A Business at a Glance
0 of 5 daily views used (5 remaining). Sign up free for 10 daily views, or try AAPL for a full preview.
SHOPIFY INC.
SHOP
$149.0B
Mkt Cap
$113.75
+1.56%
SHOPIFY INC. (SHOP) has a current P/E ratio of 121.0, compared to its historical median P/E of 69.8. The stock is currently considered Expensive based on its historical valuation range.
SHOPIFY INC. (SHOP) has a 5-year average return on invested capital (ROIC) of 4.9%. This is below average and may indicate limited pricing power.
SHOPIFY INC. (SHOP) has a market capitalization of $148.3B. It is classified as a large-cap stock.
SHOPIFY INC. (SHOP) does not currently pay a regular dividend.
Based on historical P/E analysis, SHOPIFY INC. (SHOP) appears expensive. The current P/E of 121.0 is 73% above its historical median of 69.8. The estimated fair value CAGR (P/E method) is 70.7%.
SHOPIFY INC. (SHOP) operates in the Services-Prepackaged Software industry, within the Technology sector.
SHOPIFY INC. (SHOP) reported annual revenue of $11.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Shopify provides essential internet infrastructure for commerce. Shopify's all-in-one platform makes it easier to start, run and grow a business, powering sales online, in store, and everywhere in between. Shopify's mission is to make commerce better for everyone with a platform and services that are engineered for speed, customization, reliability and security, while delivering a better shopping experience for consumers everywhere. Shopify's business is designed to empower our merchants by offering a comprehensive, multi-channel commerce platform that supports their business as it grows. As owners and operators, merchants set their course, while Shopify offers them the tools to seamlessly manage, market and sell their products across various sales channels, including online storefronts, physical retail spaces, AI platforms, social media and more.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2015 |
|---|---|---|---|---|---|---|
| Revenue | 12.4B | 11.6B | 8.9B | 7.1B | 5.6B | 205M |
| Net Income | 1.3B | 1.2B | 2.0B | 132M | -3.5B | -19M |
| EPS | $1.02 | $0.94 | $1.55 | $0.10 | $-2.73 | $-0.30 |
| Free Cash Flow | 2.1B | 2.0B | 1.6B | 905M | -186M | -769K |
| ROIC | 19.7% | 16.3% | 16.0% | 1.4% | - | -14.3% |
| Gross Margin | 48.0% | 48.1% | 50.4% | 49.8% | 49.2% | 54.1% |
| Debt/Equity | 0.00 | 0.00 | 0.10 | 0.10 | - | 0.25 |
| Dividends/Share | $0.00 | - | - | - | $0.00 | - |
| Operating Income | 1.6B | 1.5B | 1.1B | -1.4B | -822M | -18M |
| Operating Margin | 13.3% | 12.7% | 12.1% | -20.1% | -14.7% | -8.7% |
| ROE | 10.7% | 9.8% | 19.6% | 1.5% | - | -14.3% |
| Shares Outstanding | 1,303M | 1,310M | 1,303M | 1,320M | 1,267M | 63M |
| Metric | 2013 | 2014 | 2015 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 50M | 105M | 205M | 5.6B | 7.1B | 8.9B | 11.6B | 12.4B |
| Gross Margin | 73.1% | 58.8% | 54.1% | 49.2% | 49.8% | 50.4% | 48.1% | 48.0% |
| R&D | 14M | 26M | 40M | 1.5B | 1.7B | 1.4B | 1.5B | 1.6B |
| SG&A | 4.0M | 12M | 19M | 708M | 491M | 410M | 471M | 477M |
| EBIT | -4.3M | -22M | -18M | -822M | -1.4B | 1.1B | 1.5B | 1.6B |
| Op. Margin | -8.5% | -20.6% | -8.7% | -14.7% | -20.1% | 12.1% | 12.7% | 13.3% |
| Net Income | -4.8M | -22M | -19M | -3.5B | 132M | 2.0B | 1.2B | 1.3B |
| Net Margin | -9.6% | -21.2% | -9.2% | -61.8% | 1.9% | 22.7% | 10.7% | 10.8% |
| Non-Recurring | -73K | -100K | 0 | 81M | 1.4B | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | N/A | -29.1% | -14.3% | N/A | 1.4% | 16.0% | 16.3% | 19.7% |
| ROE | N/A | -29.1% | -14.3% | N/A | 1.5% | 19.6% | 9.8% | 10.7% |
| ROA | N/A | -46.7% | -11.1% | N/A | 2.3% | 16.0% | 8.5% | 9.4% |
| Cash Flow | ||||||||
| Op. Cash Flow | 1.4M | -801K | 16M | -136M | 944M | 1.6B | 2.0B | 2.1B |
