ASR

ASR — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($336.00)
DCF$4339.69+1191.6%
Graham Number$66.80-80.1%
Reverse DCFimplied g: -6.4%
DDM$529.63+57.6%
EV/EBITDA$3886.97+1056.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $3.02B
Rev: 21.6% / EPS: —
Default: 9% (no SEC data)

Results

Intrinsic Value / share$4339.69
Current Price$336.00
Upside / Downside+1191.6%
Net Debt (used)$17.77B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term13.6%17.6%21.6%25.6%29.6%
7.0%$4820.32$5803.81$6927.19$8205.01$9652.84
8.0%$3727.37$4505.33$5393.30$6402.70$7545.74
9.0%$2976.22$3613.19$4339.69$5165.01$6099.03
10.0%$2429.78$2964.39$3573.69$4265.41$5047.77
11.0%$2015.50$2472.68$2993.35$3584.05$4251.75

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $26.07
Yahoo: $7.61

Results

Graham Number$66.80
Current Price$336.00
Margin of Safety-80.1%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$336.00
Implied Near-term FCF Growth-6.4%
Historical Revenue Growth21.6%
Historical Earnings Growth
Base FCF (TTM)$3.02B
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: $25.71

Results

DDM Intrinsic Value / share$529.63
Current Price$336.00
Upside / Downside+57.6%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $20.25B
Current: 6.2×
Default: $17.77B

Results

Implied Equity Value / share$3886.97
Current Price$336.00
Upside / Downside+1056.8%
Implied EV$125.45B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$9.77B$13.77B$17.77B$21.77B$25.77B
2.2x$1252.42$1108.05$963.67$819.29$674.91
4.2x$2714.08$2569.70$2425.32$2280.94$2136.56
6.2x$4175.73$4031.35$3886.97$3742.60$3598.22
8.2x$5637.38$5493.01$5348.63$5204.25$5059.87
10.2x$7099.04$6954.66$6810.28$6665.90$6521.53