STAG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($39.47)
DCF	$499.93	+1166.6%
Graham Number	$24.87	-37.0%
Reverse DCF	—	implied g: 16.1%
DDM	$31.93	-19.1%
EV/EBITDA	$39.87	+1.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $324.05M

Near-term growth (yrs 1–5)(%)Rev: 10.8% / EPS: 57.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.00%

Computed WACC: 7.00%

Cost of equity (Re)9.99%(Rf 4.30% + β 1.03 × 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)70.04%

Debt weight (D/V)29.96%

Results

Intrinsic Value / share$807.92

Current Price$39.47

Upside / Downside+1946.9%

Net Debt (used)$3.26B

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

WACC \ Near-term	49.9%	53.9%	57.9%	61.9%	65.9%
7.0%	$620.77	$709.51	$807.92	$916.74	$1036.81
8.0%	$479.09	$547.91	$624.21	$708.59	$801.66
9.0%	$382.54	$437.80	$499.05	$566.77	$641.46
10.0%	$312.96	$358.45	$408.87	$464.59	$526.05
11.0%	$260.75	$298.91	$341.20	$387.93	$439.46

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.46

Book Value / share($)Yahoo: $18.82

Results

Graham Number$24.87

Current Price$39.47

Margin of Safety-37.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.00%

Terminal growth rate(%)

Computed WACC: 7.00%

Cost of equity (Re)9.99%(Rf 4.30% + β 1.03 × 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)70.04%

Debt weight (D/V)29.96%

Results

Current Price$39.47

Implied Near-term FCF Growth9.4%

Historical Revenue Growth10.8%

Historical Earnings Growth57.9%

Base FCF (TTM)$324.05M

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: $1.55

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$31.93

Current Price$39.47

Upside / Downside-19.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $617.09M

Target EV/EBITDA multipleCurrent: 17.6×

Net Debt($B)Default: $3.26B

Results

Implied Equity Value / share$39.87

Current Price$39.47

Upside / Downside+1.0%

Implied EV$10.88B

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

Mult \ Net Debt	$1.26B	$2.26B	$3.26B	$4.26B	$5.26B
13.6x	$37.41	$32.18	$26.94	$21.71	$16.48
15.6x	$43.87	$38.64	$33.40	$28.17	$22.94
17.6x	$50.33	$45.10	$39.87	$34.63	$29.40
19.6x	$56.79	$51.56	$46.33	$41.09	$35.86
21.6x	$63.26	$58.02	$52.79	$47.55	$42.32

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