WYNN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($103.02)
DCF	$-98.44	-195.6%
Graham Number	—	—
Reverse DCF	—	—
DDM	$20.60	-80.0%
EV/EBITDA	$95.00	-7.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 1.5% / EPS: -65.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.67%

Computed WACC: 4.67%

Cost of equity (Re)9.99%(Rf 4.30% + β 1.03 × 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)46.76%

Debt weight (D/V)53.24%

Results

Intrinsic Value / share$-98.44

Current Price$103.02

Upside / Downside-195.6%

Net Debt (used)$10.24B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-98.44	$-98.44	$-98.44	$-98.44	$-98.44
8.0%	$-98.44	$-98.44	$-98.44	$-98.44	$-98.44
9.0%	$-98.44	$-98.44	$-98.44	$-98.44	$-98.44
10.0%	$-98.44	$-98.44	$-98.44	$-98.44	$-98.44
11.0%	$-98.44	$-98.44	$-98.44	$-98.44	$-98.44

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.14

Book Value / share($)Yahoo: $-3.59

Results

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

Graham Number—

Current Price$103.02

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.67%

Terminal growth rate(%)

Computed WACC: 4.67%

Cost of equity (Re)9.99%(Rf 4.30% + β 1.03 × 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)46.76%

Debt weight (D/V)53.24%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$103.02

Implied Near-term FCF Growth—

Historical Revenue Growth1.5%

Historical Earnings Growth-65.2%

Base FCF (TTM)—

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: $1.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$20.60

Current Price$103.02

Upside / Downside-80.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.73B

Target EV/EBITDA multipleCurrent: 11.6×

Net Debt($B)Default: $10.24B

Results

Implied Equity Value / share$95.00

Current Price$103.02

Upside / Downside-7.8%

Implied EV$20.11B

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

Mult \ Net Debt	$4.24B	$7.24B	$10.24B	$13.24B	$16.24B
7.6x	$86.03	$57.17	$28.32	$-0.53	$-29.39
9.6x	$119.37	$90.51	$61.66	$32.81	$3.95
11.6x	$152.71	$123.85	$95.00	$66.15	$37.29
13.6x	$186.05	$157.19	$128.34	$99.49	$70.63
15.6x	$219.39	$190.53	$161.68	$132.83	$103.97

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