AVO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.26)
DCF	$6.60	-53.7%
Graham Number	$9.96	-30.1%
Reverse DCF	—	implied g: 16.0%
DDM	—	—
EV/EBITDA	$14.67	+2.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $34.40M

Near-term growth (yrs 1–5)(%)Rev: -10.0% / EPS: -4.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.40%

Computed WACC: 6.40%

Cost of equity (Re)7.67%(Rf 4.30% + β 0.61 × 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)83.41%

Debt weight (D/V)16.59%

Results

Intrinsic Value / share$12.36

Current Price$14.26

Upside / Downside-13.3%

Net Debt (used)$136.10M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$6.68	$8.42	$10.44	$12.78	$15.48
8.0%	$5.15	$6.55	$8.17	$10.05	$12.21
9.0%	$4.09	$5.25	$6.60	$8.16	$9.96
10.0%	$3.31	$4.30	$5.45	$6.78	$8.31
11.0%	$2.71	$3.58	$4.58	$5.73	$7.04

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.53

Book Value / share($)Yahoo: $8.32

Results

Graham Number$9.96

Current Price$14.26

Margin of Safety-30.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.40%

Terminal growth rate(%)

Computed WACC: 6.40%

Cost of equity (Re)7.67%(Rf 4.30% + β 0.61 × 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)83.41%

Debt weight (D/V)16.59%

Results

Current Price$14.26

Implied Near-term FCF Growth7.0%

Historical Revenue Growth-10.0%

Historical Earnings Growth-4.2%

Base FCF (TTM)$34.40M

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$14.26

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $100.00M

Target EV/EBITDA multipleCurrent: 11.8×

Net Debt($B)Default: $136.10M

Results

Implied Equity Value / share$14.67

Current Price$14.26

Upside / Downside+2.8%

Implied EV$1.18B

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

Mult \ Net Debt	-$1.86B	-$863.90M	$136.10M	$1.14B	$2.14B
7.8x	$37.25	$23.14	$9.02	$-5.10	$-19.21
9.8x	$40.08	$25.96	$11.84	$-2.27	$-16.39
11.8x	$42.90	$28.78	$14.67	$0.55	$-13.57
13.8x	$45.72	$31.61	$17.49	$3.37	$-10.74
15.8x	$48.55	$34.43	$20.31	$6.20	$-7.92

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