SRCE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($67.82)
DCF	$-8.63	-112.7%
Graham Number	$86.87	+28.1%
Reverse DCF	—	—
DDM	$32.96	-51.4%
EV/EBITDA	—	—

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: 16.8% / EPS: 31.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.32%

Computed WACC: 6.32%

Cost of equity (Re)7.64%(Rf 4.30% + β 0.61 × 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)82.72%

Debt weight (D/V)17.28%

Results

Intrinsic Value / share$-8.63

Current Price$67.82

Upside / Downside-112.7%

Net Debt (used)$209.95M

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

WACC \ Near-term	23.5%	27.5%	31.5%	35.5%	39.5%
7.0%	$-8.63	$-8.63	$-8.63	$-8.63	$-8.63
8.0%	$-8.63	$-8.63	$-8.63	$-8.63	$-8.63
9.0%	$-8.63	$-8.63	$-8.63	$-8.63	$-8.63
10.0%	$-8.63	$-8.63	$-8.63	$-8.63	$-8.63
11.0%	$-8.63	$-8.63	$-8.63	$-8.63	$-8.63

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $6.41

Book Value / share($)Yahoo: $52.32

Results

Graham Number$86.87

Current Price$67.82

Margin of Safety+28.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.32%

Terminal growth rate(%)

Computed WACC: 6.32%

Cost of equity (Re)7.64%(Rf 4.30% + β 0.61 × 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)82.72%

Debt weight (D/V)17.28%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$67.82

Implied Near-term FCF Growth—

Historical Revenue Growth16.8%

Historical Earnings Growth31.5%

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: $1.60

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$32.96

Current Price$67.82

Upside / Downside-51.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $209.95M

Results

Implied Equity Value / share$-8.63

Current Price$67.82

Upside / Downside-112.7%

Implied EV$0

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