ASYS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.04)
DCF	$16.55	+17.9%
Graham Number	—	—
Reverse DCF	—	implied g: 2.2%
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: $13.41M

Near-term growth (yrs 1–5)(%)Rev: -22.2% / EPS: -62.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.74%

Computed WACC: 12.74%

Cost of equity (Re)13.28%(Rf 4.30% + β 1.63 × ERP 5.50%)

Cost of debt (Rd)8.90%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)91.37%

Debt weight (D/V)8.63%

Results

Intrinsic Value / share$10.51

Current Price$14.04

Upside / Downside-25.1%

Net Debt (used)-$2.98M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$16.69	$20.02	$23.90	$28.38	$33.55
8.0%	$13.75	$16.44	$19.55	$23.15	$27.30
9.0%	$11.72	$13.96	$16.55	$19.54	$22.97
10.0%	$10.23	$12.14	$14.34	$16.89	$19.81
11.0%	$9.09	$10.74	$12.66	$14.86	$17.39

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.13

Book Value / share($)Yahoo: $3.76

Results

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

Graham Number—

Current Price$14.04

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.74%

Terminal growth rate(%)

Computed WACC: 12.74%

Cost of equity (Re)13.28%(Rf 4.30% + β 1.63 × ERP 5.50%)

Cost of debt (Rd)8.90%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)91.37%

Debt weight (D/V)8.63%

Results

Current Price$14.04

Implied Near-term FCF Growth10.5%

Historical Revenue Growth-22.2%

Historical Earnings Growth-62.4%

Base FCF (TTM)$13.41M

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$14.04

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$1.67M

Target EV/EBITDA multipleCurrent: -119.0×

Net Debt($B)Default: -$2.98M

Results

Implied Equity Value / share$14.04

Current Price$14.04

Upside / Downside-0.0%

Implied EV$199.29M

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