STEL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($37.89)
DCF	$7.15	-81.1%
Graham Number	$38.31	+1.1%
Reverse DCF	—	—
DDM	$11.95	-68.5%
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: -3.1% / EPS: 9.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.27%

Computed WACC: 8.27%

Cost of equity (Re)8.53%(Rf 4.30% + β 0.77 × 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)96.96%

Debt weight (D/V)3.04%

Results

Intrinsic Value / share$7.15

Current Price$37.89

Upside / Downside-81.1%

Net Debt (used)-$362.93M

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

WACC \ Near-term	1.0%	5.0%	9.0%	13.0%	17.0%
7.0%	$7.15	$7.15	$7.15	$7.15	$7.15
8.0%	$7.15	$7.15	$7.15	$7.15	$7.15
9.0%	$7.15	$7.15	$7.15	$7.15	$7.15
10.0%	$7.15	$7.15	$7.15	$7.15	$7.15
11.0%	$7.15	$7.15	$7.15	$7.15	$7.15

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.99

Book Value / share($)Yahoo: $32.78

Results

Graham Number$38.31

Current Price$37.89

Margin of Safety+1.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.27%

Terminal growth rate(%)

Computed WACC: 8.27%

Cost of equity (Re)8.53%(Rf 4.30% + β 0.77 × 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)96.96%

Debt weight (D/V)3.04%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$37.89

Implied Near-term FCF Growth—

Historical Revenue Growth-3.1%

Historical Earnings Growth9.0%

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: $0.58

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$11.95

Current Price$37.89

Upside / Downside-68.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$362.93M

Results

Implied Equity Value / share$7.15

Current Price$37.89

Upside / Downside-81.1%

Implied EV$0

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