GSAT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($62.27)
DCF	$-112.28	-280.3%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$63.11	+1.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$388.25M

Near-term growth (yrs 1–5)(%)Rev: 17.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.85%

Computed WACC: 11.85%

Cost of equity (Re)12.67%(Rf 4.30% + β 1.52 × 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)93.53%

Debt weight (D/V)6.47%

Results

Intrinsic Value / share$-74.28

Current Price$62.27

Upside / Downside-219.3%

Net Debt (used)$98.86M

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

WACC \ Near-term	9.6%	13.6%	17.6%	21.6%	25.6%
7.0%	$-120.84	$-143.10	$-168.63	$-197.79	$-230.94
8.0%	$-97.33	$-115.00	$-135.25	$-158.35	$-184.61
9.0%	$-81.14	$-95.66	$-112.28	$-131.23	$-152.75
10.0%	$-69.35	$-81.57	$-95.56	$-111.49	$-129.57
11.0%	$-60.39	$-70.88	$-82.86	$-96.51	$-111.99

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.46

Book Value / share($)Yahoo: $2.78

Results

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

Graham Number—

Current Price$62.27

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.85%

Terminal growth rate(%)

Computed WACC: 11.85%

Cost of equity (Re)12.67%(Rf 4.30% + β 1.52 × 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)93.53%

Debt weight (D/V)6.47%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$62.27

Implied Near-term FCF Growth—

Historical Revenue Growth17.6%

Historical Earnings Growth—

Base FCF (TTM)-$388.25M

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$62.27

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $98.16M

Target EV/EBITDA multipleCurrent: 82.6×

Net Debt($B)Default: $98.86M

Results

Implied Equity Value / share$63.11

Current Price$62.27

Upside / Downside+1.4%

Implied EV$8.10B

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

Mult \ Net Debt	-$1.90B	-$901.14M	$98.86M	$1.10B	$2.10B
78.6x	$75.78	$67.90	$60.02	$52.13	$44.25
80.6x	$77.33	$69.45	$61.56	$53.68	$45.80
82.6x	$78.88	$71.00	$63.11	$55.23	$47.34
84.6x	$80.43	$72.54	$64.66	$56.78	$48.89
86.6x	$81.98	$74.09	$66.21	$58.32	$50.44

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