CRWS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.97)
DCF	$459.82	+15382.1%
Graham Number	—	—
Reverse DCF	—	implied g: -18.7%
DDM	$6.59	+122.0%
EV/EBITDA	$2.97	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $12.71M

Near-term growth (yrs 1–5)(%)Rev: -11.3% / EPS: 63.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.16%

Computed WACC: 4.16%

Cost of equity (Re)7.62%(Rf 4.30% + β 0.60 × 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)54.52%

Debt weight (D/V)45.48%

Results

Intrinsic Value / share$2351.80

Current Price$2.97

Upside / Downside+79085.2%

Net Debt (used)$24.11M

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

WACC \ Near-term	55.0%	59.0%	63.0%	67.0%	71.0%
7.0%	$575.70	$653.47	$739.43	$834.21	$938.47
8.0%	$446.33	$506.54	$573.08	$646.44	$727.12
9.0%	$358.23	$406.49	$459.82	$518.60	$583.24
10.0%	$294.80	$334.46	$378.27	$426.56	$479.66
11.0%	$247.24	$280.45	$317.14	$357.56	$402.01

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.89

Book Value / share($)Yahoo: $3.66

Results

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

Graham Number—

Current Price$2.97

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.16%

Terminal growth rate(%)

Computed WACC: 4.16%

Cost of equity (Re)7.62%(Rf 4.30% + β 0.60 × 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)54.52%

Debt weight (D/V)45.48%

Results

Current Price$2.97

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-11.3%

Historical Earnings Growth63.0%

Base FCF (TTM)$12.71M

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: $0.32

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$6.59

Current Price$2.97

Upside / Downside+122.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $3.59M

Target EV/EBITDA multipleCurrent: 15.6×

Net Debt($B)Default: $24.11M

Results

Implied Equity Value / share$2.97

Current Price$2.97

Upside / Downside-0.0%

Implied EV$55.88M

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

Mult \ Net Debt	-$1.98B	-$975.89M	$24.11M	$1.02B	$2.02B
11.6x	$188.58	$95.11	$1.63	$-91.85	$-185.33
13.6x	$189.25	$95.78	$2.30	$-91.18	$-184.66
15.6x	$189.92	$96.45	$2.97	$-90.51	$-183.98
17.6x	$190.60	$97.12	$3.64	$-89.84	$-183.31
19.6x	$191.27	$97.79	$4.31	$-89.17	$-182.64

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