ACTG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.13)
DCF	$4500.55	+108872.2%
Graham Number	$2.74	-33.6%
Reverse DCF	—	implied g: -17.5%
DDM	—	—
EV/EBITDA	$4.60	+11.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $29.57M

Near-term growth (yrs 1–5)(%)Rev: 155.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.71%

Computed WACC: 6.71%

Cost of equity (Re)7.23%(Rf 4.30% + β 0.53 × ERP 5.50%)

Cost of debt (Rd)6.03%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)78.87%

Debt weight (D/V)21.13%

Results

Intrinsic Value / share$8151.96

Current Price$4.13

Upside / Downside+197284.1%

Net Debt (used)-$259.02M

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

WACC \ Near-term	147.0%	151.0%	155.0%	159.0%	163.0%
7.0%	$6372.24	$6904.57	$7471.90	$8075.96	$8718.48
8.0%	$4861.08	$5267.02	$5699.66	$6160.30	$6650.27
9.0%	$3838.61	$4159.04	$4500.55	$4864.16	$5250.91
10.0%	$3107.52	$3366.82	$3643.16	$3937.39	$4250.34
11.0%	$2563.50	$2777.31	$3005.18	$3247.78	$3505.83

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.06

Book Value / share($)Yahoo: $5.57

Results

Graham Number$2.74

Current Price$4.13

Margin of Safety-33.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.71%

Terminal growth rate(%)

Computed WACC: 6.71%

Cost of equity (Re)7.23%(Rf 4.30% + β 0.53 × ERP 5.50%)

Cost of debt (Rd)6.03%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)78.87%

Debt weight (D/V)21.13%

Results

Current Price$4.13

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth155.0%

Historical Earnings Growth—

Base FCF (TTM)$29.57M

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$4.13

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $53.68M

Target EV/EBITDA multipleCurrent: 3.4×

Net Debt($B)Default: -$259.02M

Results

Implied Equity Value / share$4.60

Current Price$4.13

Upside / Downside+11.3%

Implied EV$184.35M

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

Mult \ Net Debt	-$2.26B	-$1.26B	-$259.02M	$740.98M	$1.74B
-0.6x	$23.10	$12.74	$2.37	$-8.00	$-18.36
1.4x	$24.22	$13.85	$3.48	$-6.88	$-17.25
3.4x	$25.33	$14.96	$4.60	$-5.77	$-16.14
5.4x	$26.44	$16.08	$5.71	$-4.66	$-15.02
7.4x	$27.56	$17.19	$6.82	$-3.54	$-13.91

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