Intrinsic value of Square Cl A - SQ

Previous Close

$69.81

  Intrinsic Value

$241.19

stock screener

  Rating & Target

str. buy

+245%

Previous close

$69.81

 
Intrinsic value

$241.19

 
Up/down potential

+245%

 
Rating

str. buy

We calculate the intrinsic value of SQ 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 0001), $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 21.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  47.80
  43.52
  39.67
  36.20
  33.08
  30.27
  27.75
  25.47
  23.42
  21.58
  19.92
  18.43
  17.09
  15.88
  14.79
  13.81
  12.93
  12.14
  11.42
  10.78
  10.20
  9.68
  9.21
  8.79
  8.41
  8.07
  7.77
  7.49
  7.24
  7.02
Revenue, $m
  3,273
  4,697
  6,560
  8,935
  11,891
  15,490
  19,788
  24,829
  30,644
  37,258
  44,681
  52,916
  61,959
  71,797
  82,417
  93,800
  105,930
  118,787
  132,358
  146,628
  161,589
  177,236
  193,568
  210,589
  228,308
  246,738
  265,899
  285,811
  306,504
  328,008
Variable operating expenses, $m
  2,520
  3,613
  5,044
  6,867
  9,136
  11,900
  15,199
  19,069
  23,534
  28,611
  34,303
  40,625
  47,567
  55,120
  63,273
  72,012
  81,324
  91,195
  101,613
  112,569
  124,055
  136,067
  148,606
  161,673
  175,276
  189,426
  204,135
  219,423
  235,309
  251,818
Fixed operating expenses, $m
  588
  601
  614
  627
  641
  655
  670
  684
  699
  715
  731
  747
  763
  780
  797
  814
  832
  851
  869
  889
  908
  928
  949
  969
  991
  1,012
  1,035
  1,058
  1,081
  1,105
Total operating expenses, $m
  3,108
  4,214
  5,658
  7,494
  9,777
  12,555
  15,869
  19,753
  24,233
  29,326
  35,034
  41,372
  48,330
  55,900
  64,070
  72,826
  82,156
  92,046
  102,482
  113,458
  124,963
  136,995
  149,555
  162,642
  176,267
  190,438
  205,170
  220,481
  236,390
  252,923
Operating income, $m
  165
  483
  903
  1,441
  2,114
  2,936
  3,920
  5,076
  6,411
  7,932
  9,648
  11,545
  13,629
  15,897
  18,347
  20,974
  23,773
  26,741
  29,875
  33,170
  36,626
  40,241
  44,014
  47,947
  52,041
  56,300
  60,729
  65,331
  70,114
  75,086
EBITDA, $m
  210
  544
  985
  1,550
  2,256
  3,120
  4,152
  5,366
  6,768
  8,364
  10,157
  12,148
  14,335
  16,716
  19,287
  22,043
  24,981
  28,096
  31,384
  34,842
  38,468
  42,261
  46,220
  50,347
  54,644
  59,113
  63,760
  68,589
  73,608
  78,825
Interest expense (income), $m
  1
  19
  55
  104
  168
  249
  350
  473
  620
  792
  990
  1,216
  1,470
  1,751
  2,060
  2,396
  2,759
  3,148
  3,562
  4,001
  4,464
  4,952
  5,463
  5,997
  6,555
  7,137
  7,742
  8,371
  9,026
  9,706
  10,413
Earnings before tax, $m
  146
  428
  799
  1,273
  1,865
  2,586
  3,447
  4,456
  5,620
  6,942
  8,432
  10,075
  11,878
  13,837
  15,951
  18,215
  20,626
  23,180
  25,874
  28,706
  31,674
  34,778
  38,016
  41,391
  44,905
  48,559
  52,357
  56,305
  60,409
  64,673
Tax expense, $m
  39
  115
  216
  344
  503
  698
  931
  1,203
  1,517
  1,874
  2,277
  2,720
  3,207
  3,736
  4,307
  4,918
  5,569
  6,258
  6,986
  7,751
  8,552
  9,390
  10,264
  11,176
  12,124
  13,111
  14,136
  15,202
  16,310
  17,462
Net income, $m
  107
  312
  583
  929
  1,361
  1,888
  2,516
  3,253
  4,102
  5,068
  6,155
  7,355
  8,671
  10,101
  11,644
  13,297
  15,057
  16,921
  18,888
  20,955
  23,122
  25,388
  27,752
  30,216
  32,780
  35,448
  38,221
  41,103
  44,098
  47,211

