Comprehensive Stock Comparison
Compare PSQ Holdings, Inc. (PSQH) vs Shopify Inc. (SHOP) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | PSQH | 308.0% revenue growth vs SHOP's 30.1% |
| Quality / Margins | SHOP | 10.7% net margin vs PSQH's -178.9% |
| Stability / Safety | PSQH | Beta 1.98 vs SHOP's 2.23 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | SHOP | +7.8% vs PSQH's -75.1% |
| Efficiency (ROA) | SHOP | 8.1% ROA vs PSQH's -77.4%, ROIC 9.4% vs -481.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
PSQ Holdings operates a platform connecting American consumers with values-aligned businesses across local communities. It generates revenue primarily through its consumer products division — selling diapers, wipes, and other essentials — which accounts for the vast majority of sales, supplemented by platform subscription fees from businesses. The company's moat lies in its curated network of over 70,000 businesses and 1.6 million members who share common values, creating a trusted ecosystem that drives both product sales and platform engagement.
Shopify is a comprehensive commerce platform that enables businesses of all sizes to create online stores, manage sales across multiple channels, and handle operations like payments, shipping, and inventory. It generates revenue primarily through subscription fees for its platform tiers — which account for about 30% of revenue — and merchant solutions like payment processing, shipping, and capital advances that make up the remaining 70%. The company's key advantage is its integrated ecosystem that combines easy-to-use store creation tools with a vast app marketplace and fulfillment network, creating high switching costs for merchants as they grow their businesses.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
SHOP leads in 2 of 6 categories (Profitability & Efficiency, Total Returns). PSQH leads in 1 (Valuation Metrics). 2 tied.
Financial Metrics (TTM)
SHOP is the larger business by revenue, generating $11.6B annually — 454.1x PSQH's $25M. SHOP is the more profitable business, keeping 10.7% of every revenue dollar as net income compared to PSQH's -178.9%. On growth, PSQH holds the edge at +37.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PSQHPSQ Holdings, Inc. | SHOPShopify Inc. |
|---|---|---|
| RevenueTrailing 12 months | $25M | $11.6B |
| EBITDAEarnings before interest/tax | -$36M | $1.5B |
| Net IncomeAfter-tax profit | -$46M | $1.2B |
| Free Cash FlowCash after capex | -$20M | $2.0B |
| Gross MarginGross profit ÷ Revenue | +59.1% | +48.1% |
| Operating MarginEBIT ÷ Revenue | -163.2% | +12.7% |
| Net MarginNet income ÷ Revenue | -178.9% | +10.7% |
| FCF MarginFCF ÷ Revenue | -78.8% | +17.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +37.3% | +30.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +36.6% | -42.0% |
Valuation Metrics
| Metric | PSQHPSQ Holdings, Inc. | SHOPShopify Inc. |
|---|---|---|
| Market CapShares × price | $2M | $157.4B |
| Enterprise ValueMkt cap + debt − cash | -$2M | $156.1B |
| Trailing P/EPrice ÷ TTM EPS | -0.37x | 128.44x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 65.90x |
| PEG RatioP/E ÷ EPS growth rate | — | 4.38x |
| EV / EBITDAEnterprise value multiple | — | 104.11x |
| Price / SalesMarket cap ÷ Revenue | 0.09x | 13.62x |
| Price / BookPrice ÷ Book value/share | 0.79x | 11.69x |
| Price / FCFMarket cap ÷ FCF | — | 78.44x |
Profitability & Efficiency
SHOP delivers a 9.1% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $-3 for PSQH. SHOP carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to PSQH's 1.21x. On the Piotroski fundamental quality scale (0–9), SHOP scores 6/9 vs PSQH's 5/9, reflecting solid financial health.
| Metric | PSQHPSQ Holdings, Inc. | SHOPShopify Inc. |
|---|---|---|
| ROE (TTM)Return on equity | -3.1% | +9.1% |
| ROA (TTM)Return on assets | -77.4% | +8.1% |
| ROICReturn on invested capital | -4.8% | +9.4% |
| ROCEReturn on capital employed | -127.3% | +11.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 1.21x | 0.01x |
| Net DebtTotal debt minus cash | -$4M | -$1.4B |
| Cash & Equiv.Liquid assets | $36M | $1.5B |
| Total DebtShort + long-term debt | $33M | $188M |
| Interest CoverageEBIT ÷ Interest expense | -11.55x | — |
Total Returns (with DRIP)
A $10,000 investment in SHOP five years ago would be worth $9,216 today (with dividends reinvested), compared to $687 for PSQH. Over the past 12 months, SHOP leads with a +7.8% total return vs PSQH's -75.1%. The 3-year compound annual growth rate (CAGR) favors SHOP at 43.2% vs PSQH's -59.7% — a key indicator of consistent wealth creation.
