WD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($47.64)
DCF	$-63.02	-232.3%
Graham Number	$62.77	+31.8%
Reverse DCF	—	—
DDM	$56.03	+17.6%
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: 0.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.35%

Computed WACC: 6.35%

Cost of equity (Re)12.87%(Rf 4.30% + β 1.56 × ERP 5.50%)

Cost of debt (Rd)2.62%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)39.62%

Debt weight (D/V)60.38%

Results

Intrinsic Value / share$-63.02

Current Price$47.64

Upside / Downside-232.3%

Net Debt (used)$2.15B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-63.02	$-63.02	$-63.02	$-63.02	$-63.02
8.0%	$-63.02	$-63.02	$-63.02	$-63.02	$-63.02
9.0%	$-63.02	$-63.02	$-63.02	$-63.02	$-63.02
10.0%	$-63.02	$-63.02	$-63.02	$-63.02	$-63.02
11.0%	$-63.02	$-63.02	$-63.02	$-63.02	$-63.02

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.37

Book Value / share($)Yahoo: $51.96

Results

Graham Number$62.77

Current Price$47.64

Margin of Safety+31.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.35%

Terminal growth rate(%)

Computed WACC: 6.35%

Cost of equity (Re)12.87%(Rf 4.30% + β 1.56 × ERP 5.50%)

Cost of debt (Rd)2.62%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)39.62%

Debt weight (D/V)60.38%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$47.64

Implied Near-term FCF Growth—

Historical Revenue Growth0.0%

Historical Earnings Growth—

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: $2.72

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$56.03

Current Price$47.64

Upside / Downside+17.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $2.15B

Results

Implied Equity Value / share$-63.02

Current Price$47.64

Upside / Downside-232.3%

Implied EV$0

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