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  3,224
  4,628
  6,463
  8,803
  11,715
  15,261
  19,496
  24,462
  30,192
  36,707
  44,021
  52,134
  61,043
  70,736
  81,199
  92,414
  104,364
  117,032
  130,402
  144,461
  159,201
  174,617
  190,707
  207,477
  224,934
  243,092
  261,969
  281,587
  301,974
  323,160
Adjusted assets (=assets-cash), $m
  3,224
  4,628
  6,463
  8,803
  11,715
  15,261
  19,496
  24,462
  30,192
  36,707
  44,021
  52,134
  61,043
  70,736
  81,199
  92,414
  104,364
  117,032
  130,402
  144,461
  159,201
  174,617
  190,707
  207,477
  224,934
  243,092
  261,969
  281,587
  301,974
  323,160
Revenue / Adjusted assets
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
  1.015
Average production assets, $m
  187
  268
  374
  509
  678
  883
  1,128
  1,415
  1,747
  2,124
  2,547
  3,016
  3,532
  4,092
  4,698
  5,347
  6,038
  6,771
  7,544
  8,358
  9,211
  10,102
  11,033
  12,004
  13,014
  14,064
  15,156
  16,291
  17,471
  18,696
Working capital, $m
  -255
  -366
  -512
  -697
  -927
  -1,208
  -1,543
  -1,937
  -2,390
  -2,906
  -3,485
  -4,127
  -4,833
  -5,600
  -6,429
  -7,316
  -8,263
  -9,265
  -10,324
  -11,437
  -12,604
  -13,824
  -15,098
  -16,426
  -17,808
  -19,246
  -20,740
  -22,293
  -23,907
  -25,585
Total debt, $m
  1,028
  1,929
  3,107
  4,609
  6,479
  8,756
  11,474
  14,662
  18,341
  22,524
  27,219
  32,428
  38,147
  44,370
  51,087
  58,288
  65,959
  74,092
  82,675
  91,702
  101,165
  111,062
  121,392
  132,158
  143,365
  155,023
  167,142
  179,737
  192,825
  206,427
Total liabilities, $m
  2,070
  2,971
  4,149
  5,651
  7,521
  9,798
  12,516
  15,704
  19,383
  23,566
  28,261
  33,470
  39,190
  45,413
  52,130
  59,330
  67,002
  75,134
  83,718
  92,744
  102,207
  112,104
  122,434
  133,200
  144,408
  156,065
  168,184
  180,779
  193,867
  207,469
Total equity, $m
  1,154
  1,657
  2,314
  3,151
  4,194
  5,464
  6,980
  8,757
  10,809
  13,141
  15,759
  18,664
  21,853
  25,324
  29,069
  33,084
  37,362
  41,897
  46,684
  51,717
  56,994
  62,513
  68,273
  74,277
  80,526
  87,027
  93,785
  100,808
  108,107
  115,691
Total liabilities and equity, $m
  3,224
  4,628
  6,463
  8,802
  11,715
  15,262
  19,496
  24,461
  30,192
  36,707
  44,020
  52,134
  61,043
  70,737
  81,199
  92,414
  104,364
  117,031
  130,402
  144,461
  159,201
  174,617
  190,707
  207,477
  224,934
  243,092
  261,969
  281,587
  301,974
  323,160
Debt-to-equity ratio
  0.890
  1.160
  1.340
  1.460
  1.540
  1.600
  1.640
  1.670
  1.700
  1.710
  1.730
  1.740
  1.750
  1.750
  1.760
  1.760
  1.770
  1.770
  1.770
  1.770
  1.780
  1.780
  1.780
  1.780
  1.780
  1.780
  1.780
  1.780
  1.780
  1.780
Adjusted equity ratio
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358
  0.358

