TDY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($688.59)
DCF	$1703.09	+147.3%
Graham Number	$310.89	-54.9%
Reverse DCF	—	implied g: 23.1%
DDM	—	—
EV/EBITDA	$688.59	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $686.29M

Near-term growth (yrs 1–5)(%)Rev: 7.3% / EPS: 39.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.27%

Computed WACC: 9.27%

Cost of equity (Re)9.88%(Rf 4.30% + β 1.01 × ERP 5.50%)

Cost of debt (Rd)2.33%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)92.45%

Debt weight (D/V)7.55%

Results

Intrinsic Value / share$1618.37

Current Price$688.59

Upside / Downside+135.0%

Net Debt (used)$2.29B

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

WACC \ Near-term	31.1%	35.1%	39.1%	43.1%	47.1%
7.0%	$2008.21	$2334.25	$2700.77	$3111.44	$3570.15
8.0%	$1568.62	$1823.53	$2110.00	$2430.87	$2789.18
9.0%	$1268.05	$1474.38	$1706.16	$1965.70	$2255.43
10.0%	$1050.63	$1221.85	$1414.11	$1629.34	$1869.53
11.0%	$886.80	$1031.59	$1194.12	$1375.99	$1578.90

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $18.87

Book Value / share($)Yahoo: $227.65

Results

Graham Number$310.89

Current Price$688.59

Margin of Safety-54.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.27%

Terminal growth rate(%)

Computed WACC: 9.27%

Cost of equity (Re)9.88%(Rf 4.30% + β 1.01 × ERP 5.50%)

Cost of debt (Rd)2.33%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)92.45%

Debt weight (D/V)7.55%

Results

Current Price$688.59

Implied Near-term FCF Growth24.0%

Historical Revenue Growth7.3%

Historical Earnings Growth39.1%

Base FCF (TTM)$686.29M

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$688.59

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.50B

Target EV/EBITDA multipleCurrent: 22.8×

Net Debt($B)Default: $2.29B

Results

Implied Equity Value / share$688.59

Current Price$688.59

Upside / Downside-0.0%

Implied EV$34.18B

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

Mult \ Net Debt	$289.70M	$1.29B	$2.29B	$3.29B	$4.29B
18.8x	$602.46	$580.87	$559.27	$537.68	$516.08
20.8x	$667.12	$645.53	$623.93	$602.34	$580.74
22.8x	$731.78	$710.18	$688.59	$666.99	$645.40
24.8x	$796.44	$774.84	$753.25	$731.65	$710.05
26.8x	$861.10	$839.50	$817.90	$796.31	$774.71

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