SYNA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($81.51)
DCF	$112.40	+37.9%
Graham Number	—	—
Reverse DCF	—	implied g: 8.3%
DDM	—	—
EV/EBITDA	$81.51	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $169.50M

Near-term growth (yrs 1–5)(%)Rev: 13.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.65%

Computed WACC: 10.65%

Cost of equity (Re)13.60%(Rf 4.30% + β 1.69 × 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)78.28%

Debt weight (D/V)21.72%

Results

Intrinsic Value / share$85.12

Current Price$81.51

Upside / Downside+4.4%

Net Debt (used)$444.40M

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

WACC \ Near-term	5.2%	9.2%	13.2%	17.2%	21.2%
7.0%	$119.09	$144.07	$172.86	$205.88	$243.60
8.0%	$94.23	$114.14	$137.07	$163.34	$193.33
9.0%	$77.08	$93.51	$112.40	$134.04	$158.70
10.0%	$64.55	$78.45	$94.41	$112.66	$133.46
11.0%	$55.02	$66.98	$80.72	$96.41	$114.27

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.59

Book Value / share($)Yahoo: $35.75

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$81.51

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.65%

Terminal growth rate(%)

Computed WACC: 10.65%

Cost of equity (Re)13.60%(Rf 4.30% + β 1.69 × 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)78.28%

Debt weight (D/V)21.72%

Results

Current Price$81.51

Implied Near-term FCF Growth12.5%

Historical Revenue Growth13.2%

Historical Earnings Growth—

Base FCF (TTM)$169.50M

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$81.51

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $93.10M

Target EV/EBITDA multipleCurrent: 38.7×

Net Debt($B)Default: $444.40M

Results

Implied Equity Value / share$81.51

Current Price$81.51

Upside / Downside+0.0%

Implied EV$3.60B

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

Mult \ Net Debt	-$1.56B	-$555.60M	$444.40M	$1.44B	$2.44B
34.7x	$123.54	$97.72	$71.90	$46.08	$20.26
36.7x	$128.34	$102.52	$76.70	$50.88	$25.06
38.7x	$133.15	$107.33	$81.51	$55.69	$29.87
40.7x	$137.96	$112.14	$86.32	$60.50	$34.68
42.7x	$142.77	$116.95	$91.13	$65.31	$39.49

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