WHR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($64.06)
DCF	$-142.33	-322.2%
Graham Number	$78.74	+22.9%
Reverse DCF	—	—
DDM	$91.67	+43.1%
EV/EBITDA	$56.93	-11.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$133.13M

Near-term growth (yrs 1–5)(%)Rev: -0.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.95%

Computed WACC: 3.95%

Cost of equity (Re)11.00%(Rf 4.30% + β 1.22 × 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)35.94%

Debt weight (D/V)64.06%

Results

Intrinsic Value / share$-272.36

Current Price$64.06

Upside / Downside-525.2%

Net Debt (used)$6.69B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-142.65	$-150.17	$-158.91	$-169.04	$-180.70
8.0%	$-136.03	$-142.08	$-149.11	$-157.24	$-166.58
9.0%	$-131.45	$-136.49	$-142.33	$-149.08	$-156.83
10.0%	$-128.08	$-132.38	$-137.36	$-143.10	$-149.69
11.0%	$-125.51	$-129.24	$-133.56	$-138.53	$-144.23

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.66

Book Value / share($)Yahoo: $48.68

Results

Graham Number$78.74

Current Price$64.06

Margin of Safety+22.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.95%

Terminal growth rate(%)

Computed WACC: 3.95%

Cost of equity (Re)11.00%(Rf 4.30% + β 1.22 × 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)35.94%

Debt weight (D/V)64.06%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$64.06

Implied Near-term FCF Growth—

Historical Revenue Growth-0.9%

Historical Earnings Growth—

Base FCF (TTM)-$133.13M

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: $4.45

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$91.67

Current Price$64.06

Upside / Downside+43.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.04B

Target EV/EBITDA multipleCurrent: 9.9×

Net Debt($B)Default: $6.69B

Results

Implied Equity Value / share$56.93

Current Price$64.06

Upside / Downside-11.1%

Implied EV$10.30B

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

Mult \ Net Debt	$2.69B	$4.69B	$6.69B	$8.69B	$10.69B
5.9x	$54.59	$23.05	$-8.50	$-40.04	$-71.58
7.9x	$87.30	$55.76	$24.22	$-7.33	$-38.87
9.9x	$120.02	$88.47	$56.93	$25.38	$-6.16
11.9x	$152.73	$121.18	$89.64	$58.09	$26.55
13.9x	$185.44	$153.90	$122.35	$90.81	$59.26

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