TDW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($79.87)
DCF	$133.53	+67.2%
Graham Number	$39.25	-50.9%
Reverse DCF	—	implied g: -3.3%
DDM	—	—
EV/EBITDA	$79.80	-0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $391.05M

Near-term growth (yrs 1–5)(%)Rev: 0.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.71%

Computed WACC: 7.71%

Cost of equity (Re)7.67%(Rf 4.30% + β 0.61 × ERP 5.50%)

Cost of debt (Rd)10.03%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)85.42%

Debt weight (D/V)14.58%

Results

Intrinsic Value / share$168.24

Current Price$79.87

Upside / Downside+110.6%

Net Debt (used)$247.29M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$134.72	$162.97	$195.84	$233.88	$277.69
8.0%	$109.86	$132.60	$159.01	$189.54	$224.67
9.0%	$92.63	$111.57	$133.53	$158.88	$188.01
10.0%	$79.99	$96.14	$114.85	$136.41	$161.17
11.0%	$70.30	$84.34	$100.57	$119.25	$140.67

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.97

Book Value / share($)Yahoo: $23.06

Results

Graham Number$39.25

Current Price$79.87

Margin of Safety-50.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.71%

Terminal growth rate(%)

Computed WACC: 7.71%

Cost of equity (Re)7.67%(Rf 4.30% + β 0.61 × ERP 5.50%)

Cost of debt (Rd)10.03%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)85.42%

Debt weight (D/V)14.58%

Results

Current Price$79.87

Implied Near-term FCF Growth-6.6%

Historical Revenue Growth0.2%

Historical Earnings Growth—

Base FCF (TTM)$391.05M

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$79.87

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $438.88M

Target EV/EBITDA multipleCurrent: 9.6×

Net Debt($B)Default: $247.29M

Results

Implied Equity Value / share$79.80

Current Price$79.87

Upside / Downside-0.1%

Implied EV$4.20B

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

Mult \ Net Debt	-$1.75B	-$752.71M	$247.29M	$1.25B	$2.25B
5.6x	$84.73	$64.55	$44.38	$24.20	$4.02
7.6x	$102.44	$82.26	$62.09	$41.91	$21.73
9.6x	$120.15	$99.97	$79.80	$59.62	$39.44
11.6x	$137.86	$117.68	$97.51	$77.33	$57.15
13.6x	$155.57	$135.39	$115.22	$95.04	$74.86

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