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Shopify Inc.(SHOP)Earnings, Financials & Key Ratios
SHOP•NASDAQ
$107.62
$139.72B mkt cap·114.5× P/E·Price updated May 6, 2026
AboutShopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. 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 headquartered in Ottawa, Canada.Show more
- Revenue$11.56B+30.1%
- EBITDA$1.5B+34.9%
- Net Income$1.23B-39.0%
- EPS (Diluted)0.94-39.4%
- Gross Margin48.07%-4.5%
- EBITDA Margin12.97%+3.7%
- Operating Margin12.7%+4.9%
- Net Margin10.65%-53.1%
- ROE9.84%-49.8%
- ROIC9.45%+17.1%
- Debt/Equity0.01-85.7%
SHOP Key Insights
Shopify Inc. (SHOP) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Strong 5Y profit CAGR of 31.0%
- ✓FCF machine: 17.4% free cash flow margin
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 31.6%
✗Weaknesses
- ✗Trading more than 30% below 52-week high
- ✗Expensive at 10.4x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
SHOP Price & Volume
Shopify Inc. (SHOP) stock price & volume — 10-year historical chart
Loading chart...
SHOP Growth Metrics
Shopify Inc. (SHOP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years49.64%
5 Years31.58%
3 Years27.31%
TTM-1.95%
Profit CAGR
10 Years-
5 Years30.96%
3 Years-
TTM-17.27%
EPS CAGR
10 Years-
5 Years29.31%
3 Years-
TTM-17.74%
Return on Capital
10 Years-2.57%
5 Years0.49%
3 Years2.35%
Last Year11.4%
SHOP Recent Earnings
Shopify Inc. (SHOP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
May 5, 2026EPS
$0.33
Est $0.33
+2.1%
Revenue
$3.1B
Est $3.0B
+2.2%
Q1 2026
Feb 11, 2026EPS
$0.46
Est $0.51
-9.1%
Revenue
$3.6B
Est $3.6B
+1.0%
Q4 2025
Nov 4, 2025EPS
$0.34
Est $0.34
+1.0%
Revenue
$2.8B
Est $2.8B
+3.4%
Q3 2025
Aug 6, 2025EPS
$0.35
Est $0.29
+20.2%
Revenue
$2.7B
Est $2.6B
+3.9%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.33vs $0.33+2.1% | $3.1Bvs $3.0B+2.2% |
| Q1 2026 | Feb 11, 2026 | $0.46vs $0.51-9.1% | $3.6Bvs $3.6B+1.0% |
| Q4 2025 | Nov 4, 2025 | $0.34vs $0.34+1.0% | $2.8Bvs $2.8B+3.4% |
| Q3 2025 | Aug 6, 2025 | $0.35vs $0.29+20.2% | $2.7Bvs $2.6B+3.9% |
Based on last 12 quarters of dataView full earnings history →
SHOP Peer Comparison
Shopify Inc. (SHOP) competitors in E-commerce platforms and retail enablement — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 WIX | 4.23B | 77.03 | 87.53 | 13.2% | 2.54% | 13.59% | ||
 GDDY | 11.67B | 87.49 | 14.04 | 8.26% | 17.32% | 366.9% | 13.5% | 17.96 |
 CART | 11.61B | 43.74 | 27.68 | 11.05% | 14.15% | 14.08% | 5.36% | 0.01 |
 PYPL | 42.76B | 46.48 | 8.59 | 4.32% | 15.78% | 25.08% | 13.01% | 0.49 |
 BILL | 3.79B | 38.32 | 166.61 | 13.36% | -1.56% | -0.63% | 8.17% | 0.45 |
 GLBE | 5.35B | 31.61 | 81.05 | 27.82% | 7.1% | 7.32% | 5.25% | 0.04 |
