CCEL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.28)
DCF	$5.26	+60.3%
Graham Number	—	—
Reverse DCF	—	implied g: -1.2%
DDM	$12.36	+276.8%
EV/EBITDA	$3.40	+3.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $2.95M

Near-term growth (yrs 1–5)(%)Rev: -3.0% / EPS: -30.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.61%

Computed WACC: 11.61%

Cost of equity (Re)7.90%(Rf 4.30% + β 0.65 × ERP 5.50%)

Cost of debt (Rd)24.55%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.71%

Debt weight (D/V)32.29%

Results

Intrinsic Value / share$3.40

Current Price$3.28

Upside / Downside+3.6%

Net Debt (used)$9.38M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$5.31	$6.62	$8.15	$9.91	$11.94
8.0%	$4.16	$5.21	$6.44	$7.85	$9.48
9.0%	$3.36	$4.24	$5.26	$6.43	$7.78
10.0%	$2.77	$3.52	$4.39	$5.39	$6.54
11.0%	$2.33	$2.98	$3.73	$4.60	$5.59

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.06

Book Value / share($)Yahoo: $-1.84

Results

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

Graham Number—

Current Price$3.28

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.61%

Terminal growth rate(%)

Computed WACC: 11.61%

Cost of equity (Re)7.90%(Rf 4.30% + β 0.65 × ERP 5.50%)

Cost of debt (Rd)24.55%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.71%

Debt weight (D/V)32.29%

Results

Current Price$3.28

Implied Near-term FCF Growth4.5%

Historical Revenue Growth-3.0%

Historical Earnings Growth-30.8%

Base FCF (TTM)$2.95M

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: $0.60

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$12.36

Current Price$3.28

Upside / Downside+276.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $5.32M

Target EV/EBITDA multipleCurrent: 6.9×

Net Debt($B)Default: $9.38M

Results

Implied Equity Value / share$3.40

Current Price$3.28

Upside / Downside+3.7%

Implied EV$36.76M

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

Mult \ Net Debt	-$1.99B	-$990.62M	$9.38M	$1.01B	$2.01B
2.9x	$249.05	$124.90	$0.76	$-123.39	$-247.53
4.9x	$250.37	$126.22	$2.08	$-122.07	$-246.21
6.9x	$251.69	$127.54	$3.40	$-120.74	$-244.89
8.9x	$253.01	$128.87	$4.72	$-119.42	$-243.57
10.9x	$254.33	$130.19	$6.04	$-118.10	$-242.25

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