USAC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($27.75)
DCF	$70.26	+153.2%
Graham Number	—	—
Reverse DCF	—	implied g: 10.7%
DDM	$43.26	+55.9%
EV/EBITDA	$28.26	+1.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $267.70M

Near-term growth (yrs 1–5)(%)Rev: 2.7% / EPS: 22.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.29%

Computed WACC: 3.29%

Cost of equity (Re)5.37%(Rf 4.30% + β 0.20 × 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)61.30%

Debt weight (D/V)38.70%

Results

Intrinsic Value / share$831.64

Current Price$27.75

Upside / Downside+2896.9%

Net Debt (used)$2.53B

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

WACC \ Near-term	14.3%	18.3%	22.3%	26.3%	30.3%
7.0%	$79.20	$96.52	$116.29	$138.76	$164.21
8.0%	$59.78	$73.48	$89.09	$106.83	$126.91
9.0%	$46.44	$57.65	$70.42	$84.91	$101.31
10.0%	$36.74	$46.14	$56.84	$68.98	$82.71
11.0%	$29.39	$37.42	$46.56	$56.92	$68.63

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.85

Book Value / share($)Yahoo: $-0.89

Results

Graham Number requires positive EPS and positive Book Value per share. BVPS is zero or negative.

Graham Number—

Current Price$27.75

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.29%

Terminal growth rate(%)

Computed WACC: 3.29%

Cost of equity (Re)5.37%(Rf 4.30% + β 0.20 × 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)61.30%

Debt weight (D/V)38.70%

Results

Current Price$27.75

Implied Near-term FCF Growth-18.5%

Historical Revenue Growth2.7%

Historical Earnings Growth22.3%

Base FCF (TTM)$267.70M

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: $2.10

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$43.26

Current Price$27.75

Upside / Downside+55.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $607.41M

Target EV/EBITDA multipleCurrent: 10.9×

Net Debt($B)Default: $2.53B

Results

Implied Equity Value / share$28.26

Current Price$27.75

Upside / Downside+1.8%

Implied EV$6.63B

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

Mult \ Net Debt	$531.65M	$1.53B	$2.53B	$3.53B	$4.53B
6.9x	$25.29	$18.39	$11.50	$4.60	$-2.30
8.9x	$33.67	$26.77	$19.88	$12.98	$6.08
10.9x	$42.05	$35.15	$28.26	$21.36	$14.46
12.9x	$50.43	$43.53	$36.64	$29.74	$22.84
14.9x	$58.81	$51.91	$45.02	$38.12	$31.22

← Overview Financial Statements ← Companies