JOBY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($10.27)
DCF	$-2.3299277089457744e+26	-2.268673523803091e+27%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$327.86M

Near-term growth (yrs 1–5)(%)Rev: 55965.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 18.84%

Computed WACC: 18.84%

Cost of equity (Re)18.92%(Rf 4.30% + β 2.66 × 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)99.56%

Debt weight (D/V)0.44%

Results

Intrinsic Value / share$-4.259269333043599e+25

Current Price$10.27

Upside / Downside-4.1472924372381685e+26%

Net Debt (used)-$1.36B

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

WACC \ Near-term	55957.5%	55961.5%	55965.5%	55969.5%	55973.5%
7.0%	$-3.972745262892466e+26	$-3.974162847428434e+26	$-3.975580836601976e+26	$-3.976999230499714e+26	$-3.978418029208283e+26
8.0%	$-2.989484229731437e+26	$-2.9905509597466167e+26	$-2.9916179942508998e+26	$-2.9926853333094694e+26	$-2.9937529769875193e+26
9.0%	$-2.3282866194109222e+26	$-2.3291174159731405e+26	$-2.329948449679244e+26	$-2.3307797205799995e+26	$-2.3316112287261806e+26
10.0%	$-1.85869604957241e+26	$-1.8593592833320848e+26	$-1.8600227064062538e+26	$-1.860686318835445e+26	$-1.86135012066019e+26
11.0%	$-1.5117974093844128e+26	$-1.5123368601891445e+26	$-1.5128764649755674e+26	$-1.5134162237766453e+26	$-1.5139561366253464e+26

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.13

Book Value / share($)Yahoo: $1.54

Results

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

Graham Number—

Current Price$10.27

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 18.84%

Terminal growth rate(%)

Computed WACC: 18.84%

Cost of equity (Re)18.92%(Rf 4.30% + β 2.66 × 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)99.56%

Debt weight (D/V)0.44%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$10.27

Implied Near-term FCF Growth—

Historical Revenue Growth55965.5%

Historical Earnings Growth—

Base FCF (TTM)-$327.86M

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$10.27

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$679.43M

Target EV/EBITDA multipleCurrent: -12.8×

Net Debt($B)Default: -$1.36B

Results

Implied Equity Value / share$10.43

Current Price$10.27

Upside / Downside+1.5%

Implied EV$8.69B

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