NLOP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.26)
DCF	$75.59	+430.1%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$14.23	-0.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $58.23M

Near-term growth (yrs 1–5)(%)Rev: -36.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.09%

Computed WACC: 7.09%

Cost of equity (Re)7.84%(Rf 4.30% + β 0.64 × 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)90.53%

Debt weight (D/V)9.47%

Results

Intrinsic Value / share$104.65

Current Price$14.26

Upside / Downside+633.9%

Net Debt (used)-$97.53M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$76.18	$90.26	$106.63	$125.58	$147.41
8.0%	$63.80	$75.13	$88.28	$103.49	$120.99
9.0%	$55.22	$64.65	$75.59	$88.22	$102.73
10.0%	$48.92	$56.96	$66.28	$77.03	$89.36
11.0%	$44.09	$51.08	$59.17	$68.48	$79.15

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-12.21

Book Value / share($)Yahoo: $19.84

Results

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

Graham Number—

Current Price$14.26

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.09%

Terminal growth rate(%)

Computed WACC: 7.09%

Cost of equity (Re)7.84%(Rf 4.30% + β 0.64 × 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)90.53%

Debt weight (D/V)9.47%

Results

Current Price$14.26

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-36.0%

Historical Earnings Growth—

Base FCF (TTM)$58.23M

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$14.26

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $65.91M

Target EV/EBITDA multipleCurrent: 1.7×

Net Debt($B)Default: -$97.53M

Results

Implied Equity Value / share$14.23

Current Price$14.26

Upside / Downside-0.2%

Implied EV$113.30M

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

Mult \ Net Debt	-$2.10B	-$1.10B	-$97.53M	$902.47M	$1.90B
-2.3x	$131.44	$63.94	$-3.57	$-71.07	$-138.57
-0.3x	$140.34	$72.84	$5.33	$-62.17	$-129.67
1.7x	$149.24	$81.74	$14.23	$-53.27	$-120.77
3.7x	$158.14	$90.63	$23.13	$-44.37	$-111.88
5.7x	$167.04	$99.53	$32.03	$-35.47	$-102.98

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