CHWY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($27.07)
DCF	$251412319518.07	+928748871411.1%
Graham Number	$3.53	-86.9%
Reverse DCF	—	implied g: 4.7%
DDM	—	—
EV/EBITDA	$47.10	+74.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $365.24M

Near-term growth (yrs 1–5)(%)Rev: 8.3% / EPS: 1387.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.50%

Computed WACC: 12.50%

Cost of equity (Re)13.08%(Rf 4.30% + β 1.60 × ERP 5.50%)

Cost of debt (Rd)0.99%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)95.26%

Debt weight (D/V)4.74%

Results

Intrinsic Value / share$123592174329.39

Current Price$27.07

Upside / Downside+456565106399.4%

Net Debt (used)-$142.60M

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

WACC \ Near-term	1379.6%	1383.6%	1387.6%	1391.6%	1395.6%
7.0%	$416386027313.06	$422044900691.10	$427765132824.04	$433547221346.17	$439391666575.13
8.0%	$313775448873.61	$318039798304.68	$322350385767.92	$326707586264.92	$331111776819.35
9.0%	$244724426934.86	$248050341899.04	$251412319518.07	$254810652268.77	$258245634205.07
10.0%	$195644824110.81	$198303725184.13	$200991456528.76	$203708251965.13	$206454346574.51
11.0%	$159357907850.65	$161523653402.16	$163712881975.22	$165925784022.76	$168162551024.71

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.49

Book Value / share($)Yahoo: $1.13

Results

Graham Number$3.53

Current Price$27.07

Margin of Safety-86.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.50%

Terminal growth rate(%)

Computed WACC: 12.50%

Cost of equity (Re)13.08%(Rf 4.30% + β 1.60 × ERP 5.50%)

Cost of debt (Rd)0.99%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)95.26%

Debt weight (D/V)4.74%

Results

Current Price$27.07

Implied Near-term FCF Growth12.9%

Historical Revenue Growth8.3%

Historical Earnings Growth1387.6%

Base FCF (TTM)$365.24M

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$27.07

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $285.34M

Target EV/EBITDA multipleCurrent: 38.9×

Net Debt($B)Default: -$142.60M

Results

Implied Equity Value / share$47.10

Current Price$27.07

Upside / Downside+74.0%

Implied EV$11.09B

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

Mult \ Net Debt	-$2.14B	-$1.14B	-$142.60M	$857.40M	$1.86B
34.9x	$50.70	$46.51	$42.31	$38.12	$33.93
36.9x	$53.09	$48.90	$44.71	$40.51	$36.32
38.9x	$55.48	$51.29	$47.10	$42.91	$38.71
40.9x	$57.88	$53.68	$49.49	$45.30	$41.11
42.9x	$60.27	$56.08	$51.88	$47.69	$43.50

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