NTRA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($200.17)
DCF	$130.22	-34.9%
Graham Number	—	—
Reverse DCF	—	implied g: 48.5%
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: $141.02M

Near-term growth (yrs 1–5)(%)Rev: 39.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 13.57%

Computed WACC: 13.57%

Cost of equity (Re)13.66%(Rf 4.30% + β 1.70 × ERP 5.50%)

Cost of debt (Rd)1.44%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)99.24%

Debt weight (D/V)0.76%

Results

Intrinsic Value / share$67.60

Current Price$200.17

Upside / Downside-66.2%

Net Debt (used)-$861.76M

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

WACC \ Near-term	31.8%	35.8%	39.8%	43.8%	47.8%
7.0%	$151.88	$174.85	$200.66	$229.56	$261.82
8.0%	$120.70	$138.65	$158.82	$181.39	$206.59
9.0%	$99.38	$113.91	$130.22	$148.47	$168.84
10.0%	$83.97	$96.02	$109.54	$124.67	$141.55
11.0%	$72.35	$82.54	$93.97	$106.75	$121.01

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.28

Book Value / share($)Yahoo: $12.26

Results

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

Graham Number—

Current Price$200.17

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 13.57%

Terminal growth rate(%)

Computed WACC: 13.57%

Cost of equity (Re)13.66%(Rf 4.30% + β 1.70 × ERP 5.50%)

Cost of debt (Rd)1.44%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)99.24%

Debt weight (D/V)0.76%

Results

Current Price$200.17

Implied Near-term FCF Growth64.1%

Historical Revenue Growth39.8%

Historical Earnings Growth—

Base FCF (TTM)$141.02M

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$200.17

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$271.43M

Target EV/EBITDA multipleCurrent: -101.3×

Net Debt($B)Default: -$861.76M

Results

Implied Equity Value / share$203.45

Current Price$200.17

Upside / Downside+1.6%

Implied EV$27.51B

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