VTRS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($15.70)
DCF	$25.61	+63.2%
Graham Number	—	—
Reverse DCF	—	implied g: -0.3%
DDM	$9.89	-37.0%
EV/EBITDA	$15.69	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $2.43B

Near-term growth (yrs 1–5)(%)Rev: 5.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.05%

Computed WACC: 6.05%

Cost of equity (Re)8.68%(Rf 4.30% + β 0.80 × ERP 5.50%)

Cost of debt (Rd)3.55%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)55.22%

Debt weight (D/V)44.78%

Results

Intrinsic Value / share$56.79

Current Price$15.70

Upside / Downside+261.7%

Net Debt (used)$13.19B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$25.93	$33.49	$42.29	$52.47	$64.19
8.0%	$19.28	$25.37	$32.43	$40.60	$50.00
9.0%	$14.67	$19.74	$25.61	$32.40	$40.19
10.0%	$11.29	$15.61	$20.62	$26.39	$33.01
11.0%	$8.70	$12.45	$16.80	$21.80	$27.53

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-3.13

Book Value / share($)Yahoo: $12.78

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$15.70

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.05%

Terminal growth rate(%)

Computed WACC: 6.05%

Cost of equity (Re)8.68%(Rf 4.30% + β 0.80 × ERP 5.50%)

Cost of debt (Rd)3.55%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)55.22%

Debt weight (D/V)44.78%

Results

Current Price$15.70

Implied Near-term FCF Growth-9.1%

Historical Revenue Growth5.0%

Historical Earnings Growth—

Base FCF (TTM)$2.43B

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: $0.48

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$9.89

Current Price$15.70

Upside / Downside-37.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $3.96B

Target EV/EBITDA multipleCurrent: 7.9×

Net Debt($B)Default: $13.19B

Results

Implied Equity Value / share$15.69

Current Price$15.70

Upside / Downside-0.0%

Implied EV$31.26B

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

Mult \ Net Debt	$7.19B	$10.19B	$13.19B	$16.19B	$19.19B
3.9x	$7.16	$4.55	$1.95	$-0.66	$-3.26
5.9x	$14.03	$11.43	$8.82	$6.22	$3.61
7.9x	$20.90	$18.30	$15.69	$13.09	$10.49
9.9x	$27.78	$25.17	$22.57	$19.96	$17.36
11.9x	$34.65	$32.05	$29.44	$26.84	$24.23

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