CODI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($6.86)
DCF	$-29.49	-529.9%
Graham Number	—	—
Reverse DCF	—	—
DDM	$20.60	+200.3%
EV/EBITDA	$15.42	+124.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$13.60M

Near-term growth (yrs 1–5)(%)Rev: -5.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.08%

Computed WACC: 8.08%

Cost of equity (Re)10.03%(Rf 4.30% + β 1.04 × ERP 5.50%)

Cost of debt (Rd)9.60%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)20.13%

Debt weight (D/V)79.87%

Results

Intrinsic Value / share$-30.02

Current Price$6.86

Upside / Downside-537.6%

Net Debt (used)$1.98B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-29.52	$-30.17	$-30.92	$-31.79	$-32.79
8.0%	$-28.95	$-29.47	$-30.08	$-30.77	$-31.58
9.0%	$-28.55	$-28.99	$-29.49	$-30.07	$-30.74
10.0%	$-28.27	$-28.64	$-29.06	$-29.56	$-30.12
11.0%	$-28.04	$-28.36	$-28.74	$-29.16	$-29.66

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.56

Book Value / share($)Yahoo: $-0.48

Results

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

Graham Number—

Current Price$6.86

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.08%

Terminal growth rate(%)

Computed WACC: 8.08%

Cost of equity (Re)10.03%(Rf 4.30% + β 1.04 × ERP 5.50%)

Cost of debt (Rd)9.60%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)20.13%

Debt weight (D/V)79.87%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$6.86

Implied Near-term FCF Growth—

Historical Revenue Growth-5.1%

Historical Earnings Growth—

Base FCF (TTM)-$13.60M

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: $1.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$20.60

Current Price$6.86

Upside / Downside+200.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $192.27M

Target EV/EBITDA multipleCurrent: 16.3×

Net Debt($B)Default: $1.98B

Results

Implied Equity Value / share$15.42

Current Price$6.86

Upside / Downside+124.8%

Implied EV$3.14B

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

Mult \ Net Debt	$1.98B	$1.98B	$1.98B	$1.98B	$1.98B
12.3x	$5.20	$5.20	$5.20	$5.20	$5.20
14.3x	$10.31	$10.31	$10.31	$10.31	$10.31
16.3x	$15.42	$15.42	$15.42	$15.42	$15.42
18.3x	$20.53	$20.53	$20.53	$20.53	$20.53
20.3x	$25.64	$25.64	$25.64	$25.64	$25.64

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