BATL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($11.80)
DCF	$-61.63	-622.3%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$24.68	+109.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$48.69M

Near-term growth (yrs 1–5)(%)Rev: -3.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.60%

Computed WACC: 10.60%

Cost of equity (Re)7.73%(Rf 4.30% + β 0.62 × ERP 5.50%)

Cost of debt (Rd)16.78%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)48.07%

Debt weight (D/V)51.93%

Results

Intrinsic Value / share$-51.25

Current Price$11.80

Upside / Downside-534.3%

Net Debt (used)$159.34M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-62.08	$-72.67	$-85.00	$-99.27	$-115.70
8.0%	$-52.75	$-61.28	$-71.19	$-82.64	$-95.81
9.0%	$-46.29	$-53.39	$-61.63	$-71.14	$-82.06
10.0%	$-41.55	$-47.61	$-54.62	$-62.71	$-72.00
11.0%	$-37.92	$-43.18	$-49.27	$-56.28	$-64.31

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-3.36

Book Value / share($)Yahoo: $-1.23

Results

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

Graham Number—

Current Price$11.80

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.60%

Terminal growth rate(%)

Computed WACC: 10.60%

Cost of equity (Re)7.73%(Rf 4.30% + β 0.62 × ERP 5.50%)

Cost of debt (Rd)16.78%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)48.07%

Debt weight (D/V)51.93%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$11.80

Implied Near-term FCF Growth—

Historical Revenue Growth-3.9%

Historical Earnings Growth—

Base FCF (TTM)-$48.69M

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$11.80

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $65.22M

Target EV/EBITDA multipleCurrent: 8.7×

Net Debt($B)Default: $159.34M

Results

Implied Equity Value / share$24.68

Current Price$11.80

Upside / Downside+109.1%

Implied EV$565.43M

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

Mult \ Net Debt	-$1.84B	-$840.66M	$159.34M	$1.16B	$2.16B
4.7x	$130.35	$69.59	$8.82	$-51.94	$-112.71
6.7x	$138.28	$77.52	$16.75	$-44.02	$-104.78
8.7x	$146.21	$85.44	$24.68	$-36.09	$-96.86
10.7x	$154.14	$93.37	$32.60	$-28.16	$-88.93
12.7x	$162.06	$101.30	$40.53	$-20.24	$-81.00

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