CRSP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($58.82)
DCF	$-19.18	-132.6%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$205.62M

Near-term growth (yrs 1–5)(%)Rev: -97.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 13.37%

Computed WACC: 13.37%

Cost of equity (Re)13.86%(Rf 4.30% + β 1.74 × 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)96.47%

Debt weight (D/V)3.53%

Results

Intrinsic Value / share$-3.90

Current Price$58.82

Upside / Downside-106.6%

Net Debt (used)-$1.77B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-19.50	$-27.17	$-36.10	$-46.43	$-58.32
8.0%	$-12.75	$-18.93	$-26.10	$-34.39	$-43.92
9.0%	$-8.08	$-13.22	$-19.18	$-26.06	$-33.97
10.0%	$-4.64	$-9.03	$-14.11	$-19.96	$-26.68
11.0%	$-2.01	$-5.82	$-10.23	$-15.30	$-21.12

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-6.47

Book Value / share($)Yahoo: $20.04

Results

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

Graham Number—

Current Price$58.82

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 13.37%

Terminal growth rate(%)

Computed WACC: 13.37%

Cost of equity (Re)13.86%(Rf 4.30% + β 1.74 × 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)96.47%

Debt weight (D/V)3.53%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$58.82

Implied Near-term FCF Growth—

Historical Revenue Growth-97.6%

Historical Earnings Growth—

Base FCF (TTM)-$205.62M

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$58.82

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$548.84M

Target EV/EBITDA multipleCurrent: -7.4×

Net Debt($B)Default: -$1.77B

Results

Implied Equity Value / share$60.77

Current Price$58.82

Upside / Downside+3.3%

Implied EV$4.06B

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