TLN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($353.24)
DCF	$7191.73	+1935.9%
Graham Number	$50.67	-85.7%
Reverse DCF	—	implied g: 7.6%
DDM	—	—
EV/EBITDA	$353.30	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.09B

Near-term growth (yrs 1–5)(%)Rev: 58.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.71%

Computed WACC: 10.71%

Cost of equity (Re)13.18%(Rf 4.30% + β 1.61 × ERP 5.50%)

Cost of debt (Rd)6.15%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.25%

Debt weight (D/V)29.75%

Results

Intrinsic Value / share$5203.00

Current Price$353.24

Upside / Downside+1372.9%

Net Debt (used)$6.14B

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

WACC \ Near-term	50.0%	54.0%	58.0%	62.0%	66.0%
7.0%	$8922.27	$10181.50	$11577.67	$13121.70	$14825.04
8.0%	$6909.95	$7886.48	$8969.04	$10166.06	$11486.40
9.0%	$5538.76	$6322.76	$7191.73	$8152.42	$9211.94
10.0%	$4550.67	$5196.00	$5911.15	$6701.65	$7573.32
11.0%	$3809.19	$4350.54	$4950.33	$5613.20	$6344.02

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.77

Book Value / share($)Yahoo: $23.92

Results

Graham Number$50.67

Current Price$353.24

Margin of Safety-85.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.71%

Terminal growth rate(%)

Computed WACC: 10.71%

Cost of equity (Re)13.18%(Rf 4.30% + β 1.61 × ERP 5.50%)

Cost of debt (Rd)6.15%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.25%

Debt weight (D/V)29.75%

Results

Current Price$353.24

Implied Near-term FCF Growth11.9%

Historical Revenue Growth58.0%

Historical Earnings Growth—

Base FCF (TTM)$1.09B

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$353.24

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $321.00M

Target EV/EBITDA multipleCurrent: 69.4×

Net Debt($B)Default: $6.14B

Results

Implied Equity Value / share$353.30

Current Price$353.24

Upside / Downside+0.0%

Implied EV$22.29B

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

Mult \ Net Debt	$2.14B	$4.14B	$6.14B	$8.14B	$10.14B
65.4x	$412.75	$368.97	$325.19	$281.42	$237.64
67.4x	$426.80	$383.02	$339.25	$295.47	$251.70
69.4x	$440.85	$397.07	$353.30	$309.52	$265.75
71.4x	$454.90	$411.13	$367.35	$323.57	$279.80
73.4x	$468.95	$425.18	$381.40	$337.63	$293.85

← Overview Financial Statements ← Companies