UVE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($36.35)
DCF	$-12029084847.23	-33092393077.2%
Graham Number	$44.03	+21.1%
Reverse DCF	—	—
DDM	$13.18	-63.7%
EV/EBITDA	$35.12	-3.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$39.45M

Near-term growth (yrs 1–5)(%)Rev: 6.0% / EPS: 994.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.86%

Computed WACC: 7.86%

Cost of equity (Re)8.13%(Rf 4.30% + β 0.70 × ERP 5.50%)

Cost of debt (Rd)6.37%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)91.11%

Debt weight (D/V)8.89%

Results

Intrinsic Value / share$-15991221093.47

Current Price$36.35

Upside / Downside-43992355240.2%

Net Debt (used)-$308.39M

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

WACC \ Near-term	986.3%	990.3%	994.3%	998.3%	1002.3%
7.0%	$-19698261398.97	$-20063609086.70	$-20434357719.70	$-20810566959.65	$-21192296905.96
8.0%	$-14852681125.43	$-15128156829.14	$-15407704897.83	$-15691370316.97	$-15979198402.10
9.0%	$-11590929155.24	$-11805908468.20	$-12024065826.14	$-12245436335.41	$-12470055359.93
10.0%	$-9271824799.76	$-9443791203.47	$-9618299791.02	$-9795378644.70	$-9975056052.83
11.0%	$-7556614878.67	$-7696768928.88	$-7838994879.94	$-7983315619.15	$-8129754201.74

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.38

Book Value / share($)Yahoo: $19.67

Results

Graham Number$44.03

Current Price$36.35

Margin of Safety+21.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.86%

Terminal growth rate(%)

Computed WACC: 7.86%

Cost of equity (Re)8.13%(Rf 4.30% + β 0.70 × ERP 5.50%)

Cost of debt (Rd)6.37%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)91.11%

Debt weight (D/V)8.89%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$36.35

Implied Near-term FCF Growth—

Historical Revenue Growth6.0%

Historical Earnings Growth994.3%

Base FCF (TTM)-$39.45M

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: $0.64

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$13.18

Current Price$36.35

Upside / Downside-63.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $255.94M

Target EV/EBITDA multipleCurrent: 2.6×

Net Debt($B)Default: -$308.39M

Results

Implied Equity Value / share$35.12

Current Price$36.35

Upside / Downside-3.4%

Implied EV$676.69M

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

Mult \ Net Debt	-$2.31B	-$1.31B	-$308.39M	$691.61M	$1.69B
-1.4x	$69.93	$34.27	$-1.38	$-37.03	$-72.68
0.6x	$88.17	$52.52	$16.87	$-18.78	$-54.43
2.6x	$106.42	$70.77	$35.12	$-0.53	$-36.18
4.6x	$124.67	$89.02	$53.37	$17.72	$-17.93
6.6x	$142.92	$107.27	$71.62	$35.97	$0.31

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