NVO

NVO — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($36.52)
DCF$-28.90-179.1%
Graham Number$23.72-35.1%
Reverse DCFimplied g: 72.5%
DDM$38.32+4.9%
EV/EBITDA$49.79+36.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $376.88M
Rev: -7.6% / EPS: -4.7%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-28.90
Current Price$36.52
Upside / Downside-179.1%
Net Debt (used)$104.00B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$-28.88$-28.48$-28.01$-27.47$-26.85
8.0%$-29.23$-28.91$-28.53$-28.10$-27.60
9.0%$-29.48$-29.21$-28.90$-28.54$-28.12
10.0%$-29.65$-29.43$-29.16$-28.86$-28.50
11.0%$-29.79$-29.59$-29.36$-29.10$-28.79

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $3.64
Yahoo: $6.87

Results

Graham Number$23.72
Current Price$36.52
Margin of Safety-35.1%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$36.52
Implied Near-term FCF Growth72.5%
Historical Revenue Growth-7.6%
Historical Earnings Growth-4.7%
Base FCF (TTM)$376.88M
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

Yahoo: $1.86

Results

DDM Intrinsic Value / share$38.32
Current Price$36.52
Upside / Downside+4.9%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $153.29B
Current: 1.8×
Default: $104.00B

Results

Implied Equity Value / share$49.79
Current Price$36.52
Upside / Downside+36.3%
Implied EV$271.79B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$52.00B$78.00B$104.00B$130.00B$156.00B
-2.2x$-116.73$-124.45$-132.16$-139.88$-147.59
-0.2x$-25.75$-33.47$-41.19$-48.90$-56.62
1.8x$65.22$57.51$49.79$42.08$34.36
3.8x$156.20$148.48$140.77$133.05$125.34
5.8x$247.17$239.46$231.74$224.03$216.31