NOA

NOA — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($16.85)
DCF$-44.43-363.7%
Graham Number$15.89-5.7%
Reverse DCF
DDM$7.21-57.2%
EV/EBITDA$16.55-1.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$15.55M
Rev: 10.6% / EPS: 14.8%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-44.43
Current Price$16.85
Upside / Downside-363.7%
Net Debt (used)$809.20M
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term6.8%10.8%14.8%18.8%22.8%
7.0%$-45.46$-48.80$-52.64$-57.03$-62.04
8.0%$-42.07$-44.73$-47.78$-51.27$-55.25
9.0%$-39.73$-41.92$-44.43$-47.30$-50.57
10.0%$-38.02$-39.87$-41.99$-44.41$-47.16
11.0%$-36.73$-38.31$-40.13$-42.21$-44.57

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $0.93
Yahoo: $12.06

Results

Graham Number$15.89
Current Price$16.85
Margin of Safety-5.7%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$16.85
Implied Near-term FCF Growth
Historical Revenue Growth10.6%
Historical Earnings Growth14.8%
Base FCF (TTM)-$15.55M
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

Yahoo: $0.35

Results

DDM Intrinsic Value / share$7.21
Current Price$16.85
Upside / Downside-57.2%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $306.22M
Current: 4.2×
Default: $809.20M

Results

Implied Equity Value / share$16.55
Current Price$16.85
Upside / Downside-1.8%
Implied EV$1.29B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$1.19B-$190.81M$809.20M$1.81B$2.81B
0.2x$43.21$8.82$-25.58$-59.97$-94.37
2.2x$64.28$29.88$-4.51$-38.91$-73.30
4.2x$85.34$50.95$16.55$-17.84$-52.24
6.2x$106.40$72.01$37.62$3.22$-31.17
8.2x$127.47$93.07$58.68$24.29$-10.11