As I discussed in my first GM post for the day, the company should realistically be able to meet 820 bps in terms of its EBITDA margin. However, this margin has varied from 5.5%-9.0% recently, and whichever number is assumed can throw the valuation off in one direction or another. That said, I believe somewhere around 8% is the most statistically likely, but when playing with the number we obtain this wide range of intrinsic share price outputs (based on 1% year-over-year revenue growth): The market is currently pricing GM at around this 8% and, needless to say, dips below this will put a wrench into the value of the present value of its cash flow.