WBD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($28.50)
DCF	$101.84	+257.3%
Graham Number	$7.87	-72.4%
Reverse DCF	—	implied g: -12.3%
DDM	—	—
EV/EBITDA	$28.67	+0.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $16.22B

Near-term growth (yrs 1–5)(%)Rev: -5.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.89%

Computed WACC: 8.89%

Cost of equity (Re)13.51%(Rf 4.30% + β 1.68 × 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)65.78%

Debt weight (D/V)34.22%

Results

Intrinsic Value / share$103.84

Current Price$28.50

Upside / Downside+264.4%

Net Debt (used)$32.18B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$102.83	$126.25	$153.49	$185.03	$221.34
8.0%	$82.22	$101.07	$122.97	$148.28	$177.39
9.0%	$67.94	$83.64	$101.84	$122.86	$147.00
10.0%	$57.46	$70.85	$86.36	$104.23	$124.75
11.0%	$49.44	$61.07	$74.52	$90.01	$107.77

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.19

Book Value / share($)Yahoo: $14.48

Results

Graham Number$7.87

Current Price$28.50

Margin of Safety-72.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.89%

Terminal growth rate(%)

Computed WACC: 8.89%

Cost of equity (Re)13.51%(Rf 4.30% + β 1.68 × 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)65.78%

Debt weight (D/V)34.22%

Results

Current Price$28.50

Implied Near-term FCF Growth-12.5%

Historical Revenue Growth-5.7%

Historical Earnings Growth—

Base FCF (TTM)$16.22B

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$28.50

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $7.57B

Target EV/EBITDA multipleCurrent: 13.7×

Net Debt($B)Default: $32.18B

Results

Implied Equity Value / share$28.67

Current Price$28.50

Upside / Downside+0.6%

Implied EV$103.28B

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

Mult \ Net Debt	$16.18B	$24.18B	$32.18B	$40.18B	$48.18B
9.7x	$22.92	$19.70	$16.47	$13.24	$10.02
11.7x	$29.02	$25.80	$22.57	$19.35	$16.12
13.7x	$35.12	$31.90	$28.67	$25.45	$22.22
15.7x	$41.23	$38.00	$34.77	$31.55	$28.32
17.7x	$47.33	$44.10	$40.87	$37.65	$34.42

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