AXS-PE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($20.39)
DCF	$-5752.48	-28312.2%
Graham Number	$112.54	+451.9%
Reverse DCF	—	—
DDM	$28.43	+39.4%
EV/EBITDA	$24.62	+20.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$13.03B

Near-term growth (yrs 1–5)(%)Rev: 17.8% / EPS: 8.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.63%

Computed WACC: 6.63%

Cost of equity (Re)7.78%(Rf 4.30% + β 0.63 × ERP 5.50%)

Cost of debt (Rd)4.46%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)73.04%

Debt weight (D/V)26.96%

Results

Intrinsic Value / share$-9512.05

Current Price$20.39

Upside / Downside-46750.6%

Net Debt (used)$652.64M

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

WACC \ Near-term	9.8%	13.8%	17.8%	21.8%	25.8%
7.0%	$-6199.22	$-7345.52	$-8659.99	$-10160.73	$-11867.10
8.0%	$-4985.32	$-5895.05	$-6937.36	$-8126.48	$-9477.61
9.0%	$-4149.80	$-4897.05	$-5752.48	$-6727.63	$-7834.89
10.0%	$-3540.97	$-4170.12	$-4889.72	$-5709.41	$-6639.48
11.0%	$-3078.56	$-3618.25	$-4234.99	$-4936.97	$-5732.92

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $7.19

Book Value / share($)Yahoo: $78.32

Results

Graham Number$112.54

Current Price$20.39

Margin of Safety+451.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.63%

Terminal growth rate(%)

Computed WACC: 6.63%

Cost of equity (Re)7.78%(Rf 4.30% + β 0.63 × ERP 5.50%)

Cost of debt (Rd)4.46%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)73.04%

Debt weight (D/V)26.96%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$20.39

Implied Near-term FCF Growth—

Historical Revenue Growth17.8%

Historical Earnings Growth8.6%

Base FCF (TTM)-$13.03B

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: $1.38

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$28.43

Current Price$20.39

Upside / Downside+39.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.48B

Target EV/EBITDA multipleCurrent: 1.8×

Net Debt($B)Default: $652.64M

Results

Implied Equity Value / share$24.62

Current Price$20.39

Upside / Downside+20.8%

Implied EV$2.71B

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

Mult \ Net Debt	-$1.35B	-$347.36M	$652.64M	$1.65B	$2.65B
-2.2x	$-22.34	$-34.30	$-46.27	$-58.23	$-70.19
-0.2x	$13.11	$1.14	$-10.82	$-22.79	$-34.75
1.8x	$48.55	$36.59	$24.62	$12.66	$0.69
3.8x	$84.00	$72.03	$60.07	$48.10	$36.14
5.8x	$119.44	$107.48	$95.51	$83.55	$71.58

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