CDNA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($18.75)
DCF	$52.62	+180.7%
Graham Number	$13.09	-30.1%
Reverse DCF	—	implied g: 5.2%
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: $45.75M

Near-term growth (yrs 1–5)(%)Rev: 25.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 18.04%

Computed WACC: 18.04%

Cost of equity (Re)18.52%(Rf 4.30% + β 2.58 × 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)97.44%

Debt weight (D/V)2.56%

Results

Intrinsic Value / share$19.68

Current Price$18.75

Upside / Downside+5.0%

Net Debt (used)-$151.01M

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

WACC \ Near-term	17.2%	21.2%	25.2%	29.2%	33.2%
7.0%	$58.25	$67.95	$78.99	$91.51	$105.65
8.0%	$46.99	$54.65	$63.35	$73.21	$84.34
9.0%	$39.27	$45.51	$52.62	$60.66	$69.73
10.0%	$33.65	$38.88	$44.82	$51.55	$59.13
11.0%	$29.40	$33.86	$38.93	$44.65	$51.11

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.28

Book Value / share($)Yahoo: $5.95

Results

Graham Number$13.09

Current Price$18.75

Margin of Safety-30.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 18.04%

Terminal growth rate(%)

Computed WACC: 18.04%

Cost of equity (Re)18.52%(Rf 4.30% + β 2.58 × 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)97.44%

Debt weight (D/V)2.56%

Results

Current Price$18.75

Implied Near-term FCF Growth24.0%

Historical Revenue Growth25.2%

Historical Earnings Growth—

Base FCF (TTM)$45.75M

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$18.75

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$7.79M

Target EV/EBITDA multipleCurrent: -103.8×

Net Debt($B)Default: -$151.01M

Results

Implied Equity Value / share$18.67

Current Price$18.75

Upside / Downside-0.4%

Implied EV$809.04M

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