WKC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.98)
DCF	$105.34	+321.7%
Graham Number	—	—
Reverse DCF	—	implied g: -14.4%
DDM	$15.86	-36.5%
EV/EBITDA	$25.15	+0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $345.54M

Near-term growth (yrs 1–5)(%)Rev: -7.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.03%

Computed WACC: 11.03%

Cost of equity (Re)10.47%(Rf 4.30% + β 1.12 × ERP 5.50%)

Cost of debt (Rd)15.11%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)61.80%

Debt weight (D/V)38.20%

Results

Intrinsic Value / share$76.87

Current Price$24.98

Upside / Downside+207.7%

Net Debt (used)$664.50M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$106.36	$130.49	$158.56	$191.05	$228.47
8.0%	$85.13	$104.55	$127.11	$153.18	$183.18
9.0%	$70.42	$86.59	$105.34	$126.99	$151.87
10.0%	$59.61	$73.41	$89.39	$107.81	$128.95
11.0%	$51.35	$63.33	$77.19	$93.15	$111.44

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-10.99

Book Value / share($)Yahoo: $24.01

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$24.98

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.03%

Terminal growth rate(%)

Computed WACC: 11.03%

Cost of equity (Re)10.47%(Rf 4.30% + β 1.12 × ERP 5.50%)

Cost of debt (Rd)15.11%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)61.80%

Debt weight (D/V)38.20%

Results

Current Price$24.98

Implied Near-term FCF Growth-10.7%

Historical Revenue Growth-7.5%

Historical Earnings Growth—

Base FCF (TTM)$345.54M

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: $0.77

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$15.86

Current Price$24.98

Upside / Downside-36.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $305.50M

Target EV/EBITDA multipleCurrent: 6.4×

Net Debt($B)Default: $664.50M

Results

Implied Equity Value / share$25.15

Current Price$24.98

Upside / Downside+0.7%

Implied EV$1.95B

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

Mult \ Net Debt	-$1.34B	-$335.50M	$664.50M	$1.66B	$2.66B
2.4x	$40.32	$20.82	$1.32	$-18.18	$-37.68
4.4x	$52.24	$32.74	$13.24	$-6.26	$-25.77
6.4x	$64.15	$44.65	$25.15	$5.65	$-13.85
8.4x	$76.07	$56.57	$37.07	$17.57	$-1.93
10.4x	$87.99	$68.48	$48.98	$29.48	$9.98

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