CDRE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($46.07)
DCF	$48194.29	+104511.0%
Graham Number	$14.46	-68.6%
Reverse DCF	—	implied g: 26.5%
DDM	$8.03	-82.6%
EV/EBITDA	$46.07	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $34.36M

Near-term growth (yrs 1–5)(%)Rev: 42.5% / EPS: 198.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.97%

Computed WACC: 9.97%

Cost of equity (Re)11.77%(Rf 4.30% + β 1.36 × 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)84.72%

Debt weight (D/V)15.28%

Results

Intrinsic Value / share$39174.39

Current Price$46.07

Upside / Downside+84932.3%

Net Debt (used)$185.20M

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

WACC \ Near-term	190.9%	194.9%	198.9%	202.9%	206.9%
7.0%	$70391.63	$75364.91	$80615.39	$86154.51	$91994.01
8.0%	$53529.39	$57311.07	$61303.53	$65515.45	$69955.76
9.0%	$42134.36	$45110.81	$48253.14	$51568.19	$55062.99
10.0%	$33997.80	$36399.28	$38934.59	$41609.25	$44428.93
11.0%	$27952.27	$29926.56	$32010.87	$34209.72	$36527.78

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.11

Book Value / share($)Yahoo: $8.37

Results

Graham Number$14.46

Current Price$46.07

Margin of Safety-68.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.97%

Terminal growth rate(%)

Computed WACC: 9.97%

Cost of equity (Re)11.77%(Rf 4.30% + β 1.36 × 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)84.72%

Debt weight (D/V)15.28%

Results

Current Price$46.07

Implied Near-term FCF Growth29.6%

Historical Revenue Growth42.5%

Historical Earnings Growth198.9%

Base FCF (TTM)$34.36M

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: $0.39

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$8.03

Current Price$46.07

Upside / Downside-82.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $104.78M

Target EV/EBITDA multipleCurrent: 19.7×

Net Debt($B)Default: $185.20M

Results

Implied Equity Value / share$46.07

Current Price$46.07

Upside / Downside-0.0%

Implied EV$2.06B

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

Mult \ Net Debt	-$1.81B	-$814.80M	$185.20M	$1.19B	$2.19B
15.7x	$84.93	$60.35	$35.77	$11.19	$-13.40
17.7x	$90.08	$65.50	$40.92	$16.34	$-8.24
19.7x	$95.23	$70.65	$46.07	$21.49	$-3.09
21.7x	$100.38	$75.80	$51.22	$26.64	$2.06
23.7x	$105.53	$80.95	$56.37	$31.79	$7.21

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