UBS

UBS — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($40.88)
DCF$2.24-94.5%
Graham Number$39.11-4.3%
Reverse DCF
DDM$22.66-44.6%
EV/EBITDA

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: —
Rev: 5.5% / EPS: 58.5%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$2.24
Current Price$40.88
Upside / Downside-94.5%
Net Debt (used)-$6.93B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term50.5%54.5%58.5%62.5%66.5%
7.0%$2.24$2.24$2.24$2.24$2.24
8.0%$2.24$2.24$2.24$2.24$2.24
9.0%$2.24$2.24$2.24$2.24$2.24
10.0%$2.24$2.24$2.24$2.24$2.24
11.0%$2.24$2.24$2.24$2.24$2.24

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $2.33
Yahoo: $29.18

Results

Graham Number$39.11
Current Price$40.88
Margin of Safety-4.3%
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$40.88
Implied Near-term FCF Growth
Historical Revenue Growth5.5%
Historical Earnings Growth58.5%
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

Yahoo: $1.10

Results

DDM Intrinsic Value / share$22.66
Current Price$40.88
Upside / Downside-44.6%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: —
Current: —×
Default: -$6.93B

Results

Implied Equity Value / share$2.24
Current Price$40.88
Upside / Downside-94.5%
Implied EV$0