NVCR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.30)
DCF	$-5.36	-140.3%
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: -$37.98M

Near-term growth (yrs 1–5)(%)Rev: 8.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.91%

Computed WACC: 8.91%

Cost of equity (Re)8.40%(Rf 4.30% + β 0.74 × ERP 5.50%)

Cost of debt (Rd)15.20%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)85.71%

Debt weight (D/V)14.29%

Results

Intrinsic Value / share$-5.45

Current Price$13.30

Upside / Downside-141.0%

Net Debt (used)-$199.32M

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

WACC \ Near-term	0.1%	4.1%	8.1%	12.1%	16.1%
7.0%	$-5.53	$-6.98	$-8.66	$-10.60	$-12.82
8.0%	$-4.19	$-5.36	$-6.70	$-8.25	$-10.03
9.0%	$-3.27	$-4.23	$-5.35	$-6.63	$-8.10
10.0%	$-2.59	$-3.41	$-4.36	$-5.44	$-6.69
11.0%	$-2.07	$-2.78	$-3.60	$-4.54	$-5.61

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.59

Book Value / share($)Yahoo: $3.03

Results

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

Graham Number—

Current Price$13.30

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.91%

Terminal growth rate(%)

Computed WACC: 8.91%

Cost of equity (Re)8.40%(Rf 4.30% + β 0.74 × ERP 5.50%)

Cost of debt (Rd)15.20%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)85.71%

Debt weight (D/V)14.29%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$13.30

Implied Near-term FCF Growth—

Historical Revenue Growth8.1%

Historical Earnings Growth—

Base FCF (TTM)-$37.98M

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$13.30

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$135.16M

Target EV/EBITDA multipleCurrent: -9.9×

Net Debt($B)Default: -$199.32M

Results

Implied Equity Value / share$13.74

Current Price$13.30

Upside / Downside+3.3%

Implied EV$1.34B

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