AIP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($16.18)
DCF	$18.50	+14.4%
Graham Number	—	—
Reverse DCF	—	implied g: 27.4%
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $10.90M

Near-term growth (yrs 1–5)(%)Rev: 30.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.19%

Computed WACC: 12.19%

Cost of equity (Re)12.29%(Rf 4.30% + β 1.45 × 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)99.20%

Debt weight (D/V)0.80%

Results

Intrinsic Value / share$11.67

Current Price$16.18

Upside / Downside-27.9%

Net Debt (used)-$48.63M

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

WACC \ Near-term	22.0%	26.0%	30.0%	34.0%	38.0%
7.0%	$20.85	$24.20	$28.00	$32.28	$37.10
8.0%	$16.75	$19.38	$22.36	$25.73	$29.51
9.0%	$13.93	$16.08	$18.50	$21.24	$24.31
10.0%	$11.89	$13.68	$15.70	$17.98	$20.54
11.0%	$10.35	$11.87	$13.59	$15.53	$17.70

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.82

Book Value / share($)Yahoo: $-0.33

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative. BVPS is zero or negative.

Graham Number—

Current Price$16.18

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.19%

Terminal growth rate(%)

Computed WACC: 12.19%

Cost of equity (Re)12.29%(Rf 4.30% + β 1.45 × 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)99.20%

Debt weight (D/V)0.80%

Results

Current Price$16.18

Implied Near-term FCF Growth36.9%

Historical Revenue Growth30.0%

Historical Earnings Growth—

Base FCF (TTM)$10.90M

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$16.18

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$29.76M

Target EV/EBITDA multipleCurrent: -23.1×

Net Debt($B)Default: -$48.63M

Results

Implied Equity Value / share$16.18

Current Price$16.18

Upside / Downside+0.0%

Implied EV$687.03M

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