CNC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($44.60)
DCF	$517.75	+1060.9%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$44.81	+0.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $5.05B

Near-term growth (yrs 1–5)(%)Rev: 23.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.73%

Computed WACC: 3.73%

Cost of equity (Re)6.82%(Rf 4.30% + β 0.46 × 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)54.70%

Debt weight (D/V)45.30%

Results

Intrinsic Value / share$3162.04

Current Price$44.60

Upside / Downside+6989.8%

Net Debt (used)-$2.16B

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

WACC \ Near-term	15.2%	19.2%	23.2%	27.2%	31.2%
7.0%	$571.20	$672.07	$787.11	$917.77	$1065.60
8.0%	$456.88	$536.58	$627.40	$730.48	$847.06
9.0%	$378.37	$443.53	$517.75	$601.94	$697.08
10.0%	$321.28	$375.91	$438.08	$508.56	$588.17
11.0%	$278.03	$324.69	$377.75	$437.87	$505.74

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-13.53

Book Value / share($)Yahoo: $40.58

Results

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

Graham Number—

Current Price$44.60

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.73%

Terminal growth rate(%)

Computed WACC: 3.73%

Cost of equity (Re)6.82%(Rf 4.30% + β 0.46 × 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)54.70%

Debt weight (D/V)45.30%

Results

Current Price$44.60

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth23.2%

Historical Earnings Growth—

Base FCF (TTM)$5.05B

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$44.60

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.56B

Target EV/EBITDA multipleCurrent: 7.8×

Net Debt($B)Default: -$2.16B

Results

Implied Equity Value / share$44.81

Current Price$44.60

Upside / Downside+0.5%

Implied EV$19.88B

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

Mult \ Net Debt	-$4.16B	-$3.16B	-$2.16B	-$1.16B	-$158.00M
3.8x	$28.05	$26.01	$23.98	$21.95	$19.91
5.8x	$38.46	$36.43	$34.40	$32.36	$30.33
7.8x	$48.88	$46.84	$44.81	$42.78	$40.74
9.8x	$59.29	$57.26	$55.23	$53.19	$51.16
11.8x	$69.71	$67.67	$65.64	$63.61	$61.57

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