Historical Revenue Growth17.6%

Historical Earnings Growth97.8%

Base FCF (TTM)—

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$120.59

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.06B

Target EV/EBITDA multipleCurrent: 16.2×

Net Debt($B)Default: $99.83M

Results

Implied Equity Value / share$120.60

Current Price$120.59

Upside / Downside+0.0%

Implied EV$17.12B

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

Mult \ Net Debt	-$1.90B	-$900.17M	$99.83M	$1.10B	$2.10B
12.2x	$104.86	$97.78	$90.69	$83.61	$76.52
14.2x	$119.82	$112.73	$105.65	$98.56	$91.48
16.2x	$134.77	$127.69	$120.60	$113.52	$106.43
18.2x	$149.72	$142.64	$135.55	$128.47	$121.38
20.2x	$164.68	$157.59	$150.51	$143.42	$136.34

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