NFE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.17)
DCF	$-161.05	-13864.6%
Graham Number	—	—
Reverse DCF	—	—
DDM	$8.24	+604.3%
EV/EBITDA	$1.62	+38.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$2.09B

Near-term growth (yrs 1–5)(%)Rev: -42.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 0.34%

Computed WACC: 0.34%

Cost of equity (Re)9.76%(Rf 4.30% + β 0.99 × 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)3.45%

Debt weight (D/V)96.55%

Results

Intrinsic Value / share—

Current Price$1.17

Upside / Downside—

Net Debt (used)$9.16B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-162.15	$-188.43	$-219.01	$-254.39	$-295.15
8.0%	$-139.03	$-160.18	$-184.75	$-213.15	$-245.82
9.0%	$-123.00	$-140.62	$-161.05	$-184.63	$-211.72
10.0%	$-111.24	$-126.27	$-143.67	$-163.73	$-186.75
11.0%	$-102.24	$-115.29	$-130.39	$-147.77	$-167.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-4.92

Book Value / share($)Yahoo: $3.50

Results

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

Graham Number—

Current Price$1.17

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 0.34%

Terminal growth rate(%)

Computed WACC: 0.34%

Cost of equity (Re)9.76%(Rf 4.30% + β 0.99 × 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)3.45%

Debt weight (D/V)96.55%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$1.17

Implied Near-term FCF Growth—

Historical Revenue Growth-42.1%

Historical Earnings Growth—

Base FCF (TTM)-$2.09B

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: $0.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$8.24

Current Price$1.17

Upside / Downside+604.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $296.03M

Target EV/EBITDA multipleCurrent: 32.5×

Net Debt($B)Default: $9.16B

Results

Implied Equity Value / share$1.62

Current Price$1.17

Upside / Downside+38.6%

Implied EV$9.62B

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

Mult \ Net Debt	$5.16B	$7.16B	$9.16B	$11.16B	$13.16B
28.5x	$11.52	$4.49	$-2.54	$-9.57	$-16.60
30.5x	$13.60	$6.57	$-0.46	$-7.49	$-14.52
32.5x	$15.68	$8.65	$1.62	$-5.41	$-12.43
34.5x	$17.76	$10.73	$3.70	$-3.33	$-10.35
36.5x	$19.84	$12.81	$5.78	$-1.25	$-8.27

← Overview Financial Statements ← Companies