TD

TD — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($97.36)
DCF$75.00-23.0%
Graham Number$101.02+3.8%
Reverse DCF
DDM$64.89-33.4%
EV/EBITDA

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: —
Rev: 21.1% / EPS: 51.3%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$75.00
Current Price$97.36
Upside / Downside-23.0%
Net Debt (used)-$125.77B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term43.3%47.3%51.3%55.3%59.3%
7.0%$75.00$75.00$75.00$75.00$75.00
8.0%$75.00$75.00$75.00$75.00$75.00
9.0%$75.00$75.00$75.00$75.00$75.00
10.0%$75.00$75.00$75.00$75.00$75.00
11.0%$75.00$75.00$75.00$75.00$75.00

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $8.45
Yahoo: $53.67

Results

Graham Number$101.02
Current Price$97.36
Margin of Safety+3.8%
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$97.36
Implied Near-term FCF Growth
Historical Revenue Growth21.1%
Historical Earnings Growth51.3%
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: $3.15

Results

DDM Intrinsic Value / share$64.89
Current Price$97.36
Upside / Downside-33.4%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: —
Current: —×
Default: -$125.77B

Results

Implied Equity Value / share$75.00
Current Price$97.36
Upside / Downside-23.0%
Implied EV$0