AZTA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($25.84)
DCF	$49.07	+89.9%
Graham Number	$22.05	-14.7%
Reverse DCF	—	implied g: -9.0%
DDM	—	—
EV/EBITDA	$25.84	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $108.52M

Near-term growth (yrs 1–5)(%)Rev: 0.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.14%

Computed WACC: 11.14%

Cost of equity (Re)11.65%(Rf 4.30% + β 1.34 × 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)95.62%

Debt weight (D/V)4.38%

Results

Intrinsic Value / share$38.71

Current Price$25.84

Upside / Downside+49.8%

Net Debt (used)-$355.19M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$49.43	$57.87	$67.68	$79.04	$92.12
8.0%	$42.01	$48.80	$56.68	$65.80	$76.29
9.0%	$36.86	$42.52	$49.07	$56.64	$65.34
10.0%	$33.09	$37.91	$43.50	$49.94	$57.33
11.0%	$30.19	$34.39	$39.23	$44.81	$51.21

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.58

Book Value / share($)Yahoo: $37.26

Results

Graham Number$22.05

Current Price$25.84

Margin of Safety-14.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.14%

Terminal growth rate(%)

Computed WACC: 11.14%

Cost of equity (Re)11.65%(Rf 4.30% + β 1.34 × 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)95.62%

Debt weight (D/V)4.38%

Results

Current Price$25.84

Implied Near-term FCF Growth-4.7%

Historical Revenue Growth0.8%

Historical Earnings Growth—

Base FCF (TTM)$108.52M

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$25.84

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $37.33M

Target EV/EBITDA multipleCurrent: 22.4×

Net Debt($B)Default: -$355.19M

Results

Implied Equity Value / share$25.84

Current Price$25.84

Upside / Downside-0.0%

Implied EV$835.03M

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

Mult \ Net Debt	-$2.36B	-$1.36B	-$355.19M	$644.81M	$1.64B
18.4x	$66.02	$44.31	$22.60	$0.89	$-20.82
20.4x	$67.64	$45.93	$24.22	$2.51	$-19.20
22.4x	$69.26	$47.55	$25.84	$4.13	$-17.58
24.4x	$70.88	$49.17	$27.46	$5.75	$-15.96
26.4x	$72.50	$50.79	$29.08	$7.37	$-14.34

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