SSTK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($16.46)
DCF	$73.12	+344.2%
Graham Number	$21.45	+30.3%
Reverse DCF	—	implied g: -18.0%
DDM	$29.66	+80.2%
EV/EBITDA	$16.46	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $155.00M

Near-term growth (yrs 1–5)(%)Rev: -12.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.31%

Computed WACC: 7.31%

Cost of equity (Re)11.06%(Rf 4.30% + β 1.23 × 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)66.08%

Debt weight (D/V)33.92%

Results

Intrinsic Value / share$100.34

Current Price$16.46

Upside / Downside+509.6%

Net Debt (used)$122.09M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$73.77	$89.39	$107.55	$128.58	$152.79
8.0%	$60.04	$72.60	$87.20	$104.07	$123.49
9.0%	$50.52	$60.98	$73.12	$87.13	$103.23
10.0%	$43.53	$52.45	$62.79	$74.71	$88.39
11.0%	$38.18	$45.93	$54.90	$65.23	$77.07

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.25

Book Value / share($)Yahoo: $16.35

Results

Graham Number$21.45

Current Price$16.46

Margin of Safety+30.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.31%

Terminal growth rate(%)

Computed WACC: 7.31%

Cost of equity (Re)11.06%(Rf 4.30% + β 1.23 × 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)66.08%

Debt weight (D/V)33.92%

Results

Current Price$16.46

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-12.0%

Historical Earnings Growth—

Base FCF (TTM)$155.00M

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: $1.44

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$29.66

Current Price$16.46

Upside / Downside+80.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $168.25M

Target EV/EBITDA multipleCurrent: 4.2×

Net Debt($B)Default: $122.09M

Results

Implied Equity Value / share$16.46

Current Price$16.46

Upside / Downside-0.0%

Implied EV$707.17M

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

Mult \ Net Debt	-$1.88B	-$877.91M	$122.09M	$1.12B	$2.12B
0.2x	$53.79	$25.66	$-2.47	$-30.61	$-58.74
2.2x	$63.26	$35.12	$6.99	$-21.14	$-49.27
4.2x	$72.72	$44.59	$16.46	$-11.67	$-39.80
6.2x	$82.19	$54.06	$25.93	$-2.21	$-30.34
8.2x	$91.66	$63.52	$35.39	$7.26	$-20.87

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