Insert Value in yellow cells

Stock Name Shopify Inc.

Stock Symbol SHOP

Share Price $1,065.00

Operating cash flow (current) $70.62 millions

Total Debt (Short Debt + LT Debt) $152.00 millions
Cash and short term investments $2,455.00 millions
Cash flow growth rate (1 - 5 years) 5.00% percentage
Cash flow growth rate (6 - 10 years) 5.00% percentage

Nr of shares outstanding 119.00 millions

PV of 10 years Cash Flows $578.22 millions

Intrinsic Value before cash/debt $4.86
Less (-) Debt per Share $1.28
Plus (+) Cash per Share $20.63
Final Intrinsic Value per Share $24.21

Current Year 4/10/2020

Discount Rate 9.0%
BETA 1.66

Year 2021 2022 2023

Cash Flow (Projected) 74.15 77.85 81.75
Discount Factor 1.09 1.19 1.30
Discount Value 68.02 65.53 63.12

Discount Factor 74.15 77.85 81.75

Discount Value 68.02 65.53 63.12
 Chart Title
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Row 35 Row 36
 Operating cash flow (current) Cash flow statem
Total Debt (Short Debt + LT Debt) Balance sheet
Cash and short term investments Balance sheet

Discount Rate Selection

BETA DISCOUNT RATE

LESS < 0.8 5.00%
1 6.00%
1.1 6.50%
1.2 7.00%
1.3 7.50%
1.4 8.00%
1.5 8.50%
MORE > 1.6 9.00%

2024 2025 2026 2027 2028

85.83 90.12 94.63 99.36 104.33
1.41 1.54 1.68 1.83 1.99
60.81 58.57 56.43 54.35 52.36

85.83 90.12 94.63 99.36 104.33

60.81 58.57 56.43 54.35 52.36
7 8 9 10
 2029 2030
109.55 115.02
2.17 2.37
50.44 48.59

109.55 115.02
50.44 48.59
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