Chegg - Valuation Review [Lite] (Sep 2025)

A concise, analyst-style 7-slide review built from my GAAP-based DCF and comparable metrics.

Slides included

• Cover (scope/date, sources)
• Snapshot: business description, verdict, key figures (EV, EV/Revenue, EV/E, margins)
• Consensus view: revenue table + chart (dated)
• Valuation table: 2035E revenue, 2025–2035 CAGR, NPV/EV, net cash, shares, equity value/share, implied downside
• Valuation narrative: methodology, rationale, conclusion (clean English)
• Disclaimer (educational research)

Key assumptions shown

• GAAP NI for headline results (EV/E included; see note)
• Discount rate built from current base rate + size/market overlays
• Terminal (maturity) growth: –1% by policy

Result (base case): $1.96/share (~+38%) from consolidated GAAP DCF.

Note on metrics

I sometimes show EV/E = EV ÷ GAAP Net Income. That’s non-standard (EV is pre-financing; NI is to equity). I keep it for continuity in my work; for cross-company comps I prioritise EV/Revenue and other operating multiples. The free glossary explains all definitions.

Policy

Educational research only. Not investment advice. 7-day refund if not useful.