CHPG
ChampionsGate Acquisition Corporation Class A Ordinary Share
$10.36
Stable Earnings Power
50%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 283.7% above fair value
You pay
$10.36
Bear
$2.16
Fair
$2.70
Bull
$3.24
Bear
$2.16
-79.2%
$0.18 × 12x P/E
Fair
$2.70
-73.9%
$0.18 × 15x P/E
Bull
$3.24
-68.7%
$0.18 × 18x P/E
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
57.6x
Summary
Applying a 15x P/E to adjusted EPS of $0.18, the base-case value is $2.70 per share.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples