NUS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.08)
DCF	$31.79	+293.5%
Graham Number	$34.57	+327.9%
Reverse DCF	—	implied g: -16.4%
DDM	$4.94	-38.8%
EV/EBITDA	$8.08	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $90.95M

Near-term growth (yrs 1–5)(%)Rev: -16.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.58%

Computed WACC: 5.58%

Cost of equity (Re)10.00%(Rf 4.30% + β 1.04 × 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)55.75%

Debt weight (D/V)44.25%

Results

Intrinsic Value / share$69.09

Current Price$8.08

Upside / Downside+755.1%

Net Debt (used)$66.68M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$32.08	$38.84	$46.72	$55.83	$66.32
8.0%	$26.12	$31.57	$37.90	$45.21	$53.62
9.0%	$22.00	$26.53	$31.79	$37.86	$44.84
10.0%	$18.97	$22.84	$27.32	$32.48	$38.41
11.0%	$16.65	$20.01	$23.90	$28.37	$33.50

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.18

Book Value / share($)Yahoo: $16.71

Results

Graham Number$34.57

Current Price$8.08

Margin of Safety+327.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.58%

Terminal growth rate(%)

Computed WACC: 5.58%

Cost of equity (Re)10.00%(Rf 4.30% + β 1.04 × 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)55.75%

Debt weight (D/V)44.25%

Results

Current Price$8.08

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-16.9%

Historical Earnings Growth—

Base FCF (TTM)$90.95M

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: $0.24

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.94

Current Price$8.08

Upside / Downside-38.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $143.14M

Target EV/EBITDA multipleCurrent: 3.2×

Net Debt($B)Default: $66.68M

Results

Implied Equity Value / share$8.08

Current Price$8.08

Upside / Downside+0.0%

Implied EV$455.61M

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

Mult \ Net Debt	-$1.93B	-$933.32M	$66.68M	$1.07B	$2.07B
-0.8x	$37.74	$16.96	$-3.82	$-24.59	$-45.37
1.2x	$43.69	$22.91	$2.13	$-18.65	$-39.42
3.2x	$49.64	$28.86	$8.08	$-12.70	$-33.48
5.2x	$55.59	$34.81	$14.03	$-6.75	$-27.53
7.2x	$61.53	$40.76	$19.98	$-0.80	$-21.58

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