{"text_format":"1","workbook":"xlsx","n_sheets":6,"sheets":["DCF","Sheet1","Additional Data","Data","BBG_DATA","Help"],"not_rendered":{"charts":0,"images":8,"macros":1,"external_links":0,"defined_names":183,"comments":3,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"DCF","index":0,"n_rows":281,"n_cols":55,"rows_kept":281,"cut":false,"hidden":false,"merged":[[14,4,14,7],[22,5,22,11],[22,13,22,19],[23,5,23,8],[24,5,24,8],[23,13,23,16],[23,17,23,19],[24,13,24,16],[24,17,24,19],[23,9,23,11],[24,9,24,11],[5,10,5,11],[5,5,5,7],[7,5,7,7],[7,10,7,11],[11,4,11,20],[9,4,9,7],[7,13,7,14],[7,16,7,17],[7,19,7,20],[249,13,249,14],[231,18,231,19],[248,13,248,14],[42,4,42,20],[25,13,25,16],[25,17,25,19],[25,5,25,8],[26,5,26,8],[25,9,25,11],[26,9,26,11],[231,9,231,10],[241,9,241,10],[243,9,243,10],[243,18,243,19],[241,18,241,19],[223,4,223,11],[223,13,223,20],[246,13,246,20],[246,4,246,11],[26,13,26,16],[26,17,26,19],[44,10,45,10],[44,11,45,11],[44,12,45,12],[44,13,45,13],[44,14,45,14],[44,15,45,15],[46,6,46,9],[47,6,47,9],[221,4,221,20],[48,6,48,9]]}
[]
[]
[]
[]
[]
[null,null,null,null,"Ticker","BB CN",null,null,null,"Currency","Trading",null,null,""]
[]
[null,null,null,null,"Name","BlackBerry Ltd",null,null,null,"Data","Adjusted (If available)",null,null,"Summary Analysis",null,null,"Input Calculation",null,null,"Output Analysis",null,null,{"$f":"_xll.BDP(\"EUR CURNCY\",\"TIME\")","v":"09:52:09"}]
[]
[null,null,null,null,"In Millions of CAD",null,null,null,"Févr 10 A","Févr 11 A","Févr 12 A","Févr 13 A","Févr 14 A","Févr 15 A","Févr 16 E","Févr 17 E","Févr 18 E","Févr 19 E","Févr 20 E","Févr 21 E","Year 5"]
[]
[null,null,null,null,"Summary Analysis"]
[]
[]
[null,null,null,null,"In Millions of CAD",null,null,null,"Févr 10 A","Févr 11 A","Févr 12 A","Févr 13 A","Févr 14 A","Févr 15 A","Févr 16 E","Févr 17 E","Févr 18 E","Févr 19 E","Févr 20 E","Févr 21 E","Trend"]
[null,null,null,null,"Revenue (Estimate Comparable)",null,null,null,16617.006847678778,20323.487484188721,18356.397527269932,11061.339286188208,7128.9817041387923,3754.077391876624,2855.1240000000003,2643.5450000000001,2216.8760000000002,1270.2047763770693,850.77257308939613,640.21121259181245]
[null,null,null,null,"% YoY Growth",null,null,null," ",0.22305344581522513,-9.6788996398829097E-2,-0.39741230436115349,-0.35550465276474896,-0.47340622438445001,-0.23946053797981148,-7.4105012601904607E-2,-0.16140031662029575,-0.42702939795592115,-0.33020833419001555,-0.24749429772162934]
[null,null,null,null,"EBITDA",null,null,null,4461.9445506693537,5682.4499591598133,3471.3308485760081,1236.6962915470965,-2755.1165165121738,757.56944069954056,472.99699999999996,412.28999999999996,267.7510000000002,153.41345166790427,102.75505135030514,77.323762079011431]
[null,null,null,null,"% Margin",null,null,null,0.26851674261015551,0.27960014065404126,0.18910741301059,0.11180348595683193,-0.38646704829003375,0.20179910044977509,0.16566600960238501,0.15596102960229538,0.12077851896091625,0.12077851896091626,0.12077851896091625,0.12077851896091629]
[null,null,null,null,"Free Cash Flow",null,null,null,1995.6442575622916,3223.1448307989313,1988.6328930625273,1439.015077438303,-2088.8412390237368,1118.3856869984113,586.43261134081183,490.23184878071243,283.91353712534465,123.34150716450588,51.903083583984007,-3.6722382959892648]
[null,null,null,null,"% Margin",null,null,null,0.12009649366191735,0.15859211335192719,0.10833459507009752,0.130094108878401,-0.29300695747487215,0.29791226185652553,0.20539654716951411,0.18544486618563799,0.12806920058918253,9.7103639868451483E-2,6.1007001431074834E-2,-5.735979351443537E-3]
[]
[null,null,null,null,null,"Perpetuity Growth Method",null,null,null,null,null,null,null,"EBITDA Multiple Method"]
[null,null,null,null,null,"Current Price (CAD)",null,null,null,10.15,null,null,null,"Current Price (CAD)",null,null,null,10.15]
[null,null,null,null,null,"Consensus Price Target",null,null,null,9.3031463623046875,null,null,null,"Consensus Price Target",null,null,null,9.3031463623046875]
[null,null,null,null,null,"DCF Estimated Value per Share (CAD)",null,null,null,4.7833368186628977,null,null,null,"DCF Estimated Value per Share (CAD)",null,null,null,5.0205991911293655]
[null,null,null,null,null,"DCF Estimated Upside ",null,null,null,-0.52873528880168497,null,null,null,"DCF Estimated Upside ",null,null,null,-0.50535968560301825]
[]
[null,null,null,null,null,null,null,null,null,"Perpetuity Growth",null,null,null,null,null,null,null,"Terminal EBITDA Multiple"]
[null,null,null,null,null,null,null,9.9999999999999985E-3,1.4999999999999999E-2,0.02,2.5000000000000001E-2,3.0000000000000002E-2,null,null,null,1.02886204256653,2.52886204256653,4.02886204256653,5.52886204256653,7.02886204256653]
[null,null,null,null,null,null,0.11040851584657992,4.8078152102446152,4.8155374443704133,4.8241138274724991,4.8336943707589732,4.8444663977067979,null,null,0.11040851584657992,4.7717207333363136,4.9145015322442109,5.05728233115211,5.2000631300600073,5.3428439289679064]
[null,null,null,null,null,"Discount",0.11540851584657992,4.7886218417155542,4.7954869867672807,4.8030716844701304,4.8114953183762612,4.8209052279274651,null,"Discount",0.11540851584657992,4.7595455151343309,4.8991546857573205,5.0387638563803092,5.1783730270032988,5.3179821976262867]
[null,null,null,null,null,"Rate",0.12040851584657992,4.7704607566642636,4.7765934028971024,4.7833368186628977,4.790787028335501,4.799061298618196,null,"Rate",0.12040851584657992,4.7475557700590683,4.8840774805942164,5.0205991911293655,5.1571209016645136,5.2936426121996618]
[null,null,null,null,null,"(WACC)",0.12540851584657992,4.7532098932174476,4.7587122731071974,4.7647366582491371,4.7713610308613772,4.7786797201762159,null,"(WACC)",0.12540851584657992,4.7357473416691782,4.8692631658886096,5.0027789901080411,5.1362948143274725,5.2698106385469039]
[null,null,null,null,null,null,0.13040851584657992,4.7367671974035934,4.7417239249267507,4.747129596762325,4.753048099254146,4.7595560440300133,null,null,0.13040851584657992,4.7241161927918949,4.8547052010372918,4.9852942092826886,5.1158832175280855,5.2464722257734824]
[null,null,null,null,null,null,null,9.9999999999999985E-3,1.4999999999999999E-2,0.02,2.5000000000000001E-2,3.0000000000000002E-2,null,null,null,1.02886204256653,2.52886204256653,4.02886204256653,5.52886204256653,7.02886204256653]
[null,null,null,null,null,null,0.11040851584657992,-0.52632362460644189,-0.52556281336252086,-0.52471784951009859,-0.52377395361980561,-0.52271267017667022,null,null,0.11040851584657992,-0.52987973070578187,-0.51581265692175271,-0.50174558313772311,-0.48767850935369383,-0.47361143556966445]
[null,null,null,null,null,null,0.11540851584657992,-0.52821459687531491,-0.5275382279047014,-0.52679096704727779,-0.52596105237672308,-0.52503396769187538,null,null,0.11540851584657992,-0.53107925959267677,-0.51732466150174183,-0.50357006341080701,-0.48981546531987208,-0.47606086722893726]
[null,null,null,null,null,null,0.12040851584657992,-0.53000386633849628,-0.52939966473920175,-0.52873528880168497,-0.52800127799650243,-0.52718607895387226,null,null,0.12040851584657992,-0.53226051526511642,-0.51881010043406739,-0.50535968560301825,-0.49190927077196911,-0.47845885594092008]
[null,null,null,null,null,null,0.12540851584657992,-0.53170345879631054,-0.53116135240323181,-0.53056781692126731,-0.52991516937326333,-0.52919411623879653,null,null,0.12540851584657992,-0.53342390722471156,-0.52026963882870847,-0.50711537043270538,-0.49396110203670218,-0.48080683364069909]
[null,null,null,null,null,null,0.13040851584657992,-0.53332342882723216,-0.53283508128800494,-0.53230250278203695,-0.53171939908826149,-0.5310782222630529,null,null,0.13040851584657992,-0.53456983322247342,-0.5217039210800698,-0.50883800893766618,-0.49597209679526255,-0.48310618465285893]
[]
[null,null,null,null,"Input Calculation"]
[]
[null,null,null,null,null,null,null,null,null,null,"Input","Peers","Px Implied","Tgt Implied","Default","Current Choice"]
[]
[null,null,null,null,null,null,"Weighted Average Cost of Capital",null,null,null,null,8.0856747998210882E-2,null,null,0.12040851584657992,0.12040851584657992]
[null,null,null,null,null,null,"Perpetuity Growth Rate",null,null,null,null,null,0.11781733852526542,0.11734664761791529,0.02,0.02," (Perpetuity Growth Method only)"]
[null,null,null,null,null,null,"Exit Enterprise Value / EBITDA",null,null,null,null,6.4502558930279825,60.386940059213259,51.082336040089672,4.02886204256653,4.02886204256653," (EBITDA Multiple Method only)"]
[]
[]
[null,null,null,null,"In Millions of CAD",null,null,null,"Févr 10 A","Févr 11 A","Févr 12 A","Févr 13 A","Févr 14 A","Févr 15 A","Févr 16 E","Févr 17 E","Févr 18 E","Févr 19 E","Févr 20 E","Févr 21 E","Year 5"]
[null,null,null,null,null,null,null,null,"-5FY","-4FY","-3FY","-2FY","-1FY","-0FY","1FY","2FY","3FY","4FY","5FY","6FY"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,2,3,4,5]
[null,null,null,null,"Revenue (Estimate Comparable)",null,null,null,16617.006847678778,20323.487484188721,18356.397527269932,11061.339286188208,7128.9817041387923,3754.077391876624,2855.1240000000003,2643.5450000000001,2216.8760000000002,1270.2047763770693,850.77257308939613,640.21121259181245]
[null,null,null,null,"Revenue (Adjusted)",null,null,null,16617.006847678778,20323.487484188721,18272.093778090228,11061.339286188208,7128.9817041387923,3754.077391876624]
[16,null,null,null,"% YoY Growth",null,null,"Edit Row"," ",0.22305344581522513,-9.6788996398829097E-2,-0.39741230436115349,-0.35550465276474896,-0.47340622438445001,-0.23946053797981148,-7.4105012601904607E-2,-0.16140031662029575,-0.42702939795592115,-0.33020833419001555,-0.24749429772162934,null,null,10,5]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Row # of choice",1,1,1,2,2,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Click on a cell below to select assumption (selected cells are highlighted in blue)"]
[null,1,null,null,null,null,null,"BEst Consensus Revenue ",null,null,null,null,null,null,-0.23946053797981148,-7.4105012601904607E-2,-0.16140031662029575,"","",""]
[null,1,null,null,null,null,null,"5 Year Moving Trend",null,null,null,null,null,null,-0.21935054474245577,-0.41934451970499786,-0.50188108998095027,-0.42702939795592115,-0.33020833419001555,-0.24749429772162934]
[null,1,null,null,null,null,null,"BEst Consensus EPS Long Term Growth",null,null,null,null,null,null,-0.20402000000000001,-0.20402000000000001,-0.20402000000000001,-0.20402000000000001,-0.20402000000000001,-0.20402000000000001]
[]
