VNO-PO

VNO-PO — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($14.81)
DCF$89803089718978117632.00+606163278562120302592.0%
Graham Number$19.11+29.0%
Reverse DCFimplied g: -14.5%
DDM$22.87+54.3%
EV/EBITDA$4860115965.70+32805372601.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $1.27B
Rev: -8.1% / EPS: 1263.5%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$89833700362695802880.00
Current Price$14.81
Upside / Downside+606369897824473841664.0%
Net Debt (used)$7.08B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term1255.5%1259.5%1263.5%1267.5%1271.5%
7.0%$148372753879797432320.00$150574908248729976832.00$152803132915786940416.00$155057658674661031936.00$157338717677148438528.00
8.0%$111825230705122263040.00$113484945243764686848.00$115164308383264030720.00$116863494067664470016.00$118582677264582295552.00
9.0%$87229059192259575808.00$88523716350792613888.00$89833700362695802880.00$91159146912684883968.00$92500192483910975488.00
10.0%$69745380598902734848.00$70780544288079609856.00$71827962806045917184.00$72887744641667137536.00$73959998922210557952.00
11.0%$56817761033829597184.00$57661052468001480704.00$58514327243041177600.00$59377673738911031296.00$60251180855644381184.00

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $0.64
Yahoo: $25.20

Results

Graham Number$19.11
Current Price$14.81
Margin of Safety+29.0%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$14.81
Implied Near-term FCF Growth-14.5%
Historical Revenue Growth-8.1%
Historical Earnings Growth1263.5%
Base FCF (TTM)$1.27B
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

Yahoo: $1.11

Results

DDM Intrinsic Value / share$22.87
Current Price$14.81
Upside / Downside+54.3%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $788.11M
Current: 15.2×
Default: $7.08B

Results

Implied Equity Value / share$4860115965.70
Current Price$14.81
Upside / Downside+32805372601.3%
Implied EV$11.94B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$3.08B$5.08B$7.08B$9.08B$11.08B
11.2x$5707663869.70$3707663869.70$1707663869.70$-292336130.30$-2292336130.30
13.2x$7283889917.70$5283889917.70$3283889917.70$1283889917.70$-716110082.30
15.2x$8860115965.70$6860115965.70$4860115965.70$2860115965.70$860115965.70
17.2x$10436342013.70$8436342013.70$6436342013.70$4436342013.70$2436342013.70
19.2x$12012568061.70$10012568061.70$8012568061.70$6012568061.70$4012568061.70