CMCT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.14)
DCF	$-187.42	-8858.0%
Graham Number	—	—
Reverse DCF	—	implied g: 12.4%
DDM	—	—
EV/EBITDA	$349.06	+16211.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $18.96M

Near-term growth (yrs 1–5)(%)Rev: -6.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.96%

Computed WACC: 5.96%

Cost of equity (Re)6.71%(Rf 4.30% + β 0.44 × ERP 5.50%)

Cost of debt (Rd)7.55%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)0.38%

Debt weight (D/V)99.62%

Results

Intrinsic Value / share$125.30

Current Price$2.14

Upside / Downside+5755.1%

Net Debt (used)$510.45M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-184.40	$-112.69	$-29.27	$67.28	$178.49
8.0%	$-247.50	$-189.78	$-122.74	$-45.24	$43.90
9.0%	$-291.22	$-243.16	$-187.42	$-123.08	$-49.15
10.0%	$-323.32	$-282.32	$-234.84	$-180.10	$-117.27
11.0%	$-347.89	$-312.27	$-271.08	$-223.65	$-169.28

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $57.41

Book Value / share($)Yahoo: $-58.20

Results

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

Graham Number—

Current Price$2.14

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.96%

Terminal growth rate(%)

Computed WACC: 5.96%

Cost of equity (Re)6.71%(Rf 4.30% + β 0.44 × ERP 5.50%)

Cost of debt (Rd)7.55%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)0.38%

Debt weight (D/V)99.62%

Results

Current Price$2.14

Implied Near-term FCF Growth1.8%

Historical Revenue Growth-6.7%

Historical Earnings Growth—

Base FCF (TTM)$18.96M

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$2.14

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $32.35M

Target EV/EBITDA multipleCurrent: 26.0×

Net Debt($B)Default: $510.45M

Results

Implied Equity Value / share$349.06

Current Price$2.14

Upside / Downside+16211.1%

Implied EV$841.02M

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

Mult \ Net Debt	-$1.49B	-$489.55M	$510.45M	$1.51B	$2.51B
22.0x	$2324.29	$1268.36	$212.43	$-843.50	$-1899.44
24.0x	$2392.61	$1336.68	$280.74	$-775.19	$-1831.12
26.0x	$2460.92	$1404.99	$349.06	$-706.87	$-1762.81
28.0x	$2529.24	$1473.31	$417.37	$-638.56	$-1694.49
30.0x	$2597.55	$1541.62	$485.69	$-570.25	$-1626.18

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