[null,2,null,null,null,null,null,"Input (%) ",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input"]
[null,2,null,null,">>",null,null,"Input (CAD)",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input",null,null,null,5]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Revenue YoY growth",null,null,null,null,0,0.15,-0.23946053797981148,-7.4105012601904607E-2,-0.16140031662029575,-0.42702939795592115,-0.33020833419001555,-0.24749429772162934]
[null,null,61,null,null,null,null,"Number of analysts estimating Revenue",null,null,null,null,3,null,26,25,7,0,0,0]
[null,null,63,null,null,null,null,"Number of analysts estimating EPS LTG Rate",null,null,null,null,3,null,4,4,4,4,4,4]
[]
[]
[null,null,null,null,"(-) Cost of Revenue",null,null,null,9300.1370402754674,11313.853835323223,11737.065503442422,7535.0566455086837,7066.1989502494152,1922.6279416267685,1562.2953015600001,1448.5569182000002,882.13929792000022,505.43988461596348,338.53942228373251,254.75284571453403]
[null,null,null,null,"(-) Cost of Revenue (GAAP)",null,null,null,9300.1370402754674,11313.853835323223,11750.950826836726,7630.9555501843879,7173.9760110928464,1948.5181305362623]
[null,3,null,null,"% of Revenue",null,null,null,0.55967582643047409,0.55668860199929671,0.63939917873352059,0.68120653842680401,0.99119330691325414,0.51214392803598197,0.54718999999999995,0.54796,0.39792000000000005,0.39792000000000005,0.39792,0.39792000000000005]
[null,null,null,null,"(=) Gross Profit",null,null,null,7316.8698074033091,9009.6336488654979,6535.028274647806,3526.2826406795243,62.782753889377297,1831.4494502498551,1292.8286984400002,1194.9880817999999,1334.73670208,764.76489176110579,512.23315080566363,385.45836687727842]
[13,null,null,null,"% Margin",null,null,"Edit Row",0.4403241735695258,0.44331139800070329,0.35600821266479366,0.31879346157319605,8.8066930867459273E-3,0.48785607196401792,0.45280999999999999,0.45204,0.60207999999999995,0.60207999999999995,0.60207999999999995,0.60207999999999995,null,null,8,4]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,2,2,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Click on a cell below to select assumption (selected cells are highlighted in blue)"]
[null,1,null,null,null,null,null,"BEst Consensus Gross Margin",null,null,null,null,null,null,0.45280999999999999,0.45204,0.60207999999999995,"","",""]
[null,1,null,null,null,null,null,"Last Year's Gross Margin",null,null,null,null,null,null,0.48785607196401792,0.45280999999999999,0.45204,0.60207999999999995,0.60207999999999995,0.60207999999999995]
[]
[null,2,null,null,">>",null,null,"Input (%)",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input",null,null,null,4]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Gross Margin YoY Change",null,null,null,null,-0.05,0.05,-3.5046071964017933E-2,-7.6999999999999291E-4,0.15003999999999995,0,0,0]
[null,null,82,null,null,null,null,"Number of analysts estimating Gross Margin",null,null,null,null,3,null,14,13,3,0,0,0]
[]
[]
[null,null,null,null,"(-) Operating Expenses/Income",null,null,null,3539.0438369528338,4273.5780684590345,4574.2222496093009,4205.5665487990927,4146.800894393371,1855.0883183846104,1542.4466984400001,1505.9690817999999,1703.5437020799998,976.08046058917625,653.77055766260139,491.96607262281782]
[15,null,null,null,"% of Revenue",null,null,"Edit Row",0.21297721481334053,0.21027779173155176,0.24918953965852608,0.38020410006321681,0.58168207837956853,0.49415292353823081,0.54023807667898138,0.56967786884656768,0.76844338703653237,0.76844338703653237,0.76844338703653237,0.76844338703653237,null,null,8,6]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,2,2,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Click on a cell below to select assumption (selected cells are highlighted in blue)"]
[null,1,null,null,null,null,null,"BEst Consensus Implied Operating Expense as a % of Revenue",null,null,null,null,null,null,0.54023807667898138,0.56967786884656768,0.76844338703653237,"","",""]
[null,1,null,null,null,null,null,"Last Year's Operating Expense as a % of Revenue",null,null,null,null,null,null,0.49415292353823081,0.54023807667898138,0.56967786884656768,0.76844338703653237,0.76844338703653237,0.76844338703653237]
[]
[null,2,null,null,">>",null,null,"Input (%)",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input",null,null,null,6]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Operating Expenses/Income as a % of Revenue change",null,null,null,null,-0.05,0.05,4.6085153140750568E-2,2.9439792167586298E-2,0.19876551818996469,0,0,0]
[null,null,97,null,null,null,null,"Number of analysts estimating Revenue",null,null,null,null,3,null,26,25,7,0,0,0]
[null,null,97,null,null,null,null,"Number of analysts estimating Gross Margin",null,null,null,null,3,null,14,13,3,0,0,0]
[null,null,97,null,null,null,null,"Number of analysts estimating Operating Profit",null,null,null,null,3,null,16,15,5,0,0,0]
[]
[]
[null,3,null,null,"% YoY Growth",null,null,null,null,0.20755160584239762,7.0349523592223129E-2,-8.0594182069246068E-2,-1.3973302698658374E-2,-0.55264591533855434,-0.16853193287145218,-2.3649191039724737E-2,0.13119434035382049,-0.42702939795592121,-0.33020833419001538,-0.24749429772162945]
[null,null,null,null,"(=) Operating Income",null,null,null,3777.8259704504753,4736.0555804064634,1960.8060250385051,-679.28390811956842,-4084.0181405039934,-23.638868134755349,-249.61799999999994,-310.98099999999999,-368.80699999999979,-211.31556882807047,-141.53740685693776,-106.5077057455394]
[null,3,null,null,"% Margin",null,null,null,0.22734695875618527,0.23303360626915154,0.10681867300626756,-6.1410638490020771E-2,-0.57287538529282256,-6.2968515742128925E-3,-8.7428076678981337E-2,-0.11763786884656777,-0.16636338703653239,-0.16636338703653242,-0.16636338703653242,-0.16636338703653236]
[null,null,null,null,"(-) Tax on Operating Income",null,null,null,1107.1758750022952,1257.7061884955851,377.7669053947493,0,0,0,-22.875933783207621,-17.682551028644895,-10.953886391897337,-7.5315058568254321,-6.0534478246809131,-5.4663048078203804]
[12,null,null,null,"% Tax Rate",null,null,"Edit Row",0.29307222822396806,0.26555984555984558,0.19265898848272406,0,0,0,9.1643766808513924E-2,5.6860551058247596E-2,2.9700863573352304E-2,3.5641036288022766E-2,4.276924354562732E-2,5.1323092254752775E-2,null,null,8,3]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,1,1,1]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Click on a cell below to select assumption (selected cells are highlighted in blue)"]
[null,1,null,null,null,null,null,"5 Year Rolling Average Effective Tax Rate",null,null,null,null,null,null,9.1643766808513924E-2,5.6860551058247596E-2,2.9700863573352304E-2,3.5641036288022766E-2,4.276924354562732E-2,5.1323092254752775E-2]
[null,1,null,null,null,null,null,"Last Year's Effective Tax Rate",null,null,null,null,null,null,0,9.1643766808513924E-2,5.6860551058247596E-2,2.9700863573352304E-2,3.5641036288022766E-2,4.276924354562732E-2]
[]
[null,2,null,null,">>",null,null,"Input (%)",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input",null,null,null,3]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Estimated Tax on Operating Income",null,null,null,null,0,0.5,9.1643766808513924E-2,5.6860551058247596E-2,2.9700863573352304E-2,3.5641036288022766E-2,4.276924354562732E-2,5.1323092254752775E-2]
[]
[]
[null,null,null,null,"(=) NOPAT",null,null,null,2670.6500954481799,3478.3493919108782,1583.0391196437558,-679.28390811956842,-4084.0181405039934,-23.638868134755349,-226.74206621679232,-293.29844897135513,-357.85311360810243,-203.78406297124505,-135.48395903225685,-101.04140093771902]
[null,3,null,null,"% Margin",null,null,null,0.16071787897356749,0.17114923777806179,8.6239095513813188E-2,-6.1410638490020771E-2,-0.57287538529282256,-6.2968515742128925E-3,-7.9415838407295908E-2,-0.11094891479863407,-0.16142225077455952,-0.16043402352216499,-0.1592481508192915,-0.15782510357584328]
[null,null,null,null,"(+) Depreciation & Amortization",null,null,null,684.11858021887826,946.39437875335022,1510.5248235375032,1915.9801996666649,1328.9016239918194,781.20830883429596,722.6149999999999,723.27099999999996,636.55799999999999,364.72902049597474,244.2924582072429,183.83146782455083]
[15,null,null,null,"% of Revenue",null,null,"Edit Row",4.1169783853970215E-2,4.6566534384889731E-2,8.2288740004322458E-2,0.17321412444685269,0.18640833700278878,0.20809595202398801,0.25309408628136637,0.27359889844886315,0.28714190599744865,0.28714190599744865,0.28714190599744865,0.28714190599744865,null,null,8,6]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,2,2,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Click on a cell below to select assumption (selected cells are highlighted in blue)"]
[null,1,null,null,null,null,null,"BEst Consensus Implied Depreciation & Amortization as a % of Revenue",null,null,null,null,null,null,0.25309408628136637,0.27359889844886315,0.28714190599744865,"","",""]
[null,1,null,null,null,null,null,"Last Year's Depreciation & Amortization as a % of Revenue",null,null,null,null,null,null,0.20809595202398801,0.25309408628136637,0.27359889844886315,0.28714190599744865,0.28714190599744865,0.28714190599744865]
[]
[null,2,null,null,">>",null,null,"Input (%)",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input",null,null,null,6]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Depr & Amort as a % of Revenue change",null,null,null,null,-0.05,0.05,4.4998134257378364E-2,2.0504812167496778E-2,1.3543007548585506E-2,0,0,0]
[null,null,133,null,null,null,null,"Number of analysts estimating Revenue",null,null,null,null,3,null,26,25,7,0,0,0]
[null,null,133,null,null,null,null,"Number of analysts estimating Operating Profit",null,null,null,null,3,null,16,15,5,0,0,0]
[null,null,133,null,null,null,null,"Number of analysts estimating EBITDA",null,null,null,null,3,null,13,12,4,0,0,0]
[]
[]
[null,3,null,null,"% YoY Growth",null,null,null,null,0.38337768643932879,0.59608389213729351,0.26842020058937166,-0.30641160893885189,-0.41213984938353498,-7.5003437843266019E-2,9.0781398116579481E-4,-0.11989005504160954,-0.42702939795592121,-0.3302083341900155,-0.24749429772162934]
[null,null,null,null,"(-) Capital Expenditure",null,null,null,1121.7295069047666,1060.7376046652976,894.6115501187312,417.55981410879355,296.12532251156284,97.932453701129319,77.807000000000002,130.47300000000001,191.809,158.82935524253844,131.37016178873355,138.0577034062544]
