Intrinsic value of Shopify Cl A - SHOP

Previous Close

$96.27

  Intrinsic Value

$1.78

stock screener

  Rating & Target

str. sell

-98%

  Value-price divergence*

+256%

Previous close

$96.27

 
Intrinsic value

$1.78

 
Up/down potential

-98%

 
Rating

str. sell

 
Value-price divergence*

+256%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of SHOP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 8.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  89.76
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  389
  622
  962
  1,438
  2,087
  2,944
  4,047
  5,432
  7,133
  9,179
  11,593
  14,396
  17,601
  21,215
  25,242
  29,680
  34,525
  39,769
  45,406
  51,424
  57,816
  64,573
  71,688
  79,155
  86,971
  95,135
  103,649
  112,514
  121,738
  131,329
  141,298
Variable operating expenses, $m
 
  676
  1,043
  1,559
  2,261
  3,189
  4,384
  5,884
  7,726
  9,941
  12,556
  15,590
  19,060
  22,973
  27,334
  32,140
  37,386
  43,066
  49,169
  55,687
  62,609
  69,925
  77,630
  85,716
  94,180
  103,021
  112,240
  121,840
  131,829
  142,215
  153,010
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  427
  676
  1,043
  1,559
  2,261
  3,189
  4,384
  5,884
  7,726
  9,941
  12,556
  15,590
  19,060
  22,973
  27,334
  32,140
  37,386
  43,066
  49,169
  55,687
  62,609
  69,925
  77,630
  85,716
  94,180
  103,021
  112,240
  121,840
  131,829
  142,215
  153,010
Operating income, $m
  -37
  -53
  -81
  -121
  -175
  -246
  -337
  -452
  -593
  -762
  -963
  -1,193
  -1,459
  -1,758
  -2,092
  -2,460
  -2,862
  -3,296
  -3,764
  -4,262
  -4,792
  -5,352
  -5,942
  -6,561
  -7,209
  -7,885
  -8,591
  -9,326
  -10,091
  -10,885
  -11,712
EBITDA, $m
  -23
  -44
  -69
  -103
  -149
  -210
  -289
  -387
  -509
  -654
  -826
  -1,026
  -1,255
  -1,512
  -1,799
  -2,116
  -2,461
  -2,835
  -3,237
  -3,666
  -4,122
  -4,603
  -5,110
  -5,643
  -6,200
  -6,782
  -7,389
  -8,021
  -8,678
  -9,362
  -10,073
Interest expense (income), $m
  0
  0
  2
  4
  8
  12
  18
  26
  36
  48
  62
  79
  99
  122
  147
  175
  207
  241
  278
  318
  360
  405
  453
  503
  555
  610
  668
  728
  790
  855
  923
Earnings before tax, $m
  -35
  -54
  -83
  -125
  -182
  -258
  -355
  -478
  -629
  -810
  -1,025
  -1,273
  -1,558
  -1,880
  -2,239
  -2,636
  -3,068
  -3,537
  -4,041
  -4,580
  -5,152
  -5,757
  -6,395
  -7,064
  -7,764
  -8,496
  -9,259
  -10,054
  -10,881
  -11,741
  -12,635
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -35
  -54
  -83
  -125
  -182
  -258
  -355
  -478
  -629
  -810
  -1,025
  -1,273
  -1,558
  -1,880
  -2,239
  -2,636
  -3,068
  -3,537
  -4,041
  -4,580
  -5,152
  -5,757
  -6,395
  -7,064
  -7,764
  -8,496
  -9,259
  -10,054
  -10,881
  -11,741
  -12,635

