VEEV — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($181.45)
DCF	$371.89	+105.0%
Graham Number	$70.39	-61.2%
Reverse DCF	—	implied g: 9.0%
DDM	—	—
EV/EBITDA	$181.45	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.05B

Near-term growth (yrs 1–5)(%)Rev: 16.0% / EPS: 23.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.44%

Computed WACC: 10.44%

Cost of equity (Re)10.47%(Rf 4.30% + β 1.12 × 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)99.70%

Debt weight (D/V)0.30%

Results

Intrinsic Value / share$301.24

Current Price$181.45

Upside / Downside+66.0%

Net Debt (used)-$6.55B

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

WACC \ Near-term	15.9%	19.9%	23.9%	27.9%	31.9%
7.0%	$406.88	$471.86	$545.92	$629.97	$725.01
8.0%	$332.63	$383.95	$442.38	$508.67	$583.58
9.0%	$281.65	$323.59	$371.32	$425.43	$486.55
10.0%	$244.59	$279.73	$319.69	$364.97	$416.09
11.0%	$216.52	$246.52	$280.62	$319.22	$362.78

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.14

Book Value / share($)Yahoo: $42.84

Results

Graham Number$70.39

Current Price$181.45

Margin of Safety-61.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.44%

Terminal growth rate(%)

Computed WACC: 10.44%

Cost of equity (Re)10.47%(Rf 4.30% + β 1.12 × 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)99.70%

Debt weight (D/V)0.30%

Results

Current Price$181.45

Implied Near-term FCF Growth12.8%

Historical Revenue Growth16.0%

Historical Earnings Growth23.9%

Base FCF (TTM)$1.05B

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$181.45

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $929.13M

Target EV/EBITDA multipleCurrent: 25.1×

Net Debt($B)Default: -$6.55B

Results

Implied Equity Value / share$181.45

Current Price$181.45

Upside / Downside-0.0%

Implied EV$23.28B

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

Mult \ Net Debt	-$10.55B	-$8.55B	-$6.55B	-$4.55B	-$2.55B
21.1x	$183.17	$171.01	$158.84	$146.67	$134.51
23.1x	$194.48	$182.31	$170.14	$157.98	$145.81
25.1x	$205.78	$193.62	$181.45	$169.28	$157.11
27.1x	$217.09	$204.92	$192.75	$180.59	$168.42
29.1x	$228.39	$216.22	$204.06	$191.89	$179.72

← Overview Financial Statements ← Companies