NTCT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($29.15)
DCF	$88.41	+203.3%
Graham Number	$26.08	-10.5%
Reverse DCF	—	implied g: -10.5%
DDM	—	—
EV/EBITDA	$29.15	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $222.94M

Near-term growth (yrs 1–5)(%)Rev: -0.5% / EPS: 11.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.67%

Computed WACC: 7.67%

Cost of equity (Re)7.83%(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)98.05%

Debt weight (D/V)1.95%

Results

Intrinsic Value / share$110.82

Current Price$29.15

Upside / Downside+280.2%

Net Debt (used)-$531.20M

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

WACC \ Near-term	3.9%	7.9%	11.9%	15.9%	19.9%
7.0%	$92.06	$108.42	$127.29	$148.97	$173.77
8.0%	$76.09	$89.15	$104.20	$121.47	$141.20
9.0%	$65.06	$75.85	$88.27	$102.51	$118.77
10.0%	$57.00	$66.14	$76.64	$88.67	$102.40
11.0%	$50.86	$58.74	$67.79	$78.15	$89.95

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.33

Book Value / share($)Yahoo: $22.73

Results

Graham Number$26.08

Current Price$29.15

Margin of Safety-10.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.67%

Terminal growth rate(%)

Computed WACC: 7.67%

Cost of equity (Re)7.83%(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)98.05%

Debt weight (D/V)1.95%

Results

Current Price$29.15

Implied Near-term FCF Growth-13.5%

Historical Revenue Growth-0.5%

Historical Earnings Growth11.9%

Base FCF (TTM)$222.94M

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$29.15

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $170.45M

Target EV/EBITDA multipleCurrent: 9.2×

Net Debt($B)Default: -$531.20M

Results

Implied Equity Value / share$29.15

Current Price$29.15

Upside / Downside-0.0%

Implied EV$1.57B

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

Mult \ Net Debt	-$2.53B	-$1.53B	-$531.20M	$468.80M	$1.47B
5.2x	$47.40	$33.55	$19.71	$5.86	$-7.98
7.2x	$52.12	$38.28	$24.43	$10.58	$-3.26
9.2x	$56.84	$43.00	$29.15	$15.30	$1.46
11.2x	$61.56	$47.72	$33.87	$20.02	$6.18
13.2x	$66.28	$52.44	$38.59	$24.74	$10.90

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