ABG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($210.76)
DCF	$-232.00	-210.1%
Graham Number	$338.23	+60.5%
Reverse DCF	—	implied g: 38.7%
DDM	—	—
EV/EBITDA	$208.77	-0.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $87.83M

Near-term growth (yrs 1–5)(%)Rev: 3.8% / EPS: -52.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.46%

Computed WACC: 3.46%

Cost of equity (Re)8.56%(Rf 4.30% + β 0.77 × 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)40.44%

Debt weight (D/V)59.56%

Results

Intrinsic Value / share$231.64

Current Price$210.76

Upside / Downside+9.9%

Net Debt (used)$6.05B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-231.32	$-215.14	$-196.32	$-174.54	$-149.45
8.0%	$-245.55	$-232.53	$-217.41	$-199.93	$-179.82
9.0%	$-255.42	$-244.58	$-232.00	$-217.49	$-200.81
10.0%	$-262.66	$-253.41	$-242.70	$-230.35	$-216.18
11.0%	$-268.20	$-260.17	$-250.87	$-240.17	$-227.91

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $25.12

Book Value / share($)Yahoo: $202.40

Results

Graham Number$338.23

Current Price$210.76

Margin of Safety+60.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.46%

Terminal growth rate(%)

Computed WACC: 3.46%

Cost of equity (Re)8.56%(Rf 4.30% + β 0.77 × 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)40.44%

Debt weight (D/V)59.56%

Results

Current Price$210.76

Implied Near-term FCF Growth4.4%

Historical Revenue Growth3.8%

Historical Earnings Growth-52.4%

Base FCF (TTM)$87.83M

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$210.76

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.08B

Target EV/EBITDA multipleCurrent: 9.3×

Net Debt($B)Default: $6.05B

Results

Implied Equity Value / share$208.77

Current Price$210.76

Upside / Downside-0.9%

Implied EV$10.11B

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

Mult \ Net Debt	$2.05B	$4.05B	$6.05B	$8.05B	$10.05B
5.3x	$191.39	$88.51	$-14.37	$-117.24	$-220.12
7.3x	$302.96	$200.08	$97.20	$-5.67	$-108.55
9.3x	$414.53	$311.65	$208.77	$105.90	$3.02
11.3x	$526.10	$423.22	$320.35	$217.47	$114.59
13.3x	$637.67	$534.79	$431.92	$329.04	$226.16

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