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  404
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  491
  139
  215
  322
  467
  658
  905
  1,215
  1,595
  2,053
  2,593
  3,220
  3,937
  4,745
  5,646
  6,638
  7,722
  8,895
  10,156
  11,502
  12,931
  14,443
  16,034
  17,704
  19,452
  21,278
  23,182
  25,165
  27,228
  29,374
  31,603
Adjusted assets (=assets-cash), $m
  87
  139
  215
  322
  467
  658
  905
  1,215
  1,595
  2,053
  2,593
  3,220
  3,937
  4,745
  5,646
  6,638
  7,722
  8,895
  10,156
  11,502
  12,931
  14,443
  16,034
  17,704
  19,452
  21,278
  23,182
  25,165
  27,228
  29,374
  31,603
Revenue / Adjusted assets
  4.471
  4.475
  4.474
  4.466
  4.469
  4.474
  4.472
  4.471
  4.472
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
  4.471
Average production assets, $m
  45
  72
  112
  167
  242
  341
  469
  630
  827
  1,065
  1,345
  1,670
  2,042
  2,461
  2,928
  3,443
  4,005
  4,613
  5,267
  5,965
  6,707
  7,490
  8,316
  9,182
  10,089
  11,036
  12,023
  13,052
  14,122
  15,234
  16,391
Working capital, $m
  356
  -62
  -96
  -144
  -209
  -294
  -405
  -543
  -713
  -918
  -1,159
  -1,440
  -1,760
  -2,122
  -2,524
  -2,968
  -3,452
  -3,977
  -4,541
  -5,142
  -5,782
  -6,457
  -7,169
  -7,916
  -8,697
  -9,514
  -10,365
  -11,251
  -12,174
  -13,133
  -14,130
Total debt, $m
  14
  58
  127
  222
  353
  526
  748
  1,027
  1,369
  1,781
  2,267
  2,831
  3,476
  4,204
  5,014
  5,907
  6,883
  7,938
  9,073
  10,285
  11,571
  12,931
  14,364
  15,867
  17,440
  19,084
  20,797
  22,582
  24,439
  26,369
  28,376
Total liabilities, $m
  80
  125
  194
  289
  420
  593
  815
  1,094
  1,436
  1,848
  2,334
  2,898
  3,543
  4,271
  5,081
  5,974
  6,950
  8,005
  9,140
  10,352
  11,638
  12,998
  14,431
  15,934
  17,507
  19,151
  20,864
  22,649
  24,506
  26,436
  28,443
Total equity, $m
  410
  14
  22
  32
  47
  66
  91
  122
  160
  205
  259
  322
  394
  475
  565
  664
  772
  889
  1,016
  1,150
  1,293
  1,444
  1,603
  1,770
  1,945
  2,128
  2,318
  2,517
  2,723
  2,937
  3,160
Total liabilities and equity, $m
  490
  139
  216
  321
  467
  659
  906
  1,216
  1,596
  2,053
  2,593
  3,220
  3,937
  4,746
  5,646
  6,638
  7,722
  8,894
  10,156
  11,502
  12,931
  14,442
  16,034
  17,704
  19,452
  21,279
  23,182
  25,166
  27,229
  29,373
  31,603
Debt-to-equity ratio
  0.034
  4.190
  5.880
  6.920
  7.560
  7.980
  8.260
  8.450
  8.580
  8.670
  8.740
  8.790
  8.830
  8.860
  8.880
  8.900
  8.910
  8.920
  8.930
  8.940
  8.950
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
Adjusted equity ratio
  0.069
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -35
  -54
  -83
  -125
  -182
  -258
  -355
  -478
  -629
  -810
  -1,025
  -1,273
  -1,558
  -1,880
  -2,239
  -2,636
  -3,068
  -3,537
  -4,041
  -4,580
  -5,152
  -5,757
  -6,395
  -7,064
  -7,764
  -8,496
  -9,259
  -10,054
  -10,881
  -11,741
  -12,635
Depreciation, amort., depletion, $m
  14
  9
  13
  18
  26
  36
  49
  65
  84
  108
  136
  167
  204
  246
  293
  344
  400
  461
  527
  597
  671
  749
  832
  918
  1,009
  1,104
  1,202
  1,305
  1,412
  1,523
  1,639
