CHH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($104.15)
DCF	$21.98	-78.9%
Graham Number	$26.56	-74.5%
Reverse DCF	—	implied g: 19.1%
DDM	$23.69	-77.3%
EV/EBITDA	$103.37	-0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $170.18M

Near-term growth (yrs 1–5)(%)Rev: 2.4% / EPS: -13.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.02%

Computed WACC: 6.02%

Cost of equity (Re)8.55%(Rf 4.30% + β 0.77 × 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)70.44%

Debt weight (D/V)29.56%

Results

Intrinsic Value / share$77.68

Current Price$104.15

Upside / Downside-25.4%

Net Debt (used)$1.98B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$22.53	$35.79	$51.21	$69.06	$89.62
8.0%	$10.87	$21.54	$33.93	$48.26	$64.74
9.0%	$2.79	$11.67	$21.98	$33.87	$47.54
10.0%	$-3.14	$4.43	$13.21	$23.33	$34.94
11.0%	$-7.69	$-1.10	$6.51	$15.28	$25.33

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $7.90

Book Value / share($)Yahoo: $3.97

Results

Graham Number$26.56

Current Price$104.15

Margin of Safety-74.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.02%

Terminal growth rate(%)

Computed WACC: 6.02%

Cost of equity (Re)8.55%(Rf 4.30% + β 0.77 × 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)70.44%

Debt weight (D/V)29.56%

Results

Current Price$104.15

Implied Near-term FCF Growth8.1%

Historical Revenue Growth2.4%

Historical Earnings Growth-13.6%

Base FCF (TTM)$170.18M

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: $1.15

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$23.69

Current Price$104.15

Upside / Downside-77.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $505.92M

Target EV/EBITDA multipleCurrent: 13.3×

Net Debt($B)Default: $1.98B

Results

Implied Equity Value / share$103.37

Current Price$104.15

Upside / Downside-0.7%

Implied EV$6.73B

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

Mult \ Net Debt	$1.98B	$1.98B	$1.98B	$1.98B	$1.98B
9.3x	$59.35	$59.35	$59.35	$59.35	$59.35
11.3x	$81.36	$81.36	$81.36	$81.36	$81.36
13.3x	$103.37	$103.37	$103.37	$103.37	$103.37
15.3x	$125.38	$125.38	$125.38	$125.38	$125.38
17.3x	$147.40	$147.40	$147.40	$147.40	$147.40

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