CWK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.54)
DCF	$37.05	+173.6%
Graham Number	$8.49	-37.3%
Reverse DCF	—	implied g: -1.0%
DDM	—	—
EV/EBITDA	$13.54	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $442.49M

Near-term growth (yrs 1–5)(%)Rev: 10.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.31%

Computed WACC: 6.31%

Cost of equity (Re)12.53%(Rf 4.30% + β 1.50 × 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)50.34%

Debt weight (D/V)49.66%

Results

Intrinsic Value / share$72.78

Current Price$13.54

Upside / Downside+437.5%

Net Debt (used)$2.31B

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

WACC \ Near-term	2.8%	6.8%	10.8%	14.8%	18.8%
7.0%	$38.98	$48.50	$59.51	$72.17	$86.66
8.0%	$29.82	$37.43	$46.22	$56.31	$67.86
9.0%	$23.49	$29.79	$37.05	$45.38	$54.90
10.0%	$18.87	$24.20	$30.35	$37.39	$45.44
11.0%	$15.34	$19.95	$25.25	$31.32	$38.24

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.38

Book Value / share($)Yahoo: $8.44

Results

Graham Number$8.49

Current Price$13.54

Margin of Safety-37.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.31%

Terminal growth rate(%)

Computed WACC: 6.31%

Cost of equity (Re)12.53%(Rf 4.30% + β 1.50 × 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)50.34%

Debt weight (D/V)49.66%

Results

Current Price$13.54

Implied Near-term FCF Growth-8.8%

Historical Revenue Growth10.8%

Historical Earnings Growth—

Base FCF (TTM)$442.49M

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$13.54

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $562.80M

Target EV/EBITDA multipleCurrent: 9.7×

Net Debt($B)Default: $2.31B

Results

Implied Equity Value / share$13.54

Current Price$13.54

Upside / Downside+0.0%

Implied EV$5.45B

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

Mult \ Net Debt	$312.20M	$1.31B	$2.31B	$3.31B	$4.31B
5.7x	$12.46	$8.15	$3.83	$-0.48	$-4.79
7.7x	$17.32	$13.00	$8.69	$4.37	$0.06
9.7x	$22.17	$17.86	$13.54	$9.23	$4.92
11.7x	$27.03	$22.71	$18.40	$14.09	$9.77
13.7x	$31.88	$27.57	$23.25	$18.94	$14.63

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