Funds from operations, $m
  37
  -45
  -71
  -107
  -157
  -222
  -307
  -413
  -544
  -702
  -889
  -1,106
  -1,354
  -1,634
  -1,947
  -2,291
  -2,668
  -3,076
  -3,515
  -3,983
  -4,482
  -5,008
  -5,563
  -6,145
  -6,755
  -7,392
  -8,057
  -8,749
  -9,469
  -10,217
  -10,996
Change in working capital, $m
  23
  -23
  -34
  -48
  -65
  -86
  -110
  -139
  -170
  -205
  -241
  -280
  -320
  -361
  -403
  -444
  -484
  -524
  -564
  -602
  -639
  -676
  -711
  -747
  -782
  -816
  -851
  -887
  -922
  -959
  -997
Cash from operations, $m
  14
  -21
  -37
  -59
  -92
  -136
  -197
  -275
  -374
  -498
  -647
  -825
  -1,033
  -1,273
  -1,544
  -1,847
  -2,183
  -2,551
  -2,951
  -3,382
  -3,842
  -4,333
  -4,852
  -5,399
  -5,974
  -6,576
  -7,205
  -7,862
  -8,546
  -9,258
  -9,999
Maintenance CAPEX, $m
  0
  -5
  -7
  -11
  -17
  -24
  -34
  -47
  -63
  -83
  -106
  -134
  -167
  -204
  -246
  -293
  -344
  -400
  -461
  -527
  -597
  -671
  -749
  -832
  -918
  -1,009
  -1,104
  -1,202
  -1,305
  -1,412
  -1,523
New CAPEX, $m
  -26
  -27
  -39
  -55
  -75
  -99
  -128
  -161
  -197
  -237
  -280
  -325
  -372
  -419
  -467
  -515
  -562
  -608
  -654
  -698
  -741
  -784
  -825
  -866
  -907
  -947
  -988
  -1,028
  -1,070
  -1,113
  -1,156
Cash from investing activities, $m
  -270
  -32
  -46
  -66
  -92
  -123
  -162
  -208
  -260
  -320
  -386
  -459
  -539
  -623
  -713
  -808
  -906
  -1,008
  -1,115
  -1,225
  -1,338
  -1,455
  -1,574
  -1,698
  -1,825
  -1,956
  -2,092
  -2,230
  -2,375
  -2,525
  -2,679
Free cash flow, $m
  -256
  -53
  -83
  -126
  -184
  -260
  -359
  -483
  -635
  -818
  -1,034
  -1,285
  -1,572
  -1,896
  -2,257
  -2,655
  -3,090
  -3,560
  -4,066
  -4,606
  -5,180
  -5,787
  -6,426
  -7,096
  -7,799
  -8,532
  -9,296
  -10,093
  -10,921
  -11,783
  -12,679
Issuance/(repayment) of debt, $m
  0
  45
  68
  96
  131
  173
  222
  279
  342
  412
  486
  564
  645
  728
  811
  893
  975
  1,056
  1,135
  1,212
  1,287
  1,360
  1,432
  1,503
  1,573
  1,643
  1,714
  1,785
  1,857
  1,931
  2,007
Issuance/(repurchase) of shares, $m
  229
  61
  91
  136
  197
  277
  380
  509
  667
  856
  1,079
  1,335
  1,630
  1,961
  2,329
  2,735
  3,177
  3,655
  4,167
  4,715
  5,295
  5,908
  6,554
  7,231
  7,939
  8,678
  9,449
  10,252
  11,087
  11,955
  12,858
Cash from financing (excl. dividends), $m  
  229
  106
  159
  232
  328
  450
  602
  788
  1,009
  1,268
  1,565
  1,899
  2,275
  2,689
  3,140
  3,628
  4,152
  4,711
  5,302
  5,927
  6,582
  7,268
  7,986
  8,734
  9,512
  10,321
  11,163
  12,037
  12,944
  13,886
  14,865
Total cash flow (excl. dividends), $m
  -26
  53
  76
  106
  144
  190
  244
  305
  375
  450
  531
  615
  703
  792
  883
  973
  1,062
  1,150
  1,236
  1,320
  1,402
  1,482
  1,560
  1,637
  1,714
  1,790
  1,867
  1,944
  2,023
  2,103
  2,186
Retained Cash Flow (-), $m
  -215
  -61
  -91
  -136
  -197
  -277
  -380
  -509
  -667
  -856
  -1,079
  -1,335
  -1,630
  -1,961
  -2,329
  -2,735
  -3,177
  -3,655
  -4,167
  -4,715
  -5,295
  -5,908
  -6,554
  -7,231
  -7,939
  -8,678
  -9,449
  -10,252
  -11,087
  -11,955
  -12,858
Prev. year cash balance distribution, $m
 
