CMT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($19.76)
DCF	$10.72	-45.7%
Graham Number	$20.31	+2.8%
Reverse DCF	—	implied g: 17.4%
DDM	—	—
EV/EBITDA	$19.76	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $4.20M

Near-term growth (yrs 1–5)(%)Rev: -19.9% / EPS: -39.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.81%

Computed WACC: 5.81%

Cost of equity (Re)6.65%(Rf 4.30% + β 0.43 × 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)87.38%

Debt weight (D/V)12.62%

Results

Intrinsic Value / share$19.12

Current Price$19.76

Upside / Downside-3.2%

Net Debt (used)-$18.11M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$10.80	$12.55	$14.60	$16.96	$19.68
8.0%	$9.25	$10.67	$12.31	$14.20	$16.39
9.0%	$8.18	$9.36	$10.72	$12.30	$14.11
10.0%	$7.40	$8.40	$9.56	$10.90	$12.44
11.0%	$6.79	$7.67	$8.68	$9.84	$11.17

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.01

Book Value / share($)Yahoo: $18.16

Results

Graham Number$20.31

Current Price$19.76

Margin of Safety+2.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.81%

Terminal growth rate(%)

Computed WACC: 5.81%

Cost of equity (Re)6.65%(Rf 4.30% + β 0.43 × 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)87.38%

Debt weight (D/V)12.62%

Results

Current Price$19.76

Implied Near-term FCF Growth5.6%

Historical Revenue Growth-19.9%

Historical Earnings Growth-39.1%

Base FCF (TTM)$4.20M

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$19.76

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $28.19M

Target EV/EBITDA multipleCurrent: 5.4×

Net Debt($B)Default: -$18.11M

Results

Implied Equity Value / share$19.76

Current Price$19.76

Upside / Downside+0.0%

Implied EV$151.06M

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

Mult \ Net Debt	-$2.02B	-$1.02B	-$18.11M	$981.89M	$1.98B
1.4x	$240.20	$123.39	$6.59	$-110.21	$-227.02
3.4x	$246.78	$129.98	$13.18	$-103.63	$-220.43
5.4x	$253.37	$136.56	$19.76	$-97.04	$-213.85
7.4x	$259.95	$143.15	$26.35	$-90.46	$-207.26
9.4x	$266.54	$149.73	$32.93	$-83.87	$-200.68

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