 KVYO | 7.11B | 23.34 | -212.14 | 31.63% | -0.66% | -0.75% | 2.67% | 0.10 |
 AMZN | 2.94T | 273.52 | 38.15 | 12.38% | 12.22% | 23.34% | 0.26% | 0.37 |
Compare SHOP vs Peers
Shopify Inc. (SHOP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SHOP Income Statement
Shopify Inc. (SHOP) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 673.3M | 1.07B | 1.58B | 2.93B | 4.61B | 5.6B | 7.06B | 8.88B | 11.56B | 9.2B |
| Revenue Growth % | 72.94% | 59.4% | 47.05% | 85.63% | 57.43% | 21.43% | 26.07% | 25.78% | 30.14% | -1.95% |
| Cost of Goods Sold | 293.05M | 476.96M | 712.53M | 1.39B | 2.13B | 2.85B | 3.54B | 4.41B | 6B | 4.81B |
| COGS % of Revenue | 43.52% | 44.44% | 45.15% | 47.38% | 46.2% | 50.82% | 50.21% | 49.64% | 51.93% | - |
| Gross Profit | 380.25M▲ 0% | 596.27M▲ 56.8% | 865.64M▲ 45.2% | 1.54B▲ 78.1% | 2.48B▲ 61.0% | 2.75B▲ 11.0% | 3.52B▲ 27.6% | 4.47B▲ 27.2% | 5.55B▲ 24.2% | 5.93B▲ 0% |
| Gross Margin % | 56.48% | 55.56% | 54.85% | 52.62% | 53.8% | 49.18% | 49.79% | 50.36% | 48.07% | 64.51% |
| Gross Profit Growth % | 81.51% | 56.81% | 45.18% | 78.08% | 60.95% | 11% | 27.63% | 27.23% | 24.22% | - |
| Operating Expenses | 429.41M | 688.19M | 1.01B | 1.45B | 2.21B | 3.58B | 4.93B | 3.4B | 4.09B | 4.29B |
| OpEx % of Revenue | 63.78% | 64.12% | 63.79% | 49.54% | 47.97% | 63.86% | 69.87% | 38.25% | 35.37% | - |
| Selling, General & Admin | 293.41M | 457.51M | 626.61M | 847.39M | 1.28B | 1.94B | 1.71B | 1.8B | 2.13B | 2.23B |
| SG&A % of Revenue | 43.58% | 42.63% | 39.7% | 28.93% | 27.68% | 34.61% | 24.24% | 20.3% | 18.47% | - |
| Research & Development | 136M | 230.67M | 355.01M | 552.13M | 854.38M | 1.5B | 1.73B | 1.37B | 1.54B | 1.6B |
| R&D % of Revenue | 20.2% | 21.49% | 22.5% | 18.85% | 18.53% | 26.84% | 24.5% | 15.39% | 13.29% | - |
| Other Operating Expenses | -199K | -410K | 25.17M | 51.85M | 81.72M | 135M | 1.49B | 227M | 417M | 4M |
| Operating Income | -49.16M▲ 0% | -91.92M▼ 87.0% | -141.15M▼ 53.6% | 90.15M▲ 163.9% | 268.64M▲ 198.0% | -822M▼ 406.0% | -1.42B▼ 72.5% | 1.07B▲ 175.8% | 1.47B▲ 36.6% | 1.65B▲ 0% |
| Operating Margin % | -7.3% | -8.56% | -8.94% | 3.08% | 5.83% | -14.68% | -20.09% | 12.11% | 12.7% | 17.91% |
| Operating Income Growth % | -32.27% | -86.99% | -53.55% | 163.87% | 197.99% | -405.98% | -72.51% | 175.81% | 36.56% | - |
| EBITDA | -25.77M | -64.87M | -105.5M | 160.21M | 334.95M | -729M | -1.35B | 1.11B | 1.5B | 1.67B |
| EBITDA Margin % | -3.83% | -6.04% | -6.68% | 5.47% | 7.26% | -13.02% | -19.09% | 12.51% | 12.97% | 18.16% |
| EBITDA Growth % | -11.11% | -151.67% | -62.63% | 251.87% | 109.07% | -317.64% | -84.91% | 182.42% | 34.92% | 36.22% |
| D&A (Non-Cash Add-back) | 23.38M | 27.05M | 35.65M | 70.06M | 66.31M | 93M | 70M | 36M | 31M | 23M |
