CBUS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.71)
DCF	$-17.22	-564.2%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$51.37M

Near-term growth (yrs 1–5)(%)Rev: -63.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.84%

Computed WACC: 6.84%

Cost of equity (Re)13.91%(Rf 4.30% + β 1.75 × 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)49.16%

Debt weight (D/V)50.84%

Results

Intrinsic Value / share$-24.10

Current Price$3.71

Upside / Downside-749.6%

Net Debt (used)$235.58M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-17.34	$-20.12	$-23.36	$-27.11	$-31.43
8.0%	$-14.89	$-17.13	$-19.73	$-22.74	$-26.21
9.0%	$-13.19	$-15.06	$-17.22	$-19.72	$-22.59
10.0%	$-11.94	$-13.54	$-15.38	$-17.51	$-19.95
11.0%	$-10.99	$-12.37	$-13.97	$-15.82	$-17.93

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.71

Book Value / share($)Yahoo: $0.96

Results

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

Graham Number—

Current Price$3.71

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.84%

Terminal growth rate(%)

Computed WACC: 6.84%

Cost of equity (Re)13.91%(Rf 4.30% + β 1.75 × 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)49.16%

Debt weight (D/V)50.84%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$3.71

Implied Near-term FCF Growth—

Historical Revenue Growth-63.1%

Historical Earnings Growth—

Base FCF (TTM)-$51.37M

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$3.71

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$65.75M

Target EV/EBITDA multipleCurrent: -6.6×

Net Debt($B)Default: $235.58M

Results

Implied Equity Value / share$2.99

Current Price$3.71

Upside / Downside-19.5%

Implied EV$432.78M

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