CURI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.44)
DCF	$59.55	+1631.2%
Graham Number	—	—
Reverse DCF	—	implied g: -7.3%
DDM	$6.59	+91.6%
EV/EBITDA	$3.44	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $20.73M

Near-term growth (yrs 1–5)(%)Rev: 45.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.76%

Computed WACC: 14.76%

Cost of equity (Re)15.05%(Rf 4.30% + β 1.96 × 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)98.05%

Debt weight (D/V)1.95%

Results

Intrinsic Value / share$25.31

Current Price$3.44

Upside / Downside+635.7%

Net Debt (used)-$23.79M

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

WACC \ Near-term	37.7%	41.7%	45.7%	49.7%	53.7%
7.0%	$71.29	$82.01	$93.99	$107.35	$122.21
8.0%	$55.90	$64.25	$73.59	$84.00	$95.57
9.0%	$45.39	$52.13	$59.66	$68.05	$77.38
10.0%	$37.80	$43.37	$49.60	$56.54	$64.25
11.0%	$32.09	$36.79	$42.03	$47.88	$54.37

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.10

Book Value / share($)Yahoo: $0.81

Results

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

Graham Number—

Current Price$3.44

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.76%

Terminal growth rate(%)

Computed WACC: 14.76%

Cost of equity (Re)15.05%(Rf 4.30% + β 1.96 × 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)98.05%

Debt weight (D/V)1.95%

Results

Current Price$3.44

Implied Near-term FCF Growth3.4%

Historical Revenue Growth45.7%

Historical Earnings Growth—

Base FCF (TTM)$20.73M

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$3.44

Upside / Downside+91.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $7.93M

Target EV/EBITDA multipleCurrent: 22.3×

Net Debt($B)Default: -$23.79M

Results

Implied Equity Value / share$3.44

Current Price$3.44

Upside / Downside-0.0%

Implied EV$176.75M

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

Mult \ Net Debt	-$2.02B	-$1.02B	-$23.79M	$976.21M	$1.98B
18.3x	$37.20	$20.05	$2.90	$-14.26	$-31.41
20.3x	$37.47	$20.32	$3.17	$-13.99	$-31.14
22.3x	$37.75	$20.59	$3.44	$-13.71	$-30.87
24.3x	$38.02	$20.87	$3.71	$-13.44	$-30.59
26.3x	$38.29	$21.14	$3.98	$-13.17	$-30.32

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