ALTG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($7.62)
DCF	$17.66	+131.8%
Graham Number	—	—
Reverse DCF	—	implied g: 1.5%
DDM	$4.74	-37.8%
EV/EBITDA	$7.63	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $97.95M

Near-term growth (yrs 1–5)(%)Rev: 2.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.30%

Computed WACC: 10.30%

Cost of equity (Re)12.47%(Rf 4.30% + β 1.49 × ERP 5.50%)

Cost of debt (Rd)12.46%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)17.37%

Debt weight (D/V)82.63%

Results

Intrinsic Value / share$8.67

Current Price$7.62

Upside / Downside+13.8%

Net Debt (used)$1.15B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$18.12	$29.00	$41.66	$56.31	$73.19
8.0%	$8.55	$17.31	$27.48	$39.24	$52.76
9.0%	$1.92	$9.21	$17.66	$27.43	$38.65
10.0%	$-2.96	$3.27	$10.47	$18.78	$28.31
11.0%	$-6.68	$-1.28	$4.97	$12.17	$20.42

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.50

Book Value / share($)Yahoo: $-0.27

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$7.62

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.30%

Terminal growth rate(%)

Computed WACC: 10.30%

Cost of equity (Re)12.47%(Rf 4.30% + β 1.49 × ERP 5.50%)

Cost of debt (Rd)12.46%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)17.37%

Debt weight (D/V)82.63%

Results

Current Price$7.62

Implied Near-term FCF Growth4.6%

Historical Revenue Growth2.2%

Historical Earnings Growth—

Base FCF (TTM)$97.95M

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: $0.23

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.74

Current Price$7.62

Upside / Downside-37.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $52.30M

Target EV/EBITDA multipleCurrent: 26.7×

Net Debt($B)Default: $1.15B

Results

Implied Equity Value / share$7.63

Current Price$7.62

Upside / Downside+0.1%

Implied EV$1.40B

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

Mult \ Net Debt	$1.15B	$1.15B	$1.15B	$1.15B	$1.15B
22.7x	$1.14	$1.14	$1.14	$1.14	$1.14
24.7x	$4.38	$4.38	$4.38	$4.38	$4.38
26.7x	$7.63	$7.63	$7.63	$7.63	$7.63
28.7x	$10.87	$10.87	$10.87	$10.87	$10.87
30.7x	$14.12	$14.12	$14.12	$14.12	$14.12

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