ATRA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.91)
DCF	$-158.43	-3326.7%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$4.91	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$64.88M

Near-term growth (yrs 1–5)(%)Rev: -91.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 1.42%

Computed WACC: 1.42%

Cost of equity (Re)2.11%(Rf 4.30% + β -0.40 × 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)67.61%

Debt weight (D/V)32.39%

Results

Intrinsic Value / share—

Current Price$4.91

Upside / Downside—

Net Debt (used)$3.25M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-159.79	$-192.01	$-229.50	$-272.88	$-322.85
8.0%	$-131.44	$-157.37	$-187.50	$-222.32	$-262.38
9.0%	$-111.79	$-133.38	$-158.43	$-187.34	$-220.56
10.0%	$-97.37	$-115.79	$-137.13	$-161.72	$-189.95
11.0%	$-86.32	$-102.33	$-120.84	$-142.15	$-166.58

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.86

Book Value / share($)Yahoo: $-5.08

Results

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

Graham Number—

Current Price$4.91

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 1.42%

Terminal growth rate(%)

Computed WACC: 1.42%

Cost of equity (Re)2.11%(Rf 4.30% + β -0.40 × 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)67.61%

Debt weight (D/V)32.39%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$4.91

Implied Near-term FCF Growth—

Historical Revenue Growth-91.4%

Historical Earnings Growth—

Base FCF (TTM)-$64.88M

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$4.91

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $44.85M

Target EV/EBITDA multipleCurrent: 0.9×

Net Debt($B)Default: $3.25M

Results

Implied Equity Value / share$4.91

Current Price$4.91

Upside / Downside+0.0%

Implied EV$38.66M

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

Mult \ Net Debt	-$2.00B	-$996.75M	$3.25M	$1.00B	$2.00B
-3.1x	$257.41	$118.72	$-19.97	$-158.66	$-297.35
-1.1x	$269.85	$131.16	$-7.53	$-146.22	$-284.91
0.9x	$282.30	$143.60	$4.91	$-133.78	$-272.47
2.9x	$294.74	$156.04	$17.35	$-121.34	$-260.03
4.9x	$307.18	$168.49	$29.79	$-108.90	$-247.59

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