NEON — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.80)
DCF	$-21.84	-1313.2%
Graham Number	$4.28	+137.8%
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: -$21.51M

Near-term growth (yrs 1–5)(%)Rev: -48.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.43%

Computed WACC: 8.43%

Cost of equity (Re)8.54%(Rf 4.30% + β 0.77 × 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)98.71%

Debt weight (D/V)1.29%

Results

Intrinsic Value / share$-24.03

Current Price$1.80

Upside / Downside-1434.8%

Net Debt (used)-$11.19M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-22.03	$-26.62	$-31.96	$-38.14	$-45.26
8.0%	$-17.99	$-21.69	$-25.98	$-30.94	$-36.64
9.0%	$-15.19	$-18.27	$-21.84	$-25.96	$-30.69
10.0%	$-13.14	$-15.76	$-18.80	$-22.31	$-26.33
11.0%	$-11.57	$-13.85	$-16.48	$-19.52	$-23.00

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.51

Book Value / share($)Yahoo: $1.60

Results

Graham Number$4.28

Current Price$1.80

Margin of Safety+137.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.43%

Terminal growth rate(%)

Computed WACC: 8.43%

Cost of equity (Re)8.54%(Rf 4.30% + β 0.77 × 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)98.71%

Debt weight (D/V)1.29%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$1.80

Implied Near-term FCF Growth—

Historical Revenue Growth-48.7%

Historical Earnings Growth—

Base FCF (TTM)-$21.51M

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$1.80

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$11.31M

Target EV/EBITDA multipleCurrent: -1.7×

Net Debt($B)Default: -$11.19M

Results

Implied Equity Value / share$1.80

Current Price$1.80

Upside / Downside-0.0%

Implied EV$19.02M

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