| Free Cash Flow | -2.1M | -21M | -769K | -186M | 905M | 1.6B | 2.0B | 2.1B |
| Owner Earnings | -1.8M | -9.3M | 353K | -778M | 259M | 1.2B | 1.6B | 1.6B |
| CapEx | 3.5M | 21M | 17M | 50M | 39M | 19M | 26M | 27M |
| Maint. CapEx | 1.8M | 4.7M | 7.2M | 93M | 70M | 36M | 31M | 30M |
| Growth CapEx | 1.7M | 16M | 9.3M | 0 | 0 | 0 | 0 | 0 |
| D&A | 1.8M | 4.7M | 7.2M | 93M | 70M | 36M | 31M | 30M |
| CapEx/OCF | N/A | N/A | 104.9% | N/A | 4.1% | 1.2% | 1.3% | 1.3% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | 0.0% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.5M | 3.9M | 8.2M | 549M | 615M | 430M | 449M | 467M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||||
| Net Debt | N/A | N/A | N/A | N/A | -4.1B | -4.4B | -5.8B | -5.7B |
| Cash & Equiv. | 84M | 42M | 110M | 1.6B | 1.4B | 1.5B | 1.5B | 5.7B |
| Long-Term Debt | N/A | N/A | N/A | N/A | 916M | 0 | N/A | N/A |
| Debt/Equity | N/A | 0.41 | 0.25 | N/A | 0.10 | 0.10 | 0.00 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | -822.0 | -1418.0 | 1075.0 | 1468.0 | 1468.0 |
| Equity | N/A | 68M | 195M | N/A | 9.1B | 11.6B | 13.5B | 12.5B |
| Total Assets | N/A | 95M | 244M | N/A | 11.3B | 13.9B | 15.2B | 14.1B |
| Total Liabilities | N/A | 27M | 48M | 28M | 2.2B | 2.4B | 1.7B | 1.0B |
| Intangibles | N/A | 2.7M | 5.8M | N/A | 29M | 22M | 30M | 28M |
| Retained Earnings | N/A | -29M | -48M | N/A | -390M | 1.6B | 2.9B | 2.3B |
| Working Capital | N/A | 49M | 165M | N/A | 5.4B | 5.3B | 6.9B | 7.1B |
| Current Assets | 725K | 68M | 202M | N/A | 6.3B | 7.3B | 8.3B | 8.5B |
| Current Liabilities | N/A | 20M | 37M | N/A | 898M | 2.0B | 1.4B | 1.4B |
| Per Share Data | ||||||||
| EPS | -0.13 | -0.57 | -0.30 | -2.73 | 0.10 | 1.55 | 0.94 | 1.02 |
| Owner EPS | -0.05 | -0.24 | 0.01 | -0.61 | 0.20 | 0.88 | 1.19 | 1.27 |
| Book Value | N/A | 1.73 | 3.12 | N/A | 6.87 | 8.87 | 10.29 | 9.59 |
| Cash Flow/Share | 0.04 | -0.02 | 0.25 | -0.11 | 0.72 | 1.24 | 1.55 | 1.04 |
| Dividends/Share | 0.00 | N/A | N/A | 0.00 | N/A | N/A | N/A | 0.00 |
| Shares Out. | 37.2M | 39.1M | 62.6M | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 791.1 | 69.8 | 181.7 | 111.8 |
| P/FCF | N/A | N/A | N/A | N/A | 115.4 | 88.2 | 111.5 | 69.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 86.5 |
| Price/Book | N/A | N/A | 8.0 | N/A | 11.5 | 12.2 | 16.6 | 11.9 |
| Price/Sales | N/A | N/A | 20.6 | N/A | 10.5 | 11.4 | 14.3 | 12.0 |
| FCF Yield | N/A | N/A | -0.0% | N/A | 0.9% | 1.1% | 0.9% | 1.4% |
| Market Cap | 0 | N/A | 1.6B | 0 | 104.4B | 140.9B | 223.7B | 148.3B |
| Avg. Price | 0.00 | N/A | 3.07 | 0.00 | 55.94 | 77.72 | 126.15 | 113.75 |
| Year-End Price | 0.00 | N/A | 2.48 | 0.00 | 79.11 | 108.18 | 170.83 | 113.75 |
SHOPIFY INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
SHOPIFY INC. trades at 121.0x trailing earnings, compared to its 15-year median P/E of 69.8x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 69.5x vs a median of 88.2x. The company's 5-year average ROIC is 4.9% with a gross margin of 50.3%. At current prices, the estimated annualized return to fair value is +24.0%.
SHOPIFY INC. (SHOP) has a net profit margin of 10.7%. This is a healthy margin.
SHOPIFY INC. (SHOP) generated $2.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SHOPIFY INC. (SHOP) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
SHOPIFY INC. (SHOP) reported earnings per share (EPS) of $0.94 in its most recent fiscal year.
SHOPIFY INC. (SHOP) has a return on equity (ROE) of 9.8%. This indicates moderate shareholder returns.
SHOPIFY INC. (SHOP) has a 5-year average gross margin of 50.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 7 years of financial data for SHOPIFY INC. (SHOP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SHOPIFY INC. (SHOP) has a book value per share of $10.29, based on its most recent annual SEC filing.