SYY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($90.48)
DCF	$35.56	-60.7%
Graham Number	$19.95	-78.0%
Reverse DCF	—	implied g: 15.6%
DDM	$44.50	-50.8%
EV/EBITDA	$90.59	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.75B

Near-term growth (yrs 1–5)(%)Rev: 3.0% / EPS: -1.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.63%

Computed WACC: 5.63%

Cost of equity (Re)7.57%(Rf 4.30% + β 0.59 × 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)74.33%

Debt weight (D/V)25.67%

Results

Intrinsic Value / share$105.61

Current Price$90.48

Upside / Downside+16.7%

Net Debt (used)$13.74B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$36.12	$49.22	$64.47	$82.12	$102.44
8.0%	$24.58	$35.13	$47.39	$61.55	$77.85
9.0%	$16.59	$25.38	$35.56	$47.33	$60.84
10.0%	$10.73	$18.22	$26.90	$36.90	$48.39
11.0%	$6.23	$12.75	$20.27	$28.94	$38.88

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.71

Book Value / share($)Yahoo: $4.77

Results

Graham Number$19.95

Current Price$90.48

Margin of Safety-78.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.63%

Terminal growth rate(%)

Computed WACC: 5.63%

Cost of equity (Re)7.57%(Rf 4.30% + β 0.59 × 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)74.33%

Debt weight (D/V)25.67%

Results

Current Price$90.48

Implied Near-term FCF Growth3.2%

Historical Revenue Growth3.0%

Historical Earnings Growth-1.2%

Base FCF (TTM)$1.75B

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: $2.16

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$44.50

Current Price$90.48

Upside / Downside-50.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $4.52B

Target EV/EBITDA multipleCurrent: 12.6×

Net Debt($B)Default: $13.74B

Results

Implied Equity Value / share$90.59

Current Price$90.48

Upside / Downside+0.1%

Implied EV$57.13B

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

Mult \ Net Debt	$7.74B	$10.74B	$13.74B	$16.74B	$19.74B
8.6x	$65.40	$59.13	$52.87	$46.60	$40.34
10.6x	$84.26	$77.99	$71.73	$65.47	$59.20
12.6x	$103.12	$96.86	$90.59	$84.33	$78.07
14.6x	$121.98	$115.72	$109.46	$103.19	$96.93
16.6x	$140.85	$134.58	$128.32	$122.06	$115.79

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