NRIX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($15.81)
DCF	$-19.36	-222.4%
Graham Number	—	—
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: -$143.99M

Near-term growth (yrs 1–5)(%)Rev: 2.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.61%

Computed WACC: 14.61%

Cost of equity (Re)15.11%(Rf 4.30% + β 1.97 × 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)96.69%

Debt weight (D/V)3.31%

Results

Intrinsic Value / share$-7.85

Current Price$15.81

Upside / Downside-149.6%

Net Debt (used)-$537.21M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-19.57	$-24.58	$-30.41	$-37.16	$-44.94
8.0%	$-15.16	$-19.19	$-23.88	$-29.30	$-35.53
9.0%	$-12.10	$-15.46	$-19.36	$-23.86	$-29.02
10.0%	$-9.86	$-12.72	$-16.04	$-19.87	$-24.26
11.0%	$-8.14	$-10.63	$-13.51	$-16.82	$-20.62

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-3.05

Book Value / share($)Yahoo: $5.29

Results

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

Graham Number—

Current Price$15.81

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.61%

Terminal growth rate(%)

Computed WACC: 14.61%

Cost of equity (Re)15.11%(Rf 4.30% + β 1.97 × 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)96.69%

Debt weight (D/V)3.31%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$15.81

Implied Near-term FCF Growth—

Historical Revenue Growth2.2%

Historical Earnings Growth—

Base FCF (TTM)-$143.99M

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$15.81

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$277.53M

Target EV/EBITDA multipleCurrent: -4.0×

Net Debt($B)Default: -$537.21M

Results

Implied Equity Value / share$15.97

Current Price$15.81

Upside / Downside+1.0%

Implied EV$1.11B

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