VSCO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($61.18)
DCF	$3.98	-93.5%
Graham Number	$19.78	-67.7%
Reverse DCF	—	implied g: 24.7%
DDM	—	—
EV/EBITDA	$61.63	+0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $144.25M

Near-term growth (yrs 1–5)(%)Rev: 9.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.26%

Computed WACC: 10.26%

Cost of equity (Re)16.92%(Rf 4.30% + β 2.29 × 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)60.65%

Debt weight (D/V)39.35%

Results

Intrinsic Value / share$-2.91

Current Price$61.18

Upside / Downside-104.8%

Net Debt (used)$2.94B

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

WACC \ Near-term	1.3%	5.3%	9.3%	13.3%	17.3%
7.0%	$5.39	$13.64	$23.20	$34.20	$46.82
8.0%	$-2.38	$4.23	$11.87	$20.66	$30.73
9.0%	$-7.74	$-2.27	$4.05	$11.31	$19.63
10.0%	$-11.67	$-7.03	$-1.67	$4.48	$11.52
11.0%	$-14.67	$-10.65	$-6.03	$-0.72	$5.34

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.13

Book Value / share($)Yahoo: $8.16

Results

Graham Number$19.78

Current Price$61.18

Margin of Safety-67.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.26%

Terminal growth rate(%)

Computed WACC: 10.26%

Cost of equity (Re)16.92%(Rf 4.30% + β 2.29 × 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)60.65%

Debt weight (D/V)39.35%

Results

Current Price$61.18

Implied Near-term FCF Growth28.6%

Historical Revenue Growth9.3%

Historical Earnings Growth—

Base FCF (TTM)$144.25M

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$61.18

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $590.00M

Target EV/EBITDA multipleCurrent: 13.4×

Net Debt($B)Default: $2.94B

Results

Implied Equity Value / share$61.63

Current Price$61.18

Upside / Downside+0.7%

Implied EV$7.88B

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

Mult \ Net Debt	$937.00M	$1.94B	$2.94B	$3.94B	$4.94B
9.4x	$57.14	$44.68	$32.22	$19.77	$7.31
11.4x	$71.84	$59.38	$46.92	$34.47	$22.01
13.4x	$86.54	$74.08	$61.63	$49.17	$36.71
15.4x	$101.24	$88.78	$76.33	$63.87	$51.41
17.4x	$115.94	$103.48	$91.03	$78.57	$66.11

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