CLAR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.26)
DCF	$4.84	+48.5%
Graham Number	—	—
Reverse DCF	—	implied g: -2.4%
DDM	$2.06	-36.8%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $9.77M

Near-term growth (yrs 1–5)(%)Rev: 3.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.18%

Computed WACC: 9.18%

Cost of equity (Re)10.28%(Rf 4.30% + β 1.09 × 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)89.30%

Debt weight (D/V)10.70%

Results

Intrinsic Value / share$4.72

Current Price$3.26

Upside / Downside+44.8%

Net Debt (used)-$14.51M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$4.88	$5.79	$6.85	$8.08	$9.49
8.0%	$4.08	$4.81	$5.66	$6.65	$7.78
9.0%	$3.52	$4.13	$4.84	$5.66	$6.60
10.0%	$3.12	$3.64	$4.24	$4.94	$5.73
11.0%	$2.80	$3.26	$3.78	$4.38	$5.07

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.32

Book Value / share($)Yahoo: $5.88

Results

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

Graham Number—

Current Price$3.26

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.18%

Terminal growth rate(%)

Computed WACC: 9.18%

Cost of equity (Re)10.28%(Rf 4.30% + β 1.09 × 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)89.30%

Debt weight (D/V)10.70%

Results

Current Price$3.26

Implied Near-term FCF Growth-2.0%

Historical Revenue Growth3.3%

Historical Earnings Growth—

Base FCF (TTM)$9.77M

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: $0.10

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$2.06

Current Price$3.26

Upside / Downside-36.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$6.00M

Target EV/EBITDA multipleCurrent: -18.5×

Net Debt($B)Default: -$14.51M

Results

Implied Equity Value / share$3.26

Current Price$3.26

Upside / Downside-0.0%

Implied EV$110.67M

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