TRIP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.98)
DCF	$25.12	+151.7%
Graham Number	$6.27	-37.2%
Reverse DCF	—	implied g: -9.0%
DDM	—	—
EV/EBITDA	$9.98	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $176.50M

Near-term growth (yrs 1–5)(%)Rev: 0.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.55%

Computed WACC: 4.55%

Cost of equity (Re)9.44%(Rf 4.30% + β 0.93 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

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

Equity weight (E/V)48.26%

Debt weight (D/V)51.74%

Results

Intrinsic Value / share$84.48

Current Price$9.98

Upside / Downside+746.5%

Net Debt (used)$216.00M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$25.35	$30.86	$37.27	$44.68	$53.22
8.0%	$20.51	$24.94	$30.09	$36.04	$42.89
9.0%	$17.15	$20.84	$25.12	$30.06	$35.74
10.0%	$14.68	$17.83	$21.48	$25.68	$30.51
11.0%	$12.80	$15.53	$18.70	$22.34	$26.51

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.31

Book Value / share($)Yahoo: $5.63

Results

Graham Number$6.27

Current Price$9.98

Margin of Safety-37.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.55%

Terminal growth rate(%)

Computed WACC: 4.55%

Cost of equity (Re)9.44%(Rf 4.30% + β 0.93 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

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

Equity weight (E/V)48.26%

Debt weight (D/V)51.74%

Results

Current Price$9.98

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth0.0%

Historical Earnings Growth—

Base FCF (TTM)$176.50M

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$9.98

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $147.00M

Target EV/EBITDA multipleCurrent: 9.3×

Net Debt($B)Default: $216.00M

Results

Implied Equity Value / share$9.98

Current Price$9.98

Upside / Downside-0.0%

Implied EV$1.36B

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

Mult \ Net Debt	-$1.78B	-$784.00M	$216.00M	$1.22B	$2.22B
5.3x	$22.28	$13.57	$4.86	$-3.86	$-12.57
7.3x	$24.85	$16.13	$7.42	$-1.30	$-10.01
9.3x	$27.41	$18.69	$9.98	$1.27	$-7.45
11.3x	$29.97	$21.26	$12.54	$3.83	$-4.89
13.3x	$32.53	$23.82	$15.10	$6.39	$-2.32

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