ULCC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.04)
DCF	$-37.44	-1026.8%
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: -$216.75M

Near-term growth (yrs 1–5)(%)Rev: -0.5% / EPS: 1.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.66%

Computed WACC: 2.66%

Cost of equity (Re)18.34%(Rf 4.30% + β 2.55 × 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)14.52%

Debt weight (D/V)85.48%

Results

Intrinsic Value / share$-702.80

Current Price$4.04

Upside / Downside-17496.2%

Net Debt (used)$4.79B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-37.59	$-40.97	$-44.90	$-49.45	$-54.69
8.0%	$-34.61	$-37.33	$-40.49	$-44.15	$-48.35
9.0%	$-32.55	$-34.82	$-37.44	$-40.48	$-43.96
10.0%	$-31.04	$-32.97	$-35.21	$-37.79	$-40.75
11.0%	$-29.88	$-31.56	$-33.50	$-35.74	$-38.30

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.60

Book Value / share($)Yahoo: $2.14

Results

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

Graham Number—

Current Price$4.04

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.66%

Terminal growth rate(%)

Computed WACC: 2.66%

Cost of equity (Re)18.34%(Rf 4.30% + β 2.55 × 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)14.52%

Debt weight (D/V)85.48%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$4.04

Implied Near-term FCF Growth—

Historical Revenue Growth-0.5%

Historical Earnings Growth1.0%

Base FCF (TTM)-$216.75M

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$4.04

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$360.00M

Target EV/EBITDA multipleCurrent: -15.9×

Net Debt($B)Default: $4.79B

Results

Implied Equity Value / share$4.04

Current Price$4.04

Upside / Downside+0.0%

Implied EV$5.72B

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