VVX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($70.97)
DCF	$79.19	+11.6%
Graham Number	$43.80	-38.3%
Reverse DCF	—	implied g: 3.9%
DDM	—	—
EV/EBITDA	$69.75	-1.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $181.51M

Near-term growth (yrs 1–5)(%)Rev: 5.3% / EPS: -7.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.28%

Computed WACC: 3.28%

Cost of equity (Re)4.98%(Rf 4.30% + β 0.12 × 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)65.98%

Debt weight (D/V)34.02%

Results

Intrinsic Value / share$853.02

Current Price$70.97

Upside / Downside+1101.9%

Net Debt (used)$774.76M

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

WACC \ Near-term	-2.7%	1.3%	5.3%	9.3%	13.3%
7.0%	$80.07	$101.25	$125.87	$154.36	$187.16
8.0%	$61.36	$78.39	$98.18	$121.04	$147.33
9.0%	$48.39	$62.57	$79.02	$97.99	$119.79
10.0%	$38.87	$50.97	$64.97	$81.11	$99.63
11.0%	$31.59	$42.09	$54.24	$68.22	$84.24

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.45

Book Value / share($)Yahoo: $34.80

Results

Graham Number$43.80

Current Price$70.97

Margin of Safety-38.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.28%

Terminal growth rate(%)

Computed WACC: 3.28%

Cost of equity (Re)4.98%(Rf 4.30% + β 0.12 × 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)65.98%

Debt weight (D/V)34.02%

Results

Current Price$70.97

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth5.3%

Historical Earnings Growth-7.2%

Base FCF (TTM)$181.51M

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$70.97

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $301.88M

Target EV/EBITDA multipleCurrent: 9.8×

Net Debt($B)Default: $774.76M

Results

Implied Equity Value / share$69.75

Current Price$70.97

Upside / Downside-1.7%

Implied EV$2.95B

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

Mult \ Net Debt	-$1.23B	-$225.24M	$774.76M	$1.77B	$2.77B
5.8x	$95.17	$63.09	$31.01	$-1.07	$-33.14
7.8x	$114.54	$82.46	$50.38	$18.30	$-13.78
9.8x	$133.90	$101.83	$69.75	$37.67	$5.59
11.8x	$153.27	$121.19	$89.11	$57.04	$24.96
13.8x	$172.64	$140.56	$108.48	$76.40	$44.32

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