ALNY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($325.07)
DCF	$1013.73	+211.9%
Graham Number	$17.72	-94.5%
Reverse DCF	—	implied g: 59.9%
DDM	—	—
EV/EBITDA	$325.07	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $128.79M

Near-term growth (yrs 1–5)(%)Rev: 84.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.83%

Computed WACC: 5.83%

Cost of equity (Re)6.23%(Rf 4.30% + β 0.35 × 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)93.56%

Debt weight (D/V)6.44%

Results

Intrinsic Value / share$2390.46

Current Price$325.07

Upside / Downside+635.4%

Net Debt (used)$60.31M

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

WACC \ Near-term	76.9%	80.9%	84.9%	88.9%	92.9%
7.0%	$1321.18	$1476.78	$1646.72	$1831.97	$2033.56
8.0%	$1018.22	$1137.99	$1268.80	$1411.39	$1566.54
9.0%	$812.42	$907.86	$1012.09	$1125.71	$1249.32
10.0%	$664.62	$742.60	$827.75	$920.56	$1021.53
11.0%	$554.12	$619.05	$689.94	$767.20	$851.24

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.34

Book Value / share($)Yahoo: $5.96

Results

Graham Number$17.72

Current Price$325.07

Margin of Safety-94.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.83%

Terminal growth rate(%)

Computed WACC: 5.83%

Cost of equity (Re)6.23%(Rf 4.30% + β 0.35 × 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)93.56%

Debt weight (D/V)6.44%

Results

Current Price$325.07

Implied Near-term FCF Growth43.6%

Historical Revenue Growth84.9%

Historical Earnings Growth—

Base FCF (TTM)$128.79M

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$325.07

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $557.24M

Target EV/EBITDA multipleCurrent: 77.5×

Net Debt($B)Default: $60.31M

Results

Implied Equity Value / share$325.07

Current Price$325.07

Upside / Downside-0.0%

Implied EV$43.17B

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

Mult \ Net Debt	-$1.94B	-$939.69M	$60.31M	$1.06B	$2.06B
73.5x	$323.34	$315.80	$308.26	$300.72	$293.18
75.5x	$331.75	$324.20	$316.66	$309.12	$301.58
77.5x	$340.15	$332.61	$325.07	$317.53	$309.99
79.5x	$348.55	$341.01	$333.47	$325.93	$318.39
81.5x	$356.95	$349.41	$341.87	$334.33	$326.79

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