WFRD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($101.25)
DCF	$322.45	+218.5%
Graham Number	$56.27	-44.4%
Reverse DCF	—	implied g: 7.8%
DDM	$22.66	-77.6%
EV/EBITDA	$103.29	+2.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $383.38M

Near-term growth (yrs 1–5)(%)Rev: -3.9% / EPS: 27.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.82%

Computed WACC: 6.82%

Cost of equity (Re)8.36%(Rf 4.30% + β 0.74 × 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)81.56%

Debt weight (D/V)18.44%

Results

Intrinsic Value / share$525.69

Current Price$101.25

Upside / Downside+419.2%

Net Debt (used)$655.00M

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

WACC \ Near-term	19.1%	23.1%	27.1%	31.1%	35.1%
7.0%	$363.62	$428.09	$501.33	$584.21	$677.68
8.0%	$287.12	$337.90	$395.55	$460.77	$534.27
9.0%	$234.65	$276.05	$323.03	$376.14	$435.98
10.0%	$196.56	$231.16	$270.40	$314.75	$364.69
11.0%	$167.74	$197.21	$230.62	$268.35	$310.81

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.93

Book Value / share($)Yahoo: $23.73

Results

Graham Number$56.27

Current Price$101.25

Margin of Safety-44.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.82%

Terminal growth rate(%)

Computed WACC: 6.82%

Cost of equity (Re)8.36%(Rf 4.30% + β 0.74 × 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)81.56%

Debt weight (D/V)18.44%

Results

Current Price$101.25

Implied Near-term FCF Growth1.0%

Historical Revenue Growth-3.9%

Historical Earnings Growth27.1%

Base FCF (TTM)$383.38M

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: $1.10

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$22.66

Current Price$101.25

Upside / Downside-77.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.01B

Target EV/EBITDA multipleCurrent: 8.0×

Net Debt($B)Default: $655.00M

Results

Implied Equity Value / share$103.29

Current Price$101.25

Upside / Downside+2.0%

Implied EV$8.06B

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

Mult \ Net Debt	-$1.34B	-$345.00M	$655.00M	$1.66B	$2.65B
4.0x	$74.79	$60.85	$46.90	$32.96	$19.02
6.0x	$102.98	$89.04	$75.10	$61.15	$47.21
8.0x	$131.18	$117.23	$103.29	$89.35	$75.40
10.0x	$159.37	$145.43	$131.48	$117.54	$103.60
12.0x	$187.57	$173.62	$159.68	$145.73	$131.79

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