CWCO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($37.72)
DCF	$65.63	+74.0%
Graham Number	$18.33	-51.4%
Reverse DCF	—	implied g: 9.8%
DDM	$11.54	-69.4%
EV/EBITDA	$38.40	+1.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $20.72M

Near-term growth (yrs 1–5)(%)Rev: 5.2% / EPS: 21.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.00%

Computed WACC: 7.00%

Cost of equity (Re)7.04%(Rf 4.30% + β 0.50 × 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)99.47%

Debt weight (D/V)0.53%

Results

Intrinsic Value / share$95.72

Current Price$37.72

Upside / Downside+153.8%

Net Debt (used)-$120.33M

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

WACC \ Near-term	13.2%	17.2%	21.2%	25.2%	29.2%
7.0%	$71.12	$82.60	$95.72	$110.65	$127.57
8.0%	$58.43	$67.51	$77.88	$89.68	$103.04
9.0%	$49.70	$57.14	$65.63	$75.28	$86.20
10.0%	$43.35	$49.60	$56.72	$64.81	$73.96
11.0%	$38.54	$43.88	$49.97	$56.88	$64.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.08

Book Value / share($)Yahoo: $13.83

Results

Graham Number$18.33

Current Price$37.72

Margin of Safety-51.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.00%

Terminal growth rate(%)

Computed WACC: 7.00%

Cost of equity (Re)7.04%(Rf 4.30% + β 0.50 × 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)99.47%

Debt weight (D/V)0.53%

Results

Current Price$37.72

Implied Near-term FCF Growth3.5%

Historical Revenue Growth5.2%

Historical Earnings Growth21.2%

Base FCF (TTM)$20.72M

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: $0.56

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$11.54

Current Price$37.72

Upside / Downside-69.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $23.48M

Target EV/EBITDA multipleCurrent: 20.9×

Net Debt($B)Default: -$120.33M

Results

Implied Equity Value / share$38.40

Current Price$37.72

Upside / Downside+1.8%

Implied EV$491.37M

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

Mult \ Net Debt	-$2.12B	-$1.12B	-$120.33M	$879.67M	$1.88B
16.9x	$158.04	$95.27	$32.50	$-30.27	$-93.04
18.9x	$160.99	$98.22	$35.45	$-27.32	$-90.09
20.9x	$163.93	$101.17	$38.40	$-24.37	$-87.14
22.9x	$166.88	$104.11	$41.34	$-21.43	$-84.20
24.9x	$169.83	$107.06	$44.29	$-18.48	$-81.25

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