AVNT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($40.88)
DCF	$47.94	+17.3%
Graham Number	$22.78	-44.3%
Reverse DCF	—	implied g: 3.0%
DDM	$22.45	-45.1%
EV/EBITDA	$41.01	+0.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $335.05M

Near-term growth (yrs 1–5)(%)Rev: 1.9% / EPS: -65.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.81%

Computed WACC: 7.81%

Cost of equity (Re)11.98%(Rf 4.30% + β 1.40 × 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)65.19%

Debt weight (D/V)34.81%

Results

Intrinsic Value / share$62.50

Current Price$40.88

Upside / Downside+52.9%

Net Debt (used)$1.49B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$48.49	$61.58	$76.82	$94.45	$114.75
8.0%	$36.97	$47.51	$59.75	$73.90	$90.18
9.0%	$28.98	$37.76	$47.94	$59.69	$73.19
10.0%	$23.12	$30.61	$39.28	$49.28	$60.75
11.0%	$18.64	$25.14	$32.66	$41.32	$51.25

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.89

Book Value / share($)Yahoo: $25.92

Results

Graham Number$22.78

Current Price$40.88

Margin of Safety-44.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.81%

Terminal growth rate(%)

Computed WACC: 7.81%

Cost of equity (Re)11.98%(Rf 4.30% + β 1.40 × 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)65.19%

Debt weight (D/V)34.81%

Results

Current Price$40.88

Implied Near-term FCF Growth-0.3%

Historical Revenue Growth1.9%

Historical Earnings Growth-65.3%

Base FCF (TTM)$335.05M

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: $1.09

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$22.45

Current Price$40.88

Upside / Downside-45.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $543.10M

Target EV/EBITDA multipleCurrent: 9.7×

Net Debt($B)Default: $1.49B

Results

Implied Equity Value / share$41.01

Current Price$40.88

Upside / Downside+0.3%

Implied EV$5.25B

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

Mult \ Net Debt	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B
5.7x	$17.30	$17.30	$17.30	$17.30	$17.30
7.7x	$29.16	$29.16	$29.16	$29.16	$29.16
9.7x	$41.01	$41.01	$41.01	$41.01	$41.01
11.7x	$52.86	$52.86	$52.86	$52.86	$52.86
13.7x	$64.72	$64.72	$64.72	$64.72	$64.72

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