[15,null,null,null,"% of Revenue",null,null,"Edit Row",6.7504907302933473E-2,5.2192696036570042E-2,4.8735681867300623E-2,3.7749480718865712E-2,4.1538235725818273E-2,2.6086956521739129E-2,2.7251706055498814E-2,4.935531644061289E-2,8.6522205121080289E-2,0.1250423224635937,0.15441278426700017,0.21564399481125238,null,null,9,5]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,2,2,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Click on a cell below to select assumption (selected cells are highlighted in blue)"]
[null,1,null,null,null,null,null,"BEst Consensus Capital Expenditure",null,null,null,null,null,null,77.807000000000002,130.47300000000001,191.809,"","",""]
[null,1,null,null,null,null,null,"5 Year Rolling Average",null,null,null,null,null,null,553.39334902110295,356.80722808804342,203.97951806429714,158.82935524253844,131.37016178873355,138.0577034062544]
[null,1,null,null,null,null,null,"Last Year's Capital Expenditure",null,null,null,null,null,null,97.932453701129319,77.807000000000002,130.47300000000001,191.809,158.82935524253844,131.37016178873355]
[]
[null,2,null,null,">>",null,null,"Input (CAD)",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input",null,null,null,5]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Capex as a % of Revenue YoY change",null,null,null,null,-0.05,0.05,1.1647495337596854E-3,2.2103610385114075E-2,3.71668886804674E-2,3.8520117342513413E-2,2.9370461803406467E-2,6.1231210544252207E-2]
[null,null,151,null,null,null,null,"The ratio Capex / Depr & Amort",null,null,null,null,0.8,1.25,0.10767421102523475,0.18039296473935776,0.30132211047540053,0.43547221722734109,0.53775774640282625,0.75100147455721233,null,null,null,null,null,null,null,null,{"$f":"IF(ISNUMBER(AC$82),AC$82,IF(ISNUMBER(AC$83),AC$83,\"NA\"))","v":"NA"},"NA","NA","NA","NA","NA"]
[null,null,151,null,null,null,null,"Number of analysts estimating Capex",null,null,null,null,3,null,6,6,2,0,0,0]
[]
[]
[null,3,null,null,"% YoY Growth",null,null,null,null,-5.4373092500496378E-2,-0.15661371277488112,-0.53325014185947439,-0.29081939280103097,-0.66928713535700635,-0.20550341526771365,0.67687997223900176,0.47010492592337094,-0.1719400276184202,-0.17288487642522798,5.0906092574321438E-2]
[null,null,null,null,"(-) Changes in Net Working Capital",null,null,null,275.65240259999985,262.37787800000001,169.0335,-597.3261,-1178.9283,-434.06229999999999,-178.66119640364724,-205.33148366456484,-210.71188766372381,-131.15953252830832,-77.280816892999439,-54.980321033703369]
[11,null,null,null,"% of Revenue",null,null,"Edit Row",1.6588571282830374E-2,1.2910081412165353E-2,9.2084244606757334E-3,-5.4001245648965308E-2,-0.16537120572431305,-0.11562422792328658,-6.2575634684744766E-2,-7.7672777904126786E-2,-9.5049018377087305E-2,-0.10325857292271171,-9.0836046362391426E-2,-8.5878410050212392E-2,null,null,7,3]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,1,1,1]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Click on a cell below to select assumption (selected cells are highlighted in blue)"]
[null,1,null,null,null,null,null,"5 Year Rolling Average ",null,null,null,null,null,null,-6.2575634684744766E-2,-7.7672777904126786E-2,-9.5049018377087305E-2,-0.10325857292271171,-9.0836046362391426E-2,-8.5878410050212392E-2]
[]
[null,2,null,null,"<<",null,null,"Input (%)",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input",null,null,null,3]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Change in NWC as a % of Revenue YoY change",null,null,null,null,-0.05,0.05,5.3048593238541816E-2,-1.509714321938202E-2,-1.7376240472960519E-2,-8.2095545456244007E-3,1.2422526560320279E-2,4.957636312179034E-3,null,null,null,null,null,null,null,null,{"$f":"IF(ISNUMBER(AC$82),AC$82,IF(ISNUMBER(AC$83),AC$83,\"NA\"))","v":"NA"},"NA","NA","NA","NA","NA"]
[]
[]
[null,null,null,null,"(+) Changes in Net Long Term Deferred Tax Liabilities",null,null,null,38.257491399999992,121.5165428,-41.285999999999973,22.552499999999981,-216.52770000000001,24.686399999999999,-10.2945188460429,-14.599185912497189,-13.694236930276691,-9.9336276459936848,-2.816070695267932,-3.3849228102700386]
[11,null,null,null,"% of Revenue",null,null,"Edit Row",2.3023094201435057E-3,5.9791186377110474E-3,-2.2491341200617516E-3,2.0388579914694654E-3,-3.0372879183333149E-2,6.57589000520299E-3,-3.6056293338022792E-3,-5.5225789281049455E-3,-6.1772678897135834E-3,-7.8204930659501928E-3,-3.3100158424736021E-3,-5.2871970120089203E-3,null,null,7,3]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,1,1,1]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Click on a cell below to select assumption (selected cells are highlighted in blue)"]
[null,1,null,null,null,null,null,"5 Year Rolling Average ",null,null,null,null,null,null,-3.6056293338022792E-3,-5.5225789281049455E-3,-6.1772678897135834E-3,-7.8204930659501928E-3,-3.3100158424736021E-3,-5.2871970120089203E-3]
[]
[null,2,null,null,">>",null,null,"Input (%)",null,null,null,null,null,null,"Input","Input","Input","Input","Input","Input",null,null,null,3]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Change in Net LT Def Tax Liab as a % of Revenue YoY chg",null,null,null,null,-0.05,0.05,-1.0181519339005268E-2,-1.9169495943026664E-3,-6.5468896160863783E-4,-1.6432251762366094E-3,4.5104772234765902E-3,-1.9771811695353182E-3]
[]
[]
[null,null,null,null,"(+) Other User Estimated Non-Cash Adjustments",null,null,null,null,null,null,null,null,null,0,0,0,0,0,0]
[5,null,null,null,"% of Revenue",null,null,"Edit Row",null,null,null,null,null,null,0,0,0,0,0,0]
[]
[]
[null,null,null,null,null,null,null,"Input (CAD)",null,null,null,null,null,null,0,0,0,0,0,0]
[]
[]
[null,null,null,null,"(=) Free Cash Flow",null,null,null,1995.6442575622916,3223.1448307989313,1988.6328930625273,1439.015077438303,-2088.8412390237368,1118.3856869984113,586.43261134081183,490.23184878071243,283.91353712534465,123.34150716450588,51.903083583984007,-3.6722382959892648,11.81596616236394]
[6,null,null,null,"% Margin",null,null,"Edit Row",0.12009649366191735,0.15859211335192719,0.10833459507009752,0.130094108878401,-0.29300695747487215,0.29791226185652553,0.20539654716951411,0.18544486618563799,0.12806920058918253,9.7103639868451483E-2,6.1007001431074834E-2,-5.735979351443537E-3]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"Free Cash Flow Margin YoY Change",null,null,null,null,-0.05,0.05,-9.2515714687011419E-2,-1.9951680983876119E-2,-5.7375665596455461E-2,-3.0965560720731047E-2,-3.6096638437376649E-2,-6.6742980782518377E-2]
[]
[]
[null,3,null,null,"% YoY Growth",null,null,null,null,0.61508987315006203,-0.38301472708888529,-0.2763797267668664,-2.4515770347189392,-1.5354096166356386,-0.47564367269871466,-0.1640440192098922,-0.42085864508500515,-0.56556665661894101,-0.57919207591035327,-1.0707518328857522]
[]
[null,null,null,null,"% of the Free Cash Flow to be discounted",null,null,null,null,null,null,null,null,null,0.27868852459016391,1,1,1,1,0.72131147540983609]
[null,null,null,null,"Period for Discount Factor (Mid-Year Convention)",null,null,null,null,null,null,null,null,null,0.13934426229508196,0.77868852459016402,1.778688524590164,2.778688524590164,3.778688524590164,4.639344262295082]
[null,null,null,null,"Discount Factor @ 12.0% WACC",null,null,null,null,null,null,null,null,null,0.98428231451238912,0.91527407895207091,0.81691103379421415,0.7291189081840892,0.65076166226134713,0.590100356364609]
[null,null,null,null,"Present Value of Free Cash Flow (5 Years)",null,null,null,null,null,null,null,null,null,160.86326583497271,448.6965038657375,231.93210112123728,89.930625037564539,33.77653694960307,-1.5630741244793001]
[null,null,null,null,"EBITDA",null,null,null,4461.9445506693537,5682.4499591598133,3471.3308485760081,1236.6962915470965,-2755.1165165121738,757.56944069954056,472.99699999999996,412.28999999999996,267.7510000000002,153.41345166790427,102.75505135030514,77.323762079011431,84.41117056445394]
[7,null,null,null,"% Margin",null,null,"Edit Row",0.26851674261015551,0.27960014065404126,0.18910741301059,0.11180348595683193,-0.38646704829003375,0.20179910044977509,0.16566600960238501,0.15596102960229538,0.12077851896091625,0.12077851896091626,0.12077851896091625,0.12077851896091629]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Highlight estimates if…","Less than","Greater than"]
[null,null,null,null,null,null,null,"EBITDA Margin YoY Change",null,null,null,null,-0.05,0.05,-3.6133090847390081E-2,-9.7049800000896247E-3,-3.5182510641379131E-2,0,0,0]
[]
[]
[null,3,null,null,"% YoY Growth",null,null,null,null,0.27353665977479857,-0.38911369681656349,-0.64374001053388274,-3.2278036534463497,-1.2749682041246597,-0.37563875390322776,-0.128345422909659,-0.35057605083800181,-0.42702939795592121,-0.3302083341900155,-0.24749429772162912]
[]
[null,null,null,null,"Output Analysis"]
[]
[null,null,null,null,"Perpetuity Growth Method - Value per Share",null,null,null,null,null,null,null,null,"EBITDA Multiple Method - Value per Share"]
[null,null,null,null,null,"Free Cash Flow at Year 5",null,null,null,null,11.81596616236394,null,null,null,"Terminal EBITDA at Year 5",null,null,null,null,84.41117056445394,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"BF"]
[null,null,null,null,null,"WACC",null,null,null,null,0.12040851584657992,null,null,null,"WACC",null,null,null,null,0.12040851584657992]
[null,null,null,null,null,"Perpetuity Growth Rate",null,null,null,null,0.02,null,null,null,"Exit Enterprise Value / EBITDA",null,null,null,null,4.02886204256653]
[null,null,null,null,null,"Perpetuity Value at End of Year 5",null,null,null,null,120.03250306006531,null,null,null,"Terminal Value at End of Year 5",null,null,null,null,340.08096105573765]
[]
[null,null,null,null,null,"Present Value of Perpetuity  (@ 12.0% WACC)",null,null,null,null,67.985587859214604,null,null,null,"Present Value of Terminal Value  (@ 12.0% WACC)",null,null,null,null,192.61952777516638]
[null,null,null,null,null,"(+) Present Value of Free Cash Flows  (@ 12.0% WACC)",null,null,null,null,963.63595868463585,null,null,null,"(+) Present Value of Free Cash Flows  (@ 12.0% WACC)",null,null,null,null,963.63595868463585]
[null,null,null,null,null,"(=) Current Enterprise Value",null,null,null,1031.6215465438504,null,null,null,null,"(=) Current Enterprise Value",null,null,null,1156.2554864598023]
[]
[null,null,null,null,null,"Short Term Debt",null,null,null,null,0,null,null,null,"Short Term Debt",null,null,null,null,0]
[null,null,null,null,null,"(+) Long Term Debt",null,null,null,null,2135.2862999999998,null,null,null,"(+) Long Term Debt",null,null,null,null,2135.2862999999998]
[null,null,null,null,null,"(-) Cash and Marketable Securities",null,null,null,null,3616.3518999999997,null,null,null,"(-) Cash and Marketable Securities",null,null,null,null,3616.3518999999997]
