CAKE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($62.95)
DCF	$3.49	-94.5%
Graham Number	$24.60	-60.9%
Reverse DCF	—	implied g: 20.3%
DDM	$24.72	-60.7%
EV/EBITDA	$55.36	-12.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $118.93M

Near-term growth (yrs 1–5)(%)Rev: 4.4% / EPS: -27.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.68%

Computed WACC: 5.68%

Cost of equity (Re)9.54%(Rf 4.30% + β 0.95 × 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)59.57%

Debt weight (D/V)40.43%

Results

Intrinsic Value / share$47.75

Current Price$62.95

Upside / Downside-24.1%

Net Debt (used)$1.91B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$3.85	$12.39	$22.33	$33.83	$47.07
8.0%	$-3.67	$3.21	$11.19	$20.42	$31.04
9.0%	$-8.88	$-3.15	$3.49	$11.15	$19.96
10.0%	$-12.70	$-7.82	$-2.16	$4.36	$11.84
11.0%	$-15.63	$-11.38	$-6.48	$-0.83	$5.65

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.06

Book Value / share($)Yahoo: $8.79

Results

Graham Number$24.60

Current Price$62.95

Margin of Safety-60.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.68%

Terminal growth rate(%)

Computed WACC: 5.68%

Cost of equity (Re)9.54%(Rf 4.30% + β 0.95 × 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)59.57%

Debt weight (D/V)40.43%

Results

Current Price$62.95

Implied Near-term FCF Growth7.5%

Historical Revenue Growth4.4%

Historical Earnings Growth-27.9%

Base FCF (TTM)$118.93M

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: $1.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$24.72

Current Price$62.95

Upside / Downside-60.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $333.16M

Target EV/EBITDA multipleCurrent: 14.0×

Net Debt($B)Default: $1.91B

Results

Implied Equity Value / share$55.36

Current Price$62.95

Upside / Downside-12.1%

Implied EV$4.67B

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

Mult \ Net Debt	$1.91B	$1.91B	$1.91B	$1.91B	$1.91B
10.0x	$28.64	$28.64	$28.64	$28.64	$28.64
12.0x	$42.00	$42.00	$42.00	$42.00	$42.00
14.0x	$55.36	$55.36	$55.36	$55.36	$55.36
16.0x	$68.73	$68.73	$68.73	$68.73	$68.73
18.0x	$82.09	$82.09	$82.09	$82.09	$82.09

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