CVLG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($29.71)
DCF	$-79.41	-367.3%
Graham Number	$7.62	-74.4%
Reverse DCF	—	—
DDM	$5.77	-80.6%
EV/EBITDA	$36.63	+23.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$66.87M

Near-term growth (yrs 1–5)(%)Rev: 6.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.50%

Computed WACC: 8.50%

Cost of equity (Re)10.58%(Rf 4.30% + β 1.14 × ERP 5.50%)

Cost of debt (Rd)4.99%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)68.72%

Debt weight (D/V)31.28%

Results

Intrinsic Value / share$-84.92

Current Price$29.71

Upside / Downside-385.8%

Net Debt (used)$333.75M

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

WACC \ Near-term	-1.5%	2.5%	6.5%	10.5%	14.5%
7.0%	$-80.60	$-93.46	$-108.40	$-125.66	$-145.50
8.0%	$-69.01	$-79.34	$-91.32	$-105.14	$-121.02
9.0%	$-60.98	$-69.57	$-79.51	$-90.97	$-104.12
10.0%	$-55.10	$-62.41	$-70.86	$-80.60	$-91.75
11.0%	$-50.60	$-56.94	$-64.26	$-72.68	$-82.32

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.16

Book Value / share($)Yahoo: $16.11

Results

Graham Number$7.62

Current Price$29.71

Margin of Safety-74.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.50%

Terminal growth rate(%)

Computed WACC: 8.50%

Cost of equity (Re)10.58%(Rf 4.30% + β 1.14 × ERP 5.50%)

Cost of debt (Rd)4.99%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)68.72%

Debt weight (D/V)31.28%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$29.71

Implied Near-term FCF Growth—

Historical Revenue Growth6.5%

Historical Earnings Growth—

Base FCF (TTM)-$66.87M

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: $0.28

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$5.77

Current Price$29.71

Upside / Downside-80.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $116.03M

Target EV/EBITDA multipleCurrent: 9.3×

Net Debt($B)Default: $333.75M

Results

Implied Equity Value / share$36.63

Current Price$29.71

Upside / Downside+23.3%

Implied EV$1.08B

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

Mult \ Net Debt	-$1.67B	-$666.25M	$333.75M	$1.33B	$2.33B
5.3x	$112.11	$62.96	$13.82	$-35.33	$-84.48
7.3x	$123.51	$74.37	$25.22	$-23.93	$-73.07
9.3x	$134.92	$85.77	$36.63	$-12.52	$-61.67
11.3x	$146.32	$97.18	$48.03	$-1.12	$-50.26
13.3x	$157.73	$108.58	$59.44	$10.29	$-38.86

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