[null,null,null,null,null,"(-) Current Net Debt",null,null,null,null,-1481.0655999999999,null,null,null,"(-) Current Net Debt",null,null,null,null,-1481.0655999999999]
[null,null,null,null,null,"(-) Current Preferred and Minority Interest",null,null,null,null,0,null,null,null,"(-) Current Preferred and Minority Interest",null,null,null,null,0]
[null,null,null,null,null,"(=) Equity Value",null,null,null,null,2512.6871465438503,null,null,null,"(=) Equity Value",null,null,null,null,2637.3210864598022]
[]
[null,null,null,null,null,"Shares outstanding",null,null,null,null,525.30006600000002,null,null,null,"Shares outstanding",null,null,null,null,525.30006600000002]
[null,null,null,null,null,"Estimated Value per Share (CAD)",null,null,null,4.7833368186628977,null,null,null,null,"Estimated Value per Share (CAD)",null,null,null,5.0205991911293655]
[null,null,null,null,null,"Current Price (CAD)",null,null,null,null,10.15,null,null,null,"Current Price (CAD)",null,null,null,null,10.15]
[null,null,null,null,null,"Estimated Upside ",null,null,null,-0.52873528880168497,null,null,null,null,"Estimated Upside ",null,null,null,-0.50535968560301825]
[]
[]
[null,null,null,null,"Perpetuity Growth Method - Sensitivity Analysis",null,null,null,null,null,null,null,null,"EBITDA Multiple Method - Sensitivity Analysis"]
[]
[null,null,null,null,null,null,null,null,null,"Enterprise Value in Millions of CAD",null,null,null,null,null,null,null,null,"Enterprise Value in Millions of CAD"]
[null,null,null,null,null,"Incremental change",null,null,null,"Perpetuity Growth",null,null,null,"Incremental change",null,null,null,null,"Terminal EBITDA Multiple"]
[null,null,null,null,null,5.0000000000000001E-3,null,null,null,null,null,null,null,1.5,5.0000000000000001E-3]
[null,null,null,null,null,null,null,9.9999999999999985E-3,1.4999999999999999E-2,0.02,2.5000000000000001E-2,3.0000000000000002E-2,null,null,null,null,1.02886204256653,2.52886204256653,4.02886204256653,5.52886204256653,7.02886204256653]
[null,null,null,null,null,null,0.11040851584657992,1044.4800472573006,1048.5365373532497,1053.0417119628164,1058.074371983517,1063.7329184501634,null,null,null,0.11040851584657992,1025.5196161551337,1100.5223792449854,1175.525142334837,1250.5279054246887,1325.5306685145404]
[null,null,null,null,"Discount",null,0.11540851584657992,1034.3977695022224,1038.0040306509936,1041.9882728548912,1046.4132083017414,1051.3562344100426,null,"Discount",null,0.11540851584657992,1019.1239732300683,1092.4606797725298,1165.7973863149912,1239.1340928574525,1312.4707993999139]
[null,null,null,null,"Rate",null,0.12040851584657992,1024.8577503261477,1028.0792297970129,1031.6215465438504,1035.5351421765829,1039.8816169021843,null,"Rate",null,0.12040851584657992,1012.8257593507095,1084.5406229052558,1156.2554864598021,1227.9703500143485,1299.6852135688948]
[null,null,null,null,"(WACC)",null,0.12540851584657992,1015.7958706189783,1018.6862711382208,1021.8508810508914,1025.3306644213098,1029.175172401428,null,"(WACC)",null,0.12540851584657992,1006.6227911381437,1076.7586624126557,1146.8945336871675,1217.0304049616793,1287.1662762361912]
[null,null,null,null,null,null,0.13040851584657992,1007.1585214227429,1009.7622907178016,1012.6018904898028,1015.7108802393778,1019.1295040596652,null,null,null,0.13040851584657992,1000.512947865251,1069.1113625154326,1137.7097771656142,1206.3081918157959,1274.9066064659773]
[]
[null,null,null,null,null,null,null,null,null,"Value in CAD",null,null,null,null,null,null,null,null,"Value in CAD"]
[null,null,null,null,null,null,null,9.9999999999999985E-3,1.4999999999999999E-2,0.02,2.5000000000000001E-2,3.0000000000000002E-2,null,null,null,null,1.02886204256653,2.52886204256653,4.02886204256653,5.52886204256653,7.02886204256653]
[null,null,null,null,null,null,0.11040851584657992,4.8078152102446152,4.8155374443704133,4.8241138274724991,4.8336943707589732,4.8444663977067979,null,null,null,0.11040851584657992,4.7717207333363136,4.9145015322442109,5.05728233115211,5.2000631300600073,5.3428439289679064]
[null,null,null,null,null,null,0.11540851584657992,4.7886218417155542,4.7954869867672807,4.8030716844701304,4.8114953183762612,4.8209052279274651,null,null,null,0.11540851584657992,4.7595455151343309,4.8991546857573205,5.0387638563803092,5.1783730270032988,5.3179821976262867]
[null,null,null,null,null,null,0.12040851584657992,4.7704607566642636,4.7765934028971024,4.7833368186628977,4.790787028335501,4.799061298618196,null,null,null,0.12040851584657992,4.7475557700590683,4.8840774805942164,5.0205991911293655,5.1571209016645136,5.2936426121996618]
[null,null,null,null,null,null,0.12540851584657992,4.7532098932174476,4.7587122731071974,4.7647366582491371,4.7713610308613772,4.7786797201762159,null,null,null,0.12540851584657992,4.7357473416691782,4.8692631658886096,5.0027789901080411,5.1362948143274725,5.2698106385469039]
[null,null,null,null,null,null,0.13040851584657992,4.7367671974035934,4.7417239249267507,4.747129596762325,4.753048099254146,4.7595560440300133,null,null,null,0.13040851584657992,4.7241161927918949,4.8547052010372918,4.9852942092826886,5.1158832175280855,5.2464722257734824]
[]
[null,null,null,null,null,null,null,null,null,"Upside Potential",null,null,null,null,null,null,null,null,"Upside Potential"]
[null,null,null,null,null,null,null,9.9999999999999985E-3,1.4999999999999999E-2,0.02,2.5000000000000001E-2,3.0000000000000002E-2,null,null,null,null,1.02886204256653,2.52886204256653,4.02886204256653,5.52886204256653,7.02886204256653]
[null,null,null,null,null,null,0.11040851584657992,-0.52632362460644189,-0.52556281336252086,-0.52471784951009859,-0.52377395361980561,-0.52271267017667022,null,null,null,0.11040851584657992,-0.52987973070578187,-0.51581265692175271,-0.50174558313772311,-0.48767850935369383,-0.47361143556966445]
[null,null,null,null,null,null,0.11540851584657992,-0.52821459687531491,-0.5275382279047014,-0.52679096704727779,-0.52596105237672308,-0.52503396769187538,null,null,null,0.11540851584657992,-0.53107925959267677,-0.51732466150174183,-0.50357006341080701,-0.48981546531987208,-0.47606086722893726]
[null,null,null,null,null,null,0.12040851584657992,-0.53000386633849628,-0.52939966473920175,-0.52873528880168497,-0.52800127799650243,-0.52718607895387226,null,null,null,0.12040851584657992,-0.53226051526511642,-0.51881010043406739,-0.50535968560301825,-0.49190927077196911,-0.47845885594092008]
[null,null,null,null,null,null,0.12540851584657992,-0.53170345879631054,-0.53116135240323181,-0.53056781692126731,-0.52991516937326333,-0.52919411623879653,null,null,null,0.12540851584657992,-0.53342390722471156,-0.52026963882870847,-0.50711537043270538,-0.49396110203670218,-0.48080683364069909]
[null,null,null,null,null,null,0.13040851584657992,-0.53332342882723216,-0.53283508128800494,-0.53230250278203695,-0.53171939908826149,-0.5310782222630529,null,null,null,0.13040851584657992,-0.53456983322247342,-0.5217039210800698,-0.50883800893766618,-0.49597209679526255,-0.48310618465285893]
[]
[null,null,null,null,null,null,null,null,null,"Implied Exit EV / EBITDA Multiple",null,null,null,null,null,null,null,null,"Implied Perpetuity Growth"]
[null,null,null,null,null,null,null,9.9999999999999985E-3,1.4999999999999999E-2,0.02,2.5000000000000001E-2,3.0000000000000002E-2,null,null,null,null,1.02886204256653,2.52886204256653,4.02886204256653,5.52886204256653,7.02886204256653]
[null,null,null,null,null,null,0.11040851584657992,1.4080566946246005,1.489183507734599,1.5792836805276247,1.6799331728937561,1.7930999330276665,null,null,null,0.11040851584657992,-2.2574407761553061E-2,5.2167484823871631E-2,7.312330976828986E-2,8.2989133885317035E-2,8.8726331963637592E-2]
[null,null,null,null,null,null,0.11540851584657992,1.3412662326151552,1.4150272723207618,1.4965193870830455,1.5870252671968779,1.6881279688590916,null,null,null,0.11540851584657992,-1.8173209561567837E-2,5.6905234353924972E-2,7.7955420178349791E-2,8.7865668594975868E-2,9.3628700400237658E-2]
[null,null,null,null,null,null,0.12040851584657992,1.2805251646671476,1.3479061644597845,1.4219978500169232,1.5038552664314917,1.5947668538661308,null,null,null,0.12040851584657992,-1.3772011361582594E-2,6.1642983883978313E-2,8.2787530588409722E-2,9.2742203304634702E-2,9.853106883683771E-2]
[null,null,null,null,null,null,0.12540851584657992,1.2250472324160548,1.2868643981555989,1.3545460963044142,1.4289684277130845,1.5111911457799383,null,null,null,0.12540851584657992,-9.3708131615973887E-3,6.638073341403164E-2,8.7619640998469625E-2,9.7618738014293521E-2,0.10343343727343775]
[null,null,null,null,null,null,0.13040851584657992,1.1741767759619213,1.23111182267554,1.2932036316440503,1.3611860281490435,1.4359390054092462,null,null,null,0.13040851584657992,-4.9696149616121465E-3,7.1118482944084974E-2,9.245175140852957E-2,0.10249527272395234,0.10833580571003783]

{"sheet":"Sheet1","index":1,"n_rows":64,"n_cols":103,"rows_kept":64,"cut":false,"hidden":true,"merged":[[32,16,32,23],[34,14,47,14]]}
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,1,{"$f":"C25+1","v":2},{"$f":"D25+1","v":3},4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40,41,42,43,44,45,46,47,48,49,50,51,52,53,54,55,56,57,58,59,60,61,62,63,64,65,66,{"$f":"BP25+1","v":67},68,69,70,71,72,73,74,75,76,77,78,79,80,81,82,83,84,85,86,87,88,89,90,91,92,93,94,95,96,97,98,99,100,{"$f":"CX25+1","v":101}]
[null,null,1,{"$f":"C26*(1+C27)","v":1.05},{"$f":"D26*(1+D27)","v":1.0996363636363637},1.1486201652892563,1.1966533722013524,1.2434316403874053,1.2886473364014928,1.3319927468077248,1.3731634317090546,1.4118616738754006,1.4477999710285925,1.4807045158246968,1.5103186061411906,1.5405249782640145,1.5713354778292947,1.6027621873858806,1.6348174311335983,1.6675137797562702,1.7008640553513956,1.7348813364584235,1.769578963187592,1.8049705424513438,1.8410699533003707,1.8778913523663781,1.9154491794137056,1.9537581630019798,1.9928333262620195,2.0326899927872599,2.0733437926430049,2.1148106684958652,2.1571068818657824,2.2002490195030981,2.2442539998931603,2.2891390798910236,2.3349218614888443,2.3816202987186212,2.4292527046929937,2.4778377587868534,2.5273945139625904,2.5779424042418424,2.6295012523266794,2.6820912773732131,2.7357331029206775,2.7904477649790911,2.846256720278673,2.9031818546842465,2.9612454917779316,3.0204704016134905,3.0808798096457601,3.1424974058386752,3.2053473539554487,3.2694543010345578,3.334843387055249,3.401540254796354,3.4695710598922811,3.5389624810901266,3.6097417307119293,3.681936565326168,3.7555752966326912,3.8306868025653449,3.9073005386166519,3.985446549388985,4.0651554803767649,4.1464585899843005,4.229387761783987,4.3139755170196672,{"$f":"BP26*(1+BP27)","v":4.4002550273600605},4.488260127907262,4.5780253304654073,4.6695858370747159,4.76297755381621,4.8582371048925346,4.9554018469903856,5.0545098839301934,5.1556000816087977,5.2587120832409742,5.3638863249057938,5.4711640514039095,5.5805873324319881,5.6921990790806278,5.8060430606622404,5.9221639218754856,6.0406072003129951,6.1614193443192553,6.2846477312056406,6.4103406858297536,6.5385474995463486,6.6693184495372755,6.8027048185280208,6.9387589148985809,7.0775340931965527,7.2190847750604838,7.3634664705616935,7.5107357999729274,7.6609505159723863,7.8141695262918338,7.9704529168176705,8.1298619751540233,8.2924592146571037,8.4583083989502459,{"$f":"CX26*(1+CX27)","v":8.6274745669292514}]
