STRA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($84.44)
DCF	$1908.65	+2160.4%
Graham Number	$89.74	+6.3%
Reverse DCF	—	implied g: 0.4%
DDM	$49.44	-41.4%
EV/EBITDA	$80.84	-4.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $145.53M

Near-term growth (yrs 1–5)(%)Rev: 3.8% / EPS: 58.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.01%

Computed WACC: 7.01%

Cost of equity (Re)7.39%(Rf 4.30% + β 0.56 × 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)94.87%

Debt weight (D/V)5.13%

Results

Intrinsic Value / share$3036.81

Current Price$84.44

Upside / Downside+3496.4%

Net Debt (used)-$38.93M

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

WACC \ Near-term	50.1%	54.1%	58.1%	62.1%	66.1%
7.0%	$2355.49	$2682.54	$3045.13	$3446.10	$3888.41
8.0%	$1832.48	$2086.10	$2367.25	$2678.09	$3020.95
9.0%	$1476.09	$1679.71	$1905.39	$2154.87	$2429.99
10.0%	$1219.28	$1386.89	$1572.61	$1777.89	$2004.24
11.0%	$1026.57	$1167.17	$1322.93	$1495.07	$1684.84

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.94

Book Value / share($)Yahoo: $72.45

Results

Graham Number$89.74

Current Price$84.44

Margin of Safety+6.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.01%

Terminal growth rate(%)

Computed WACC: 7.01%

Cost of equity (Re)7.39%(Rf 4.30% + β 0.56 × 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)94.87%

Debt weight (D/V)5.13%

Results

Current Price$84.44

Implied Near-term FCF Growth-5.2%

Historical Revenue Growth3.8%

Historical Earnings Growth58.1%

Base FCF (TTM)$145.53M

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: $2.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$49.44

Current Price$84.44

Upside / Downside-41.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $241.67M

Target EV/EBITDA multipleCurrent: 7.7×

Net Debt($B)Default: -$38.93M

Results

Implied Equity Value / share$80.84

Current Price$84.44

Upside / Downside-4.3%

Implied EV$1.86B

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

Mult \ Net Debt	-$2.04B	-$1.04B	-$38.93M	$961.07M	$1.96B
3.7x	$124.83	$82.26	$39.68	$-2.90	$-45.48
5.7x	$145.41	$102.83	$60.26	$17.68	$-24.90
7.7x	$165.99	$123.41	$80.84	$38.26	$-4.32
9.7x	$186.57	$143.99	$101.41	$58.84	$16.26
11.7x	$207.15	$164.57	$121.99	$79.42	$36.84

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