CIFR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($15.76)
DCF	$-505.93	-3310.2%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$15.84	+0.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$1.52B

Near-term growth (yrs 1–5)(%)Rev: 41.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.40%

Computed WACC: 14.40%

Cost of equity (Re)20.65%(Rf 4.30% + β 2.97 × 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)69.76%

Debt weight (D/V)30.24%

Results

Intrinsic Value / share$-228.13

Current Price$15.76

Upside / Downside-1547.5%

Net Debt (used)$2.14B

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

WACC \ Near-term	33.4%	37.4%	41.4%	45.4%	49.4%
7.0%	$-596.37	$-688.49	$-791.86	$-907.48	$-1036.42
8.0%	$-469.35	$-541.29	$-622.00	$-712.24	$-812.84
9.0%	$-382.54	$-440.70	$-505.93	$-578.84	$-660.11
10.0%	$-319.78	$-367.99	$-422.04	$-482.44	$-549.73
11.0%	$-272.52	$-313.24	$-358.88	$-409.87	$-466.66

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.15

Book Value / share($)Yahoo: $1.99

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$15.76

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.40%

Terminal growth rate(%)

Computed WACC: 14.40%

Cost of equity (Re)20.65%(Rf 4.30% + β 2.97 × 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)69.76%

Debt weight (D/V)30.24%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$15.76

Implied Near-term FCF Growth—

Historical Revenue Growth41.4%

Historical Earnings Growth—

Base FCF (TTM)-$1.52B

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$15.76

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $236.51M

Target EV/EBITDA multipleCurrent: 36.2×

Net Debt($B)Default: $2.14B

Results

Implied Equity Value / share$15.84

Current Price$15.76

Upside / Downside+0.5%

Implied EV$8.55B

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

Mult \ Net Debt	$138.78M	$1.14B	$2.14B	$3.14B	$4.14B
32.2x	$18.44	$15.97	$13.50	$11.03	$8.56
34.2x	$19.60	$17.14	$14.67	$12.20	$9.73
36.2x	$20.77	$18.30	$15.84	$13.37	$10.90
38.2x	$21.94	$19.47	$17.00	$14.53	$12.07
40.2x	$23.11	$20.64	$18.17	$15.70	$13.23

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