ATRC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($30.93)
DCF	$23.83	-23.0%
Graham Number	—	—
Reverse DCF	—	implied g: 18.0%
DDM	—	—
EV/EBITDA	$30.93	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $38.94M

Near-term growth (yrs 1–5)(%)Rev: 13.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.46%

Computed WACC: 11.46%

Cost of equity (Re)12.03%(Rf 4.30% + β 1.41 × 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)95.27%

Debt weight (D/V)4.73%

Results

Intrinsic Value / share$17.30

Current Price$30.93

Upside / Downside-44.1%

Net Debt (used)-$91.01M

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

WACC \ Near-term	5.1%	9.1%	13.1%	17.1%	21.1%
7.0%	$25.05	$29.49	$34.62	$40.50	$47.22
8.0%	$20.63	$24.17	$28.25	$32.93	$38.27
9.0%	$17.58	$20.50	$23.87	$27.72	$32.11
10.0%	$15.35	$17.82	$20.67	$23.92	$27.62
11.0%	$13.66	$15.79	$18.23	$21.03	$24.21

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.24

Book Value / share($)Yahoo: $9.88

Results

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

Graham Number—

Current Price$30.93

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.46%

Terminal growth rate(%)

Computed WACC: 11.46%

Cost of equity (Re)12.03%(Rf 4.30% + β 1.41 × 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)95.27%

Debt weight (D/V)4.73%

Results

Current Price$30.93

Implied Near-term FCF Growth24.8%

Historical Revenue Growth13.1%

Historical Earnings Growth—

Base FCF (TTM)$38.94M

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$30.93

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $11.08M

Target EV/EBITDA multipleCurrent: 130.8×

Net Debt($B)Default: -$91.01M

Results

Implied Equity Value / share$30.93

Current Price$30.93

Upside / Downside-0.0%

Implied EV$1.45B

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

Mult \ Net Debt	-$2.09B	-$1.09B	-$91.01M	$908.99M	$1.91B
126.8x	$70.19	$50.12	$30.04	$9.96	$-10.11
128.8x	$70.64	$50.56	$30.48	$10.41	$-9.67
130.8x	$71.08	$51.01	$30.93	$10.85	$-9.22
132.8x	$71.53	$51.45	$31.37	$11.30	$-8.78
134.8x	$71.97	$51.90	$31.82	$11.74	$-8.33

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