CPT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($109.28)
DCF	$4151904.91	+3799227.3%
Graham Number	$57.16	-47.7%
Reverse DCF	—	implied g: 7.0%
DDM	$87.34	-20.1%
EV/EBITDA	$113.14	+3.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $767.72M

Near-term growth (yrs 1–5)(%)Rev: 2.2% / EPS: 287.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.34%

Computed WACC: 7.34%

Cost of equity (Re)8.82%(Rf 4.30% + β 0.82 × ERP 5.50%)

Cost of debt (Rd)3.74%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)74.77%

Debt weight (D/V)25.23%

Results

Intrinsic Value / share$6324755.74

Current Price$109.28

Upside / Downside+5787560.8%

Net Debt (used)$3.90B

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

WACC \ Near-term	279.6%	283.6%	287.6%	291.6%	295.6%
7.0%	$6291039.81	$6629533.12	$6982442.49	$7350223.57	$7733341.51
8.0%	$4768323.62	$5024881.57	$5292365.87	$5571121.85	$5861502.08
9.0%	$3740796.82	$3942065.11	$4151904.91	$4370587.12	$4598388.33
10.0%	$3008256.84	$3170108.44	$3338852.76	$3514707.65	$3697895.51
11.0%	$2464902.75	$2597517.57	$2735779.89	$2879868.22	$3029964.76

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.54

Book Value / share($)Yahoo: $41.02

Results

Graham Number$57.16

Current Price$109.28

Margin of Safety-47.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.34%

Terminal growth rate(%)

Computed WACC: 7.34%

Cost of equity (Re)8.82%(Rf 4.30% + β 0.82 × ERP 5.50%)

Cost of debt (Rd)3.74%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)74.77%

Debt weight (D/V)25.23%

Results

Current Price$109.28

Implied Near-term FCF Growth2.1%

Historical Revenue Growth2.2%

Historical Earnings Growth287.6%

Base FCF (TTM)$767.72M

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: $4.24

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$87.34

Current Price$109.28

Upside / Downside-20.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $899.89M

Target EV/EBITDA multipleCurrent: 17.3×

Net Debt($B)Default: $3.90B

Results

Implied Equity Value / share$113.14

Current Price$109.28

Upside / Downside+3.5%

Implied EV$15.60B

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

Mult \ Net Debt	$1.90B	$2.90B	$3.90B	$4.90B	$5.90B
13.3x	$97.67	$88.00	$78.33	$68.66	$58.99
15.3x	$115.07	$105.40	$95.73	$86.06	$76.39
17.3x	$132.48	$122.81	$113.14	$103.47	$93.80
19.3x	$149.88	$140.21	$130.54	$120.87	$111.20
21.3x	$167.29	$157.62	$147.95	$138.28	$128.61

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