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  107
  312
  583
  929
  1,361
  1,888
  2,516
  3,253
  4,102
  5,068
  6,155
  7,355
  8,671
  10,101
  11,644
  13,297
  15,057
  16,921
  18,888
  20,955
  23,122
  25,388
  27,752
  30,216
  32,780
  35,448
  38,221
  41,103
  44,098
  47,211
Depreciation, amort., depletion, $m
  45
  61
  82
  109
  143
  184
  233
  290
  357
  432
  509
  603
  706
  818
  940
  1,069
  1,208
  1,354
  1,509
  1,672
  1,842
  2,020
  2,207
  2,401
  2,603
  2,813
  3,031
  3,258
  3,494
  3,739
Funds from operations, $m
  151
  373
  665
  1,038
  1,504
  2,072
  2,749
  3,543
  4,459
  5,500
  6,665
  7,958
  9,377
  10,920
  12,584
  14,366
  16,264
  18,275
  20,397
  22,627
  24,964
  27,408
  29,959
  32,616
  35,383
  38,261
  41,252
  44,361
  47,592
  50,951
Change in working capital, $m
  -83
  -111
  -145
  -185
  -231
  -281
  -335
  -393
  -454
  -516
  -579
  -642
  -705
  -767
  -828
  -888
  -946
  -1,003
  -1,058
  -1,113
  -1,167
  -1,220
  -1,274
  -1,328
  -1,382
  -1,438
  -1,494
  -1,553
  -1,614
  -1,677
Cash from operations, $m
  234
  484
  810
  1,224
  1,735
  2,352
  3,084
  3,936
  4,913
  6,015
  7,244
  8,600
  10,082
  11,687
  13,412
  15,254
  17,210
  19,278
  21,455
  23,740
  26,131
  28,629
  31,233
  33,944
  36,765
  39,698
  42,747
  45,914
  49,206
  52,628
Maintenance CAPEX, $m
  -25
  -37
  -54
  -75
  -102
  -136
  -177
  -226
  -283
  -349
  -425
  -509
  -603
  -706
  -818
  -940
  -1,069
  -1,208
  -1,354
  -1,509
  -1,672
  -1,842
  -2,020
  -2,207
  -2,401
  -2,603
  -2,813
  -3,031
  -3,258
  -3,494
New CAPEX, $m
  -59
  -81
  -106
  -135
  -168
  -205
  -245
  -287
  -332
  -377
  -423
  -469
  -515
  -561
  -605
  -649
  -691
  -733
  -774
  -813
  -853
  -892
  -931
  -970
  -1,010
  -1,051
  -1,092
  -1,135
  -1,179
  -1,226
Cash from investing activities, $m
  -84
  -118
  -160
  -210
  -270
  -341
  -422
  -513
  -615
  -726
  -848
  -978
  -1,118
  -1,267
  -1,423
  -1,589
  -1,760
  -1,941
  -2,128
  -2,322
  -2,525
  -2,734
  -2,951
  -3,177
  -3,411
  -3,654
  -3,905
  -4,166
  -4,437
  -4,720
Free cash flow, $m
  149
  366
  651
  1,014
  1,464
  2,012
  2,663
  3,423
  4,298
  5,289
  6,396
  7,622
  8,964
  10,420
  11,988
  13,666
  15,450
  17,338
  19,328
  21,418
  23,607
  25,895
  28,281
  30,767
  33,354
  36,045
  38,842
  41,748
  44,769
  47,908
Issuance/(repayment) of debt, $m
  669
  901
  1,178
  1,502
  1,870
  2,277
  2,718
  3,188
  3,679
  4,183
  4,695
  5,209
  5,719
  6,223
  6,717
  7,200
  7,672
  8,133
  8,583
  9,026
  9,463
  9,897
  10,330
  10,766
  11,207
  11,657
  12,119
  12,595
  13,088
  13,602
Issuance/(repurchase) of shares, $m
  267
  190
  74
  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 from financing (excl. dividends), $m  
  936
  1,091
  1,252
  1,502
  1,870
  2,277
  2,718
  3,188
  3,679
  4,183
  4,695
  5,209
  5,719
  6,223
  6,717
  7,200
  7,672
  8,133
  8,583
  9,026
  9,463
  9,897
  10,330
  10,766
  11,207
  11,657
  12,119
  12,595
  13,088
  13,602
Total cash flow (excl. dividends), $m
  1,085
  1,457
  1,903
  2,516
  3,334
  4,288
  5,381
  6,612
  7,977
  9,472
  11,091
  12,831
  14,683
  16,643
  18,705
  20,866
  23,122
  25,470
  27,911
  30,444
  33,070
  35,792
  38,611
  41,533
  44,562
  47,702
  50,961
  54,343
  57,857
  61,510
Retained Cash Flow (-), $m
  -373
  -502
  -657
  -838
  -1,043
  -1,270
  -1,516
  -1,778
  -2,051
  -2,333
  -2,618
  -2,905
  -3,189
  -3,470
  -3,746
  -4,015
  -4,278
  -4,535
  -4,786
  -5,033
  -5,277
  -5,519
  -5,760
  -6,003
  -6,250
  -6,501
  -6,758
  -7,023
  -7,298
  -7,585
Prev. year cash balance distribution, $m
  5
  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
  717
  954
  1,246
  1,678
  2,291
  3,019
  3,865
  4,834
  5,925
  7,140
  8,473
  9,926
  11,494
  13,173
  14,960
  16,851
  18,843
  20,935
  23,125
  25,411
  27,793
  30,273
  32,851
  35,530
  38,312
  41,202
  44,203
  47,320
  50,559
  53,925
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
  687
  874
  1,084
  1,382
  1,776
  2,191
  2,611
  3,021
  3,404
  3,743
  4,024
  4,236
  4,370
  4,422
  4,392
  4,282
  4,100
  3,855
  3,561
  3,229
  2,875
  2,512
  2,153
  1,810
  1,490
  1,202
  949
  732
  552
  406
Current shareholders' claim on cash, %
  96.7
  95.1
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7
  94.7

Square, Inc. (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment. With its offering, a seller can accept payments in person via magnetic stripe (a swipe), Europay, MasterCard, and Visa (EMV) (a dip), or Near Field Communication (NFC) (a tap); or online via Square Invoices, Square Virtual Terminal, or the seller's Website. Once on its system, sellers gain access to technology and features, such as reporting and analytics, next-day settlements, digital receipts, payment dispute management and chargeback protection, and Payment Card Industry (PCI) compliance. On the consumer (buyer) side, Square Cash offers individuals access to a way to send and receive money.

