SPXC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($225.02)
DCF	$201.43	-10.5%
Graham Number	$68.88	-69.4%
Reverse DCF	—	implied g: 29.1%
DDM	—	—
EV/EBITDA	$225.21	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $165.28M

Near-term growth (yrs 1–5)(%)Rev: 19.4% / EPS: 27.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.93%

Computed WACC: 10.93%

Cost of equity (Re)11.49%(Rf 4.30% + β 1.31 × 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$145.99

Current Price$225.02

Upside / Downside-35.1%

Net Debt (used)$213.40M

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

WACC \ Near-term	19.1%	23.1%	27.1%	31.1%	35.1%
7.0%	$226.97	$266.97	$312.41	$363.83	$421.81
8.0%	$179.51	$211.02	$246.78	$287.24	$332.85
9.0%	$146.96	$172.64	$201.79	$234.74	$271.86
10.0%	$123.33	$144.79	$169.14	$196.65	$227.63
11.0%	$105.45	$123.73	$144.46	$167.87	$194.21

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.70

Book Value / share($)Yahoo: $44.87

Results

Graham Number$68.88

Current Price$225.02

Margin of Safety-69.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.93%

Terminal growth rate(%)

Computed WACC: 10.93%

Cost of equity (Re)11.49%(Rf 4.30% + β 1.31 × 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

Current Price$225.02

Implied Near-term FCF Growth35.2%

Historical Revenue Growth19.4%

Historical Earnings Growth27.1%

Base FCF (TTM)$165.28M

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$225.02

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $467.40M

Target EV/EBITDA multipleCurrent: 24.5×

Net Debt($B)Default: $213.40M

Results

Implied Equity Value / share$225.21

Current Price$225.02

Upside / Downside+0.1%

Implied EV$11.44B

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

Mult \ Net Debt	-$1.79B	-$786.60M	$213.40M	$1.21B	$2.21B
20.5x	$227.83	$207.76	$187.69	$167.63	$147.56
22.5x	$246.58	$226.52	$206.45	$186.39	$166.32
24.5x	$265.34	$245.27	$225.21	$205.14	$185.08
26.5x	$284.10	$264.03	$243.97	$223.90	$203.83
28.5x	$302.86	$282.79	$262.72	$242.66	$222.59

← Overview Financial Statements ← Companies