VIRT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($42.73)
DCF	$96.82	+126.6%
Graham Number	$46.38	+8.5%
Reverse DCF	—	—
DDM	$19.78	-53.7%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 22.9% / EPS: 49.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.70%

Computed WACC: 6.70%

Cost of equity (Re)7.65%(Rf 4.30% + β 0.61 × ERP 5.50%)

Cost of debt (Rd)7.03%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)54.41%

Debt weight (D/V)45.59%

Results

Intrinsic Value / share$96.82

Current Price$42.73

Upside / Downside+126.6%

Net Debt (used)-$8.22B

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

WACC \ Near-term	41.7%	45.7%	49.7%	53.7%	57.7%
7.0%	$96.82	$96.82	$96.82	$96.82	$96.82
8.0%	$96.82	$96.82	$96.82	$96.82	$96.82
9.0%	$96.82	$96.82	$96.82	$96.82	$96.82
10.0%	$96.82	$96.82	$96.82	$96.82	$96.82
11.0%	$96.82	$96.82	$96.82	$96.82	$96.82

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.13

Book Value / share($)Yahoo: $18.63

Results

Graham Number$46.38

Current Price$42.73

Margin of Safety+8.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.70%

Terminal growth rate(%)

Computed WACC: 6.70%

Cost of equity (Re)7.65%(Rf 4.30% + β 0.61 × ERP 5.50%)

Cost of debt (Rd)7.03%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)54.41%

Debt weight (D/V)45.59%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$42.73

Implied Near-term FCF Growth—

Historical Revenue Growth22.9%

Historical Earnings Growth49.7%

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

Annual dividend D0($/share)Yahoo: $0.96

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$19.78

Current Price$42.73

Upside / Downside-53.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$8.22B

Results

Implied Equity Value / share$96.82

Current Price$42.73

Upside / Downside+126.6%

Implied EV$0

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