ACIW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($40.52)
DCF	$49.28	+21.6%
Graham Number	$28.67	-29.2%
Reverse DCF	—	implied g: 3.4%
DDM	—	—
EV/EBITDA	$39.81	-1.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $303.42M

Near-term growth (yrs 1–5)(%)Rev: 6.3% / EPS: -33.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.50%

Computed WACC: 8.50%

Cost of equity (Re)10.26%(Rf 4.30% + β 1.08 × 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)82.85%

Debt weight (D/V)17.15%

Results

Intrinsic Value / share$53.94

Current Price$40.52

Upside / Downside+33.1%

Net Debt (used)$669.18M

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

WACC \ Near-term	-1.7%	2.3%	6.3%	10.3%	14.3%
7.0%	$50.07	$61.41	$74.58	$89.81	$107.32
8.0%	$39.88	$49.00	$59.57	$71.77	$85.79
9.0%	$32.83	$40.41	$49.19	$59.30	$70.91
10.0%	$27.66	$34.12	$41.58	$50.18	$60.03
11.0%	$23.71	$29.30	$35.77	$43.21	$51.73

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.47

Book Value / share($)Yahoo: $14.79

Results

Graham Number$28.67

Current Price$40.52

Margin of Safety-29.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.50%

Terminal growth rate(%)

Computed WACC: 8.50%

Cost of equity (Re)10.26%(Rf 4.30% + β 1.08 × 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)82.85%

Debt weight (D/V)17.15%

Results

Current Price$40.52

Implied Near-term FCF Growth2.1%

Historical Revenue Growth6.3%

Historical Earnings Growth-33.3%

Base FCF (TTM)$303.42M

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$40.52

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $372.76M

Target EV/EBITDA multipleCurrent: 12.8×

Net Debt($B)Default: $669.18M

Results

Implied Equity Value / share$39.81

Current Price$40.52

Upside / Downside-1.7%

Implied EV$4.77B

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

Mult \ Net Debt	-$1.33B	-$330.82M	$669.18M	$1.67B	$2.67B
8.8x	$44.75	$35.05	$25.35	$15.65	$5.95
10.8x	$51.98	$42.28	$32.58	$22.88	$13.18
12.8x	$59.22	$49.52	$39.81	$30.11	$20.41
14.8x	$66.45	$56.75	$47.05	$37.35	$27.65
16.8x	$73.68	$63.98	$54.28	$44.58	$34.88

← Overview Financial Statements ← Companies