WEYS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($32.48)
DCF	$51.56	+58.7%
Graham Number	$39.00	+20.1%
Reverse DCF	—	implied g: -4.3%
DDM	$22.25	-31.5%
EV/EBITDA	$31.34	-3.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $24.50M

Near-term growth (yrs 1–5)(%)Rev: -1.6% / EPS: -17.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.93%

Computed WACC: 8.93%

Cost of equity (Re)9.26%(Rf 4.30% + β 0.90 × 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)96.43%

Debt weight (D/V)3.57%

Results

Intrinsic Value / share$52.05

Current Price$32.48

Upside / Downside+60.3%

Net Debt (used)-$62.17M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$51.95	$61.13	$71.82	$84.19	$98.44
8.0%	$43.86	$51.26	$59.85	$69.78	$81.20
9.0%	$38.26	$44.42	$51.56	$59.80	$69.28
10.0%	$34.15	$39.40	$45.48	$52.50	$60.55
11.0%	$31.00	$35.56	$40.84	$46.92	$53.88

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.54

Book Value / share($)Yahoo: $26.61

Results

Graham Number$39.00

Current Price$32.48

Margin of Safety+20.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.93%

Terminal growth rate(%)

Computed WACC: 8.93%

Cost of equity (Re)9.26%(Rf 4.30% + β 0.90 × 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)96.43%

Debt weight (D/V)3.57%

Results

Current Price$32.48

Implied Near-term FCF Growth-4.5%

Historical Revenue Growth-1.6%

Historical Earnings Growth-17.9%

Base FCF (TTM)$24.50M

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: $1.08

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$22.25

Current Price$32.48

Upside / Downside-31.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $33.36M

Target EV/EBITDA multipleCurrent: 7.1×

Net Debt($B)Default: -$62.17M

Results

Implied Equity Value / share$31.34

Current Price$32.48

Upside / Downside-3.5%

Implied EV$237.03M

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

Mult \ Net Debt	-$2.06B	-$1.06B	-$62.17M	$937.83M	$1.94B
3.1x	$226.82	$122.09	$17.36	$-87.37	$-192.10
5.1x	$233.81	$129.08	$24.35	$-80.38	$-185.11
7.1x	$240.79	$136.06	$31.34	$-73.39	$-178.12
9.1x	$247.78	$143.05	$38.32	$-66.41	$-171.14
11.1x	$254.77	$150.04	$45.31	$-59.42	$-164.15

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