ASC

ASC — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($16.71)
DCF$-1072.75-6519.8%
Graham Number$17.76+6.3%
Reverse DCF
DDM$6.39-61.8%
EV/EBITDA$16.71+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$36.89M
Rev: 1.1% / EPS: 87.8%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-1072.75
Current Price$16.71
Upside / Downside-6519.8%
Net Debt (used)$82.03M
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term79.8%83.8%87.8%91.8%95.8%
7.0%$-1406.35$-1568.96$-1746.32$-1939.41$-2149.26
8.0%$-1083.63$-1208.73$-1345.17$-1493.69$-1655.10
9.0%$-864.47$-964.10$-1072.75$-1191.02$-1319.53
10.0%$-707.13$-788.47$-877.17$-973.72$-1078.64
11.0%$-589.53$-657.21$-731.01$-811.33$-898.61

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $0.90
Yahoo: $15.57

Results

Graham Number$17.76
Current Price$16.71
Margin of Safety+6.3%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$16.71
Implied Near-term FCF Growth
Historical Revenue Growth1.1%
Historical Earnings Growth87.8%
Base FCF (TTM)-$36.89M
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

Yahoo: $0.31

Results

DDM Intrinsic Value / share$6.39
Current Price$16.71
Upside / Downside-61.8%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $81.03M
Current: 9.4×
Default: $82.03M

Results

Implied Equity Value / share$16.71
Current Price$16.71
Upside / Downside+0.0%
Implied EV$762.67M
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$1.92B-$917.98M$82.03M$1.08B$2.08B
5.4x$57.86$33.30$8.75$-15.80$-40.35
7.4x$61.83$37.28$12.73$-11.82$-36.37
9.4x$65.81$41.26$16.71$-7.84$-32.39
11.4x$69.79$45.24$20.69$-3.86$-28.41
13.4x$73.77$49.22$24.67$0.12$-24.43