NWBI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.63)
DCF	$-3.57	-128.3%
Graham Number	$16.37	+29.6%
Reverse DCF	—	—
DDM	$16.48	+30.5%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 25.1% / EPS: 14.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.57%

Computed WACC: 5.57%

Cost of equity (Re)7.94%(Rf 4.30% + β 0.66 × 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)70.25%

Debt weight (D/V)29.75%

Results

Intrinsic Value / share$-3.57

Current Price$12.63

Upside / Downside-128.3%

Net Debt (used)$521.86M

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

WACC \ Near-term	17.1%	21.1%	25.1%	29.1%	33.1%
7.0%	$-3.57	$-3.57	$-3.57	$-3.57	$-3.57
8.0%	$-3.57	$-3.57	$-3.57	$-3.57	$-3.57
9.0%	$-3.57	$-3.57	$-3.57	$-3.57	$-3.57
10.0%	$-3.57	$-3.57	$-3.57	$-3.57	$-3.57
11.0%	$-3.57	$-3.57	$-3.57	$-3.57	$-3.57

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.92

Book Value / share($)Yahoo: $12.94

Results

Graham Number$16.37

Current Price$12.63

Margin of Safety+29.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.57%

Terminal growth rate(%)

Computed WACC: 5.57%

Cost of equity (Re)7.94%(Rf 4.30% + β 0.66 × 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)70.25%

Debt weight (D/V)29.75%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$12.63

Implied Near-term FCF Growth—

Historical Revenue Growth25.1%

Historical Earnings Growth14.3%

Base FCF (TTM)—

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: $0.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$16.48

Current Price$12.63

Upside / Downside+30.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $521.86M

Results

Implied Equity Value / share$-3.57

Current Price$12.63

Upside / Downside-128.3%

Implied EV$0

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