COR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($372.65)
DCF	$510.64	+37.0%
Graham Number	$42.91	-88.5%
Reverse DCF	—	implied g: 9.8%
DDM	$49.44	-86.7%
EV/EBITDA	$373.63	+0.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.46B

Near-term growth (yrs 1–5)(%)Rev: 5.5% / EPS: 14.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.10%

Computed WACC: 7.10%

Cost of equity (Re)8.07%(Rf 4.30% + β 0.69 × 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)87.98%

Debt weight (D/V)12.02%

Results

Intrinsic Value / share$764.53

Current Price$372.65

Upside / Downside+105.2%

Net Debt (used)$8.15B

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

WACC \ Near-term	6.8%	10.8%	14.8%	18.8%	22.8%
7.0%	$545.11	$656.16	$783.92	$930.23	$1097.06
8.0%	$432.12	$520.51	$622.09	$738.32	$870.76
9.0%	$354.25	$427.05	$510.64	$606.20	$715.00
10.0%	$297.42	$358.88	$429.38	$509.91	$601.52
11.0%	$254.19	$307.05	$367.63	$436.76	$515.34

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $8.34

Book Value / share($)Yahoo: $9.81

Results

Graham Number$42.91

Current Price$372.65

Margin of Safety-88.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.10%

Terminal growth rate(%)

Computed WACC: 7.10%

Cost of equity (Re)8.07%(Rf 4.30% + β 0.69 × 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)87.98%

Debt weight (D/V)12.02%

Results

Current Price$372.65

Implied Near-term FCF Growth3.9%

Historical Revenue Growth5.5%

Historical Earnings Growth14.8%

Base FCF (TTM)$3.46B

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: $2.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$49.44

Current Price$372.65

Upside / Downside-86.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $4.96B

Target EV/EBITDA multipleCurrent: 16.3×

Net Debt($B)Default: $8.15B

Results

Implied Equity Value / share$373.63

Current Price$372.65

Upside / Downside+0.3%

Implied EV$80.83B

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

Mult \ Net Debt	$4.15B	$6.15B	$8.15B	$10.15B	$12.15B
12.3x	$292.17	$281.89	$271.60	$261.32	$251.04
14.3x	$343.18	$332.90	$322.61	$312.33	$302.05
16.3x	$394.19	$383.91	$373.63	$363.34	$353.06
18.3x	$445.20	$434.92	$424.64	$414.35	$404.07
20.3x	$496.21	$485.93	$475.65	$465.37	$455.08

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