NABL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.47)
DCF	$11.17	+149.8%
Graham Number	—	—
Reverse DCF	—	implied g: -0.7%
DDM	—	—
EV/EBITDA	$4.49	+0.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $91.90M

Near-term growth (yrs 1–5)(%)Rev: 11.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.18%

Computed WACC: 5.18%

Cost of equity (Re)7.85%(Rf 4.30% + β 0.65 × 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)66.02%

Debt weight (D/V)33.98%

Results

Intrinsic Value / share$31.16

Current Price$4.47

Upside / Downside+597.1%

Net Debt (used)$318.52M

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

WACC \ Near-term	3.8%	7.8%	11.8%	15.8%	19.8%
7.0%	$11.76	$14.37	$17.37	$20.82	$24.77
8.0%	$9.22	$11.30	$13.70	$16.45	$19.59
9.0%	$7.47	$9.19	$11.17	$13.43	$16.02
10.0%	$6.19	$7.64	$9.32	$11.23	$13.42
11.0%	$5.21	$6.47	$7.91	$9.56	$11.44

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.09

Book Value / share($)Yahoo: $4.31

Results

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

Graham Number—

Current Price$4.47

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.18%

Terminal growth rate(%)

Computed WACC: 5.18%

Cost of equity (Re)7.85%(Rf 4.30% + β 0.65 × 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)66.02%

Debt weight (D/V)33.98%

Results

Current Price$4.47

Implied Near-term FCF Growth-13.0%

Historical Revenue Growth11.8%

Historical Earnings Growth—

Base FCF (TTM)$91.90M

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$4.47

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $61.89M

Target EV/EBITDA multipleCurrent: 18.7×

Net Debt($B)Default: $318.52M

Results

Implied Equity Value / share$4.49

Current Price$4.47

Upside / Downside+0.4%

Implied EV$1.15B

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

Mult \ Net Debt	-$1.68B	-$681.48M	$318.52M	$1.32B	$2.32B
14.7x	$13.89	$8.53	$3.16	$-2.21	$-7.57
16.7x	$14.56	$9.19	$3.82	$-1.54	$-6.91
18.7x	$15.22	$9.86	$4.49	$-0.88	$-6.25
20.7x	$15.89	$10.52	$5.15	$-0.21	$-5.58
22.7x	$16.55	$11.18	$5.82	$0.45	$-4.92

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