WRBY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($26.29)
DCF	$8.28	-68.5%
Graham Number	—	—
Reverse DCF	—	implied g: 32.6%
DDM	—	—
EV/EBITDA	$30.45	+15.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $32.60M

Near-term growth (yrs 1–5)(%)Rev: 11.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.56%

Computed WACC: 14.56%

Cost of equity (Re)15.62%(Rf 4.30% + β 2.06 × 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)93.23%

Debt weight (D/V)6.77%

Results

Intrinsic Value / share$4.47

Current Price$26.29

Upside / Downside-83.0%

Net Debt (used)-$53.21M

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

WACC \ Near-term	3.2%	7.2%	11.2%	15.2%	19.2%
7.0%	$8.61	$10.19	$12.01	$14.10	$16.49
8.0%	$7.09	$8.35	$9.80	$11.47	$13.37
9.0%	$6.04	$7.08	$8.28	$9.65	$11.22
10.0%	$5.27	$6.15	$7.17	$8.33	$9.65
11.0%	$4.69	$5.45	$6.32	$7.32	$8.46

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.00

Book Value / share($)Yahoo: $3.00

Results

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

Graham Number—

Current Price$26.29

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.56%

Terminal growth rate(%)

Computed WACC: 14.56%

Cost of equity (Re)15.62%(Rf 4.30% + β 2.06 × 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)93.23%

Debt weight (D/V)6.77%

Results

Current Price$26.29

Implied Near-term FCF Growth49.0%

Historical Revenue Growth11.2%

Historical Earnings Growth—

Base FCF (TTM)$32.60M

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$26.29

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $45.50M

Target EV/EBITDA multipleCurrent: 69.6×

Net Debt($B)Default: -$53.21M

Results

Implied Equity Value / share$30.45

Current Price$26.29

Upside / Downside+15.8%

Implied EV$3.17B

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

Mult \ Net Debt	-$2.05B	-$1.05B	-$53.21M	$946.79M	$1.95B
65.6x	$47.64	$38.18	$28.73	$19.27	$9.81
67.6x	$48.50	$39.05	$29.59	$20.13	$10.67
69.6x	$49.36	$39.91	$30.45	$20.99	$11.53
71.6x	$50.23	$40.77	$31.31	$21.85	$12.39
73.6x	$51.09	$41.63	$32.17	$22.71	$13.25

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