ANNX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.52)
DCF	$-9.88	-278.9%
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: -$93.06M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.22%

Computed WACC: 10.22%

Cost of equity (Re)10.56%(Rf 4.30% + β 1.14 × 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)96.83%

Debt weight (D/V)3.17%

Results

Intrinsic Value / share$-8.12

Current Price$5.52

Upside / Downside-247.2%

Net Debt (used)-$161.78M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-9.97	$-12.20	$-14.81	$-17.82	$-21.28
8.0%	$-8.00	$-9.80	$-11.89	$-14.31	$-17.09
9.0%	$-6.64	$-8.14	$-9.88	$-11.88	$-14.19
10.0%	$-5.64	$-6.92	$-8.40	$-10.10	$-12.06
11.0%	$-4.87	$-5.98	$-7.27	$-8.75	$-10.44

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.39

Book Value / share($)Yahoo: $1.40

Results

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

Graham Number—

Current Price$5.52

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.22%

Terminal growth rate(%)

Computed WACC: 10.22%

Cost of equity (Re)10.56%(Rf 4.30% + β 1.14 × 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)96.83%

Debt weight (D/V)3.17%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$5.52

Implied Near-term FCF Growth—

Historical Revenue Growth—

Historical Earnings Growth—

Base FCF (TTM)-$93.06M

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$5.52

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$216.47M

Target EV/EBITDA multipleCurrent: -2.3×

Net Debt($B)Default: -$161.78M

Results

Implied Equity Value / share$4.43

Current Price$5.52

Upside / Downside-19.7%

Implied EV$498.53M

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