ASTH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($26.32)
DCF	$8039.55	+30445.4%
Graham Number	$8.19	-68.9%
Reverse DCF	—	implied g: -5.7%
DDM	—	—
EV/EBITDA	$15.93	-39.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $208.40M

Near-term growth (yrs 1–5)(%)Rev: 99.7% / EPS: -97.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.05%

Computed WACC: 5.05%

Cost of equity (Re)9.22%(Rf 4.30% + β 0.89 × 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)54.84%

Debt weight (D/V)45.16%

Results

Intrinsic Value / share$26420.95

Current Price$26.32

Upside / Downside+100283.6%

Net Debt (used)$623.80M

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

WACC \ Near-term	91.7%	95.7%	99.7%	103.7%	107.7%
7.0%	$10756.61	$11924.43	$13191.54	$14564.13	$16048.68
8.0%	$8260.58	$9156.98	$10129.56	$11183.06	$12322.44
9.0%	$6567.08	$7279.35	$8052.12	$8889.15	$9794.38
10.0%	$5352.49	$5932.73	$6562.22	$7244.03	$7981.36
11.0%	$4445.73	$4927.41	$5449.95	$6015.90	$6627.91

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.19

Book Value / share($)Yahoo: $15.70

Results

Graham Number$8.19

Current Price$26.32

Margin of Safety-68.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.05%

Terminal growth rate(%)

Computed WACC: 5.05%

Cost of equity (Re)9.22%(Rf 4.30% + β 0.89 × 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)54.84%

Debt weight (D/V)45.16%

Results

Current Price$26.32

Implied Near-term FCF Growth-17.8%

Historical Revenue Growth99.7%

Historical Earnings Growth-97.7%

Base FCF (TTM)$208.40M

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$26.32

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $118.72M

Target EV/EBITDA multipleCurrent: 12.0×

Net Debt($B)Default: $623.80M

Results

Implied Equity Value / share$15.93

Current Price$26.32

Upside / Downside-39.5%

Implied EV$1.42B

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

Mult \ Net Debt	-$1.38B	-$376.20M	$623.80M	$1.62B	$2.62B
8.0x	$46.34	$26.40	$6.46	$-13.48	$-33.42
10.0x	$51.07	$31.13	$11.19	$-8.74	$-28.68
12.0x	$55.80	$35.87	$15.93	$-4.01	$-23.95
14.0x	$60.54	$40.60	$20.66	$0.72	$-19.21
16.0x	$65.27	$45.33	$25.40	$5.46	$-14.48

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