FINANCIAL RATIOS  of  Square Cl A (SQ)

Valuation Ratios
P/E Ratio -148
Price to Sales 14.9
Price to Book 44.2
Price to Tangible Book
Price to Cash Flow 1106.5
Price to Free Cash Flow -8483.1
Growth Rates
Sales Growth Rate 34.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -33.3%
Cap. Spend. - 3 Yr. Gr. Rate -11.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0.2
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage -169
Management Effectiveness
Return On Assets -16.2%
Ret/ On Assets - 3 Yr. Avg. -25.6%
Return On Total Capital -31.7%
Ret/ On T. Cap. - 3 Yr. Avg. -47.4%
Return On Equity -31.7%
Return On Equity - 3 Yr. Avg. -49.5%
Asset Turnover 1.6
Profitability Ratios
Gross Margin 33.7%
Gross Margin - 3 Yr. Avg. 29.8%
EBITDA Margin -7.7%
EBITDA Margin - 3 Yr. Avg. -11.6%
Operating Margin -9.9%
Oper. Margin - 3 Yr. Avg. -13.8%
Pre-Tax Margin -9.9%
Pre-Tax Margin - 3 Yr. Avg. -13.9%
Net Profit Margin -10.1%
Net Profit Margin - 3 Yr. Avg. -14.1%
Effective Tax Rate -1.2%
Eff/ Tax Rate - 3 Yr. Avg. -1.4%
Payout Ratio 0%

SQ stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SQ stock intrinsic value calculation we used $2214.253 million for the last fiscal year's total revenue generated by Square Cl A. The default revenue input number comes from 0001 income statement of Square 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 SQ stock valuation model: a) initial revenue growth rate of 47.8% 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 SQ is calculated based on our internal credit rating of Square 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 Square 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 SQ stock the variable cost ratio is equal to 77.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $575 million in the base year in the intrinsic value calculation for SQ 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 5.4% for Square Cl A.

Corporate tax rate of 27% is the nominal tax rate for Square 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 SQ 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 SQ are equal to 5.7%.

Life of production assets of 4.4 years is the average useful life of capital assets used in Square 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 SQ is equal to -7.8%. 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 - $786.333 million for Square 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 301.612 million for Square 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 Square Cl A at the current share price and the inputted number of shares is $21.1 billion.

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COMPANY NEWS

▶ PayPal named a 'top pick' at Barclays   [Nov-14-18 09:00PM  MarketWatch]
▶ 3 Companies Hit 52-Week Lows on Earnings   [Nov-13-18 09:30PM  Motley Fool]
▶ Who are the highest-paid CFOs in the Bay Area?   [Nov-12-18 05:19PM  American City Business Journals]
▶ 3 Simple Reasons to Stick with Square   [04:12PM  Motley Fool]
▶ Why Square, Inc. Stock Fell Thursday   [02:27PM  Motley Fool]
▶ Tech Stocks Stumble; These 2 IPO Stocks Plunge On Earnings   [10:16AM  Investor's Business Daily]
▶ Stock Market News Daily Roundup November 8   [08:23AM  Market Exclusive]
▶ Square: 3Q Earnings Snapshot   [04:21PM  Associated Press]
▶ How Square Cash Makes Money (SQ)   [04:20PM  Investopedia]
▶ Square swings to quarterly profit   [04:19PM  Reuters]
▶ Square Announces Third Quarter 2018 Results   [04:05PM  Business Wire]
▶ Why this expert is neutral on Square   [03:10PM  CNBC Videos]
▶ Q3 Earnings Outlook For Square   [07:27AM  Benzinga]
▶ Earnings: 3 Hot Stocks to Watch This Week   [Nov-06-18 06:31PM  Motley Fool]
▶ Square upgraded to buy at Citi   [11:40AM  CNBC Videos]
▶ Square stock gains after Citi upgrade   [10:06AM  MarketWatch]
▶ Square Earnings: What to Watch   [Nov-05-18 08:33PM  Motley Fool]
▶ Square narrows search for new office   [04:38PM  American City Business Journals]
▶ Square's Stock May Drop 11% After Results   [06:00AM  Investopedia]
▶ 5 Top Stocks to Buy in November   [12:24PM  Motley Fool]
▶ Square Is a Fast-Growing Company in a Great Industry   [Oct-30-18 07:20PM  GuruFocus.com]

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