NVRI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($18.30)
DCF	$-1.76	-109.6%
Graham Number	—	—
Reverse DCF	—	implied g: 17.9%
DDM	—	—
EV/EBITDA	$18.97	+3.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $82.91M

Near-term growth (yrs 1–5)(%)Rev: -0.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.70%

Computed WACC: 9.70%

Cost of equity (Re)14.11%(Rf 4.30% + β 1.78 × ERP 5.50%)

Cost of debt (Rd)7.43%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)46.45%

Debt weight (D/V)53.55%

Results

Intrinsic Value / share$-3.54

Current Price$18.30

Upside / Downside-119.3%

Net Debt (used)$1.60B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-1.61	$2.07	$6.35	$11.30	$17.01
8.0%	$-4.84	$-1.88	$1.56	$5.53	$10.10
9.0%	$-7.09	$-4.62	$-1.76	$1.54	$5.33
10.0%	$-8.73	$-6.63	$-4.20	$-1.39	$1.84
11.0%	$-10.00	$-8.17	$-6.05	$-3.62	$-0.83

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.03

Book Value / share($)Yahoo: $3.13

Results

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

Graham Number—

Current Price$18.30

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.70%

Terminal growth rate(%)

Computed WACC: 9.70%

Cost of equity (Re)14.11%(Rf 4.30% + β 1.78 × ERP 5.50%)

Cost of debt (Rd)7.43%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)46.45%

Debt weight (D/V)53.55%

Results

Current Price$18.30

Implied Near-term FCF Growth20.0%

Historical Revenue Growth-0.8%

Historical Earnings Growth—

Base FCF (TTM)$82.91M

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$18.30

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $200.39M

Target EV/EBITDA multipleCurrent: 15.6×

Net Debt($B)Default: $1.60B

Results

Implied Equity Value / share$18.97

Current Price$18.30

Upside / Downside+3.7%

Implied EV$3.13B

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

Mult \ Net Debt	$1.60B	$1.60B	$1.60B	$1.60B	$1.60B
11.6x	$9.04	$9.04	$9.04	$9.04	$9.04
13.6x	$14.01	$14.01	$14.01	$14.01	$14.01
15.6x	$18.97	$18.97	$18.97	$18.97	$18.97
17.6x	$23.94	$23.94	$23.94	$23.94	$23.94
19.6x	$28.91	$28.91	$28.91	$28.91	$28.91

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