WBS-PF — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($20.88)
DCF	$-20.25	-197.0%
Graham Number	$57.89	+177.3%
Reverse DCF	—	—
DDM	$26.99	+29.2%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 18.2% / EPS: 53.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.51%

Computed WACC: 4.51%

Cost of equity (Re)10.01%(Rf 4.30% + β 1.04 × 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)45.03%

Debt weight (D/V)54.97%

Results

Intrinsic Value / share$-20.25

Current Price$20.88

Upside / Downside-197.0%

Net Debt (used)$1.87B

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

WACC \ Near-term	45.4%	49.4%	53.4%	57.4%	61.4%
7.0%	$-20.25	$-20.25	$-20.25	$-20.25	$-20.25
8.0%	$-20.25	$-20.25	$-20.25	$-20.25	$-20.25
9.0%	$-20.25	$-20.25	$-20.25	$-20.25	$-20.25
10.0%	$-20.25	$-20.25	$-20.25	$-20.25	$-20.25
11.0%	$-20.25	$-20.25	$-20.25	$-20.25	$-20.25

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.61

Book Value / share($)Yahoo: $57.12

Results

Graham Number$57.89

Current Price$20.88

Margin of Safety+177.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.51%

Terminal growth rate(%)

Computed WACC: 4.51%

Cost of equity (Re)10.01%(Rf 4.30% + β 1.04 × 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)45.03%

Debt weight (D/V)54.97%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$20.88

Implied Near-term FCF Growth—

Historical Revenue Growth18.2%

Historical Earnings Growth53.4%

Base FCF (TTM)—

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: $1.31

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$26.99

Current Price$20.88

Upside / Downside+29.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $1.87B

Results

Implied Equity Value / share$-20.25

Current Price$20.88

Upside / Downside-197.0%

Implied EV$0

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