NCRA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($0.36)
DCF	$-7.33	-2135.5%
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: -$2.95M

Near-term growth (yrs 1–5)(%)Rev: 17.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.37%

Computed WACC: 9.37%

Cost of equity (Re)9.41%(Rf 4.30% + β 0.93 × 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)99.51%

Debt weight (D/V)0.49%

Results

Intrinsic Value / share$-6.87

Current Price$0.36

Upside / Downside-2009.6%

Net Debt (used)-$2.01M

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

WACC \ Near-term	9.6%	13.6%	17.6%	21.6%	25.6%
7.0%	$-7.90	$-9.39	$-11.10	$-13.05	$-15.28
8.0%	$-6.33	$-7.51	$-8.87	$-10.41	$-12.17
9.0%	$-5.24	$-6.21	$-7.33	$-8.60	$-10.04
10.0%	$-4.45	$-5.27	$-6.21	$-7.27	$-8.49
11.0%	$-3.85	$-4.55	$-5.36	$-6.27	$-7.31

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.29

Book Value / share($)Yahoo: $0.34

Results

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

Graham Number—

Current Price$0.36

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.37%

Terminal growth rate(%)

Computed WACC: 9.37%

Cost of equity (Re)9.41%(Rf 4.30% + β 0.93 × 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)99.51%

Debt weight (D/V)0.49%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$0.36

Implied Near-term FCF Growth—

Historical Revenue Growth17.6%

Historical Earnings Growth—

Base FCF (TTM)-$2.95M

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$0.36

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$1.89M

Target EV/EBITDA multipleCurrent: -1.7×

Net Debt($B)Default: -$2.01M

Results

Implied Equity Value / share$0.36

Current Price$0.36

Upside / Downside+0.3%

Implied EV$3.18M

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