CWST — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($91.92)
DCF	$24.18	-73.7%
Graham Number	$11.55	-87.4%
Reverse DCF	—	implied g: 26.6%
DDM	—	—
EV/EBITDA	$94.67	+3.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $113.95M

Near-term growth (yrs 1–5)(%)Rev: 9.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.11%

Computed WACC: 7.11%

Cost of equity (Re)8.63%(Rf 4.30% + β 0.79 × 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)82.39%

Debt weight (D/V)17.61%

Results

Intrinsic Value / share$42.66

Current Price$91.92

Upside / Downside-53.6%

Net Debt (used)$1.12B

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

WACC \ Near-term	1.7%	5.7%	9.7%	13.7%	17.7%
7.0%	$25.74	$34.30	$44.21	$55.62	$68.70
8.0%	$17.63	$24.48	$32.40	$41.51	$51.94
9.0%	$12.03	$17.70	$24.25	$31.78	$40.38
10.0%	$7.93	$12.74	$18.29	$24.66	$31.94
11.0%	$4.80	$8.96	$13.75	$19.25	$25.52

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.24

Book Value / share($)Yahoo: $24.70

Results

Graham Number$11.55

Current Price$91.92

Margin of Safety-87.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.11%

Terminal growth rate(%)

Computed WACC: 7.11%

Cost of equity (Re)8.63%(Rf 4.30% + β 0.79 × 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)82.39%

Debt weight (D/V)17.61%

Results

Current Price$91.92

Implied Near-term FCF Growth19.6%

Historical Revenue Growth9.7%

Historical Earnings Growth—

Base FCF (TTM)$113.95M

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$91.92

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $396.02M

Target EV/EBITDA multipleCurrent: 17.8×

Net Debt($B)Default: $1.12B

Results

Implied Equity Value / share$94.67

Current Price$91.92

Upside / Downside+3.0%

Implied EV$7.04B

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

Mult \ Net Debt	$1.12B	$1.12B	$1.12B	$1.12B	$1.12B
13.8x	$69.32	$69.32	$69.32	$69.32	$69.32
15.8x	$81.99	$81.99	$81.99	$81.99	$81.99
17.8x	$94.67	$94.67	$94.67	$94.67	$94.67
19.8x	$107.34	$107.34	$107.34	$107.34	$107.34
21.8x	$120.01	$120.01	$120.01	$120.01	$120.01

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