| Metric | PSQHPSQ Holdings, Inc. | SHOPShopify Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -38.1% | -23.2% |
| 1-Year ReturnPast 12 months | -75.1% | +7.8% |
| 3-Year ReturnCumulative with dividends | -93.5% | +193.5% |
| 5-Year ReturnCumulative with dividends | -93.1% | -7.8% |
| 10-Year ReturnCumulative with dividends | -93.1% | +5294.6% |
| CAGR (3Y)Annualised 3-year return | -59.7% | +43.2% |
Risk & Volatility
PSQH is the less volatile stock with a 1.98 beta — it tends to amplify market swings less than SHOP's 2.23 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SHOP currently trades 66.3% from its 52-week high vs PSQH's 23.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PSQHPSQ Holdings, Inc. | SHOPShopify Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.98x | 2.23x |
| 52-Week HighHighest price in past year | $2.88 | $182.19 |
| 52-Week LowLowest price in past year | $0.62 | $69.84 |
| % of 52W HighCurrent price vs 52-week peak | +23.0% | +66.3% |
| RSI (14)Momentum oscillator 0–100 | 38.2 | 48.7 |
| Avg Volume (50D)Average daily shares traded | 1.8M | 10.0M |
Analyst Outlook
| Metric | PSQHPSQ Holdings, Inc. | SHOPShopify Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | $165.16 |
| # AnalystsCovering analysts | — | 63 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jul 21 | Feb 26 | Change |
|---|---|---|---|
| PSQ Holdings, Inc. (PSQH) | 100 | 8.19 | -91.8% |
| Shopify Inc. (SHOP) | 100 | 85.92 | -14.1% |
Shopify Inc. (SHOP) returned -8% over 5 years vs PSQ Holdings, Inc. (PSQH)'s -93%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| PSQ Holdings, Inc. (PSQH) | $8843.00 | $23M | +262248.0% |
| Shopify Inc. (SHOP) | $389M | $11.6B | +2868.2% |
Shopify Inc.'s revenue grew from $389M (2016) to $11.6B (2025) — a 45.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| PSQ Holdings, Inc. (PSQH) | -258.6% | -2.5% | +99.0% |
| Shopify Inc. (SHOP) | -9.1% | 10.7% | +217.3% |
Shopify Inc.'s net margin went from -9% (2016) to 11% (2025).
Chart 4P/E Ratio History — 4 Years
| Stock | 2020 | 2025 | Change |
|---|---|---|---|
| Shopify Inc. (SHOP) | 435.4 | 171.2 | -60.7% |
Shopify Inc. has traded in a 61x–435x P/E range over 4 years; current trailing P/E is ~128x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| PSQ Holdings, Inc. (PSQH) | 0.17 | -1.8 | -1158.8% |
| Shopify Inc. (SHOP) | -0.04 | 0.94 | +2332.8% |
Shopify Inc.'s EPS grew from $-0.04 (2016) to $0.94 (2025).
Chart 6Free Cash Flow — 5 Years
PSQ Holdings, Inc. generated $-34M FCF in 2024 (-3406% vs 2021). Shopify Inc. generated $2B FCF in 2025 (+314% vs 2021).
PSQH vs SHOP: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is PSQH or SHOP a better buy right now?
Shopify Inc. (SHOP) offers the better valuation at 128.4x trailing P/E (65.9x forward), making it the more compelling value choice. Analysts rate Shopify Inc. (SHOP) a "Buy" — based on 63 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — PSQH or SHOP?
Over the past 5 years, Shopify Inc. (SHOP) delivered a total return of -7.8%, compared to -93.1% for PSQ Holdings, Inc. (PSQH). A $10,000 investment in SHOP five years ago would be worth approximately $9K today (assuming dividends reinvested). Over 10 years, the gap is even starker: SHOP returned +52.9% versus PSQH's -93.1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — PSQH or SHOP?
By beta (market sensitivity over 5 years), PSQ Holdings, Inc. (PSQH) is the lower-risk stock at 1.98β versus Shopify Inc.'s 2.23β — meaning SHOP is approximately 12% more volatile than PSQH relative to the S&P 500. On balance sheet safety, Shopify Inc. (SHOP) carries a lower debt/equity ratio of 1% versus 121% for PSQ Holdings, Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — PSQH or SHOP?
Shopify Inc. (SHOP) is the more profitable company, earning 10.7% net margin versus -248.7% for PSQ Holdings, Inc. — meaning it keeps 10.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SHOP leads at 12.7% versus -240.1% for PSQH. At the gross margin level — before operating expenses — PSQH leads at 60.7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — PSQH or SHOP?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is PSQH or SHOP better for a retirement portfolio?
For long-horizon retirement investors, Shopify Inc. (SHOP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. PSQ Holdings, Inc. (PSQH) carries a higher beta of 1.98 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (SHOP: +52.9%, PSQH: -93.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between PSQH and SHOP?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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