YORW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($33.09)
DCF	$-55.29	-267.1%
Graham Number	$22.71	-31.4%
Reverse DCF	—	—
DDM	$18.75	-43.3%
EV/EBITDA	$33.09	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$31.92M

Near-term growth (yrs 1–5)(%)Rev: 3.3% / EPS: 5.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.83%

Computed WACC: 6.83%

Cost of equity (Re)8.34%(Rf 4.30% + β 0.73 × ERP 5.50%)

Cost of debt (Rd)4.62%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.71%

Debt weight (D/V)32.29%

Results

Intrinsic Value / share$-75.29

Current Price$33.09

Upside / Downside-327.5%

Net Debt (used)$227.83M

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

WACC \ Near-term	-2.7%	1.3%	5.3%	9.3%	13.3%
7.0%	$-55.63	$-63.67	$-73.02	$-83.84	$-96.30
8.0%	$-48.52	$-54.99	$-62.51	$-71.19	$-81.17
9.0%	$-43.60	$-48.98	$-55.23	$-62.44	$-70.71
10.0%	$-39.98	$-44.58	$-49.90	$-56.03	$-63.06
11.0%	$-37.22	$-41.21	$-45.82	$-51.13	$-57.21

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.39

Book Value / share($)Yahoo: $16.49

Results

Graham Number$22.71

Current Price$33.09

Margin of Safety-31.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.83%

Terminal growth rate(%)

Computed WACC: 6.83%

Cost of equity (Re)8.34%(Rf 4.30% + β 0.73 × ERP 5.50%)

Cost of debt (Rd)4.62%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.71%

Debt weight (D/V)32.29%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$33.09

Implied Near-term FCF Growth—

Historical Revenue Growth3.3%

Historical Earnings Growth5.3%

Base FCF (TTM)-$31.92M

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: $0.91

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$18.75

Current Price$33.09

Upside / Downside-43.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $42.50M

Target EV/EBITDA multipleCurrent: 16.6×

Net Debt($B)Default: $227.83M

Results

Implied Equity Value / share$33.09

Current Price$33.09

Upside / Downside+0.0%

Implied EV$705.49M

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

Mult \ Net Debt	-$1.77B	-$772.17M	$227.83M	$1.23B	$2.23B
12.6x	$159.87	$90.59	$21.31	$-47.96	$-117.24
14.6x	$165.76	$96.48	$27.20	$-42.08	$-111.35
16.6x	$171.65	$102.37	$33.09	$-36.19	$-105.46
18.6x	$177.54	$108.26	$38.98	$-30.30	$-99.58
20.6x	$183.42	$114.15	$44.87	$-24.41	$-93.69

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