Shopify Inc. (SHOP)
Shopify Inc., a commerce technology company, provides tools to start, scale, market, and run a business of various sizes in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The Company offers Shopify platform that enables merchants to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics, and reporting and access financing for running their business across all of their sales channels, including web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces. It also provides Shopify Payments, a fully integrated payment processing service that allows merchants to accept and process payment cards online and offline. In addition, the company engages in the sale of themes and apps; shipping labels through Shopify Shipping; point-of-sale hardware; advertising on the Shopify App Store; and Shop Campaigns for buyer acquisitions, as well as registration of domain names. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is based in Ottawa, Canada.
- Symbol
- SHOP
- Exchange
- Nasdaq
- Sector
- Technology
- Industry
- Software - Application
- Market cap
- $193.10B
- 52 week range
- 94 - 182.19
Valuation
- Share price
- $149.09 (close of 2026-10-01)
- P/E (TTM)
- 100.06x
- Price to book
- 15.22x
- Price to free cash flow
- 82.10x
- Enterprise value
- $191.63B
- Book value per share
- $9.79
Price performance
| Period | Change |
|---|---|
| 1 day | +0.53% |
| 5 days | +2.71% |
| 1 month | +6.63% |
| 3 months | +22.58% |
| 6 months | +25.79% |
| Year to date | -7.38% |
| 1 year | -0.32% |
| 3 years | +173.20% |
| 5 years | +10.37% |
| 10 years | +3375.29% |
| All time | +8670.00% |
Members of Congress who disclosed SHOP trades
Jonathan Jackson · Josh Gottheimer · Markwayne Mullin · Lisa McClain · Robert Bresnahan
Super investors holding SHOP
Polen Capital Mgmt (Polen Capital Management LLC) · Henry Ellenbogen (Durable Capital Partners LP)
Profitability and growth
- Return on equity
- 9.14%
- Return on invested capital
- 9.82%
- Return on assets
- 8.10%
- Return on capital employed
- 10.64%
- Gross margin
- 48.07%
- Net margin
- 10.65%
- EBITDA margin
- 12.97%
- Revenue growth
- 30.14%
- Net income growth
- -39.03%
- Free cash flow growth
- 25.67%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 1.22%
- Current ratio
- 5.35x
- Net debt to EBITDA
- -0.62x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $11.56B
- Cost of revenue
- $6.00B
- Gross profit
- $5.55B
- EBITDA
- $1.50B
- Net income
- $1.23B
- Earnings per share
- $0.95
- Research and development
- $1.54B
- Shares outstanding
- 1.30B
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $11.56B | $5.55B | $1.23B | $0.95 |
| 2024-12-31 | $8.88B | $4.47B | $2.02B | $1.57 |
| 2023-12-31 | $7.06B | $3.52B | $132.00M | $0.10 |
| 2022-12-31 | $5.60B | $2.75B | -$3.46B | $-2.73 |
| 2021-12-31 | $4.61B | $2.48B | $2.91B | $2.34 |
| 2020-12-31 | $2.93B | $1.54B | $319.51M | $0.27 |
| 2019-12-31 | $1.58B | $865.64M | -$124.84M | $-0.11 |
| 2018-12-31 | $1.07B | $596.27M | -$64.55M | $-0.06 |
| 2017-12-31 | $673.30M | $380.25M | -$39.99M | $-0.04 |
| 2016-12-31 | - | - | -$35.35M | $-0.04 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 48.07% | 10.65% | 9.14% | 9.82% |
| 2024-12-31 | 50.36% | 22.74% | 17.47% | 7.74% |
| 2023-12-31 | 49.79% | 1.87% | 1.46% | -16.11% |
| 2022-12-31 | 49.18% | -61.79% | -42.00% | -8.25% |
| 2021-12-31 | 53.80% | 63.20% | 26.18% | 1.51% |
| 2020-12-31 | 52.62% | 10.91% | 4.99% | 2.34% |
| 2019-12-31 | 54.85% | -7.91% | -4.14% | -5.61% |
| 2018-12-31 | 55.56% | -6.01% | -3.09% | -5.39% |
| 2017-12-31 | 56.48% | -5.94% | -4.00% | -5.72% |
| 2016-12-31 | - | - | -8.61% | -11.38% |
Cash and debt by year
| Period end | Cash |
|---|---|
| 2025-12-31 | $1.54B |
| 2024-12-31 | $1.50B |
| 2023-12-31 | $1.41B |
| 2022-12-31 | $1.65B |
| 2021-12-31 | $2.50B |
| 2020-12-31 | $2.70B |
| 2019-12-31 | $649.92M |
| 2018-12-31 | $410.68M |
| 2017-12-31 | $141.68M |
| 2016-12-31 | $84.01M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $2.01B | $449.00M |
| 2024-12-31 | $1.60B | $430.00M |
| 2023-12-31 | $905.00M | $615.00M |
| 2022-12-31 | -$186.00M | $549.00M |
| 2021-12-31 | $484.92M | $330.76M |
| 2020-12-31 | $383.23M | $246.94M |
| 2019-12-31 | $13.86M | $158.46M |
| 2018-12-31 | -$18.63M | $95.72M |
| 2017-12-31 | -$12.14M | $49.16M |
| 2016-12-31 | -$9.76M | $23.10M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $0.33
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-08-05 | Jun/2026 | $0.28 |
| 2026-05-05 | - | - |
| 2026-02-11 | - | - |
| 2025-11-04 | - | - |
| 2025-08-06 | - | - |
| 2025-05-08 | - | - |
| 2025-02-11 | - | - |
| 2024-11-12 | - | - |
Filings and sources
- Company website
- shopify.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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