ALIT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($0.90)
DCF	$7.78	+762.9%
Graham Number	—	—
Reverse DCF	—	implied g: -10.9%
DDM	$3.30	+265.7%
EV/EBITDA	$0.91	+0.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $337.12M

Near-term growth (yrs 1–5)(%)Rev: -4.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.02%

Computed WACC: 6.02%

Cost of equity (Re)10.51%(Rf 4.30% + β 1.13 × ERP 5.50%)

Cost of debt (Rd)6.30%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)18.80%

Debt weight (D/V)81.20%

Results

Intrinsic Value / share$17.46

Current Price$0.90

Upside / Downside+1836.6%

Net Debt (used)$1.84B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$7.88	$10.18	$12.86	$15.96	$19.53
8.0%	$5.85	$7.70	$9.86	$12.35	$15.21
9.0%	$4.44	$5.99	$7.78	$9.84	$12.22
10.0%	$3.41	$4.73	$6.26	$8.01	$10.03
11.0%	$2.62	$3.77	$5.09	$6.61	$8.36

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-5.83

Book Value / share($)Yahoo: $1.99

Results

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

Graham Number—

Current Price$0.90

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.02%

Terminal growth rate(%)

Computed WACC: 6.02%

Cost of equity (Re)10.51%(Rf 4.30% + β 1.13 × ERP 5.50%)

Cost of debt (Rd)6.30%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)18.80%

Debt weight (D/V)81.20%

Results

Current Price$0.90

Implied Near-term FCF Growth-18.5%

Historical Revenue Growth-4.0%

Historical Earnings Growth—

Base FCF (TTM)$337.12M

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: $0.16

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$3.30

Current Price$0.90

Upside / Downside+265.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $496.00M

Target EV/EBITDA multipleCurrent: 4.7×

Net Debt($B)Default: $1.84B

Results

Implied Equity Value / share$0.91

Current Price$0.90

Upside / Downside+0.4%

Implied EV$2.32B

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

Mult \ Net Debt	$1.84B	$1.84B	$1.84B	$1.84B	$1.84B
0.7x	$-2.88	$-2.88	$-2.88	$-2.88	$-2.88
2.7x	$-0.99	$-0.99	$-0.99	$-0.99	$-0.99
4.7x	$0.91	$0.91	$0.91	$0.91	$0.91
6.7x	$2.80	$2.80	$2.80	$2.80	$2.80
8.7x	$4.69	$4.69	$4.69	$4.69	$4.69

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