ASRT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($11.77)
DCF	$1708.46	+14415.4%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$11.66	-0.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $20.82M

Near-term growth (yrs 1–5)(%)Rev: 69.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.42%

Computed WACC: 5.42%

Cost of equity (Re)8.31%(Rf 4.30% + β 0.73 × 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)65.18%

Debt weight (D/V)34.82%

Results

Intrinsic Value / share$4631.57

Current Price$11.77

Upside / Downside+39250.7%

Net Debt (used)-$53.07M

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

WACC \ Near-term	61.4%	65.4%	69.4%	73.4%	77.4%
7.0%	$2164.43	$2443.02	$2749.78	$3086.78	$3456.22
8.0%	$1677.78	$1893.06	$2130.06	$2390.42	$2675.80
9.0%	$1346.68	$1518.89	$1708.46	$1916.68	$2144.90
10.0%	$1108.48	$1249.72	$1405.18	$1575.91	$1763.02
11.0%	$930.06	$1048.11	$1178.03	$1320.69	$1477.03

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-4.50

Book Value / share($)Yahoo: $16.49

Results

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

Graham Number—

Current Price$11.77

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.42%

Terminal growth rate(%)

Computed WACC: 5.42%

Cost of equity (Re)8.31%(Rf 4.30% + β 0.73 × 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)65.18%

Debt weight (D/V)34.82%

Results

Current Price$11.77

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth69.4%

Historical Earnings Growth—

Base FCF (TTM)$20.82M

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$11.77

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $11.00M

Target EV/EBITDA multipleCurrent: 2.0×

Net Debt($B)Default: -$53.07M

Results

Implied Equity Value / share$11.66

Current Price$11.77

Upside / Downside-0.9%

Implied EV$21.75M

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

Mult \ Net Debt	-$2.05B	-$1.05B	-$53.07M	$946.93M	$1.95B
-2.0x	$316.48	$160.64	$4.80	$-151.04	$-306.88
-0.0x	$319.91	$164.07	$8.23	$-147.61	$-303.45
2.0x	$323.34	$167.50	$11.66	$-144.18	$-300.02
4.0x	$326.77	$170.93	$15.09	$-140.75	$-296.59
6.0x	$330.20	$174.36	$18.52	$-137.32	$-293.16

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