NTIC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.75)
DCF	$-7.33	-183.7%
Graham Number	—	—
Reverse DCF	—	—
DDM	$0.82	-90.6%
EV/EBITDA	$9.47	+8.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$2.81M

Near-term growth (yrs 1–5)(%)Rev: 9.2% / EPS: -57.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.70%

Computed WACC: 4.70%

Cost of equity (Re)5.43%(Rf 4.30% + β 0.21 × 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)86.50%

Debt weight (D/V)13.50%

Results

Intrinsic Value / share$-21.11

Current Price$8.75

Upside / Downside-341.2%

Net Debt (used)$6.57M

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

WACC \ Near-term	1.2%	5.2%	9.2%	13.2%	17.2%
7.0%	$-7.54	$-8.89	$-10.45	$-12.24	$-14.30
8.0%	$-6.28	$-7.35	$-8.60	$-10.04	$-11.68
9.0%	$-5.40	$-6.29	$-7.33	$-8.51	$-9.87
10.0%	$-4.76	$-5.52	$-6.39	$-7.40	$-8.55
11.0%	$-4.27	$-4.93	$-5.68	$-6.55	$-7.54

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.03

Book Value / share($)Yahoo: $7.63

Results

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

Graham Number—

Current Price$8.75

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.70%

Terminal growth rate(%)

Computed WACC: 4.70%

Cost of equity (Re)5.43%(Rf 4.30% + β 0.21 × 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)86.50%

Debt weight (D/V)13.50%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$8.75

Implied Near-term FCF Growth—

Historical Revenue Growth9.2%

Historical Earnings Growth-57.7%

Base FCF (TTM)-$2.81M

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: $0.04

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$0.82

Current Price$8.75

Upside / Downside-90.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $589,106

Target EV/EBITDA multipleCurrent: 163.8×

Net Debt($B)Default: $6.57M

Results

Implied Equity Value / share$9.47

Current Price$8.75

Upside / Downside+8.3%

Implied EV$96.50M

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

Mult \ Net Debt	-$1.99B	-$993.43M	$6.57M	$1.01B	$2.01B
159.8x	$219.93	$114.58	$9.23	$-96.13	$-201.48
161.8x	$220.05	$114.70	$9.35	$-96.00	$-201.35
163.8x	$220.18	$114.83	$9.47	$-95.88	$-201.23
165.8x	$220.30	$114.95	$9.60	$-95.75	$-201.11
167.8x	$220.43	$115.07	$9.72	$-95.63	$-200.98

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