ASTS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($86.92)
DCF	$-172009276343.11	-197893783283.5%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$836.15M

Near-term growth (yrs 1–5)(%)Rev: 1239.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 18.83%

Computed WACC: 18.83%

Cost of equity (Re)19.19%(Rf 4.30% + β 2.71 × ERP 5.50%)

Cost of debt (Rd)2.69%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)97.86%

Debt weight (D/V)2.14%

Results

Intrinsic Value / share$-31979874190.74

Current Price$86.92

Upside / Downside-36792308188.7%

Net Debt (used)-$481.80M

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

WACC \ Near-term	1231.9%	1235.9%	1239.9%	1243.9%	1247.9%
7.0%	$-283833391730.30	$-288121151110.96	$-292460573431.73	$-296852124155.24	$-301296271531.52
8.0%	$-213925544893.53	$-217157233883.37	$-220427861287.74	$-223737777926.32	$-227087336719.66
9.0%	$-166877425331.23	$-169398376856.10	$-171949703164.60	$-174531677921.50	$-177144576430.38
10.0%	$-133433676612.06	$-135449406561.47	$-137489423911.63	$-139553947482.39	$-141643197404.00
11.0%	$-108704560849.84	$-110346717762.54	$-112008660918.08	$-113690568582.64	$-115392620089.98

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.25

Book Value / share($)Yahoo: $4.56

Results

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

Graham Number—

Current Price$86.92

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 18.83%

Terminal growth rate(%)

Computed WACC: 18.83%

Cost of equity (Re)19.19%(Rf 4.30% + β 2.71 × ERP 5.50%)

Cost of debt (Rd)2.69%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)97.86%

Debt weight (D/V)2.14%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$86.92

Implied Near-term FCF Growth—

Historical Revenue Growth1239.9%

Historical Earnings Growth—

Base FCF (TTM)-$836.15M

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$86.92

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$230.31M

Target EV/EBITDA multipleCurrent: -104.4×

Net Debt($B)Default: -$481.80M

Results

Implied Equity Value / share$84.34

Current Price$86.92

Upside / Downside-3.0%

Implied EV$24.04B

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