VLGEA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($40.37)
DCF	$12.98	-67.8%
Graham Number	$53.60	+32.8%
Reverse DCF	—	implied g: 15.4%
DDM	$20.60	-49.0%
EV/EBITDA	$54.28	+34.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $20.09M

Near-term growth (yrs 1–5)(%)Rev: 4.5% / EPS: -5.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.09%

Computed WACC: 6.09%

Cost of equity (Re)6.95%(Rf 4.30% + β 0.48 × ERP 5.50%)

Cost of debt (Rd)5.76%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)64.19%

Debt weight (D/V)35.81%

Results

Intrinsic Value / share$40.21

Current Price$40.37

Upside / Downside-0.4%

Net Debt (used)$214.61M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$13.27	$20.04	$27.91	$37.02	$47.51
8.0%	$7.32	$12.76	$19.09	$26.40	$34.81
9.0%	$3.19	$7.72	$12.98	$19.06	$26.03
10.0%	$0.16	$4.03	$8.51	$13.68	$19.60
11.0%	$-2.16	$1.20	$5.09	$9.57	$14.70

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.76

Book Value / share($)Yahoo: $33.96

Results

Graham Number$53.60

Current Price$40.37

Margin of Safety+32.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.09%

Terminal growth rate(%)

Computed WACC: 6.09%

Cost of equity (Re)6.95%(Rf 4.30% + β 0.48 × ERP 5.50%)

Cost of debt (Rd)5.76%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)64.19%

Debt weight (D/V)35.81%

Results

Current Price$40.37

Implied Near-term FCF Growth5.0%

Historical Revenue Growth4.5%

Historical Earnings Growth-5.8%

Base FCF (TTM)$20.09M

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: $1.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$20.60

Current Price$40.37

Upside / Downside-49.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $109.26M

Target EV/EBITDA multipleCurrent: 7.2×

Net Debt($B)Default: $214.61M

Results

Implied Equity Value / share$54.28

Current Price$40.37

Upside / Downside+34.4%

Implied EV$791.47M

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

Mult \ Net Debt	-$1.79B	-$785.39M	$214.61M	$1.21B	$2.21B
3.2x	$201.33	$107.24	$13.16	$-80.93	$-175.02
5.2x	$221.89	$127.80	$33.72	$-60.37	$-154.46
7.2x	$242.45	$148.36	$54.28	$-39.81	$-133.90
9.2x	$263.01	$168.92	$74.84	$-19.25	$-113.34
11.2x	$283.57	$189.48	$95.39	$1.31	$-92.78

← Overview Financial Statements ← Companies