NCL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($0.16)
DCF	$7.47	+4454.1%
Graham Number	—	—
Reverse DCF	—	implied g: -11.6%
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: $1.53M

Near-term growth (yrs 1–5)(%)Rev: 38.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.33%

Computed WACC: 2.33%

Cost of equity (Re)6.35%(Rf 4.30% + β 0.37 × 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)36.63%

Debt weight (D/V)63.37%

Results

Intrinsic Value / share—

Current Price$0.16

Upside / Downside—

Net Debt (used)$6.36M

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

WACC \ Near-term	30.6%	34.6%	38.6%	42.6%	46.6%
7.0%	$8.79	$10.23	$11.85	$13.67	$15.70
8.0%	$6.85	$7.98	$9.25	$10.67	$12.25
9.0%	$5.53	$6.44	$7.47	$8.62	$9.90
10.0%	$4.57	$5.33	$6.18	$7.14	$8.20
11.0%	$3.85	$4.49	$5.21	$6.02	$6.92

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.40

Book Value / share($)Yahoo: $0.08

Results

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

Graham Number—

Current Price$0.16

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.33%

Terminal growth rate(%)

Computed WACC: 2.33%

Cost of equity (Re)6.35%(Rf 4.30% + β 0.37 × 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)36.63%

Debt weight (D/V)63.37%

Results

Current Price$0.16

Implied Near-term FCF Growth65.0%

Historical Revenue Growth38.6%

Historical Earnings Growth—

Base FCF (TTM)$1.53M

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$0.16

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$14.27M

Target EV/EBITDA multipleCurrent: -0.7×

Net Debt($B)Default: $6.36M

Results

Implied Equity Value / share$0.16

Current Price$0.16

Upside / Downside+0.0%

Implied EV$10.09M

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