| EBIT | -49.16M | -91.92M | -95.81M | 248.94M | 3.14B | -687M | 74M | 1.3B | 1.47B | 1.19B |
| Net Interest Income | 7.85M | 29.44M | 48.18M | 15.11M | 11.86M | 75M | 241M | 308M | 331M | 266M |
| Interest Income | 7.85M | 29.44M | 48.18M | 24.67M | 15.36M | 76M | 241M | 308M | 331M | 341M |
| Interest Expense | 0 | 0 | 0 | 9.56M | 3.46M | 1.15M | 0 | 0 | 0 | 0 |
| Other Income/Expense | 9.16M | 27.37M | 45.33M | 150.21M | 2.87B | -2.8B | 1.6B | 1.15B | 41M | -2M |
| Pretax Income | -39.99M▲ 0% | -64.55M▼ 61.4% | -95.81M▼ 48.4% | 240.36M▲ 350.9% | 3.14B▲ 1206.6% | -3.62B▼ 215.4% | 185M▲ 105.1% | 2.23B▲ 1104.3% | 1.51B▼ 32.3% | 1.65B▲ 0% |
| Pretax Margin % | -5.94% | -6.01% | -6.07% | 8.21% | 68.1% | -64.7% | 2.62% | 25.09% | 13.06% | 17.89% |
| Income Tax | 0 | 0 | 29.03M | -79.14M | 225.93M | -163M | 53M | 209M | 278M | 313M |
| Effective Tax Rate % | 0% | 0% | -30.29% | -32.93% | 7.19% | 4.5% | 28.65% | 9.38% | 18.42% | 19.03% |
| Net Income | -39.99M▲ 0% | -64.55M▼ 61.4% | -124.84M▼ 93.4% | 319.51M▲ 355.9% | 2.91B▲ 812.2% | -3.46B▼ 218.7% | 132M▲ 103.8% | 2.02B▲ 1429.5% | 1.23B▼ 39.0% | 1.33B▲ 0% |
| Net Margin % | -5.94% | -6.01% | -7.91% | 10.91% | 63.2% | -61.79% | 1.87% | 22.74% | 10.65% | 14.48% |
| Net Income Growth % | -13.12% | -61.4% | -93.39% | 355.93% | 812.23% | -218.71% | 103.81% | 1429.55% | -39.03% | -17.27% |
| Net Income (Continuing) | -39.99M | -64.55M | -124.84M | 319.51M | 2.91B | -3.46B | 132M | 2.02B | 1.23B | 1.33B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.04▲ 0% | -0.06▼ 46.2% | -0.11▼ 80.0% | 0.26▲ 336.4% | 2.27▲ 773.1% | -2.73▼ 220.3% | 0.10▲ 103.7% | 1.55▲ 1450.0% | 0.94▼ 39.4% | 1.02▲ 0% |
| EPS Growth % | 0.71% | -46.17% | -80.03% | 336.36% | 773.08% | -220.26% | 103.66% | 1450% | -39.35% | -17.74% |
| EPS (Basic) | -0.04 | -0.06 | -0.11 | 0.27 | 2.32 | -2.73 | 0.10 | 1.56 | 0.95 | - |
| Diluted Shares Outstanding | 957.75M | 1.06B | 1.13B | 1.23B | 1.27B | 1.27B | 1.3B | 1.3B | 1.3B | 1.3B |
| Basic Shares Outstanding | 957.75M | 1.06B | 1.13B | 1.2B | 1.25B | 1.27B | 1.28B | 1.29B | 1.3B | 1.3B |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
SHOP Balance Sheet
Shopify Inc. (SHOP) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 1.03B | 2.13B | 2.74B | 6.88B | 8.54B | 6.05B | 6.28B | 7.25B | 8.3B | 6.19B |
| Cash & Short-Term Investments | 938.04M | 1.97B | 2.46B | 6.39B | 7.77B | 5.05B | 5.01B | 5.48B | 5.77B | 5.74B |
| Cash Only | 141.68M | 410.68M | 649.92M | 2.7B | 2.5B | 1.65B | 1.41B | 1.5B | 1.53B | 1.85B |
| Short-Term Investments | 796.36M | 1.56B | 1.81B | 3.68B | 5.27B | 3.4B | 3.6B | 3.98B | 4.23B | 3.9B |
| Accounts Receivable | 69.04M | 133.22M | 240.7M | 421.54M | 667.05M | 857.48M | 1.16B | 1.66B | 2.37B | 449M |
