AVTR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.81)
DCF	$7.55	-14.3%
Graham Number	—	—
Reverse DCF	—	implied g: 6.6%
DDM	—	—
EV/EBITDA	$8.81	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $507.96M

Near-term growth (yrs 1–5)(%)Rev: -1.4% / EPS: -89.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.63%

Computed WACC: 5.63%

Cost of equity (Re)9.51%(Rf 4.30% + β 0.95 × 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)59.26%

Debt weight (D/V)40.74%

Results

Intrinsic Value / share$21.81

Current Price$8.81

Upside / Downside+147.5%

Net Debt (used)$3.77B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$7.67	$10.33	$13.43	$17.03	$21.16
8.0%	$5.32	$7.47	$9.96	$12.84	$16.16
9.0%	$3.69	$5.48	$7.55	$9.95	$12.70
10.0%	$2.50	$4.02	$5.79	$7.83	$10.16
11.0%	$1.59	$2.91	$4.44	$6.21	$8.23

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.78

Book Value / share($)Yahoo: $8.24

Results

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

Graham Number—

Current Price$8.81

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.63%

Terminal growth rate(%)

Computed WACC: 5.63%

Cost of equity (Re)9.51%(Rf 4.30% + β 0.95 × 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)59.26%

Debt weight (D/V)40.74%

Results

Current Price$8.81

Implied Near-term FCF Growth-4.7%

Historical Revenue Growth-1.4%

Historical Earnings Growth-89.4%

Base FCF (TTM)$507.96M

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$8.81

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $975.50M

Target EV/EBITDA multipleCurrent: 10.0×

Net Debt($B)Default: $3.77B

Results

Implied Equity Value / share$8.81

Current Price$8.81

Upside / Downside+0.0%

Implied EV$9.78B

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

Mult \ Net Debt	$1.77B	$2.77B	$3.77B	$4.77B	$5.77B
6.0x	$6.02	$4.56	$3.09	$1.62	$0.16
8.0x	$8.88	$7.42	$5.95	$4.48	$3.02
10.0x	$11.74	$10.28	$8.81	$7.34	$5.88
12.0x	$14.60	$13.14	$11.67	$10.20	$8.74
14.0x	$17.46	$16.00	$14.53	$13.07	$11.60

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