  403
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  395
  -15
  -30
  -53
  -88
  -137
  -204
  -292
  -406
  -548
  -721
  -927
  -1,168
  -1,446
  -1,762
  -2,114
  -2,505
  -2,932
  -3,395
  -3,894
  -4,427
  -4,994
  -5,593
  -6,225
  -6,888
  -7,583
  -8,308
  -9,065
  -9,852
  -10,672
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  379
  -14
  -26
  -44
  -68
  -99
  -138
  -183
  -233
  -287
  -342
  -396
  -444
  -486
  -517
  -537
  -545
  -540
  -523
  -495
  -458
  -414
  -367
  -317
  -268
  -221
  -178
  -140
  -108
  -80
Current shareholders' claim on cash, %
  100
  53.6
  32.4
  19.9
  12.3
  7.7
  4.9
  3.1
  2.0
  1.3
  0.9
  0.6
  0.4
  0.3
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Shopify Inc. provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of their business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables them to manage products and inventory, process orders and payments, ship orders, build customer relationships, and leverage analytics and reporting. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was founded in 2004 and is headquartered in Ottawa, Canada.

FINANCIAL RATIOS  of  Shopify Cl A (SHOP)

Valuation Ratios
P/E Ratio -245.9
Price to Sales 22.1
Price to Book 21
Price to Tangible Book
Price to Cash Flow 614.8
Price to Free Cash Flow -717.3
Growth Rates
Sales Growth Rate 89.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 23.8%
Cap. Spend. - 3 Yr. Gr. Rate 39.1%
Financial Strength
Quick Ratio 404
Current Ratio 0.1
LT Debt to Equity 3.2%
Total Debt to Equity 3.4%
Interest Coverage 0
Management Effectiveness
Return On Assets -9.5%
Ret/ On Assets - 3 Yr. Avg. -14.6%
Return On Total Capital -11.1%
Ret/ On T. Cap. - 3 Yr. Avg. -17.3%
Return On Equity -11.6%
Return On Equity - 3 Yr. Avg. -18.3%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 54%
Gross Margin - 3 Yr. Avg. 56.1%
EBITDA Margin -5.4%
EBITDA Margin - 3 Yr. Avg. -9.1%
Operating Margin -9.8%
Oper. Margin - 3 Yr. Avg. -13.2%
Pre-Tax Margin -9%
Pre-Tax Margin - 3 Yr. Avg. -13.1%
Net Profit Margin -9%
Net Profit Margin - 3 Yr. Avg. -13.1%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

SHOP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SHOP stock intrinsic value calculation we used $389 million for the last fiscal year's total revenue generated by Shopify Cl A. The default revenue input number comes from 2016 income statement of Shopify Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SHOP stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SHOP is calculated based on our internal credit rating of Shopify Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Shopify Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SHOP stock the variable cost ratio is equal to 108.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SHOP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Shopify Cl A.

Corporate tax rate of 27% is the nominal tax rate for Shopify Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SHOP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SHOP are equal to 11.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Shopify Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SHOP is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $410 million for Shopify Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 88.349 million for Shopify Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Shopify Cl A at the current share price and the inputted number of shares is $8.5 billion.

RELATED COMPANIES Price Int.Val. Rating
GSUM Gridsum Holdin 8.31 7.49  hold
YHOO Yahoo! 52.58 8.04  str.sell
TCX Tucows 52.70 1,918.37  str.buy
ICE Intercontinent 64.55 1,074.23  str.buy
TWTR Twitter 16.11 2.40  str.sell

