W — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($73.77)
DCF	$43.80	-40.6%
Graham Number	—	—
Reverse DCF	—	implied g: 13.1%
DDM	—	—
EV/EBITDA	$88.68	+20.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $383.12M

Near-term growth (yrs 1–5)(%)Rev: 6.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 17.04%

Computed WACC: 17.04%

Cost of equity (Re)22.81%(Rf 4.30% + β 3.37 × ERP 5.50%)

Cost of debt (Rd)5.16%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)69.18%

Debt weight (D/V)30.82%

Results

Intrinsic Value / share$4.60

Current Price$73.77

Upside / Downside-93.8%

Net Debt (used)$2.75B

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

WACC \ Near-term	-1.1%	2.9%	6.9%	10.9%	14.9%
7.0%	$45.26	$59.37	$75.74	$94.65	$116.38
8.0%	$32.47	$43.79	$56.92	$72.06	$89.45
9.0%	$23.62	$33.02	$43.91	$56.45	$70.84
10.0%	$17.12	$25.13	$34.38	$45.03	$57.24
11.0%	$12.16	$19.10	$27.11	$36.32	$46.86

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.44

Book Value / share($)Yahoo: $-21.34

Results

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

Graham Number—

Current Price$73.77

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 17.04%

Terminal growth rate(%)

Computed WACC: 17.04%

Cost of equity (Re)22.81%(Rf 4.30% + β 3.37 × ERP 5.50%)

Cost of debt (Rd)5.16%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)69.18%

Debt weight (D/V)30.82%

Results

Current Price$73.77

Implied Near-term FCF Growth31.8%

Historical Revenue Growth6.9%

Historical Earnings Growth—

Base FCF (TTM)$383.12M

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$73.77

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $205.00M

Target EV/EBITDA multipleCurrent: 60.5×

Net Debt($B)Default: $2.75B

Results

Implied Equity Value / share$88.68

Current Price$73.77

Upside / Downside+20.2%

Implied EV$12.40B

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

Mult \ Net Debt	$755.00M	$1.75B	$2.75B	$3.75B	$4.75B
56.5x	$99.52	$90.33	$81.14	$71.94	$62.75
58.5x	$103.29	$94.10	$84.91	$75.71	$66.52
60.5x	$107.06	$97.87	$88.68	$79.48	$70.29
62.5x	$110.83	$101.64	$92.45	$83.25	$74.06
64.5x	$114.60	$105.41	$96.21	$87.02	$77.83

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