Fair value (1.8x sales) multiplies each year's revenue per share by the price-to-sales ratio investors have typically paid for NXCLF — the median of the last 20 fiscal years' average price over that year's revenue per share. The line extends forward with analyst revenue estimates (dashed).
Revenue comes from reported quarters; share counts come from market value divided by the share price, so buybacks and splits are handled correctly. The verdict calls a stock over- or undervalued only when the price sits more than 10% from the line. Analyst estimates for this listing are published in its home currency; they are converted to the reported basis using the historical relationship between the two.