AXR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($25.26)
DCF	$15.61	-38.2%
Graham Number	$33.65	+33.2%
Reverse DCF	—	implied g: 19.7%
DDM	—	—
EV/EBITDA	$25.10	-0.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $2.18M

Near-term growth (yrs 1–5)(%)Rev: -21.1% / EPS: -70.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.27%

Computed WACC: 12.27%

Cost of equity (Re)12.28%(Rf 4.30% + β 1.45 × 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)99.98%

Debt weight (D/V)0.02%

Results

Intrinsic Value / share$13.17

Current Price$25.26

Upside / Downside-47.9%

Net Debt (used)-$44.60M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$15.67	$17.14	$18.85	$20.83	$23.11
8.0%	$14.38	$15.56	$16.93	$18.52	$20.35
9.0%	$13.48	$14.47	$15.61	$16.93	$18.44
10.0%	$12.82	$13.66	$14.64	$15.76	$17.05
11.0%	$12.32	$13.05	$13.90	$14.87	$15.98

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.95

Book Value / share($)Yahoo: $25.81

Results

Graham Number$33.65

Current Price$25.26

Margin of Safety+33.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.27%

Terminal growth rate(%)

Computed WACC: 12.27%

Cost of equity (Re)12.28%(Rf 4.30% + β 1.45 × 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)99.98%

Debt weight (D/V)0.02%

Results

Current Price$25.26

Implied Near-term FCF Growth28.8%

Historical Revenue Growth-21.1%

Historical Earnings Growth-70.7%

Base FCF (TTM)$2.18M

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$25.26

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $11.48M

Target EV/EBITDA multipleCurrent: 7.7×

Net Debt($B)Default: -$44.60M

Results

Implied Equity Value / share$25.10

Current Price$25.26

Upside / Downside-0.6%

Implied EV$88.55M

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

Mult \ Net Debt	-$2.04B	-$1.04B	-$44.60M	$955.40M	$1.96B
3.7x	$393.43	$204.94	$16.44	$-172.05	$-360.55
5.7x	$397.76	$209.26	$20.77	$-167.72	$-356.22
7.7x	$402.09	$213.59	$25.10	$-163.40	$-351.89
9.7x	$406.41	$217.92	$29.42	$-159.07	$-347.56
11.7x	$410.74	$222.25	$33.75	$-154.74	$-343.24

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