COMPANY NEWS

▶ Better Buy: Shopify Inc. vs. eBay Inc.   [Aug-18-17 07:49PM  Motley Fool]
▶ Shopify Inc: The Bear Case From a Bull   [Aug-16-17 07:30PM  Motley Fool]
▶ How Shopify Inc. Makes Most of Its Money   [Aug-15-17 04:24PM  Motley Fool]
▶ An E-Commerce Winner Not Named Amazon   [Aug-14-17 08:46PM  Motley Fool]
▶ 1 Thing Shopify Does Right   [Aug-13-17 04:09PM  Motley Fool]
▶ Snap Inc (SNAP) Stock Cant Hide Behind Its Earnings   [Aug-09-17 07:01PM  InvestorPlace]
▶ What Is Square's Competitive Advantage?   [01:16PM  Motley Fool]
▶ Shopify Shares Spike on Earnings   [Aug-05-17 04:50PM  Motley Fool]
▶ Shopify Continues Its Torrid Growth   [06:17PM  Motley Fool]
▶ Shopify, Inc. Value Analysis (NYSE:SHOP) : August 4, 2017   [Aug-03-17 11:26PM  Capital Cube]
▶ 3 Companies Whose Revenue Could Double This Year   [Aug-02-17 06:35PM  Motley Fool]
▶ Shopify reports 2Q loss   [Aug-01-17 09:33PM  Associated Press]
▶ Shopify Stock Breaks Out After Q2 Beat   [06:08PM  Investopedia]
▶ Why Shares of Shopify Popped Today   [05:03PM  Motley Fool]
▶ Why We Love This Ski-Bum Founder   [09:39AM  Motley Fool]
▶ Here's How Shopify Scored Double-Digit Gains On Earnings   [08:14AM  Investor's Business Daily]
▶ Shopify's 2nd-qtr loss widens   [07:07AM  Reuters]
▶ ETFs with exposure to Shopify, Inc. : July 31, 2017   [Jul-31-17 05:07PM  Capital Cube]
▶ The Biggest Risks With Shopify   [Jul-29-17 01:20PM  Motley Fool]
▶ Shopify Is Just Scratching the Surface   [01:15PM  Motley Fool]
▶ Forget Costco: These 3 Stocks Have Doubled This Year   [Jul-28-17 07:36PM  Motley Fool]
▶ How Risky Is Shopify Inc. (U.S.) Stock?   [10:00AM  Motley Fool]
▶ 3 Stocks With MercadoLibre-Like Return Potential   [Jul-24-17 09:43PM  Motley Fool]
▶ 3 Stocks That Amazon Can't Stop   [Jul-23-17 12:02PM  Motley Fool]
▶ Forget Square, Inc.: These 4 Stocks Doubled Last Year   [Jul-22-17 08:12AM  Motley Fool]
▶ ETFs with exposure to Shopify, Inc. : July 21, 2017   [Jul-21-17 02:00PM  Capital Cube]
▶ Better Buy: Shopify Inc. (U.S.) vs. Zendesk Inc.   [Jul-20-17 09:45AM  Motley Fool]
▶ Unheralded eBay Inc (EBAY) Stock Looks to Add to Big 2017   [Jul-19-17 10:34AM  InvestorPlace]
▶ These 3 Stocks Have Doubled Investors' Money in 2017   [Jul-17-17 06:06AM  Motley Fool]
▶ 3 Stocks With Shopify-Like Return Potential   [Jul-16-17 08:33AM  Motley Fool]
▶ 2 Ways to Play E-Commerce That Are Better Than Amazon   [Jul-13-17 07:06PM  Motley Fool]
▶ Story Stocks from Briefing.com   [09:54AM  Briefing.com]
▶ Shopify Named Official Commerce Partner of Agenda Festival   [Jul-12-17 09:00AM  Business Wire]
▶ 3 Growth Stocks for Shrewd Investors   [Jul-11-17 03:30PM  Motley Fool]
▶ ETFs with exposure to Shopify, Inc. : July 10, 2017   [Jul-10-17 03:15PM  Capital Cube]
▶ 3 Stocks With eBay-Like Return Potential   [Jul-08-17 09:20AM  Motley Fool]
▶ 3 Stocks That Have More Than Doubled in 2017   [Jul-06-17 09:05AM  Motley Fool]
▶ Why a Value Investor Bought Shopify Stock   [Jul-01-17 02:17PM  Motley Fool]
▶ Could Shopify Be a Millionaire Maker Stock?   [Jun-30-17 11:12AM  Motley Fool]
▶ ETFs with exposure to Shopify, Inc. : June 27, 2017   [Jun-27-17 03:44PM  Capital Cube]
▶ 3 Stocks With Shopify-Like Return Potential   [Jun-24-17 08:13AM  Motley Fool]
▶ 5 Small Stocks for the Next Decade   [Jun-22-17 04:44PM  Motley Fool]
▶ How High Can Shopify Inc (US) (SHOP) Stock Fly?   [Jun-20-17 10:08AM  InvestorPlace]
▶ Keeping Losses Small Is Critical To Portfolio Progress   [Jun-15-17 04:07PM  Investor's Business Daily]
▶ 3 Growth Stocks for Smart Investors   [03:31PM  Motley Fool]
▶ Why Shopify Stock Popped 19% in May   [09:00AM  Motley Fool]
Stock chart of SHOP Financial statements of SHOP
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.