NBBK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($21.57)
DCF	$4.62	-78.6%
Graham Number	$24.51	+13.6%
Reverse DCF	—	—
DDM	$5.77	-73.3%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 43.0% / EPS: -52.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.36%

Computed WACC: 5.36%

Cost of equity (Re)6.07%(Rf 4.30% + β 0.32 × ERP 5.50%)

Cost of debt (Rd)2.24%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)83.42%

Debt weight (D/V)16.58%

Results

Intrinsic Value / share$4.62

Current Price$21.57

Upside / Downside-78.6%

Net Debt (used)-$211.36M

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

WACC \ Near-term	35.0%	39.0%	43.0%	47.0%	51.0%
7.0%	$4.62	$4.62	$4.62	$4.62	$4.62
8.0%	$4.62	$4.62	$4.62	$4.62	$4.62
9.0%	$4.62	$4.62	$4.62	$4.62	$4.62
10.0%	$4.62	$4.62	$4.62	$4.62	$4.62
11.0%	$4.62	$4.62	$4.62	$4.62	$4.62

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.33

Book Value / share($)Yahoo: $20.08

Results

Graham Number$24.51

Current Price$21.57

Margin of Safety+13.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.36%

Terminal growth rate(%)

Computed WACC: 5.36%

Cost of equity (Re)6.07%(Rf 4.30% + β 0.32 × ERP 5.50%)

Cost of debt (Rd)2.24%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)83.42%

Debt weight (D/V)16.58%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$21.57

Implied Near-term FCF Growth—

Historical Revenue Growth43.0%

Historical Earnings Growth-52.5%

Base FCF (TTM)—

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: $0.28

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$5.77

Current Price$21.57

Upside / Downside-73.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$211.36M

Results

Implied Equity Value / share$4.62

Current Price$21.57

Upside / Downside-78.6%

Implied EV$0

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