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Shopify Inc. (SHOP)

148.30USD +0.03% (+0.04)

Over 5Y: +0.4%

Style
Area Line Line with markersshows 1Y Steps Candlesshows 6M Hollow candlesshows 6M Barsshows 6M

Candles and bars need the day’s open, high and low, and need room to be drawn in: past about a year of trading a body is thinner than a hairline, so those three offer the longest window that fits instead.

50 100 150
2022 2023 2024 2025 2026

Financials Quarterly

Figures
Revenue Gross Profit Operating Income Cost of Revenue Operating Cash Flow Free Cash Flow Net Income

A share count and earnings a share are not here: neither is money, so neither can share this axis. Both have their own panel on All charts.

All charts ›

Shopify Inc. reported revenue of 3.6B USD for the quarter ending 30 June 2026, up 33.7% from 2.7B a year earlier. Every figure, period by period ›

Q1 '24 — Revenue: 1.9B Q1 '24 — Operating Cash Flow: 238M Q1 '24 — Free Cash Flow: 232M Q1 '24 — Net Income: -273M Q2 '24 — Revenue: 2B Q2 '24 — Operating Cash Flow: 340M Q2 '24 — Free Cash Flow: 333M Q2 '24 — Net Income: 171M Q3 '24 — Revenue: 2.2B Q3 '24 — Operating Cash Flow: 423M Q3 '24 — Free Cash Flow: 421M Q3 '24 — Net Income: 828M Q4 '24 — Revenue: 2.8B Q4 '24 — Operating Cash Flow: 615M Q4 '24 — Free Cash Flow: 611M Q4 '24 — Net Income: 1.3B Q1 '25 — Revenue: 2.4B Q1 '25 — Operating Cash Flow: 367M Q1 '25 — Free Cash Flow: 363M Q1 '25 — Net Income: -682M Q2 '25 — Revenue: 2.7B Q2 '25 — Operating Cash Flow: 428M Q2 '25 — Free Cash Flow: 422M Q2 '25 — Net Income: 906M Q3 '25 — Revenue: 2.8B Q3 '25 — Operating Cash Flow: 513M Q3 '25 — Free Cash Flow: 507M Q3 '25 — Net Income: 264M Q4 '25 — Revenue: 3.7B Q4 '25 — Operating Cash Flow: 725M Q4 '25 — Free Cash Flow: 715M Q4 '25 — Net Income: 743M Q1 '26 — Revenue: 3.2B Q1 '26 — Operating Cash Flow: 481M Q1 '26 — Free Cash Flow: 476M Q1 '26 — Net Income: -581M Q2 '26 — Revenue: 3.6B Q2 '26 — Operating Cash Flow: 658M Q2 '26 — Free Cash Flow: 654M Q2 '26 — Net Income: 1.5B 0 900M 1.8B 2.7B 3.6B 4.5B
Q2 '24 Q4 '24 Q2 '25 Q4 '25 Q2 '26
Revenue Operating Cash Flow Free Cash Flow Net Income

How it scores

For a valuation multiple, the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

5.7
Capex / sales 0.19%
DSO 12.4 days
SG&A / sales 3.7%
OCF / EBIT 1.3×
SBC / sales 3.6%
Accruals -3.1%
Asset turnover 0.92×
Profit margin 14.5%
ROCE 14.2%
Gross margin 47.8%
OE margin 14.1%
OCF margin 17.9%
FCF margin 17.7%
Adj. EBITDA margin 17.7%
ROA 13.3%
Oper. margin 13.9%
EBITDA margin 14.1%
ROIC 18.8%
ROE 15.2%

19 of 19 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

2.3
PEG 1.1×
P/B 14.6×
P/C 37.3×
EV/GP 28.4×
FCF yield 1.3%
Shareholder yield 1.0%
EV/OE 96.1×
EV/EBIT 97.4×
Fwd P/E 74.4×
P/E 95.8×
EV/Sales 13.5×

10 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

5.3
Revenue growth in the worst year on record 21.4%
Gross margin stability across years 2.0 pp
Prepaid revenue growth 12.4%
Cash-flow margin stability 6.9 pp
RPO / sales 0.025×

5 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

9.5
Current ratio 6.9×
Debt / Eq 0.0×
Debt payback 0.0 yr
Equity / Assets 87.7%
Interest cover 1844.0×
Net debt / Eq 0.0×
Payout 0.0%
Quick ratio 5.3×
ND/EBITDA 0.028
Retained / assets 26.1%
F-score 5.6 pts

12 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

5.6
Operating margin trend 8.2
Most recent margin move 4.5
EPS next Y +65.0%
EBIT Y/Y +48.5%
Sales Q/Q +33.7%
Sales/sh Y/Y +32.2%
Gross profit Y/Y +24.2%
Shares change +0.26%
Sales CAGR 4Y +25.8%
EPS Y/Y -18.0%
EPS CAGR 4Y -20.0%

11 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.

Companies of a similar size

The nearest by market value among the companies read here whose shares are quoted in USD. Size alone: nothing here says they are in the same business.

CRM Salesforce, Inc.191.66B ADI Analog Devices, Inc.190.72B GILD GILEAD SCIENCES, INC.187.15B DE DEERE FUNDING CANADA Corp186.38B DIS WALT DISNEY CO/183.29B IFED UBS AG180.96B TMUS T-MOBILE US, INC.177.45B ABT ABBOTT LABORATORIES176.43B