CBL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($37.22)
DCF	$-70.20	-288.6%
Graham Number	$34.75	-6.6%
Reverse DCF	—	—
DDM	$37.08	-0.4%
EV/EBITDA	$37.58	+1.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 18.8% / EPS: 26.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.31%

Computed WACC: 4.31%

Cost of equity (Re)12.51%(Rf 4.30% + β 1.49 × 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)34.47%

Debt weight (D/V)65.53%

Results

Intrinsic Value / share$-70.20

Current Price$37.22

Upside / Downside-288.6%

Net Debt (used)$2.13B

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

WACC \ Near-term	18.0%	22.0%	26.0%	30.0%	34.0%
7.0%	$-70.20	$-70.20	$-70.20	$-70.20	$-70.20
8.0%	$-70.20	$-70.20	$-70.20	$-70.20	$-70.20
9.0%	$-70.20	$-70.20	$-70.20	$-70.20	$-70.20
10.0%	$-70.20	$-70.20	$-70.20	$-70.20	$-70.20
11.0%	$-70.20	$-70.20	$-70.20	$-70.20	$-70.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.34

Book Value / share($)Yahoo: $12.37

Results

Graham Number$34.75

Current Price$37.22

Margin of Safety-6.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.31%

Terminal growth rate(%)

Computed WACC: 4.31%

Cost of equity (Re)12.51%(Rf 4.30% + β 1.49 × 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)34.47%

Debt weight (D/V)65.53%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$37.22

Implied Near-term FCF Growth—

Historical Revenue Growth18.8%

Historical Earnings Growth26.0%

Base FCF (TTM)—

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: $1.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$37.08

Current Price$37.22

Upside / Downside-0.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $320.65M

Target EV/EBITDA multipleCurrent: 10.2×

Net Debt($B)Default: $2.13B

Results

Implied Equity Value / share$37.58

Current Price$37.22

Upside / Downside+1.0%

Implied EV$3.27B

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

Mult \ Net Debt	$128.50M	$1.13B	$2.13B	$3.13B	$4.13B
6.2x	$61.24	$28.26	$-4.72	$-37.70	$-70.67
8.2x	$82.39	$49.41	$16.43	$-16.55	$-49.53
10.2x	$103.54	$70.56	$37.58	$4.60	$-28.38
12.2x	$124.69	$91.71	$58.73	$25.75	$-7.23
14.2x	$145.84	$112.86	$79.88	$46.90	$13.92

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