ASLE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($7.77)
DCF	$15.94	+105.1%
Graham Number	$4.68	-39.8%
Reverse DCF	—	implied g: -4.5%
DDM	—	—
EV/EBITDA	$7.80	+0.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $51.15M

Near-term growth (yrs 1–5)(%)Rev: -13.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.76%

Computed WACC: 3.76%

Cost of equity (Re)5.38%(Rf 4.30% + β 0.20 × 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)69.93%

Debt weight (D/V)30.07%

Results

Intrinsic Value / share$96.11

Current Price$7.77

Upside / Downside+1137.0%

Net Debt (used)$145.93M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$16.10	$19.99	$24.50	$29.73	$35.75
8.0%	$12.69	$15.81	$19.44	$23.64	$28.46
9.0%	$10.32	$12.92	$15.94	$19.42	$23.43
10.0%	$8.58	$10.80	$13.37	$16.34	$19.74
11.0%	$7.25	$9.18	$11.41	$13.98	$16.92

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.11

Book Value / share($)Yahoo: $8.84

Results

Graham Number$4.68

Current Price$7.77

Margin of Safety-39.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.76%

Terminal growth rate(%)

Computed WACC: 3.76%

Cost of equity (Re)5.38%(Rf 4.30% + β 0.20 × 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)69.93%

Debt weight (D/V)30.07%

Results

Current Price$7.77

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-13.9%

Historical Earnings Growth—

Base FCF (TTM)$51.15M

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$7.77

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $33.02M

Target EV/EBITDA multipleCurrent: 15.6×

Net Debt($B)Default: $145.93M

Results

Implied Equity Value / share$7.80

Current Price$7.77

Upside / Downside+0.4%

Implied EV$513.98M

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

Mult \ Net Debt	-$1.85B	-$854.07M	$145.93M	$1.15B	$2.15B
11.6x	$47.39	$26.19	$5.00	$-16.19	$-37.39
13.6x	$48.79	$27.59	$6.40	$-14.79	$-35.99
15.6x	$50.19	$28.99	$7.80	$-13.39	$-34.59
17.6x	$51.59	$30.39	$9.20	$-11.99	$-33.19
19.6x	$52.99	$31.79	$10.60	$-10.59	$-31.79

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