CMS-PC

CMS-PC — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($17.83)
DCF$-65234015861.85-365866606167.6%
Graham Number$55.29+210.1%
Reverse DCF
DDM$21.63+21.3%
EV/EBITDA$6263306715.14+35127911931.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$1.74B
Rev: 12.3% / EPS: 6.6%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-65312857579.61
Current Price$17.83
Upside / Downside-366308791909.4%
Net Debt (used)$18.41B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term4.3%8.3%12.3%16.3%20.3%
7.0%$-67624952691.79$-77102261521.69$-88035326760.65$-100588504335.41$-114938158086.64
8.0%$-58309786672.51$-65871541024.90$-74585369124.42$-84580821319.21$-95996890711.00
9.0%$-51882180283.69$-58125799477.05$-65312857579.61$-73549016290.54$-82947620613.51
10.0%$-47185608193.98$-52469085332.33$-58544306918.15$-65499584820.45$-73429637290.56
11.0%$-43607913836.99$-48162519573.24$-53393947162.08$-59377380398.68$-66193444027.79

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $4.67
Yahoo: $29.11

Results

Graham Number$55.29
Current Price$17.83
Margin of Safety+210.1%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$17.83
Implied Near-term FCF Growth
Historical Revenue Growth12.3%
Historical Earnings Growth6.6%
Base FCF (TTM)-$1.74B
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

Yahoo: $1.05

Results

DDM Intrinsic Value / share$21.63
Current Price$17.83
Upside / Downside+21.3%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $3.02B
Current: 8.2×
Default: $18.41B

Results

Implied Equity Value / share$6263306715.14
Current Price$17.83
Upside / Downside+35127911931.0%
Implied EV$24.68B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$8.41B$13.41B$18.41B$23.41B$28.41B
4.2x$4187306459.14$-812693540.86$-5812693540.86$-10812693540.86$-15812693540.86
6.2x$10225306587.14$5225306587.14$225306587.14$-4774693412.86$-9774693412.86
8.2x$16263306715.14$11263306715.14$6263306715.14$1263306715.14$-3736693284.86
10.2x$22301306843.14$17301306843.14$12301306843.14$7301306843.14$2301306843.14
12.2x$28339306971.14$23339306971.14$18339306971.14$13339306971.14$8339306971.14