CTRA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($31.51)
DCF	$75.88	+140.8%
Graham Number	$30.80	-2.2%
Reverse DCF	—	implied g: 9.5%
DDM	$18.13	-42.5%
EV/EBITDA	$31.54	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.22B

Near-term growth (yrs 1–5)(%)Rev: 23.4% / EPS: 20.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.35%

Computed WACC: 5.35%

Cost of equity (Re)6.24%(Rf 4.30% + β 0.35 × 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)85.69%

Debt weight (D/V)14.31%

Results

Intrinsic Value / share$199.62

Current Price$31.51

Upside / Downside+533.5%

Net Debt (used)$3.89B

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

WACC \ Near-term	15.4%	19.4%	23.4%	27.4%	31.4%
7.0%	$84.40	$100.30	$118.44	$139.04	$162.34
8.0%	$66.32	$78.89	$93.21	$109.46	$127.83
9.0%	$53.91	$64.18	$75.88	$89.15	$104.15
10.0%	$44.89	$53.50	$63.30	$74.40	$86.95
11.0%	$38.05	$45.41	$53.77	$63.24	$73.93

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.16

Book Value / share($)Yahoo: $19.52

Results

Graham Number$30.80

Current Price$31.51

Margin of Safety-2.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.35%

Terminal growth rate(%)

Computed WACC: 5.35%

Cost of equity (Re)6.24%(Rf 4.30% + β 0.35 × 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)85.69%

Debt weight (D/V)14.31%

Results

Current Price$31.51

Implied Near-term FCF Growth-3.5%

Historical Revenue Growth23.4%

Historical Earnings Growth20.6%

Base FCF (TTM)$1.22B

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: $0.88

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$18.13

Current Price$31.51

Upside / Downside-42.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $4.83B

Target EV/EBITDA multipleCurrent: 5.8×

Net Debt($B)Default: $3.89B

Results

Implied Equity Value / share$31.54

Current Price$31.51

Upside / Downside+0.1%

Implied EV$27.82B

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

Mult \ Net Debt	$1.89B	$2.89B	$3.89B	$4.89B	$5.89B
1.8x	$8.70	$7.39	$6.07	$4.75	$3.43
3.8x	$21.44	$20.12	$18.81	$17.49	$16.17
5.8x	$34.18	$32.86	$31.54	$30.23	$28.91
7.8x	$46.92	$45.60	$44.28	$42.96	$41.65
9.8x	$59.66	$58.34	$57.02	$55.70	$54.38

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