UHS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($206.42)
DCF	$1403.89	+580.1%
Graham Number	$248.85	+20.6%
Reverse DCF	—	implied g: 13.4%
DDM	$16.48	-92.0%
EV/EBITDA	$236.70	+14.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $565.25M

Near-term growth (yrs 1–5)(%)Rev: 9.1% / EPS: 42.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.78%

Computed WACC: 8.78%

Cost of equity (Re)11.28%(Rf 4.30% + β 1.27 × ERP 5.50%)

Cost of debt (Rd)3.37%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.94%

Debt weight (D/V)29.06%

Results

Intrinsic Value / share$1467.92

Current Price$206.42

Upside / Downside+611.1%

Net Debt (used)$5.03B

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

WACC \ Near-term	34.7%	38.7%	42.7%	46.7%	50.7%
7.0%	$1678.29	$1951.88	$2258.54	$2601.21	$2982.99
8.0%	$1296.40	$1509.93	$1749.21	$2016.50	$2314.23
9.0%	$1035.48	$1208.01	$1401.28	$1617.13	$1857.48
10.0%	$846.89	$989.81	$1149.87	$1328.57	$1527.50
11.0%	$704.91	$825.57	$960.64	$1111.41	$1279.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $23.10

Book Value / share($)Yahoo: $119.15

Results

Graham Number$248.85

Current Price$206.42

Margin of Safety+20.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.78%

Terminal growth rate(%)

Computed WACC: 8.78%

Cost of equity (Re)11.28%(Rf 4.30% + β 1.27 × ERP 5.50%)

Cost of debt (Rd)3.37%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.94%

Debt weight (D/V)29.06%

Results

Current Price$206.42

Implied Near-term FCF Growth12.7%

Historical Revenue Growth9.1%

Historical Earnings Growth42.7%

Base FCF (TTM)$565.25M

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: $0.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$16.48

Current Price$206.42

Upside / Downside-92.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.61B

Target EV/EBITDA multipleCurrent: 6.8×

Net Debt($B)Default: $5.03B

Results

Implied Equity Value / share$236.70

Current Price$206.42

Upside / Downside+14.7%

Implied EV$17.77B

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

Mult \ Net Debt	$3.03B	$4.03B	$5.03B	$6.03B	$7.03B
2.8x	$79.73	$61.15	$42.58	$24.00	$5.43
4.8x	$176.79	$158.21	$139.64	$121.06	$102.49
6.8x	$273.85	$255.27	$236.70	$218.12	$199.55
8.8x	$370.91	$352.33	$333.76	$315.18	$296.61
10.8x	$467.97	$449.39	$430.82	$412.24	$393.67

← Overview Financial Statements ← Companies