SSNC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($75.19)
DCF	$79.59	+5.8%
Graham Number	$44.90	-40.3%
Reverse DCF	—	implied g: 7.4%
DDM	$22.25	-70.4%
EV/EBITDA	$74.64	-0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.27B

Near-term growth (yrs 1–5)(%)Rev: 8.1% / EPS: -22.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.95%

Computed WACC: 8.95%

Cost of equity (Re)10.71%(Rf 4.30% + β 1.17 × ERP 5.50%)

Cost of debt (Rd)6.04%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.47%

Debt weight (D/V)29.53%

Results

Intrinsic Value / share$80.29

Current Price$75.19

Upside / Downside+6.8%

Net Debt (used)$7.23B

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

WACC \ Near-term	0.1%	4.1%	8.1%	12.1%	16.1%
7.0%	$82.24	$104.41	$130.11	$159.75	$193.77
8.0%	$61.77	$79.55	$100.12	$123.83	$151.01
9.0%	$47.61	$62.36	$79.41	$99.03	$121.50
10.0%	$37.24	$49.78	$64.25	$80.89	$99.93
11.0%	$29.32	$40.17	$52.69	$67.06	$83.49

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.14

Book Value / share($)Yahoo: $28.53

Results

Graham Number$44.90

Current Price$75.19

Margin of Safety-40.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.95%

Terminal growth rate(%)

Computed WACC: 8.95%

Cost of equity (Re)10.71%(Rf 4.30% + β 1.17 × ERP 5.50%)

Cost of debt (Rd)6.04%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.47%

Debt weight (D/V)29.53%

Results

Current Price$75.19

Implied Near-term FCF Growth7.3%

Historical Revenue Growth8.1%

Historical Earnings Growth-22.1%

Base FCF (TTM)$1.27B

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$75.19

Upside / Downside-70.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.99B

Target EV/EBITDA multipleCurrent: 12.8×

Net Debt($B)Default: $7.23B

Results

Implied Equity Value / share$74.64

Current Price$75.19

Upside / Downside-0.7%

Implied EV$25.45B

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

Mult \ Net Debt	$3.23B	$5.23B	$7.23B	$9.23B	$11.23B
8.8x	$58.38	$50.18	$41.99	$33.79	$25.60
10.8x	$74.70	$66.51	$58.31	$50.12	$41.92
12.8x	$91.03	$82.83	$74.64	$66.44	$58.24
14.8x	$107.35	$99.16	$90.96	$82.77	$74.57
16.8x	$123.68	$115.48	$107.29	$99.09	$90.89

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