[null,null,0.05,{"$f":"C27-($C$27-$N$27)/11","v":4.7272727272727272E-2},{"$f":"D27-($C$27-$N$27)/11","v":4.4545454545454541E-2},4.181818181818181E-2,3.9090909090909079E-2,3.6363636363636348E-2,3.3636363636363617E-2,3.090909090909089E-2,2.8181818181818162E-2,2.5454545454545435E-2,2.2727272727272707E-2,0.02,{"$f":"N27","v":0.02},{"$f":"O27","v":0.02},0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,{"$f":"CA27","v":0.02},0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[null,{"$f":"NPV(B29,C26:CL26)","v":35.842082194929368}]
["Discount rate",0.05,1,{"$f":"C29*(1+C30)","v":1.026},{"$f":"D29*(1+D30)","v":1.0526759999999999},1.0800455760000001,1.1081267609760002,1.1369380567613763,1.1664984462371721,1.1968274058393387,1.2279449183911615,1.2598714862693317,1.2926281449123342,1.326236476680055,1.3607186250737364,1.3960973093256537,1.4323958393681206,1.4696381311916917,1.5078487226026758,1.5470527893903454,1.5872761619144944,1.6285453421242713,1.6708875210195024,1.7143305965660096,1.758903192076726,1.804634675070721,1.8515551766225598,1.8996956112147463,1.9490876971063298,1.9997639772310944,2.051757840639103,2.1051035444957198,2.1598362366526085,2.2159919788055764,2.2736077702545217,2.3327215722811392,2.3933723331604488,2.4556000138226204,2.5194456141820085,2.5849512001507406,2.6521599313546598,2.7211160895698812,2.791865107898698,2.8644536007040644,2.9389293943223702,3.0153415585747521,3.0937404390976955,3.1741776905142358,3.2567063104676062,3.3413806745397641,3.4282565720777982,3.5173912429518213,3.6088434152685687,3.7026733440655515,3.798942851011256,3.8977153651375489,3.9990559646311254,4.1030314197115345,4.2097102366240344,4.3191627027762598,4.4314609330484425,4.5466789173077018,4.6648925691577023,4.7861797759558025,4.9106204501306534,5.0382965818340502,5.1692922929617353,5.3036938925787407,{"$f":"BP29*(1+BP30)","v":5.4415899337857878},5.5830712720642186,5.7282311251378886,5.8771651343914737,6.029971427885652,6.1867506850106793,6.3476062028209572,6.5126439640943019,6.681972707160754,6.855703997546934,7.0339523014831542,7.2168350613217163,7.4044727729160806,7.5969890650118987,7.7945107807022085,7.9971680610004663,8.2050944305864792,8.4184268857817273,8.6373059848120519,8.8618759404171659,9.092284714868013,9.328684117454582,9.5712299045084013,9.8200818820256206,10.075404010958287,10.337364515243204,10.606135992639528,10.881895528448156,11.164824812187808,11.455110257304691,11.752943123994614,12.058519645218475,12.372041155994156,12.693714226050004,13.023750795927304]
[null,null,2.5999999999999999E-2,{"$f":"C30","v":2.5999999999999999E-2},{"$f":"D30","v":2.5999999999999999E-2},2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,{"$f":"BP30","v":2.5999999999999999E-2},2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,2.5999999999999999E-2,{"$f":"CX30","v":2.5999999999999999E-2}]
[null,{"$f":"NPV(B29,C29:CL29)","v":36.220408948510673}]
[]
[null,null,{"$f":"1/(B29-C30)","v":41.666666666666657},null,null,null,null,null,null,null,null,null,null,null,null,null,"Discount rate"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.12,0.11,0.1,0.09,0.08,7.0000000000000007E-2,0.06,0.05]
[null,"dr","start growth","perp",null,"start growth","perp",null,"start growth","perp",null,"start growth","perp",null,"Start growth",0.15,6.2E-2,{"$f":"Q35-($Q35-$T35)/3","v":5.8999999999999997E-2},{"$f":"R35-($Q35-$T35)/3","v":5.5999999999999994E-2},5.2999999999999999E-2,{"$f":"T35-($T35-$X35)/4","v":0.05},{"$f":"U35-($T35-$X35)/4","v":4.7E-2},{"$f":"V35-($T35-$X35)/4","v":4.3999999999999997E-2},4.1000000000000002E-2]
[null,0.12,0.15,6.2E-2,null,0.1,4.8000000000000001E-2,null,0.05,3.2000000000000001E-2,null,0.02,0.02,null,null,0.14000000000000001,{"$f":"Q35-(Q$35-Q$40)/5","v":5.9200000000000003E-2},{"$f":"R35-(R$35-R$40)/5","v":5.6399999999999999E-2},5.3599999999999995E-2,5.0799999999999998E-2,4.8000000000000001E-2,4.5199999999999997E-2,4.24E-2,3.9600000000000003E-2]
[null,0.11,0.15,{"$f":"D36-(D$36-D$39)/3","v":5.8999999999999997E-2},null,{"$f":"F36","v":0.1},{"$f":"G36-(G$36-G$39)/3","v":4.5999999999999999E-2},null,{"$f":"I36","v":0.05},{"$f":"J36-(J$36-J$39)/3","v":3.1E-2},null,{"$f":"L36","v":0.02},0.02,null,null,0.13,{"$f":"Q36-(Q$35-Q$40)/5","v":5.6400000000000006E-2},5.3800000000000001E-2,5.1199999999999996E-2,4.8599999999999997E-2,4.5999999999999999E-2,4.3399999999999994E-2,4.0800000000000003E-2,3.8200000000000005E-2]
[null,0.1,0.15,{"$f":"D37-(D$36-D$39)/3","v":5.5999999999999994E-2},null,{"$f":"F37","v":0.1},{"$f":"G37-(G$36-G$39)/3","v":4.3999999999999997E-2},null,{"$f":"I37","v":0.05},{"$f":"J37-(J$36-J$39)/3","v":0.03},null,{"$f":"L37","v":0.02},0.02,null,null,0.12,{"$f":"Q37-(Q$35-Q$40)/5","v":5.3600000000000009E-2},5.1200000000000002E-2,4.8799999999999996E-2,4.6399999999999997E-2,4.3999999999999997E-2,4.1599999999999991E-2,3.9200000000000006E-2,3.6800000000000006E-2]
[null,0.09,0.15,5.2999999999999999E-2,null,0.1,4.2000000000000003E-2,null,0.05,2.9000000000000001E-2,null,0.02,0.02,null,null,0.11,{"$f":"Q38-(Q$35-Q$40)/5","v":5.0800000000000012E-2},4.8600000000000004E-2,4.6399999999999997E-2,4.4199999999999996E-2,4.1999999999999996E-2,3.9799999999999988E-2,3.7600000000000008E-2,3.5400000000000008E-2]
[null,0.08,0.15,{"$f":"D39-(D$39-D$43)/4","v":0.05},null,0.1,{"$f":"G39-(G$39-G$43)/4","v":0.04},null,0.05,2.8000000000000001E-2,null,0.02,0.02,null,null,0.1,4.8000000000000001E-2,{"$f":"Q40-($Q40-$T40)/3","v":4.5999999999999999E-2},{"$f":"R40-($Q40-$T40)/3","v":4.3999999999999997E-2},4.2000000000000003E-2,{"$f":"T40-($T40-$X40)/4","v":0.04},{"$f":"U40-($T40-$X40)/4","v":3.7999999999999999E-2},{"$f":"V40-($T40-$X40)/4","v":3.5999999999999997E-2},3.4000000000000002E-2]
[null,7.0000000000000007E-2,0.15,{"$f":"D40-(D$39-D$43)/4","v":4.7E-2},null,0.1,{"$f":"G40-(G$39-G$43)/4","v":3.7999999999999999E-2},null,0.05,{"$f":"J40-(J$39-J$43)/4","v":2.725E-2},null,0.02,0.02,null,null,9.0000000000000094E-2,{"$f":"Q40-(Q$40-Q$45)/5","v":4.48E-2},{"$f":"R40-(R$40-R$45)/5","v":4.2999999999999997E-2},4.1200000000000001E-2,3.9400000000000004E-2,3.7600000000000001E-2,3.585E-2,3.4099999999999998E-2,3.2399999999999998E-2]
[null,0.06,0.15,{"$f":"D41-(D$39-D$43)/4","v":4.3999999999999997E-2},null,0.1,{"$f":"G41-(G$39-G$43)/4","v":3.5999999999999997E-2},null,0.05,{"$f":"J41-(J$39-J$43)/4","v":2.6499999999999999E-2},null,0.02,0.02,null,null,8.0000000000000099E-2,{"$f":"Q41-(Q$40-Q$45)/5","v":4.1599999999999998E-2},3.9999999999999994E-2,3.8400000000000004E-2,3.6800000000000006E-2,3.5200000000000002E-2,3.3700000000000001E-2,3.2199999999999999E-2,3.0799999999999998E-2]
[null,0.05,0.15,4.1000000000000002E-2,null,0.1,3.4000000000000002E-2,null,0.05,2.5999999999999999E-2,null,0.02,0.02,null,null,7.0000000000000201E-2,{"$f":"Q42-(Q$40-Q$45)/5","v":3.8399999999999997E-2},3.6999999999999991E-2,3.5600000000000007E-2,3.4200000000000008E-2,3.2800000000000003E-2,3.1550000000000002E-2,3.0300000000000001E-2,2.9199999999999997E-2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,6.0000000000000199E-2,{"$f":"Q43-(Q$40-Q$45)/5","v":3.5199999999999995E-2},3.3999999999999989E-2,3.280000000000001E-2,3.160000000000001E-2,3.0400000000000003E-2,2.9400000000000003E-2,2.8400000000000002E-2,2.7599999999999996E-2]
["Median",{"$f":"MEDIAN(B36:B43)","v":8.4999999999999992E-2},{"$f":"MEDIAN(C36:C43)","v":0.15},{"$f":"ROUND(MEDIAN(D36:D43),2)","v":0.05},null,{"$f":"MEDIAN(F36:F43)","v":0.1},{"$f":"ROUND(MEDIAN(G36:G43),2)","v":0.04},null,{"$f":"MEDIAN(I36:I43)","v":0.05},{"$f":"ROUND(MEDIAN(J36:J43),2)","v":0.03},null,{"$f":"MEDIAN(L36:L43)","v":0.02},{"$f":"ROUND(MEDIAN(M36:M43),2)","v":0.02},null,null,5.0000000000000197E-2,3.2000000000000001E-2,{"$f":"Q45-($Q45-$T45)/3","v":3.1E-2},{"$f":"R45-($Q45-$T45)/3","v":0.03},2.9000000000000001E-2,2.8000000000000001E-2,{"$f":"U45-($T45-$X45)/4","v":2.725E-2},{"$f":"V45-($T45-$X45)/4","v":2.6499999999999999E-2},2.5999999999999999E-2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.04,{"$f":"Q45-(Q$45-Q$48)/3","v":2.8000000000000001E-2},{"$f":"R45-(R$45-R$48)/3","v":2.7333333333333334E-2},2.6666666666666665E-2,2.6000000000000002E-2,2.5333333333333333E-2,2.4833333333333332E-2,2.4333333333333332E-2,2.4E-2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.03,{"$f":"Q46-(Q$45-Q$48)/3","v":2.4E-2},2.3666666666666669E-2,2.3333333333333331E-2,2.3000000000000003E-2,2.2666666666666665E-2,2.2416666666666665E-2,2.2166666666666664E-2,2.2000000000000002E-2]
[null,null,"Perpetuity growth rate consistent with DDM (17 years), linearly stepping down from a high growth rate to ",null,null,null,null,null,null,null,null,null,null,null,null,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[]
[null,null,null,"LY Growth","Perpetuity"]
[null,null,null,0.15,0.05]
[null,null,null,0.14000000000000001,{"$f":"E51-($E$51-$E$56)/5","v":4.8000000000000001E-2},"=E51-($E$51-$E$56)/5"]
[null,null,null,0.13,{"$f":"E52-($E$51-$E$56)/5","v":4.5999999999999999E-2}]
[null,null,null,0.12,{"$f":"E53-($E$51-$E$56)/5","v":4.3999999999999997E-2}]
[null,null,null,0.11,{"$f":"E54-($E$51-$E$56)/5","v":4.1999999999999996E-2}]
[null,null,null,0.1,0.04]
[null,null,null,9.0000000000000094E-2,{"$f":"E56-($E$56-$E$61)/COUNT($D$57:$D$61)","v":3.7999999999999999E-2}]
[null,null,null,8.0000000000000099E-2,{"$f":"E57-($E$56-$E$61)/COUNT($D$57:$D$61)","v":3.5999999999999997E-2}]
[null,null,null,7.0000000000000201E-2,{"$f":"E58-($E$56-$E$61)/COUNT($D$57:$D$61)","v":3.3999999999999996E-2}]
[null,null,null,6.0000000000000199E-2,{"$f":"E59-($E$56-$E$61)/COUNT($D$57:$D$61)","v":3.1999999999999994E-2}]
[null,null,null,5.0000000000000197E-2,0.03]
[null,null,null,0.04,{"$f":"E61-($E$61-$E$64)/COUNT($D$62:$D$64)","v":2.6666666666666665E-2}]
