WDAY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($134.01)
DCF	$4820.17	+3496.9%
Graham Number	$39.91	-70.2%
Reverse DCF	—	implied g: -6.9%
DDM	—	—
EV/EBITDA	$164.38	+22.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.08B

Near-term growth (yrs 1–5)(%)Rev: 14.5% / EPS: 59.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.76%

Computed WACC: 9.76%

Cost of equity (Re)10.48%(Rf 4.30% + β 1.12 × ERP 5.50%)

Cost of debt (Rd)3.82%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)90.35%

Debt weight (D/V)9.65%

Results

Intrinsic Value / share$4149.14

Current Price$134.01

Upside / Downside+2996.1%

Net Debt (used)-$1.62B

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

WACC \ Near-term	51.7%	55.7%	59.7%	63.7%	67.7%
7.0%	$5970.72	$6790.57	$7698.57	$8701.69	$9807.22
8.0%	$4642.44	$5277.88	$5981.54	$6758.79	$7615.28
9.0%	$3737.57	$4247.44	$4811.96	$5435.42	$6122.35
10.0%	$3085.68	$3505.13	$3969.47	$4482.20	$5047.05
11.0%	$2596.64	$2948.30	$3337.52	$3767.24	$4240.56

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.37

Book Value / share($)Yahoo: $29.87

Results

Graham Number$39.91

Current Price$134.01

Margin of Safety-70.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.76%

Terminal growth rate(%)

Computed WACC: 9.76%

Cost of equity (Re)10.48%(Rf 4.30% + β 1.12 × ERP 5.50%)

Cost of debt (Rd)3.82%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)90.35%

Debt weight (D/V)9.65%

Results

Current Price$134.01

Implied Near-term FCF Growth-5.2%

Historical Revenue Growth14.5%

Historical Earnings Growth59.7%

Base FCF (TTM)$3.08B

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$134.01

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.37B

Target EV/EBITDA multipleCurrent: 24.4×

Net Debt($B)Default: -$1.62B

Results

Implied Equity Value / share$164.38

Current Price$134.01

Upside / Downside+22.7%

Implied EV$33.39B

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

Mult \ Net Debt	-$1.62B	-$1.62B	-$1.62B	-$1.62B	-$1.62B
20.4x	$138.63	$138.63	$138.63	$138.63	$138.63
22.4x	$151.51	$151.51	$151.51	$151.51	$151.51
24.4x	$164.38	$164.38	$164.38	$164.38	$164.38
26.4x	$177.25	$177.25	$177.25	$177.25	$177.25
28.4x	$190.13	$190.13	$190.13	$190.13	$190.13

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