ARCT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.35)
DCF	$-14.46	-273.2%
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: -$32.20M

Near-term growth (yrs 1–5)(%)Rev: -58.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 16.20%

Computed WACC: 16.20%

Cost of equity (Re)17.97%(Rf 4.30% + β 2.49 × 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)90.13%

Debt weight (D/V)9.87%

Results

Intrinsic Value / share$-3.90

Current Price$8.35

Upside / Downside-146.7%

Net Debt (used)-$154.37M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-14.63	$-18.69	$-23.41	$-28.87	$-35.16
8.0%	$-11.06	$-14.33	$-18.12	$-22.51	$-27.55
9.0%	$-8.59	$-11.31	$-14.46	$-18.10	$-22.28
10.0%	$-6.77	$-9.09	$-11.78	$-14.87	$-18.43
11.0%	$-5.38	$-7.40	$-9.73	$-12.41	$-15.49

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.46

Book Value / share($)Yahoo: $8.24

Results

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

Graham Number—

Current Price$8.35

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 16.20%

Terminal growth rate(%)

Computed WACC: 16.20%

Cost of equity (Re)17.97%(Rf 4.30% + β 2.49 × 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)90.13%

Debt weight (D/V)9.87%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$8.35

Implied Near-term FCF Growth—

Historical Revenue Growth-58.8%

Historical Earnings Growth—

Base FCF (TTM)-$32.20M

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$8.35

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$75.19M

Target EV/EBITDA multipleCurrent: -1.1×

Net Debt($B)Default: -$154.37M

Results

Implied Equity Value / share$8.35

Current Price$8.35

Upside / Downside-0.0%

Implied EV$82.85M

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