CLVT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.35)
DCF	$7.51	+219.6%
Graham Number	—	—
Reverse DCF	—	implied g: -2.9%
DDM	—	—
EV/EBITDA	$2.23	-5.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $520.09M

Near-term growth (yrs 1–5)(%)Rev: -6.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.33%

Computed WACC: 3.33%

Cost of equity (Re)12.78%(Rf 4.30% + β 1.54 × 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)26.06%

Debt weight (D/V)73.94%

Results

Intrinsic Value / share$103.04

Current Price$2.35

Upside / Downside+4284.7%

Net Debt (used)$4.16B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$7.63	$10.44	$13.72	$17.51	$21.88
8.0%	$5.15	$7.42	$10.05	$13.09	$16.59
9.0%	$3.43	$5.32	$7.51	$10.04	$12.94
10.0%	$2.17	$3.78	$5.65	$7.80	$10.26
11.0%	$1.21	$2.61	$4.23	$6.09	$8.22

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.57

Book Value / share($)Yahoo: $7.56

Results

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

Graham Number—

Current Price$2.35

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.33%

Terminal growth rate(%)

Computed WACC: 3.33%

Cost of equity (Re)12.78%(Rf 4.30% + β 1.54 × 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)26.06%

Debt weight (D/V)73.94%

Results

Current Price$2.35

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-6.9%

Historical Earnings Growth—

Base FCF (TTM)$520.09M

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$2.35

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $929.30M

Target EV/EBITDA multipleCurrent: 6.1×

Net Debt($B)Default: $4.16B

Results

Implied Equity Value / share$2.23

Current Price$2.35

Upside / Downside-5.2%

Implied EV$5.64B

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

Mult \ Net Debt	$2.16B	$3.16B	$4.16B	$5.16B	$6.16B
2.1x	$-0.37	$-1.88	$-3.39	$-4.90	$-6.42
4.1x	$2.44	$0.93	$-0.58	$-2.09	$-3.61
6.1x	$5.25	$3.74	$2.23	$0.72	$-0.80
8.1x	$8.06	$6.55	$5.04	$3.53	$2.01
10.1x	$10.87	$9.36	$7.85	$6.34	$4.82

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