NDLS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($6.28)
DCF	$-38.05	-705.9%
Graham Number	—	—
Reverse DCF	—	implied g: 37.9%
DDM	—	—
EV/EBITDA	$6.27	-0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $2.78M

Near-term growth (yrs 1–5)(%)Rev: -0.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.03%

Computed WACC: 6.03%

Cost of equity (Re)12.51%(Rf 4.30% + β 1.49 × ERP 5.50%)

Cost of debt (Rd)6.54%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)11.75%

Debt weight (D/V)88.25%

Results

Intrinsic Value / share$-30.96

Current Price$6.28

Upside / Downside-593.0%

Net Debt (used)$271.40M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-37.98	$-36.28	$-34.30	$-32.02	$-29.38
8.0%	$-39.47	$-38.11	$-36.52	$-34.68	$-32.57
9.0%	$-40.51	$-39.37	$-38.05	$-36.53	$-34.78
10.0%	$-41.27	$-40.30	$-39.17	$-37.88	$-36.39
11.0%	$-41.85	$-41.01	$-40.03	$-38.91	$-37.62

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-8.00

Book Value / share($)Yahoo: $-6.65

Results

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

Graham Number—

Current Price$6.28

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.03%

Terminal growth rate(%)

Computed WACC: 6.03%

Cost of equity (Re)12.51%(Rf 4.30% + β 1.49 × ERP 5.50%)

Cost of debt (Rd)6.54%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)11.75%

Debt weight (D/V)88.25%

Results

Current Price$6.28

Implied Near-term FCF Growth25.0%

Historical Revenue Growth-0.5%

Historical Earnings Growth—

Base FCF (TTM)$2.78M

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$6.28

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $18.47M

Target EV/EBITDA multipleCurrent: 16.7×

Net Debt($B)Default: $271.40M

Results

Implied Equity Value / share$6.27

Current Price$6.28

Upside / Downside-0.1%

Implied EV$308.11M

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

Mult \ Net Debt	-$1.73B	-$728.60M	$271.40M	$1.27B	$2.27B
12.7x	$335.40	$164.52	$-6.35	$-177.23	$-348.10
14.7x	$341.71	$170.84	$-0.04	$-170.91	$-341.79
16.7x	$348.02	$177.15	$6.27	$-164.60	$-335.48
18.7x	$354.33	$183.46	$12.59	$-158.29	$-329.16
20.7x	$360.65	$189.77	$18.90	$-151.98	$-322.85

← Overview Financial Statements ← Companies