[null,null,null,0.03,{"$f":"E62-($E$61-$E$64)/COUNT($D$62:$D$64)","v":2.3333333333333331E-2}]
[null,null,null,0.02,0.02]

{"sheet":"Additional Data","index":2,"n_rows":180,"n_cols":20,"rows_kept":180,"cut":false,"hidden":false,"merged":[[38,4,38,5],[39,4,39,5],[10,4,10,11],[12,2,25,2],[32,4,32,5],[33,4,33,5],[34,4,34,5],[6,1,6,12],[47,1,47,12],[8,5,8,6],[8,9,8,10],[40,4,40,5],[28,1,28,12],[41,4,41,5],[30,9,31,9],[30,10,31,10],[30,11,31,11],[30,2,31,2],[30,3,31,3],[30,4,31,5],[35,4,35,5],[36,4,36,5],[37,4,37,5]]}
[]
[]
[]
[]
[]
[]
[null,"Perpetuity Growth Estimation"]
[]
[null,null,"Value",0.02,null,"Discount rate",null,0.12,null,"Year 5 FCF Growth",null,0.02]
[]
[null,null,null,null,"Discount rate"]
[null,null,null,null,0.12,0.11,0.1,0.09,0.08,7.0000000000000007E-2,0.06,0.05]
[null,null,"Year 5 FCF Growth",0.15,6.2E-2,5.8999999999999997E-2,5.5999999999999994E-2,5.2999999999999999E-2,0.05,4.7E-2,4.3999999999999997E-2,4.1000000000000002E-2]
[null,null,null,0.14000000000000001,5.9200000000000003E-2,5.6399999999999999E-2,5.3599999999999995E-2,5.0799999999999998E-2,4.8000000000000001E-2,4.5199999999999997E-2,4.24E-2,3.9600000000000003E-2]
[null,null,null,0.13,5.6400000000000006E-2,5.3800000000000001E-2,5.1199999999999996E-2,4.8599999999999997E-2,4.5999999999999999E-2,4.3399999999999994E-2,4.0800000000000003E-2,3.8200000000000005E-2]
[null,null,null,0.12,5.3600000000000009E-2,5.1200000000000002E-2,4.8799999999999996E-2,4.6399999999999997E-2,4.3999999999999997E-2,4.1599999999999991E-2,3.9200000000000006E-2,3.6800000000000006E-2]
[null,null,null,0.11,5.0800000000000012E-2,4.8600000000000004E-2,4.6399999999999997E-2,4.4199999999999996E-2,4.1999999999999996E-2,3.9799999999999988E-2,3.7600000000000008E-2,3.5400000000000008E-2]
[null,null,null,0.1,4.8000000000000001E-2,4.5999999999999999E-2,4.3999999999999997E-2,4.2000000000000003E-2,0.04,3.7999999999999999E-2,3.5999999999999997E-2,3.4000000000000002E-2]
[null,null,null,0.09,4.48E-2,4.2999999999999997E-2,4.1200000000000001E-2,3.9400000000000004E-2,3.7650000000000003E-2,3.5900000000000001E-2,3.415E-2,3.2399999999999998E-2]
[null,null,null,0.08,4.1599999999999998E-2,3.9999999999999994E-2,3.8400000000000004E-2,3.6800000000000006E-2,3.5300000000000005E-2,3.3800000000000004E-2,3.2300000000000002E-2,3.0799999999999998E-2]
[null,null,null,7.0000000000000007E-2,3.8399999999999997E-2,3.6999999999999991E-2,3.5600000000000007E-2,3.4200000000000008E-2,3.2950000000000007E-2,3.1700000000000006E-2,3.0450000000000001E-2,2.9199999999999997E-2]
[null,null,null,0.06,3.5199999999999995E-2,3.3999999999999989E-2,3.280000000000001E-2,3.160000000000001E-2,3.0600000000000006E-2,2.9600000000000005E-2,2.86E-2,2.7599999999999996E-2]
[null,null,null,0.05,3.2000000000000001E-2,3.1E-2,0.03,2.9000000000000001E-2,2.8250000000000001E-2,2.75E-2,2.6749999999999999E-2,2.5999999999999999E-2]
[null,null,null,0.04,2.8000000000000001E-2,2.7333333333333334E-2,2.6666666666666665E-2,2.6000000000000002E-2,2.5500000000000002E-2,2.5000000000000001E-2,2.4500000000000001E-2,2.4E-2]
[null,null,null,0.03,2.4E-2,2.3666666666666669E-2,2.3333333333333331E-2,2.3000000000000003E-2,2.2750000000000003E-2,2.2500000000000003E-2,2.2250000000000002E-2,2.2000000000000002E-2]
[null,null,null,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[]
[]
[null,"Peers Data"]
[]
[null,null,"Custom","Peers","Rel. Indx.",null,null,null,null,"Ticker","EV/EBITDA","WACC"]
[]
[null,null,null,"005930 KS","SPTSX Index",null,null,null,null,"005930 KS",2.1024110262830429,0.11579590630917107]
[null,null,null,"AAPL US","STINFT Index",null,null,null,null,"AAPL US",6.0462225154266731,9.1785663640807494E-2]
[null,null,null,"SHOR US",null,null,null,null,null,"SHOR US","",0.11184718675295711]
[null,null,null,"2498 TT",null,null,null,null,null,"2498 TT","",0.14565025975828]
[null,null,null,"066570 KS",null,null,null,null,null,"066570 KS",5.1308912320827726,5.5320100435845988E-2]
[null,null,null,"SPT LN",null,null,null,null,null,"SPT LN",17.247173662222224,7.2171331440100003E-2]
[null,null,null,"6703 JP",null,null,null,null,null,"6703 JP",5.9663664718249096,5.2457345383512835E-2]
[null,null,null,"MITL US",null,null,null,null,null,"MITL US",13.092228739002934,7.9085051321358193E-2]
[null,null,null,"SHEN US",null,null,null,null,null,"SHEN US",8.3214870562502696,8.262844467506357E-2]
[null,null,null,"3105 JP",null,null,null,null,null,"3105 JP",6.8542892706292928,7.7481045884212771E-2]
[null,null,null,null,null,null,null,null,null,"Median",6.4502558930279825,8.0856747998210882E-2]
[null,null,null,null,null,null,null,null,null,"IQR",6.5597832762964607,4.4875842952974102E-2]
[null,null,null,null,null,null,null,null,null,"Up Limit",21.739218232759459,0.18014813107147176]
[]
[]
[null,"Net Long Term Deferred Tax Liabilities"]
[]
[null,null,null,null,"-6FY","-5FY","-4FY","-3FY","-2FY","-1FY","-0FY"]
[null,null,null,"Field",null,"Févr 10 A","Févr 11 A","Févr 12 A","Févr 13 A","Févr 14 A","Févr 15 A"]
[null,null,null,"Liabilities",111.3556722,149.1014572,270.61799999999999,229.33200000000002,251.8845,35.3568,60.043199999999999]
[null,null,null,"Assets",0.51170640000000001,0,0,0,0,0,0]
[null,null,null,"Net",110.84396580000001,149.1014572,270.61799999999999,229.33200000000002,251.8845,35.3568,60.043199999999999]
[null,null,null,"Change",null,38.257491399999992,121.5165428,-41.285999999999973,22.552499999999981,-216.52770000000001,24.686399999999999]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":" IF($O$61<>\"\",1, IF($O$62<>\"\",2,3 ))","v":3},{"$f":" IF($P$61<>\"\",1, IF($P$62<>\"\",2,3 ))","v":3},{"$f":" IF($Q$61<>\"\",1, IF($Q$62<>\"\",2,3 ))","v":3},{"$f":" IF($R$61<>\"\",1, IF($R$62<>\"\",2,3 ))","v":3},{"$f":" IF($S$61<>\"\",1, IF($S$62<>\"\",2,3 ))","v":3},{"$f":" IF($T$61<>\"\",1, IF($T$62<>\"\",2,3 ))","v":3}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":" IF($O$82<>\"\", 1,2)","v":2},{"$f":" IF($P$82<>\"\", 1,2)","v":2},{"$f":" IF($Q$82<>\"\", 1,2)","v":2},{"$f":" IF($R$82<>\"\", 1,2)","v":2},{"$f":" IF($S$82<>\"\", 1,2)","v":2},{"$f":" IF($T$82<>\"\", 1,2)","v":2}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":" IF($O$97<>\"\", 1,2)","v":2},{"$f":" IF($P$97<>\"\", 1,2)","v":2},{"$f":" IF($Q$97<>\"\", 1,2)","v":2},{"$f":" IF($R$97<>\"\", 1,2)","v":2},{"$f":" IF($S$97<>\"\", 1,2)","v":2},{"$f":" IF($T$97<>\"\", 1,2)","v":2}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":" IF($O$117<>\"\", 1,2)","v":2},{"$f":" IF($P$117<>\"\", 1,2)","v":2},{"$f":" IF($Q$117<>\"\", 1,2)","v":2},{"$f":" IF($R$117<>\"\", 1,2)","v":2},{"$f":" IF($S$117<>\"\", 1,2)","v":2},{"$f":" IF($T$117<>\"\", 1,2)","v":2}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":" IF($O$133<>\"\", 1,2)","v":2},{"$f":" IF($P$133<>\"\", 1,2)","v":2},{"$f":" IF($Q$133<>\"\", 1,2)","v":2},{"$f":" IF($R$133<>\"\", 1,2)","v":2},{"$f":" IF($S$133<>\"\", 1,2)","v":2},{"$f":" IF($T$133<>\"\", 1,2)","v":2}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":" IF($O$151<>\"\",1, IF($O$152<>\"\",2,3 ))","v":3},{"$f":" IF($P$151<>\"\",1, IF($P$152<>\"\",2,3 ))","v":3},{"$f":" IF($Q$151<>\"\",1, IF($Q$152<>\"\",2,3 ))","v":3},{"$f":" IF($R$151<>\"\",1, IF($R$152<>\"\",2,3 ))","v":3},{"$f":" IF($S$151<>\"\",1, IF($S$152<>\"\",2,3 ))","v":3},{"$f":" IF($T$151<>\"\",1, IF($T$152<>\"\",2,3 ))","v":3}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,1,1,1]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,1,1,1,1,1]

{"sheet":"Data","index":3,"n_rows":58,"n_cols":14,"rows_kept":58,"cut":false,"hidden":true,"merged":[[1,1,1,2],[1,4,1,5]]}
[]
[null,"Currency Options",null,null,"Data Options",null,null,null,null,null,null,"Market Status"]
[null,"Choice",{"$f":"VLOOKUP(DCF!$K$6,Data!$B$4:$C$17,2,FALSE)","v":"CAD"},null,"Choice",{"$f":"VLOOKUP(DCF!K8,Data!E4:F5,2,FALSE)","v":"Y"},null,null,null,null,null,"PR286","Status","Message"]
[null,"Fundamental",{"$f":"_xll.BDP(TKR,\"EQY_FUND_CRNCY\",\"Fill=B\")","v":"USD"},null,"Adjusted (If available)","Y",null,null,null,null,null,"ACTV"," Active",{"$f":"\"\"","v":""}]
[null,"Trading",{"$f":"_xll.BDP(TKR,\"CRNCY\",\"Fill=B\")","v":"CAD"},null,"GAAP","N",null,null,null,null,null,"DLST"," Delisted",{"$f":"\"WARNING: This ticker is\"&M5","v":"WARNING: This ticker is Delisted"}]
[null,"AUD",{"$f":"B6","v":"AUD"},null,null,null,null,null,null,null,null,"ACQU"," Acquired",{"$f":"\"WARNING: This company's market status is\"&M6","v":"WARNING: This company's market status is Acquired"}]
[null,"BRL","BRL",null,"Adj Financials Available",{"$f":"_xll.BDP(TKR,\"ADJUSTED_FINANCIALS_INDICATOR\")","v":"Y"},null,null,null,null,null,"UNLS"," Unlisted",{"$f":"\"WARNING: This ticker is\"&M7","v":"WARNING: This ticker is Unlisted"}]
[null,"CAD",{"$f":"B8","v":"CAD"},null,null,null,null,null,null,null,null,"SUSP"," Suspended",{"$f":"\"WARNING: This ticker is\"&M8","v":"WARNING: This ticker is Suspended"}]
[null,"CHF","CHF",null,null,null,null,null,null,null,null,"HALT"," Halted",{"$f":"\"WARNING: This ticker is\"&M9","v":"WARNING: This ticker is Halted"}]
[null,"DKK","DKK",null,null,null,null,null,null,null,null,"PRIV"," Private Company",{"$f":"\"WARNING: This company's market status is\"&M10","v":"WARNING: This company's market status is Private Company"}]
[null,"EUR","EUR",null,null,null,null,null,null,null,null,"EXPD"," Expired",{"$f":"\"WARNING: This ticker is\"&M11","v":"WARNING: This ticker is Expired"}]
[null,"GBP","GBP",null,null,null,null,null,null,null,null,"POST"," Postponed",{"$f":"\"WARNING: This ticker is\"&M12","v":"WARNING: This ticker is Postponed"}]
[null,"JPY","JPY",null,null,null,null,null,null,null,null,"PEND"," Pending Listing",{"$f":"\"WARNING: This ticker is\"&M13","v":"WARNING: This ticker is Pending Listing"}]
[null,"NOK","NOK",null,null,null,null,null,null,null,null,"TKCH"," Ticker Change",{"$f":"\"WARNING: This ticker has changed. See DES<GO> or CACS<GO> for details.\"","v":"WARNING: This ticker has changed. See DES<GO> or CACS<GO> for details."}]
[null,"NZD","NZD",null,null,null,null,null,null,null,null,"LIQU"," Liquidated",{"$f":"\"WARNING: This company's market status is\"&M15","v":"WARNING: This company's market status is Liquidated"}]
[null,"SEK","SEK",null,null,null,null,null,null,null,null,"INAC"," Inactive",{"$f":"\"WARNING: This ticker is\"&M16","v":"WARNING: This ticker is Inactive"}]
[null,"USD","USD",null,null,null,null,null,null,null,null,"WHIS"," When Issued",{"$f":"\"WARNING: This ticker's market status is\"&M17","v":"WARNING: This ticker's market status is When Issued"}]
[null,null,null,null,null,null,null,null,null,null,null,"PSYM"," Pending Symbol","WARNING: This ticker's market status is Pending Symbol"]
