AMKR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($45.13)
DCF	$-163.06	-461.4%
Graham Number	$24.70	-45.3%
Reverse DCF	—	—
DDM	$6.80	-84.9%
EV/EBITDA	$47.95	+6.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$114.93M

Near-term growth (yrs 1–5)(%)Rev: 15.9% / EPS: 61.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 13.18%

Computed WACC: 13.18%

Cost of equity (Re)15.15%(Rf 4.30% + β 1.97 × 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)87.01%

Debt weight (D/V)12.99%

Results

Intrinsic Value / share$-80.35

Current Price$45.13

Upside / Downside-278.1%

Net Debt (used)-$325.40M

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

WACC \ Near-term	53.0%	57.0%	61.0%	65.0%	69.0%
7.0%	$-203.34	$-231.24	$-262.12	$-296.20	$-333.73
8.0%	$-157.66	$-179.27	$-203.19	$-229.59	$-258.65
9.0%	$-126.55	$-143.88	$-163.06	$-184.22	$-207.52
10.0%	$-104.14	$-118.39	$-134.16	$-151.55	$-170.71
11.0%	$-87.33	$-99.27	$-112.48	$-127.06	$-143.10

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.50

Book Value / share($)Yahoo: $18.08

Results

Graham Number$24.70

Current Price$45.13

Margin of Safety-45.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 13.18%

Terminal growth rate(%)

Computed WACC: 13.18%

Cost of equity (Re)15.15%(Rf 4.30% + β 1.97 × 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)87.01%

Debt weight (D/V)12.99%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$45.13

Implied Near-term FCF Growth—

Historical Revenue Growth15.9%

Historical Earnings Growth61.0%

Base FCF (TTM)-$114.93M

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: $0.33

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$6.80

Current Price$45.13

Upside / Downside-84.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.11B

Target EV/EBITDA multipleCurrent: 10.4×

Net Debt($B)Default: -$325.40M

Results

Implied Equity Value / share$47.95

Current Price$45.13

Upside / Downside+6.3%

Implied EV$11.53B

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

Mult \ Net Debt	-$2.33B	-$1.33B	-$325.40M	$674.60M	$1.67B
6.4x	$38.10	$34.06	$30.01	$25.97	$21.93
8.4x	$47.07	$43.03	$38.98	$34.94	$30.90
10.4x	$56.04	$52.00	$47.95	$43.91	$39.87
12.4x	$65.01	$60.97	$56.92	$52.88	$48.84
14.4x	$73.98	$69.94	$65.89	$61.85	$57.81

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