YELP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($22.60)
DCF	$96.40	+326.5%
Graham Number	$24.45	+8.2%
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$21.87	-3.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $320.57M

Near-term growth (yrs 1–5)(%)Rev: -0.5% / EPS: -1.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.23%

Computed WACC: 7.23%

Cost of equity (Re)7.36%(Rf 4.30% + β 0.56 × 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)98.28%

Debt weight (D/V)1.72%

Results

Intrinsic Value / share$131.06

Current Price$22.60

Upside / Downside+479.9%

Net Debt (used)-$299.48M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$97.18	$115.85	$137.57	$162.70	$191.65
8.0%	$80.76	$95.78	$113.23	$133.41	$156.62
9.0%	$69.37	$81.88	$96.40	$113.15	$132.39
10.0%	$61.02	$71.69	$84.05	$98.30	$114.66
11.0%	$54.62	$63.89	$74.62	$86.96	$101.12

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.24

Book Value / share($)Yahoo: $11.86

Results

Graham Number$24.45

Current Price$22.60

Margin of Safety+8.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.23%

Terminal growth rate(%)

Computed WACC: 7.23%

Cost of equity (Re)7.36%(Rf 4.30% + β 0.56 × 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)98.28%

Debt weight (D/V)1.72%

Results

Current Price$22.60

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-0.5%

Historical Earnings Growth-1.2%

Base FCF (TTM)$320.57M

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$22.60

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $205.03M

Target EV/EBITDA multipleCurrent: 5.1×

Net Debt($B)Default: -$299.48M

Results

Implied Equity Value / share$21.87

Current Price$22.60

Upside / Downside-3.2%

Implied EV$1.05B

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

Mult \ Net Debt	-$2.30B	-$1.30B	-$299.48M	$700.52M	$1.70B
1.1x	$41.06	$24.80	$8.54	$-7.72	$-23.99
3.1x	$47.73	$31.47	$15.21	$-1.06	$-17.32
5.1x	$54.40	$38.14	$21.87	$5.61	$-10.65
7.1x	$61.07	$44.81	$28.54	$12.28	$-3.98
9.1x	$67.74	$51.47	$35.21	$18.95	$2.69

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