CAPL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($20.59)
DCF	$1.57	-92.4%
Graham Number	—	—
Reverse DCF	—	implied g: 15.4%
DDM	$43.26	+110.1%
EV/EBITDA	$21.39	+3.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $49.82M

Near-term growth (yrs 1–5)(%)Rev: -8.5% / EPS: -40.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.72%

Computed WACC: 5.72%

Cost of equity (Re)6.28%(Rf 4.30% + β 0.36 × ERP 5.50%)

Cost of debt (Rd)6.57%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)48.95%

Debt weight (D/V)51.05%

Results

Intrinsic Value / share$25.23

Current Price$20.59

Upside / Downside+22.6%

Net Debt (used)$814.78M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$1.77	$6.45	$11.89	$18.19	$25.45
8.0%	$-2.35	$1.42	$5.79	$10.85	$16.67
9.0%	$-5.20	$-2.07	$1.57	$5.77	$10.60
10.0%	$-7.30	$-4.62	$-1.52	$2.05	$6.15
11.0%	$-8.90	$-6.58	$-3.89	$-0.79	$2.75

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.21

Book Value / share($)Yahoo: $-2.68

Results

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

Graham Number—

Current Price$20.59

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.72%

Terminal growth rate(%)

Computed WACC: 5.72%

Cost of equity (Re)6.28%(Rf 4.30% + β 0.36 × ERP 5.50%)

Cost of debt (Rd)6.57%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)48.95%

Debt weight (D/V)51.05%

Results

Current Price$20.59

Implied Near-term FCF Growth3.4%

Historical Revenue Growth-8.5%

Historical Earnings Growth-40.5%

Base FCF (TTM)$49.82M

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: $2.10

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$43.26

Current Price$20.59

Upside / Downside+110.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $143.58M

Target EV/EBITDA multipleCurrent: 11.4×

Net Debt($B)Default: $814.78M

Results

Implied Equity Value / share$21.39

Current Price$20.59

Upside / Downside+3.9%

Implied EV$1.63B

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

Mult \ Net Debt	-$1.19B	-$185.22M	$814.78M	$1.81B	$2.81B
7.4x	$58.79	$32.56	$6.33	$-19.91	$-46.14
9.4x	$66.32	$40.09	$13.86	$-12.37	$-38.61
11.4x	$73.86	$47.62	$21.39	$-4.84	$-31.07
13.4x	$81.39	$55.16	$28.92	$2.69	$-23.54
15.4x	$88.92	$62.69	$36.46	$10.23	$-16.01

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