CNDT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.43)
DCF	$1.67	+17.0%
Graham Number	—	—
Reverse DCF	—	implied g: 4.2%
DDM	—	—
EV/EBITDA	$2.39	+67.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $49.38M

Near-term growth (yrs 1–5)(%)Rev: -3.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.99%

Computed WACC: 6.99%

Cost of equity (Re)11.05%(Rf 4.30% + β 1.23 × ERP 5.50%)

Cost of debt (Rd)7.50%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)20.83%

Debt weight (D/V)79.17%

Results

Intrinsic Value / share$4.21

Current Price$1.43

Upside / Downside+194.5%

Net Debt (used)$608.00M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$1.72	$2.86	$4.19	$5.73	$7.50
8.0%	$0.72	$1.64	$2.70	$3.94	$5.36
9.0%	$0.02	$0.78	$1.67	$2.70	$3.88
10.0%	$-0.49	$0.16	$0.92	$1.79	$2.79
11.0%	$-0.88	$-0.32	$0.34	$1.10	$1.96

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.14

Book Value / share($)Yahoo: $4.43

Results

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

Graham Number—

Current Price$1.43

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.99%

Terminal growth rate(%)

Computed WACC: 6.99%

Cost of equity (Re)11.05%(Rf 4.30% + β 1.23 × ERP 5.50%)

Cost of debt (Rd)7.50%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)20.83%

Debt weight (D/V)79.17%

Results

Current Price$1.43

Implied Near-term FCF Growth-1.7%

Historical Revenue Growth-3.8%

Historical Earnings Growth—

Base FCF (TTM)$49.38M

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$1.43

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $54.00M

Target EV/EBITDA multipleCurrent: 18.1×

Net Debt($B)Default: $608.00M

Results

Implied Equity Value / share$2.39

Current Price$1.43

Upside / Downside+67.0%

Implied EV$977.40M

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

Mult \ Net Debt	-$1.39B	-$392.00M	$608.00M	$1.61B	$2.61B
14.1x	$13.92	$7.46	$0.99	$-5.47	$-11.94
16.1x	$14.62	$8.15	$1.69	$-4.77	$-11.24
18.1x	$15.32	$8.85	$2.39	$-4.08	$-10.54
20.1x	$16.01	$9.55	$3.09	$-3.38	$-9.84
22.1x	$16.71	$10.25	$3.78	$-2.68	$-9.14

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