IART — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($10.43)
DCF	$-12.72	-221.9%
Graham Number	—	—
Reverse DCF	—	implied g: 25.9%
DDM	—	—
EV/EBITDA	$11.39	+9.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $44.46M

Near-term growth (yrs 1–5)(%)Rev: -1.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.83%

Computed WACC: 2.83%

Cost of equity (Re)9.91%(Rf 4.30% + β 1.02 × 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)28.54%

Debt weight (D/V)71.46%

Results

Intrinsic Value / share$177.12

Current Price$10.43

Upside / Downside+1598.2%

Net Debt (used)$1.77B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-12.63	$-10.59	$-8.21	$-5.46	$-2.29
8.0%	$-14.43	$-12.78	$-10.87	$-8.66	$-6.12
9.0%	$-15.67	$-14.30	$-12.72	$-10.88	$-8.77
10.0%	$-16.59	$-15.42	$-14.07	$-12.51	$-10.72
11.0%	$-17.29	$-16.27	$-15.10	$-13.75	$-12.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-6.47

Book Value / share($)Yahoo: $13.40

Results

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

Graham Number—

Current Price$10.43

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.83%

Terminal growth rate(%)

Computed WACC: 2.83%

Cost of equity (Re)9.91%(Rf 4.30% + β 1.02 × 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)28.54%

Debt weight (D/V)71.46%

Results

Current Price$10.43

Implied Near-term FCF Growth-18.0%

Historical Revenue Growth-1.7%

Historical Earnings Growth—

Base FCF (TTM)$44.46M

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$10.43

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $297.75M

Target EV/EBITDA multipleCurrent: 8.9×

Net Debt($B)Default: $1.77B

Results

Implied Equity Value / share$11.39

Current Price$10.43

Upside / Downside+9.2%

Implied EV$2.66B

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

Mult \ Net Debt	$1.77B	$1.77B	$1.77B	$1.77B	$1.77B
4.9x	$-3.90	$-3.90	$-3.90	$-3.90	$-3.90
6.9x	$3.74	$3.74	$3.74	$3.74	$3.74
8.9x	$11.39	$11.39	$11.39	$11.39	$11.39
10.9x	$19.03	$19.03	$19.03	$19.03	$19.03
12.9x	$26.68	$26.68	$26.68	$26.68	$26.68

← Overview Financial Statements ← Companies