NVS

NVS — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($166.87)
DCF$98.93-40.7%
Graham Number$62.06-62.8%
Reverse DCFimplied g: 13.2%
DDM$98.26-41.1%
EV/EBITDA$167.09+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $12.12B
Rev: 2.2% / EPS: -11.6%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$98.93
Current Price$166.87
Upside / Downside-40.7%
Net Debt (used)$23.92B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$99.89$122.62$149.07$179.68$214.94
8.0%$79.88$98.18$119.44$144.01$172.27
9.0%$66.02$81.26$98.93$119.33$142.77
10.0%$55.84$68.84$83.90$101.25$121.17
11.0%$48.05$59.35$72.41$87.44$104.68

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $7.08
Yahoo: $24.18

Results

Graham Number$62.06
Current Price$166.87
Margin of Safety-62.8%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$166.87
Implied Near-term FCF Growth13.2%
Historical Revenue Growth2.2%
Historical Earnings Growth-11.6%
Base FCF (TTM)$12.12B
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: $4.77

Results

DDM Intrinsic Value / share$98.26
Current Price$166.87
Upside / Downside-41.1%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $23.47B
Current: 14.6×
Default: $23.92B

Results

Implied Equity Value / share$167.09
Current Price$166.87
Upside / Downside+0.1%
Implied EV$342.75B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$11.92B$17.92B$23.92B$29.92B$35.92B
10.6x$124.17$121.03$117.88$114.74$111.59
12.6x$148.77$145.63$142.48$139.34$136.20
14.6x$173.38$170.23$167.09$163.94$160.80
16.6x$197.98$194.84$191.69$188.55$185.40
18.6x$222.58$219.44$216.29$213.15$210.00