TM

TM — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($242.38)
DCF$-20458.59-8540.7%
Graham Number$88.81-63.4%
Reverse DCF
DDM$118.04-51.3%
EV/EBITDA$3206.92+1223.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$52.14B
Rev: 8.6% / EPS: -42.3%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-20458.59
Current Price$242.38
Upside / Downside-8540.7%
Net Debt (used)$25.54T
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term0.6%4.6%8.6%12.6%16.6%
7.0%$-20483.68$-20659.87$-20863.99$-21099.28$-21369.26
8.0%$-20319.68$-20460.86$-20624.20$-20812.28$-21027.87
9.0%$-20206.29$-20323.34$-20458.59$-20614.14$-20792.27
10.0%$-20123.26$-20222.70$-20337.45$-20469.29$-20620.10
11.0%$-20059.85$-20145.90$-20245.08$-20358.89$-20488.95

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $18.18
Yahoo: $19.28

Results

Graham Number$88.81
Current Price$242.38
Margin of Safety-63.4%
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$242.38
Implied Near-term FCF Growth
Historical Revenue Growth8.6%
Historical Earnings Growth-42.3%
Base FCF (TTM)-$52.14B
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: $5.73

Results

DDM Intrinsic Value / share$118.04
Current Price$242.38
Upside / Downside-51.3%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $6.20T
Current: 4.8×
Default: $25.54T

Results

Implied Equity Value / share$3206.92
Current Price$242.38
Upside / Downside+1223.1%
Implied EV$29.72T
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$12.77T$19.15T$25.54T$31.92T$38.30T
0.8x$-6039.54$-10937.52$-15835.51$-20733.49$-25631.48
2.8x$3481.67$-1416.31$-6314.30$-11212.28$-16110.26
4.8x$13002.88$8104.90$3206.92$-1691.07$-6589.05
6.8x$22524.10$17626.11$12728.13$7830.14$2932.16
8.8x$32045.31$27147.32$22249.34$17351.36$12453.37