[null,null,null,null,null,null,null,null,null,null,null,"OInd"," Opening Auction","WARNING: This ticker's market status is Opening Auction"]
[null,null,null,null,null,null,null,null,null,null,null,"CInd"," Closing Auction","WARNING: This ticker's market status is Closing Auction"]
[null,null,null,null,null,null,null,null,null,null,null,"Auct"," Auction","WARNING: This ticker's market status is Auction"]
[null,null,null,null,null,null,null,null,null,null,null,"IMRK"," Indicated Market","WARNING: This ticker's market status is Indicated Market"]
[null,null,null,null,null,null,null,null,null,null,null,"OPDL"," Opening Delay","WARNING: This ticker's market status is Opening Delay"]
[null,null,null,null,null,null,null,null,null,null,null,"NOOP"," No Open, No Resume","WARNING: This ticker's market status is No Open, No Resume"]
[null,null,null,null,null,null,null,null,null,null,null,"PIND"," Price Indication","WARNING: This ticker's market status is Price Indication"]
[null,null,null,null,null,null,null,null,null,null,null,"TRIN"," Trading Range Indication","WARNING: This ticker's market status is Trading Range Indication"]
[null,"Primary periodicity",null,null,null,null,null,null,null,null,null,"IMBB"," Market Imbalance Buy","WARNING: This ticker's market status is Market Imbalance Buy"]
[null,{"$f":"LEFT(_xll.BDP(TKR,\"PRIMARY_PERIODICITY\",\"Fill=B\"),1)","v":"Q"},{"$f":"\"-0F\"&B28","v":"-0FQ"},null,null,null,null,null,null,null,null,"IMBS"," Market Imbalance Sell","WARNING: This ticker's market status is Market Imbalance Sell"]
[null,null,null,null,null,null,null,null,null,null,null,"NIMB"," No Market Imbalance","WARNING: This ticker's market status is No Market Imbalance"]
[null,"Palette",null,null,null,null,null,null,null,null,null,"NOMM"," No Market Makers","WARNING: This ticker's market status is No Market Makers"]
[null,null,"FMT_INP",null,null,null,null,null,null,null,null,"RSRV"," Halted Exceeds Limit","WARNING: This ticker's market status is Halted Exceeds Limit"]
[null,null,"FMT_SEL",null,null,null,null,null,null,null,null,"DELT"," Security Deleted","WARNING: This ticker's market status is Security Deleted"]
[null,null,"FMT_ERR",null,null,null,null,null,null,null,null,"WI"," When Issued","WARNING: This ticker's market status is When Issued"]
[null,null,null,null,null,null,null,null,null,null,null,"DL"," Delisted","WARNING: This ticker's market status is Delisted"]
[null,"Description",null,null,null,null,null,null,null,null,null,"SC"," Script Conversion","WARNING: This ticker's market status is Script Conversion"]
[null,{"$f":"_xll.BDS(TKR,\"CIE_DES_BULK\",\"Fill=B\",\"cols=1;rows=4\")","v":"BlackBerry Limited designs, manufactures, and markets wireless solutions for the"},null,null,null,null,null,null,null,null,null,"CA"," Any Combination of Cum Remarks",{"$f":"\"WARNING: This ticker's market status is\"&M36","v":"WARNING: This ticker's market status is Any Combination of Cum Remarks"}]
[null,"worldwide mobile communications market. The Company provides platforms and",null,null,null,null,null,null,null,null,null,"CD"," Cum Dividend","WARNING: This ticker's market status is Cum Dividend"]
[null,"solutions for access to email, phone, SMS messaging, Internet, and",null,null,null,null,null,null,null,null,null,"CB"," Cum Bonus","WARNING: This ticker's market status is Cum Bonus"]
[null,"Intranet-based applications.",null,null,null,null,null,null,null,null,null,"CR"," Cum Rights","WARNING: This ticker's market status is Cum Rights"]
[null,null,null,null,null,null,null,null,null,null,null,"CO"," Cum Offer","WARNING: This ticker's market status is Cum Offer"]
[null,null,null,null,null,null,null,null,null,null,null,"CI"," Cum Interest","WARNING: This ticker's market status is Cum Interest"]
[null,null,null,null,null,null,null,null,null,null,null,"CE"," Cum Entitlement","WARNING: This ticker's market status is Cum Entitlement"]
[null,null,null,null,null,null,null,null,null,null,null,"XA"," Any Combination of Ex Remarks","WARNING: This ticker's market status is Any Combination of Ex Remarks"]
[null,null,null,null,null,null,null,null,null,null,null,"XD"," Ex Dividend","WARNING: This ticker's market status is Ex Dividend"]
[null,null,null,null,null,null,null,null,null,null,null,"XB"," Ex Bonus",{"$f":"\"WARNING: This ticker's market status is\"&M45","v":"WARNING: This ticker's market status is Ex Bonus"}]
[null,null,null,null,null,null,null,null,null,null,null,"XR"," Ex Rights",{"$f":"\"WARNING: This ticker's market status is\"&M46","v":"WARNING: This ticker's market status is Ex Rights"}]
[null,null,null,null,null,null,null,null,null,null,null,"XL"," Ex Liquidation",{"$f":"\"WARNING: This ticker's market status is\"&M47","v":"WARNING: This ticker's market status is Ex Liquidation"}]
[null,null,null,null,null,null,null,null,null,null,null,"XS"," Ex Stock Distribution","WARNING: This ticker's market status is Ex Stock Distribution"]
[null,null,null,null,null,null,null,null,null,null,null,"XP"," Ex Repayment of Capital","WARNING: This ticker's market status is Ex Repayment of Capital"]
[null,null,null,null,null,null,null,null,null,null,null,"ST"," Stabilization Indicator","WARNING: This ticker's market status is Stabilization Indicator"]
[null,null,null,null,null,null,null,null,null,null,null,"SP"," Stock Split","WARNING: This ticker's market status is Stock Split"]
[null,null,null,null,null,null,null,null,null,null,null,"XDXR"," Ex Dividend/Ex Rights","WARNING: This ticker's market status is Ex Dividend/Ex Rights"]
[null,null,null,null,null,null,null,null,null,null,null,"PRNA"," Price Not Available","WARNING: This ticker's market status is Price Not Available"]
[null,null,null,null,null,null,null,null,null,null,null,"INFO"," Additional Information on DES","WARNING: This ticker's market status is Additional Information on DES"]
[null,null,null,null,null,null,null,null,null,null,null,"PREN"," PreNotice","WARNING: This ticker's market status is PreNotice"]
[null,null,null,null,null,null,null,null,null,null,null,"RSUS"," Suspended by the Regulator","WARNING: This ticker's market status is Suspended by the Regulator"]
[null,null,null,null,null,null,null,null,null,null,null,"SUSH"," Short Term Suspension","WARNING: This ticker's market status is Short Term Suspension"]
[null,null,null,null,null,null,null,null,null,null,null,"AHLT"," Authorized Halt","WARNING: This ticker's market status is Authorized Halt"]

{"sheet":"BBG_DATA","index":4,"n_rows":35,"n_cols":7,"rows_kept":35,"cut":false,"hidden":true,"merged":[]}
[{"$f":"COUNTIF(3:100,\"#N/A Requesting Data...\")","v":0}]
[null,1,2,3,4,5,6]
["Best Sales",{"$f":"_xll.BDP(TKR,\"BEST_SALES\",\"BEST_FPERIOD_OVERRIDE\",B$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":2855.1240000000003},{"$f":"_xll.BDP(TKR,\"BEST_SALES\",\"BEST_FPERIOD_OVERRIDE\",C$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":2643.5450000000001},{"$f":"_xll.BDP(TKR,\"BEST_SALES\",\"BEST_FPERIOD_OVERRIDE\",D$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":2216.8760000000002},{"$f":"_xll.BDP(TKR,\"BEST_SALES\",\"BEST_FPERIOD_OVERRIDE\",E$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_SALES\",\"BEST_FPERIOD_OVERRIDE\",F$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_SALES\",\"BEST_FPERIOD_OVERRIDE\",G$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"}]
["Best EPS LTG",{"$f":"_xll.BDP(TKR,\"BEST_EST_LONG_TERM_GROWTH\")","v":-20.402000000000001}]
["Best Gross Margin",{"$f":"_xll.BDP(TKR,\"BEST_GROSS_MARGIN\",\"BEST_FPERIOD_OVERRIDE\",B$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":45.280999999999999},{"$f":"_xll.BDP(TKR,\"BEST_GROSS_MARGIN\",\"BEST_FPERIOD_OVERRIDE\",C$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":45.204000000000001},{"$f":"_xll.BDP(TKR,\"BEST_GROSS_MARGIN\",\"BEST_FPERIOD_OVERRIDE\",D$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":60.207999999999998},{"$f":"_xll.BDP(TKR,\"BEST_GROSS_MARGIN\",\"BEST_FPERIOD_OVERRIDE\",E$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_GROSS_MARGIN\",\"BEST_FPERIOD_OVERRIDE\",F$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_GROSS_MARGIN\",\"BEST_FPERIOD_OVERRIDE\",G$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"}]
["Best OPP",{"$f":"_xll.BDP(TKR,\"BEST_OPP\",\"BEST_FPERIOD_OVERRIDE\",B$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-249.61799999999999},{"$f":"_xll.BDP(TKR,\"BEST_OPP\",\"BEST_FPERIOD_OVERRIDE\",C$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-310.98099999999999},{"$f":"_xll.BDP(TKR,\"BEST_OPP\",\"BEST_FPERIOD_OVERRIDE\",D$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-368.80700000000002},{"$f":"_xll.BDP(TKR,\"BEST_OPP\",\"BEST_FPERIOD_OVERRIDE\",E$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_OPP\",\"BEST_FPERIOD_OVERRIDE\",F$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_OPP\",\"BEST_FPERIOD_OVERRIDE\",G$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"}]
["Best EBITDA",{"$f":"_xll.BDP(TKR,\"BEST_EBITDA\",\"BEST_FPERIOD_OVERRIDE\",B$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":472.99700000000001},{"$f":"_xll.BDP(TKR,\"BEST_EBITDA\",\"BEST_FPERIOD_OVERRIDE\",C$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":412.29},{"$f":"_xll.BDP(TKR,\"BEST_EBITDA\",\"BEST_FPERIOD_OVERRIDE\",D$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":267.75100000000003},{"$f":"_xll.BDP(TKR,\"BEST_EBITDA\",\"BEST_FPERIOD_OVERRIDE\",E$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_EBITDA\",\"BEST_FPERIOD_OVERRIDE\",F$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_EBITDA\",\"BEST_FPERIOD_OVERRIDE\",G$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"}]
["Best CAPEX",{"$f":"_xll.BDP(TKR,\"BEST_CAPEX\",\"BEST_FPERIOD_OVERRIDE\",B$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-77.807000000000002},{"$f":"_xll.BDP(TKR,\"BEST_CAPEX\",\"BEST_FPERIOD_OVERRIDE\",C$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-130.47300000000001},{"$f":"_xll.BDP(TKR,\"BEST_CAPEX\",\"BEST_FPERIOD_OVERRIDE\",D$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-191.809},{"$f":"_xll.BDP(TKR,\"BEST_CAPEX\",\"BEST_FPERIOD_OVERRIDE\",E$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_CAPEX\",\"BEST_FPERIOD_OVERRIDE\",F$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,\"BEST_CAPEX\",\"BEST_FPERIOD_OVERRIDE\",G$2&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"}]
[]
[null,{"$f":"C10-1","v":-5},{"$f":"D10-1","v":-4},{"$f":"E10-1","v":-3},{"$f":"F10-1","v":-2},{"$f":"G10-1","v":-1},"-0"]
