CHRW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($187.24)
DCF	$99.48	-46.9%
Graham Number	$41.15	-78.0%
Reverse DCF	—	implied g: 15.1%
DDM	$51.91	-72.3%
EV/EBITDA	$187.24	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $742.47M

Near-term growth (yrs 1–5)(%)Rev: -6.5% / EPS: -8.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.68%

Computed WACC: 8.68%

Cost of equity (Re)9.23%(Rf 4.30% + β 0.90 × 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)94.09%

Debt weight (D/V)5.91%

Results

Intrinsic Value / share$105.24

Current Price$187.24

Upside / Downside-43.8%

Net Debt (used)$1.23B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$100.43	$122.84	$148.91	$179.09	$213.85
8.0%	$80.70	$98.74	$119.70	$143.92	$171.78
9.0%	$67.04	$82.06	$99.48	$119.59	$142.70
10.0%	$57.01	$69.82	$84.66	$101.77	$121.41
11.0%	$49.32	$60.46	$73.33	$88.16	$105.15

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.83

Book Value / share($)Yahoo: $15.58

Results

Graham Number$41.15

Current Price$187.24

Margin of Safety-78.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.68%

Terminal growth rate(%)

Computed WACC: 8.68%

Cost of equity (Re)9.23%(Rf 4.30% + β 0.90 × 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)94.09%

Debt weight (D/V)5.91%

Results

Current Price$187.24

Implied Near-term FCF Growth14.1%

Historical Revenue Growth-6.5%

Historical Earnings Growth-8.5%

Base FCF (TTM)$742.47M

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: $2.52

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$51.91

Current Price$187.24

Upside / Downside-72.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $874.99M

Target EV/EBITDA multipleCurrent: 26.8×

Net Debt($B)Default: $1.23B

Results

Implied Equity Value / share$187.24

Current Price$187.24

Upside / Downside+0.0%

Implied EV$23.45B

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

Mult \ Net Debt	$1.23B	$1.23B	$1.23B	$1.23B	$1.23B
22.8x	$157.74	$157.74	$157.74	$157.74	$157.74
24.8x	$172.49	$172.49	$172.49	$172.49	$172.49
26.8x	$187.24	$187.24	$187.24	$187.24	$187.24
28.8x	$202.00	$202.00	$202.00	$202.00	$202.00
30.8x	$216.75	$216.75	$216.75	$216.75	$216.75

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