TW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($122.98)
DCF	$15.22	-87.6%
Graham Number	$51.04	-58.5%
Reverse DCF	—	—
DDM	$11.54	-90.6%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 12.5% / EPS: 128.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.67%

Computed WACC: 8.67%

Cost of equity (Re)8.72%(Rf 4.30% + β 0.80 × 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)99.45%

Debt weight (D/V)0.55%

Results

Intrinsic Value / share$15.22

Current Price$122.98

Upside / Downside-87.6%

Net Debt (used)-$1.76B

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

WACC \ Near-term	120.8%	124.8%	128.8%	132.8%	136.8%
7.0%	$15.22	$15.22	$15.22	$15.22	$15.22
8.0%	$15.22	$15.22	$15.22	$15.22	$15.22
9.0%	$15.22	$15.22	$15.22	$15.22	$15.22
10.0%	$15.22	$15.22	$15.22	$15.22	$15.22
11.0%	$15.22	$15.22	$15.22	$15.22	$15.22

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.78

Book Value / share($)Yahoo: $30.63

Results

Graham Number$51.04

Current Price$122.98

Margin of Safety-58.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.67%

Terminal growth rate(%)

Computed WACC: 8.67%

Cost of equity (Re)8.72%(Rf 4.30% + β 0.80 × 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)99.45%

Debt weight (D/V)0.55%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$122.98

Implied Near-term FCF Growth—

Historical Revenue Growth12.5%

Historical Earnings Growth128.8%

Base FCF (TTM)—

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: $0.56

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$11.54

Current Price$122.98

Upside / Downside-90.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$1.76B

Results

Implied Equity Value / share$15.22

Current Price$122.98

Upside / Downside-87.6%

Implied EV$0

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