APT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.28)
DCF	$5.91	+11.9%
Graham Number	$6.82	+29.2%
Reverse DCF	—	implied g: 13.3%
DDM	—	—
EV/EBITDA	$5.28	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.59M

Near-term growth (yrs 1–5)(%)Rev: 3.7% / EPS: 15.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.89%

Computed WACC: 6.89%

Cost of equity (Re)7.90%(Rf 4.30% + β 0.65 × 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)87.22%

Debt weight (D/V)12.78%

Results

Intrinsic Value / share$8.59

Current Price$5.28

Upside / Downside+62.7%

Net Debt (used)-$9.55M

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

WACC \ Near-term	7.6%	11.6%	15.6%	19.6%	23.6%
7.0%	$6.24	$7.24	$8.39	$9.70	$11.20
8.0%	$5.21	$6.01	$6.92	$7.96	$9.15
9.0%	$4.50	$5.16	$5.91	$6.77	$7.74
10.0%	$3.98	$4.54	$5.17	$5.89	$6.71
11.0%	$3.59	$4.07	$4.61	$5.23	$5.93

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.34

Book Value / share($)Yahoo: $6.08

Results

Graham Number$6.82

Current Price$5.28

Margin of Safety+29.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.89%

Terminal growth rate(%)

Computed WACC: 6.89%

Cost of equity (Re)7.90%(Rf 4.30% + β 0.65 × 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)87.22%

Debt weight (D/V)12.78%

Results

Current Price$5.28

Implied Near-term FCF Growth6.4%

Historical Revenue Growth3.7%

Historical Earnings Growth15.6%

Base FCF (TTM)$1.59M

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$5.28

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $4.39M

Target EV/EBITDA multipleCurrent: 10.3×

Net Debt($B)Default: -$9.55M

Results

Implied Equity Value / share$5.28

Current Price$5.28

Upside / Downside+0.0%

Implied EV$45.15M

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

Mult \ Net Debt	-$2.01B	-$1.01B	-$9.55M	$990.45M	$1.99B
6.3x	$196.64	$100.11	$3.59	$-92.94	$-189.46
8.3x	$197.48	$100.96	$4.43	$-92.09	$-188.62
10.3x	$198.33	$101.80	$5.28	$-91.24	$-187.77
12.3x	$199.18	$102.65	$6.13	$-90.40	$-186.92
14.3x	$200.02	$103.50	$6.97	$-89.55	$-186.08

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