NDSN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($292.18)
DCF	$1385.62	+374.2%
Graham Number	$107.70	-63.1%
Reverse DCF	—	implied g: 17.1%
DDM	$67.57	-76.9%
EV/EBITDA	$292.18	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $514.47M

Near-term growth (yrs 1–5)(%)Rev: 8.8% / EPS: 44.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.70%

Computed WACC: 8.70%

Cost of equity (Re)9.81%(Rf 4.30% + β 1.00 × 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)88.66%

Debt weight (D/V)11.34%

Results

Intrinsic Value / share$1473.60

Current Price$292.18

Upside / Downside+404.3%

Net Debt (used)$1.96B

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

WACC \ Near-term	36.2%	40.2%	44.2%	48.2%	52.2%
7.0%	$1656.80	$1915.33	$2204.79	$2527.87	$2887.45
8.0%	$1290.72	$1492.34	$1718.02	$1969.86	$2250.07
9.0%	$1040.67	$1203.46	$1385.62	$1588.83	$1814.89
10.0%	$860.02	$994.77	$1145.50	$1313.62	$1500.59
11.0%	$724.06	$837.73	$964.85	$1106.59	$1264.17

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $9.24

Book Value / share($)Yahoo: $55.79

Results

Graham Number$107.70

Current Price$292.18

Margin of Safety-63.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.70%

Terminal growth rate(%)

Computed WACC: 8.70%

Cost of equity (Re)9.81%(Rf 4.30% + β 1.00 × 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)88.66%

Debt weight (D/V)11.34%

Results

Current Price$292.18

Implied Near-term FCF Growth16.2%

Historical Revenue Growth8.8%

Historical Earnings Growth44.2%

Base FCF (TTM)$514.47M

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: $3.28

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$67.57

Current Price$292.18

Upside / Downside-76.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $908.94M

Target EV/EBITDA multipleCurrent: 20.1×

Net Debt($B)Default: $1.96B

Results

Implied Equity Value / share$292.18

Current Price$292.18

Upside / Downside-0.0%

Implied EV$18.26B

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

Mult \ Net Debt	$1.96B	$1.96B	$1.96B	$1.96B	$1.96B
16.1x	$227.00	$227.00	$227.00	$227.00	$227.00
18.1x	$259.59	$259.59	$259.59	$259.59	$259.59
20.1x	$292.18	$292.18	$292.18	$292.18	$292.18
22.1x	$324.77	$324.77	$324.77	$324.77	$324.77
24.1x	$357.35	$357.35	$357.35	$357.35	$357.35

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