CWT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($45.39)
DCF	$-111.19	-345.0%
Graham Number	$38.12	-16.0%
Reverse DCF	—	—
DDM	$25.54	-43.7%
EV/EBITDA	$45.47	+0.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$288.26M

Near-term growth (yrs 1–5)(%)Rev: -1.0% / EPS: -42.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.87%

Computed WACC: 4.87%

Cost of equity (Re)7.78%(Rf 4.30% + β 0.63 × 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)62.59%

Debt weight (D/V)37.41%

Results

Intrinsic Value / share$-261.05

Current Price$45.39

Upside / Downside-675.1%

Net Debt (used)$1.56B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-111.92	$-129.24	$-149.39	$-172.71	$-199.57
8.0%	$-96.67	$-110.62	$-126.81	$-145.53	$-167.06
9.0%	$-86.11	$-97.72	$-111.19	$-126.73	$-144.59
10.0%	$-78.36	$-88.26	$-99.73	$-112.95	$-128.13
11.0%	$-72.42	$-81.03	$-90.98	$-102.43	$-115.57

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.28

Book Value / share($)Yahoo: $28.33

Results

Graham Number$38.12

Current Price$45.39

Margin of Safety-16.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.87%

Terminal growth rate(%)

Computed WACC: 4.87%

Cost of equity (Re)7.78%(Rf 4.30% + β 0.63 × 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)62.59%

Debt weight (D/V)37.41%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$45.39

Implied Near-term FCF Growth—

Historical Revenue Growth-1.0%

Historical Earnings Growth-42.2%

Base FCF (TTM)-$288.26M

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: $1.24

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$25.54

Current Price$45.39

Upside / Downside-43.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $346.29M

Target EV/EBITDA multipleCurrent: 12.3×

Net Debt($B)Default: $1.56B

Results

Implied Equity Value / share$45.47

Current Price$45.39

Upside / Downside+0.2%

Implied EV$4.27B

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

Mult \ Net Debt	$1.56B	$1.56B	$1.56B	$1.56B	$1.56B
8.3x	$22.23	$22.23	$22.23	$22.23	$22.23
10.3x	$33.85	$33.85	$33.85	$33.85	$33.85
12.3x	$45.47	$45.47	$45.47	$45.47	$45.47
14.3x	$57.09	$57.09	$57.09	$57.09	$57.09
16.3x	$68.72	$68.72	$68.72	$68.72	$68.72

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