CHE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($417.85)
DCF	$309.95	-25.8%
Graham Number	$171.64	-58.9%
Reverse DCF	—	implied g: 10.0%
DDM	$47.38	-88.7%
EV/EBITDA	$423.06	+1.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $246.01M

Near-term growth (yrs 1–5)(%)Rev: -0.1% / EPS: -9.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.68%

Computed WACC: 6.68%

Cost of equity (Re)6.82%(Rf 4.30% + β 0.46 × ERP 5.50%)

Cost of debt (Rd)1.22%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.62%

Debt weight (D/V)2.38%

Results

Intrinsic Value / share$486.92

Current Price$417.85

Upside / Downside+16.5%

Net Debt (used)$69.24M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$312.66	$376.91	$451.65	$538.16	$637.80
8.0%	$256.13	$307.84	$367.91	$437.34	$517.21
9.0%	$216.95	$260.01	$309.95	$367.60	$433.84
10.0%	$188.19	$224.93	$267.47	$316.51	$372.80
11.0%	$166.18	$198.09	$235.00	$277.49	$326.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $18.33

Book Value / share($)Yahoo: $71.44

Results

Graham Number$171.64

Current Price$417.85

Margin of Safety-58.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.68%

Terminal growth rate(%)

Computed WACC: 6.68%

Cost of equity (Re)6.82%(Rf 4.30% + β 0.46 × ERP 5.50%)

Cost of debt (Rd)1.22%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.62%

Debt weight (D/V)2.38%

Results

Current Price$417.85

Implied Near-term FCF Growth2.6%

Historical Revenue Growth-0.1%

Historical Earnings Growth-9.1%

Base FCF (TTM)$246.01M

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: $2.30

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$47.38

Current Price$417.85

Upside / Downside-88.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $404.40M

Target EV/EBITDA multipleCurrent: 14.5×

Net Debt($B)Default: $69.24M

Results

Implied Equity Value / share$423.06

Current Price$417.85

Upside / Downside+1.2%

Implied EV$5.87B

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

Mult \ Net Debt	-$1.93B	-$930.76M	$69.24M	$1.07B	$2.07B
10.5x	$450.95	$378.02	$305.08	$232.15	$159.21
12.5x	$509.94	$437.01	$364.07	$291.14	$218.20
14.5x	$568.93	$496.00	$423.06	$350.13	$277.19
16.5x	$627.92	$554.98	$482.05	$409.12	$336.18
18.5x	$686.91	$613.97	$541.04	$468.10	$395.17

← Overview Financial Statements ← Companies