ALTO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.52)
DCF	$-0.54	-121.5%
Graham Number	—	—
Reverse DCF	—	implied g: 37.6%
DDM	—	—
EV/EBITDA	$2.52	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $2.58M

Near-term growth (yrs 1–5)(%)Rev: -4.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.69%

Computed WACC: 4.69%

Cost of equity (Re)7.56%(Rf 4.30% + β 0.59 × 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)61.97%

Debt weight (D/V)38.03%

Results

Intrinsic Value / share$0.63

Current Price$2.52

Upside / Downside-75.1%

Net Debt (used)$87.18M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-0.54	$-0.42	$-0.28	$-0.12	$0.07
8.0%	$-0.64	$-0.54	$-0.43	$-0.30	$-0.15
9.0%	$-0.71	$-0.63	$-0.54	$-0.43	$-0.31
10.0%	$-0.77	$-0.70	$-0.62	$-0.53	$-0.42
11.0%	$-0.81	$-0.75	$-0.68	$-0.60	$-0.51

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.70

Book Value / share($)Yahoo: $2.88

Results

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

Graham Number—

Current Price$2.52

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.69%

Terminal growth rate(%)

Computed WACC: 4.69%

Cost of equity (Re)7.56%(Rf 4.30% + β 0.59 × 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)61.97%

Debt weight (D/V)38.03%

Results

Current Price$2.52

Implied Near-term FCF Growth16.3%

Historical Revenue Growth-4.3%

Historical Earnings Growth—

Base FCF (TTM)$2.58M

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$2.52

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $16.10M

Target EV/EBITDA multipleCurrent: 17.5×

Net Debt($B)Default: $87.18M

Results

Implied Equity Value / share$2.52

Current Price$2.52

Upside / Downside+0.0%

Implied EV$282.09M

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

Mult \ Net Debt	-$1.91B	-$912.82M	$87.18M	$1.09B	$2.09B
13.5x	$27.55	$14.62	$1.69	$-11.24	$-24.17
15.5x	$27.96	$15.03	$2.10	$-10.83	$-23.76
17.5x	$28.38	$15.45	$2.52	$-10.41	$-23.34
19.5x	$28.80	$15.87	$2.94	$-9.99	$-22.92
21.5x	$29.21	$16.28	$3.35	$-9.58	$-22.51

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