["IS_COMP_SALES",{"$f":"_xll.BDP(TKR,$A11,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":16617.006847678778},{"$f":"_xll.BDP(TKR,$A11,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":20323.487484188721},{"$f":"_xll.BDP(TKR,$A11,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":18356.397527269932},{"$f":"_xll.BDP(TKR,$A11,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":11061.339286188208},{"$f":"_xll.BDP(TKR,$A11,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":7128.9817041387923},{"$f":"_xll.BDP(TKR,$A11,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":3754.077391876624}]
["SALES_REV_TURN",{"$f":"_xll.BDP(TKR,$A12,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":16617.006847678778},{"$f":"_xll.BDP(TKR,$A12,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":20323.487484188721},{"$f":"_xll.BDP(TKR,$A12,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":18272.093778090228},{"$f":"_xll.BDP(TKR,$A12,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":11061.339286188208},{"$f":"_xll.BDP(TKR,$A12,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":7128.9817041387923},{"$f":"_xll.BDP(TKR,$A12,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":3754.077391876624}]
["GROSS_PROFIT",{"$f":"_xll.BDP(TKR,$A13,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":7316.8698074033091},{"$f":"_xll.BDP(TKR,$A13,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":9009.6336488654979},{"$f":"_xll.BDP(TKR,$A13,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":6521.1429512535015},{"$f":"_xll.BDP(TKR,$A13,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":3430.3837360038206},{"$f":"_xll.BDP(TKR,$A13,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-44.994306954053734},{"$f":"_xll.BDP(TKR,$A13,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":1805.5592613403612}]
["IS_OPER_INC",{"$f":"_xll.BDP(TKR,$A14,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":3598.1342860839695},{"$f":"_xll.BDP(TKR,$A14,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":4732.9928154266781},{"$f":"_xll.BDP(TKR,$A14,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":1484.7377943766526},{"$f":"_xll.BDP(TKR,$A14,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-1233.6994507759809},{"$f":"_xll.BDP(TKR,$A14,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-7495.2144351601601},{"$f":"_xll.BDP(TKR,$A14,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-476.15434385721488}]
["EFF_TAX_RATE",{"$f":"_xll.BDP(TKR,$A15,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":24.777698522276069},{"$f":"_xll.BDP(TKR,$A15,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":26.550387596899228},{"$f":"_xll.BDP(TKR,$A15,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":22.859025032938078},{"$f":"_xll.BDP(TKR,$A15,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,$A15,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"},{"$f":"_xll.BDP(TKR,$A15,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":"#N/A N/A"}]
["CF_DEPR_AMORT",{"$f":"_xll.BDP(TKR,$A16,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":684.11858021887826},{"$f":"_xll.BDP(TKR,$A16,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":946.39437875335022},{"$f":"_xll.BDP(TKR,$A16,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":1510.5248235375032},{"$f":"_xll.BDP(TKR,$A16,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":1915.9801996666649},{"$f":"_xll.BDP(TKR,$A16,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":1328.9016239918194},{"$f":"_xll.BDP(TKR,$A16,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":781.20830883429596}]
["CF_CAP_EXPEND_PRPTY_ADD",{"$f":"_xll.BDP(TKR,$A17,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-1121.7295069047666},{"$f":"_xll.BDP(TKR,$A17,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-1060.7376046652976},{"$f":"_xll.BDP(TKR,$A17,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-894.6115501187312},{"$f":"_xll.BDP(TKR,$A17,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-417.55981410879355},{"$f":"_xll.BDP(TKR,$A17,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-296.12532251156284},{"$f":"_xll.BDP(TKR,$A17,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-97.932453701129319}]
["NET_WORKING_CAPITAL_INVESTMENT",{"$f":"_xll.BDP(TKR,$A18,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":275.65240259999985},{"$f":"_xll.BDP(TKR,$A18,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":262.37787800000001},{"$f":"_xll.BDP(TKR,$A18,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":169.0335},{"$f":"_xll.BDP(TKR,$A18,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-597.3261},{"$f":"_xll.BDP(TKR,$A18,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-1178.9283},{"$f":"_xll.BDP(TKR,$A18,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":-434.06229999999999}]
["IS_COGS_TO_FE_AND_PP_AND_G",{"$f":"_xll.BDP(TKR,$A19,\"EQY_FUND_RELATIVE_PERIOD\",B$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":9300.1370402754674},{"$f":"_xll.BDP(TKR,$A19,\"EQY_FUND_RELATIVE_PERIOD\",C$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":11313.853835323223},{"$f":"_xll.BDP(TKR,$A19,\"EQY_FUND_RELATIVE_PERIOD\",D$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":11750.950826836726},{"$f":"_xll.BDP(TKR,$A19,\"EQY_FUND_RELATIVE_PERIOD\",E$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":7630.9555501843879},{"$f":"_xll.BDP(TKR,$A19,\"EQY_FUND_RELATIVE_PERIOD\",F$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":7173.9760110928464},{"$f":"_xll.BDP(TKR,$A19,\"EQY_FUND_RELATIVE_PERIOD\",G$10&\"FY\",\"EQY_FUND_CRNCY\",CCY)","v":1948.5181305362623}]
[]
["ARD_DEFERRED_UNEARNED_REV_LT",{"$f":"_xll.BDP(TKR,$A21,\"EQY_FUND_RELATIVE_PERIOD\",B$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A21,\"EQY_FUND_RELATIVE_PERIOD\",C$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A21,\"EQY_FUND_RELATIVE_PERIOD\",D$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A21,\"EQY_FUND_RELATIVE_PERIOD\",E$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A21,\"EQY_FUND_RELATIVE_PERIOD\",F$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A21,\"EQY_FUND_RELATIVE_PERIOD\",G$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0}]
["ARD_DEFERRED_INC_TAX_ASSET_LT",{"$f":"_xll.BDP(TKR,$A22,\"EQY_FUND_RELATIVE_PERIOD\",B$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A22,\"EQY_FUND_RELATIVE_PERIOD\",C$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A22,\"EQY_FUND_RELATIVE_PERIOD\",D$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A22,\"EQY_FUND_RELATIVE_PERIOD\",E$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A22,\"EQY_FUND_RELATIVE_PERIOD\",F$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0},{"$f":"_xll.BDP(TKR,$A22,\"EQY_FUND_RELATIVE_PERIOD\",G$10,\"EQY_FUND_CRNCY\",CCY,\"Fill=0\")","v":0}]
[]
["CRNCY",{"$f":"_xll.BDP(TKR,$A$24)","v":"CAD"}]
[]
[{"$f":"_xll.BDS(TKR,\"BLOOMBERG_PEERS\",\"EndRow=10\",\"Fill=B\",\"cols=1;rows=10\")","v":"005930 KS"},{"$f":"IF(ISBLANK(A26),\"\",_xll.BDP(A26&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":2.1024110262830429},{"$f":"IFERROR(_xll.BDP(A26&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":0.11579590630917107}]
["AAPL US",{"$f":"IF(ISBLANK(A27),\"\",_xll.BDP(A27&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":6.0462225154266731},{"$f":"IFERROR(_xll.BDP(A27&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":9.1785426518988564E-2}]
["SHOR US",{"$f":"IF(ISBLANK(A28),\"\",_xll.BDP(A28&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":""},{"$f":"IFERROR(_xll.BDP(A28&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":0.1118428036425531}]
["2498 TT",{"$f":"IF(ISBLANK(A29),\"\",_xll.BDP(A29&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":""},{"$f":"IFERROR(_xll.BDP(A29&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":0.14565025975828}]
["066570 KS",{"$f":"IF(ISBLANK(A30),\"\",_xll.BDP(A30&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":5.1308912320827726},{"$f":"IFERROR(_xll.BDP(A30&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":5.5320100435845988E-2}]
["SPT LN",{"$f":"IF(ISBLANK(A31),\"\",_xll.BDP(A31&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":17.247173662222224},{"$f":"IFERROR(_xll.BDP(A31&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":7.2163280236099997E-2}]
["6703 JP",{"$f":"IF(ISBLANK(A32),\"\",_xll.BDP(A32&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":5.9663664718249096},{"$f":"IFERROR(_xll.BDP(A32&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":5.2457345383512835E-2}]
["MITL US",{"$f":"IF(ISBLANK(A33),\"\",_xll.BDP(A33&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":13.092228739002934},{"$f":"IFERROR(_xll.BDP(A33&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":7.9095000006635413E-2}]
["SHEN US",{"$f":"IF(ISBLANK(A34),\"\",_xll.BDP(A34&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":8.3214870562502696},{"$f":"IFERROR(_xll.BDP(A34&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":8.2630086052275953E-2}]
["3105 JP",{"$f":"IF(ISBLANK(A35),\"\",_xll.BDP(A35&\" Equity\",\"EV_TO_T12M_EBITDA\",\"Fill=B\"))","v":6.8542892706292928},{"$f":"IFERROR(_xll.BDP(A35&\" Equity\",\"WACC\",\"Fill=B\")/100,\"\")","v":7.7481045884212771E-2}]

{"sheet":"Help","index":5,"n_rows":178,"n_cols":8,"rows_kept":178,"cut":false,"hidden":false,"merged":[[220,20,228,23],[5,20,219,23],[220,1,228,19],[9,1,215,2],[9,18,215,19],[9,3,10,17],[5,3,8,17],[5,1,8,2],[5,18,8,19],[216,3,219,17],[216,1,219,2],[216,18,219,19]]}
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"Application Objective: The Bloomberg Excel Discounted Cash Flow (XDCF) allows you to estimate the value of a stock based on the present value of projected free cash flows. "]
[]
[]
[null,null,null,"A. Step-by-step User Guide"]
[]
[null,null,null,"General color scheme:",null,null,null,"<-- User Input"]
[null,null,null,null,null,null,null,"<-- Forecast outlier"]
[null,null,null,null,null,null,null,"<-- Current selection (while forecasting future cash flows)"]
[]
[null,null,null,"Summary"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"Inputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"Outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"B. Features"]
[]
[null,null,null,"Overview"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"Forecasting Free Cash Flows"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"Discounting"]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"Sensitivity"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"C. FAQ"]