CULP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.19)
DCF	$-12.58	-494.5%
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: -$8.47M

Near-term growth (yrs 1–5)(%)Rev: -4.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.98%

Computed WACC: 6.98%

Cost of equity (Re)10.22%(Rf 4.30% + β 1.08 × ERP 5.50%)

Cost of debt (Rd)1.08%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)65.40%

Debt weight (D/V)34.60%

Results

Intrinsic Value / share$-17.94

Current Price$3.19

Upside / Downside-662.5%

Net Debt (used)$10.64M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-12.69	$-15.08	$-17.87	$-21.09	$-24.81
8.0%	$-10.58	$-12.51	$-14.75	$-17.33	$-20.31
9.0%	$-9.12	$-10.72	$-12.58	$-14.73	$-17.20
10.0%	$-8.04	$-9.41	$-11.00	$-12.83	$-14.93
11.0%	$-7.22	$-8.41	$-9.79	$-11.37	$-13.19

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.86

Book Value / share($)Yahoo: $4.23

Results

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

Graham Number—

Current Price$3.19

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.98%

Terminal growth rate(%)

Computed WACC: 6.98%

Cost of equity (Re)10.22%(Rf 4.30% + β 1.08 × ERP 5.50%)

Cost of debt (Rd)1.08%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)65.40%

Debt weight (D/V)34.60%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$3.19

Implied Near-term FCF Growth—

Historical Revenue Growth-4.4%

Historical Earnings Growth—

Base FCF (TTM)-$8.47M

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$3.19

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$1.42M

Target EV/EBITDA multipleCurrent: -35.8×

Net Debt($B)Default: $10.64M

Results

Implied Equity Value / share$3.16

Current Price$3.19

Upside / Downside-0.9%

Implied EV$50.65M

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