CNNE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.14)
DCF	$-0.52	-104.3%
Graham Number	—	—
Reverse DCF	—	—
DDM	$12.36	+1.8%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: -6.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.77%

Computed WACC: 7.77%

Cost of equity (Re)10.33%(Rf 4.30% + β 1.10 × 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)75.26%

Debt weight (D/V)24.74%

Results

Intrinsic Value / share$-0.52

Current Price$12.14

Upside / Downside-104.3%

Net Debt (used)$27.00M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-0.52	$-0.52	$-0.52	$-0.52	$-0.52
8.0%	$-0.52	$-0.52	$-0.52	$-0.52	$-0.52
9.0%	$-0.52	$-0.52	$-0.52	$-0.52	$-0.52
10.0%	$-0.52	$-0.52	$-0.52	$-0.52	$-0.52
11.0%	$-0.52	$-0.52	$-0.52	$-0.52	$-0.52

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-7.35

Book Value / share($)Yahoo: $21.24

Results

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

Graham Number—

Current Price$12.14

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.77%

Terminal growth rate(%)

Computed WACC: 7.77%

Cost of equity (Re)10.33%(Rf 4.30% + β 1.10 × 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)75.26%

Debt weight (D/V)24.74%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$12.14

Implied Near-term FCF Growth—

Historical Revenue Growth-6.0%

Historical Earnings Growth—

Base FCF (TTM)—

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: $0.60

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$12.36

Current Price$12.14

Upside / Downside+1.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$107.60M

Target EV/EBITDA multipleCurrent: -5.4×

Net Debt($B)Default: $27.00M

Results

Implied Equity Value / share$10.74

Current Price$12.14

Upside / Downside-11.6%

Implied EV$582.12M

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