CHRD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($115.30)
DCF	$159.28	+38.1%
Graham Number	$97.37	-15.6%
Reverse DCF	—	implied g: 0.3%
DDM	$107.12	-7.1%
EV/EBITDA	$113.26	-1.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $591.16M

Near-term growth (yrs 1–5)(%)Rev: -19.4% / EPS: -56.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.69%

Computed WACC: 6.69%

Cost of equity (Re)8.22%(Rf 4.30% + β 0.71 × 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)81.38%

Debt weight (D/V)18.62%

Results

Intrinsic Value / share$261.13

Current Price$115.30

Upside / Downside+126.5%

Net Debt (used)$1.32B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$160.85	$198.08	$241.38	$291.51	$349.24
8.0%	$128.10	$158.06	$192.86	$233.09	$279.37
9.0%	$105.40	$130.35	$159.28	$192.69	$231.07
10.0%	$88.74	$110.02	$134.67	$163.08	$195.70
11.0%	$75.98	$94.47	$115.86	$140.48	$168.70

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.96

Book Value / share($)Yahoo: $142.35

Results

Graham Number$97.37

Current Price$115.30

Margin of Safety-15.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.69%

Terminal growth rate(%)

Computed WACC: 6.69%

Cost of equity (Re)8.22%(Rf 4.30% + β 0.71 × 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)81.38%

Debt weight (D/V)18.62%

Results

Current Price$115.30

Implied Near-term FCF Growth-6.3%

Historical Revenue Growth-19.4%

Historical Earnings Growth-56.9%

Base FCF (TTM)$591.16M

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: $5.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$107.12

Current Price$115.30

Upside / Downside-7.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.34B

Target EV/EBITDA multipleCurrent: 3.3×

Net Debt($B)Default: $1.32B

Results

Implied Equity Value / share$113.26

Current Price$115.30

Upside / Downside-1.8%

Implied EV$7.76B

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

Mult \ Net Debt	$1.32B	$1.32B	$1.32B	$1.32B	$1.32B
-0.7x	$-51.03	$-51.03	$-51.03	$-51.03	$-51.03
1.3x	$31.11	$31.11	$31.11	$31.11	$31.11
3.3x	$113.26	$113.26	$113.26	$113.26	$113.26
5.3x	$195.40	$195.40	$195.40	$195.40	$195.40
7.3x	$277.55	$277.55	$277.55	$277.55	$277.55

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