AMTX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.44)
DCF	$-17.30	-1301.3%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$37.64M

Near-term growth (yrs 1–5)(%)Rev: -27.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.78%

Computed WACC: 12.78%

Cost of equity (Re)18.62%(Rf 4.30% + β 2.60 × ERP 5.50%)

Cost of debt (Rd)14.74%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)16.29%

Debt weight (D/V)83.71%

Results

Intrinsic Value / share$-13.59

Current Price$1.44

Upside / Downside-1043.6%

Net Debt (used)$484.38M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-17.38	$-19.42	$-21.79	$-24.53	$-27.69
8.0%	$-15.59	$-17.23	$-19.14	$-21.34	$-23.87
9.0%	$-14.35	$-15.72	$-17.30	$-19.13	$-21.23
10.0%	$-13.44	$-14.60	$-15.95	$-17.51	$-19.29
11.0%	$-12.74	$-13.75	$-14.92	$-16.27	$-17.81

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.55

Book Value / share($)Yahoo: $-4.69

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$1.44

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.78%

Terminal growth rate(%)

Computed WACC: 12.78%

Cost of equity (Re)18.62%(Rf 4.30% + β 2.60 × ERP 5.50%)

Cost of debt (Rd)14.74%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)16.29%

Debt weight (D/V)83.71%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$1.44

Implied Near-term FCF Growth—

Historical Revenue Growth-27.3%

Historical Earnings Growth—

Base FCF (TTM)-$37.64M

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$1.44

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$42.52M

Target EV/EBITDA multipleCurrent: -13.6×

Net Debt($B)Default: $484.38M

Results

Implied Equity Value / share$1.43

Current Price$1.44

Upside / Downside-0.9%

Implied EV$578.80M

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