CTMX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.34)
DCF	$-4.92	-192.2%
Graham Number	$2.10	-60.7%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$5.34	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$55.38M

Near-term growth (yrs 1–5)(%)Rev: -82.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 17.57%

Computed WACC: 17.57%

Cost of equity (Re)17.68%(Rf 4.30% + β 2.43 × 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)99.39%

Debt weight (D/V)0.61%

Results

Intrinsic Value / share$-1.63

Current Price$5.34

Upside / Downside-130.5%

Net Debt (used)-$138.03M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-4.97	$-6.14	$-7.50	$-9.08	$-10.90
8.0%	$-3.94	$-4.88	$-5.98	$-7.24	$-8.70
9.0%	$-3.23	$-4.01	$-4.92	$-5.97	$-7.18
10.0%	$-2.71	$-3.37	$-4.15	$-5.04	$-6.07
11.0%	$-2.30	$-2.89	$-3.56	$-4.33	$-5.22

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.30

Book Value / share($)Yahoo: $0.65

Results

Graham Number$2.10

Current Price$5.34

Margin of Safety-60.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 17.57%

Terminal growth rate(%)

Computed WACC: 17.57%

Cost of equity (Re)17.68%(Rf 4.30% + β 2.43 × 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)99.39%

Debt weight (D/V)0.61%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$5.34

Implied Near-term FCF Growth—

Historical Revenue Growth-82.2%

Historical Earnings Growth—

Base FCF (TTM)-$55.38M

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$5.34

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $24.53M

Target EV/EBITDA multipleCurrent: 31.3×

Net Debt($B)Default: -$138.03M

Results

Implied Equity Value / share$5.34

Current Price$5.34

Upside / Downside+0.0%

Implied EV$766.76M

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

Mult \ Net Debt	-$2.14B	-$1.14B	-$138.03M	$861.97M	$1.86B
27.3x	$16.56	$10.66	$4.76	$-1.14	$-7.04
29.3x	$16.85	$10.95	$5.05	$-0.85	$-6.75
31.3x	$17.14	$11.24	$5.34	$-0.56	$-6.46
33.3x	$17.43	$11.53	$5.63	$-0.27	$-6.17
35.3x	$17.72	$11.82	$5.92	$0.02	$-5.88

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