TCOM

TCOM — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($51.48)
DCF$72.07+40.0%
Graham Number$56.85+10.4%
Reverse DCF
DDM$6.18-88.0%
EV/EBITDA$54.17+5.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: —
Rev: 20.8% / EPS: 98.1%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$72.07
Current Price$51.48
Upside / Downside+40.0%
Net Debt (used)-$47.11B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term90.1%94.1%98.1%102.1%106.1%
7.0%$72.07$72.07$72.07$72.07$72.07
8.0%$72.07$72.07$72.07$72.07$72.07
9.0%$72.07$72.07$72.07$72.07$72.07
10.0%$72.07$72.07$72.07$72.07$72.07
11.0%$72.07$72.07$72.07$72.07$72.07

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $3.78
Yahoo: $38.00

Results

Graham Number$56.85
Current Price$51.48
Margin of Safety+10.4%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$51.48
Implied Near-term FCF Growth
Historical Revenue Growth20.8%
Historical Earnings Growth98.1%
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

Yahoo: $0.30

Results

DDM Intrinsic Value / share$6.18
Current Price$51.48
Upside / Downside-88.0%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $16.62B
Current: -0.7×
Default: -$47.11B

Results

Implied Equity Value / share$54.17
Current Price$51.48
Upside / Downside+5.2%
Implied EV-$11.70B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$71.11B-$59.11B-$47.11B-$35.11B-$23.11B
-4.7x$-10.83$-29.19$-47.55$-65.91$-84.27
-2.7x$40.03$21.67$3.31$-15.05$-33.41
-0.7x$90.89$72.53$54.17$35.81$17.45
1.3x$141.75$123.39$105.03$86.67$68.31
3.3x$192.61$174.25$155.89$137.53$119.17