VRTS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($140.67)
DCF	$-3.49	-102.5%
Graham Number	$247.29	+75.8%
Reverse DCF	—	—
DDM	$197.76	+40.6%
EV/EBITDA	$156.10	+11.0%

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: -10.9% / EPS: 10.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.29%

Computed WACC: 8.29%

Cost of equity (Re)12.52%(Rf 4.30% + β 1.49 × 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)66.21%

Debt weight (D/V)33.79%

Results

Intrinsic Value / share$-3.49

Current Price$140.67

Upside / Downside-102.5%

Net Debt (used)$23.54M

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

WACC \ Near-term	2.8%	6.8%	10.8%	14.8%	18.8%
7.0%	$-3.49	$-3.49	$-3.49	$-3.49	$-3.49
8.0%	$-3.49	$-3.49	$-3.49	$-3.49	$-3.49
9.0%	$-3.49	$-3.49	$-3.49	$-3.49	$-3.49
10.0%	$-3.49	$-3.49	$-3.49	$-3.49	$-3.49
11.0%	$-3.49	$-3.49	$-3.49	$-3.49	$-3.49

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $19.98

Book Value / share($)Yahoo: $136.03

Results

Graham Number$247.29

Current Price$140.67

Margin of Safety+75.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.29%

Terminal growth rate(%)

Computed WACC: 8.29%

Cost of equity (Re)12.52%(Rf 4.30% + β 1.49 × 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)66.21%

Debt weight (D/V)33.79%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$140.67

Implied Near-term FCF Growth—

Historical Revenue Growth-10.9%

Historical Earnings Growth10.8%

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: $9.60

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$197.76

Current Price$140.67

Upside / Downside+40.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $231.27M

Target EV/EBITDA multipleCurrent: 4.7×

Net Debt($B)Default: $23.54M

Results

Implied Equity Value / share$156.10

Current Price$140.67

Upside / Downside+11.0%

Implied EV$1.08B

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

Mult \ Net Debt	-$1.98B	-$976.46M	$23.54M	$1.02B	$2.02B
0.7x	$315.25	$167.20	$19.15	$-128.91	$-276.96
2.7x	$383.73	$235.68	$87.62	$-60.43	$-208.48
4.7x	$452.21	$304.15	$156.10	$8.05	$-140.00
6.7x	$520.68	$372.63	$224.58	$76.53	$-71.52
8.7x	$589.16	$441.11	$293.06	$145.01	$-3.04

← Overview Financial Statements ← Companies