Overview
Discounted cash flow
Income / accounting-based
Multiples & assets
Scenario
Toolbox
Weighted blend
$207.33
-64.35% vs spot
Sell
Spot price
$581.64
Mkt cap $34.93B
subtle cardAnalyst PT consensus
$695.30
+19.54% vs spot
subtle cardMethods covered
20 / 21
17 in blend
subtle cardFootball field
MLM · fair-value range by method
Method comparison
MLM · fair value by valuation framework
| Method | Category | Fair value | Range | vs spot | Weight | Driver | Conf. |
|---|---|---|---|---|---|---|---|
| DCF · FCFF | dcf | $265.48 | $175.75 – $404.84 | -54.36% | 19.9% | WACC 7.4%, g₀=6.3%, gₗ=2.0% | high |
| DCF · FCFE | dcf | $201.91 | $157.60 – $264.31 | -65.29% | 14.9% | kₑ 9.5%, g₀=6.3%, gₗ=2.0% | high |
| DDM · Gordon | ddm | $41.90 | $36.99 – $48.32 | -92.80% | — | D₁ 3.09, kₑ 9.5%, gₗ 2.0% | med |
| DDM · H-model | ddm | $50.81 | $39.41 – $65.70 | -91.26% | — | D₀ 3.09, g₀=6.3%, gₗ=2.0%, H 5y | med |
| DDM · multi-stage | ddm | $46.20 | $39.27 – $53.13 | -92.06% | 5.0% | 5y schedule 6.3% → 2.0%, kₑ 9.5% | high |
| Residual income | income | $163.94 | $144.27 – $183.61 | -71.81% | 10.0% | BV 157.47, ROE 11.3% → kₑ | high |
| EVA / MVA | income | $266.15 | $234.21 – $298.09 | -54.24% | 7.0% | IC 15.3B, WACC 7.4% | high |
| Justified P/E | multiple | $108.60 | $92.31 – $124.89 | -81.33% | 6.0% | Fair P/E 5.8 (payout 17%, kₑ 9.5%, g 6.3%) | med |
| P/E · sector | multiple | $263.20 | $231.62 – $294.78 | -54.75% | 11.9% | EPS 18.80 × peer P/E 14.0 | med |
| Justified P/B | multiple | $246.59 | $209.60 – $283.58 | -57.60% | 5.0% | Fair P/B 1.57 · ROE 11.3%, kₑ 9.5% | high |
| P/S · sector | multiple | $154.05 | $130.94 – $177.16 | -73.51% | 3.0% | Rev/sh 102.70 × peer P/S 1.50 | med |
| EV / EBITDA | multiple | $221.76 | $195.15 – $248.37 | -61.87% | 10.0% | EBITDA × peer 9.0× − ND 5.3B | high |
| EV / EBIT | multiple | $175.48 | $149.16 – $201.81 | -69.83% | 2.0% | EBIT × peer 10.8× − ND | med |
| EV / Sales | multiple | $48.46 | $41.19 – $55.73 | -91.67% | 2.0% | Sales × peer 1.27× − ND | med |
| PEG-anchored | multiple | $94.00 | $79.90 – $108.10 | -83.84% | 1.0% | PEG=1, fwd EPS g 1.5% | med |
| Earnings power | intrinsic | $174.15 | $153.25 – $195.04 | -70.06% | 0.5% | NOPAT / WACC, no growth | med |
| Graham revised | intrinsic | $392.72 | $333.81 – $451.63 | -32.48% | 0.5% | EPS×(8.5+2g)·4.4/Y | low |
| Lynch P/E=g | intrinsic | $119.14 | $101.27 – $137.01 | -79.52% | 0.5% | PE = g (6.3) | low |
| Book NAV | asset | $157.47 | $149.60 – $165.35 | -72.93% | 1.0% | (Assets − Liabilities) / Shares | high |
| Liquidation | asset | $69.69 | $59.24 – $80.15 | -88.02% | — | Cash 100% + non-cash 70% − Liab. | low |
| Reverse DCF | reverse | — | — | — | — | Implied g 20.9% · Aggressive — well above sector trend | high |
Cost-of-capital build-up
CAPM cost of equity, after-tax cost of debt, WACC. Risk-free as of 2026-05-12.
| Risk-free rate (US 10y Treasury)rf | 4.46% |
| Equity beta (1.14)β | × 1.14 |
| Equity risk premiumERP | 4.46% |
| Cost of equity (CAPM)kₑ | 9.53% |
| Pre-tax cost of debtkd | 4.30% |
| Effective tax ratet | 20.4% |
| After-tax cost of debt | 3.43% |
| Equity weight$10.0B | 65.3% |
| Debt weight$5.3B | 34.7% |
| WACC | 7.41% |
Growth assumptions
Blended forward growth used as DCF default; terminal pegged to long-run nominal GDP.
| Analyst forward revenue growthFMP | 8.83% |
| Analyst forward EPS growthFMP | 1.54% |
| Historical 5y revenue CAGRFY | 4.85% |
| Historical 5y EPS CAGRFY | 13.77% |
| Sustainable g (ROE × retention)Δ | 9.37% |
| Blended near-term growth (g₀) | 6.34% |
| Terminal growth (gₗ) | 2.00% |
Sources
- FMP /analyst-estimates— 8 rows(as of 2021-12-30)
- Treasury rates · 10y— 4.46% rf(as of 2026-05-12)
- market_risk_premium · DB— 4.46% ERP(as of 2026-05-13)
- Sector multiple defaults— Basic Materials (live sector PE unavailable)
- FMP /price-target-consensus— mean $695.30
This page is generated by a quantitative valuation engine for research purposes only and does not constitute investment advice. Methodology follows standard CFA / Damodaran frameworks; assumptions are driven by analyst consensus from Financial Modeling Prep and reported financial statements.