ALEC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.21)
DCF	$-16.38	-841.0%
Graham Number	—	—
Reverse DCF	—	—
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: -$114.34M

Near-term growth (yrs 1–5)(%)Rev: -88.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.35%

Computed WACC: 6.35%

Cost of equity (Re)7.31%(Rf 4.30% + β 0.55 × 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)86.94%

Debt weight (D/V)13.06%

Results

Intrinsic Value / share$-29.19

Current Price$2.21

Upside / Downside-1420.9%

Net Debt (used)-$219.79M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-16.54	$-20.29	$-24.65	$-29.70	$-35.52
8.0%	$-13.23	$-16.25	$-19.76	$-23.81	$-28.48
9.0%	$-10.95	$-13.46	$-16.38	$-19.74	$-23.61
10.0%	$-9.27	$-11.41	$-13.90	$-16.76	$-20.05
11.0%	$-7.98	$-9.85	$-12.00	$-14.48	$-17.33

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.06

Book Value / share($)Yahoo: $0.28

Results

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

Graham Number—

Current Price$2.21

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.35%

Terminal growth rate(%)

Computed WACC: 6.35%

Cost of equity (Re)7.31%(Rf 4.30% + β 0.55 × 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)86.94%

Debt weight (D/V)13.06%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$2.21

Implied Near-term FCF Growth—

Historical Revenue Growth-88.5%

Historical Earnings Growth—

Base FCF (TTM)-$114.34M

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$2.21

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$147.37M

Target EV/EBITDA multipleCurrent: -0.2×

Net Debt($B)Default: -$219.79M

Results

Implied Equity Value / share$2.24

Current Price$2.21

Upside / Downside+1.1%

Implied EV$24.17M

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