ANNA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.50)
DCF	$-135551763443.51	-3872907527057.3%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$4.21	+20.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$7.71M

Near-term growth (yrs 1–5)(%)Rev: 1631.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.16%

Computed WACC: 4.16%

Cost of equity (Re)4.22%(Rf 4.30% + β -0.01 × 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)98.73%

Debt weight (D/V)1.27%

Results

Intrinsic Value / share$-794039926449.12

Current Price$3.50

Upside / Downside-22686855041503.4%

Net Debt (used)-$29.37M

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

WACC \ Near-term	1623.4%	1627.4%	1631.4%	1635.4%	1639.4%
7.0%	$-225454289978.42	$-228082852990.54	$-230735876086.31	$-233413529579.88	$-236115984574.20
8.0%	$-169857950844.75	$-171838318241.31	$-173837113939.48	$-175854466254.49	$-177890504095.78
9.0%	$-132448958983.53	$-133993176358.95	$-135551763443.51	$-137124820292.65	$-138712447425.21
10.0%	$-105862864725.17	$-107097115833.53	$-108342852261.00	$-109600153979.21	$-110869101330.14
11.0%	$-86209016413.73	$-87214124048.46	$-88228584708.53	$-89252463518.51	$-90285825904.58

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.19

Book Value / share($)Yahoo: $0.86

Results

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

Graham Number—

Current Price$3.50

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.16%

Terminal growth rate(%)

Computed WACC: 4.16%

Cost of equity (Re)4.22%(Rf 4.30% + β -0.01 × 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)98.73%

Debt weight (D/V)1.27%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$3.50

Implied Near-term FCF Growth—

Historical Revenue Growth1631.4%

Historical Earnings Growth—

Base FCF (TTM)-$7.71M

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$3.50

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.36M

Target EV/EBITDA multipleCurrent: 60.1×

Net Debt($B)Default: -$29.37M

Results

Implied Equity Value / share$4.21

Current Price$3.50

Upside / Downside+20.3%

Implied EV$141.81M

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

Mult \ Net Debt	-$2.03B	-$1.03B	-$29.37M	$970.63M	$1.97B
56.1x	$53.17	$28.57	$3.98	$-20.62	$-45.21
58.1x	$53.28	$28.69	$4.09	$-20.50	$-45.09
60.1x	$53.40	$28.80	$4.21	$-20.38	$-44.98
62.1x	$53.51	$28.92	$4.33	$-20.27	$-44.86
64.1x	$53.63	$29.04	$4.44	$-20.15	$-44.75

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