ADMA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($16.54)
DCF	$-2.88	-117.4%
Graham Number	$6.23	-62.3%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$16.55	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$18.15M

Near-term growth (yrs 1–5)(%)Rev: 18.4% / EPS: -52.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.41%

Computed WACC: 7.41%

Cost of equity (Re)7.56%(Rf 4.30% + β 0.59 × 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)98.02%

Debt weight (D/V)1.98%

Results

Intrinsic Value / share$-3.95

Current Price$16.54

Upside / Downside-123.9%

Net Debt (used)-$7.75M

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

WACC \ Near-term	10.4%	14.4%	18.4%	22.4%	26.4%
7.0%	$-3.11	$-3.69	$-4.35	$-5.11	$-5.97
8.0%	$-2.49	$-2.95	$-3.48	$-4.08	$-4.76
9.0%	$-2.07	$-2.44	$-2.88	$-3.37	$-3.93
10.0%	$-1.76	$-2.07	$-2.44	$-2.85	$-3.32
11.0%	$-1.52	$-1.79	$-2.10	$-2.46	$-2.86

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.86

Book Value / share($)Yahoo: $2.01

Results

Graham Number$6.23

Current Price$16.54

Margin of Safety-62.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.41%

Terminal growth rate(%)

Computed WACC: 7.41%

Cost of equity (Re)7.56%(Rf 4.30% + β 0.59 × 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)98.02%

Debt weight (D/V)1.98%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$16.54

Implied Near-term FCF Growth—

Historical Revenue Growth18.4%

Historical Earnings Growth-52.8%

Base FCF (TTM)-$18.15M

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$16.54

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $199.54M

Target EV/EBITDA multipleCurrent: 19.7×

Net Debt($B)Default: -$7.75M

Results

Implied Equity Value / share$16.55

Current Price$16.54

Upside / Downside+0.1%

Implied EV$3.93B

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

Mult \ Net Debt	-$2.01B	-$1.01B	-$7.75M	$992.25M	$1.99B
15.7x	$21.60	$17.40	$13.20	$9.00	$4.79
17.7x	$23.28	$19.08	$14.87	$10.67	$6.47
19.7x	$24.95	$20.75	$16.55	$12.35	$8.15
21.7x	$26.63	$22.43	$18.23	$14.03	$9.82
23.7x	$28.31	$24.11	$19.90	$15.70	$11.50

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