WGO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($38.96)
DCF	$100.33	+157.5%
Graham Number	$35.56	-8.7%
Reverse DCF	—	implied g: -0.8%
DDM	$28.84	-26.0%
EV/EBITDA	$38.96	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $120.14M

Near-term growth (yrs 1–5)(%)Rev: 12.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.90%

Computed WACC: 6.90%

Cost of equity (Re)10.53%(Rf 4.30% + β 1.13 × 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)65.52%

Debt weight (D/V)34.48%

Results

Intrinsic Value / share$160.15

Current Price$38.96

Upside / Downside+311.1%

Net Debt (used)$396.90M

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

WACC \ Near-term	4.3%	8.3%	12.3%	16.3%	20.3%
7.0%	$106.17	$129.33	$156.04	$186.71	$221.77
8.0%	$83.41	$101.89	$123.18	$147.60	$175.49
9.0%	$67.71	$82.96	$100.52	$120.65	$143.61
10.0%	$56.23	$69.14	$83.98	$100.98	$120.35
11.0%	$47.49	$58.62	$71.40	$86.02	$102.67

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.28

Book Value / share($)Yahoo: $43.90

Results

Graham Number$35.56

Current Price$38.96

Margin of Safety-8.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.90%

Terminal growth rate(%)

Computed WACC: 6.90%

Cost of equity (Re)10.53%(Rf 4.30% + β 1.13 × 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)65.52%

Debt weight (D/V)34.48%

Results

Current Price$38.96

Implied Near-term FCF Growth-6.6%

Historical Revenue Growth12.3%

Historical Earnings Growth—

Base FCF (TTM)$120.14M

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: $1.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$28.84

Current Price$38.96

Upside / Downside-26.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $133.60M

Target EV/EBITDA multipleCurrent: 11.2×

Net Debt($B)Default: $396.90M

Results

Implied Equity Value / share$38.96

Current Price$38.96

Upside / Downside-0.0%

Implied EV$1.50B

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

Mult \ Net Debt	-$1.60B	-$603.10M	$396.90M	$1.40B	$2.40B
7.2x	$90.89	$55.46	$20.02	$-15.41	$-50.85
9.2x	$100.36	$64.92	$29.49	$-5.95	$-41.38
11.2x	$109.83	$74.39	$38.96	$3.52	$-31.91
13.2x	$119.30	$83.86	$48.43	$12.99	$-22.44
15.2x	$128.76	$93.33	$57.89	$22.46	$-12.98

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