WLYB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($31.25)
DCF	$445.48	+1325.6%
Graham Number	$24.31	-22.2%
Reverse DCF	—	implied g: -10.5%
DDM	$29.25	-6.4%
EV/EBITDA	$187.78	+500.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $166.83M

Near-term growth (yrs 1–5)(%)Rev: -1.1% / EPS: 13.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.01%

Computed WACC: 6.01%

Cost of equity (Re)9.55%(Rf 4.30% + β 0.95 × 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)62.94%

Debt weight (D/V)37.06%

Results

Intrinsic Value / share$963.05

Current Price$31.25

Upside / Downside+2981.8%

Net Debt (used)$899.39M

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

WACC \ Near-term	5.5%	9.5%	13.5%	17.5%	21.5%
7.0%	$476.99	$587.67	$715.18	$861.40	$1028.35
8.0%	$366.35	$454.55	$556.05	$672.35	$805.02
9.0%	$290.05	$362.79	$446.41	$542.13	$651.24
10.0%	$234.34	$295.82	$366.42	$447.17	$539.14
11.0%	$191.93	$244.86	$305.60	$374.99	$453.96

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.87

Book Value / share($)Yahoo: $14.05

Results

Graham Number$24.31

Current Price$31.25

Margin of Safety-22.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.01%

Terminal growth rate(%)

Computed WACC: 6.01%

Cost of equity (Re)9.55%(Rf 4.30% + β 0.95 × 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)62.94%

Debt weight (D/V)37.06%

Results

Current Price$31.25

Implied Near-term FCF Growth-18.2%

Historical Revenue Growth-1.1%

Historical Earnings Growth13.5%

Base FCF (TTM)$166.83M

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: $1.42

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$29.25

Current Price$31.25

Upside / Downside-6.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $314.45M

Target EV/EBITDA multipleCurrent: 8.1×

Net Debt($B)Default: $899.39M

Results

Implied Equity Value / share$187.78

Current Price$31.25

Upside / Downside+500.9%

Implied EV$2.55B

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

Mult \ Net Debt	-$1.10B	-$100.61M	$899.39M	$1.90B	$2.90B
4.1x	$272.45	$158.37	$44.29	$-69.78	$-183.86
6.1x	$344.19	$230.11	$116.04	$1.96	$-112.12
8.1x	$415.93	$301.85	$187.78	$73.70	$-40.38
10.1x	$487.67	$373.60	$259.52	$145.44	$31.37
12.1x	$559.42	$445.34	$331.26	$217.19	$103.11

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