| Days Sales Outstanding | 37.43 | 45.31 | 55.67 | 52.52 | 52.79 | 55.89 | 59.71 | 68.03 | 74.86 | 68.44 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 19M | 26M | 21M | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | 1.96 | 2.15 | 1.28 | 0.4 |
| Other Current Assets | 6.12M | 3.68M | 12.64M | 33.82M | 12.5M | 30M | 7M | 0 | 14M | 0 |
| Total Non-Current Assets | 87.89M | 125.7M | 747.25M | 885.15M | 4.8B | 4.71B | 5.02B | 6.67B | 6.89B | 1.48B |
| Property, Plant & Equipment | 50.36M | 61.61M | 246.17M | 211.48M | 301.91M | 486M | 147M | 140M | 141M | 138M |
| Fixed Asset Turnover | 13.37x | 17.42x | 6.41x | 13.85x | 15.28x | 11.52x | 48.03x | 63.43x | 81.96x | 64.85x |
| Goodwill | 20.32M | 38.02M | 311.87M | 311.87M | 356.53M | 1.84B | 427M | 452M | 491M | 491M |
| Intangible Assets | 17.21M | 26.07M | 167.28M | 135.68M | 138.5M | 390M | 29M | 22M | 30M | 28M |
| Long-Term Investments | 0 | 0 | 2.5M | 173.45M | 3.96B | 1.95B | 4.38B | 6B | 6.16B | 18.32B |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21M | 39M | 90.04M |
| Total Assets | 1.11B▲ 0% | 2.25B▲ 102.5% | 3.49B▲ 54.8% | 7.76B▲ 122.5% | 13.34B▲ 71.8% | 10.76B▼ 19.4% | 11.3B▲ 5.0% | 13.92B▲ 23.2% | 15.19B▲ 9.1% | 14.12B▲ 0% |
| Asset Turnover | 0.60x | 0.48x | 0.45x | 0.38x | 0.35x | 0.52x | 0.62x | 0.64x | 0.76x | 0.62x |
| Asset Growth % | 127% | 102.48% | 54.76% | 122.47% | 71.85% | -19.36% | 5.04% | 23.23% | 9.09% | 64.95% |
| Total Current Liabilities | 94.75M | 138.69M | 316.38M | 438.33M | 702.73M | 856M | 898M | 1.96B | 1.39B | 500M |
| Accounts Payable | 44.33M | 61.27M | 90.52M | 168.72M | 284.01M | 364M | 364M | 360M | 570M | 0 |
| Days Payables Outstanding | 55.22 | 46.89 | 46.37 | 44.37 | 48.65 | 46.68 | 37.48 | 29.81 | 34.67 | 45.15 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 918M | 0 | 179M |
| Deferred Revenue (Current) | 30.69M | 39.18M | 56.69M | 107.81M | 216.79M | 296M | 302M | 283M | 300M | 1.22B |
| Other Current Liabilities | 5.77M | 26.54M | 32.37M | 61.89M | 77.83M | 84M | 58M | 112M | 169M | 0 |
| Current Ratio | 10.82x | 15.35x | 8.67x | 15.69x | 12.15x | 7.07x | 6.99x | 3.71x | 5.96x | 5.96x |
| Quick Ratio | 10.82x | 15.35x | 8.67x | 15.69x | 12.15x | 7.07x | 6.97x | 3.70x | 5.94x | 5.94x |
| Cash Conversion Cycle | - | - | - | - | - | - | 24.19 | 40.37 | 41.47 | 23.69 |
| Total Non-Current Liabilities | 17.71M | 25.33M | 157.36M | 923.85M | 1.5B | 1.66B | 1.33B | 410M | 324M | 1.12B |
| Long-Term Debt | 0 | 0 | 0 | 758.01M | 910.96M | 913M | 916M | 0 | 0 | 0 |
| Capital Lease Obligations | 14.97M | 22.32M | 142.64M | 144.84M | 246.78M | 465M | 217M | 190M | 171M | 547.45M |
| Deferred Tax Liabilities | 1.39M | 1.13M | 8.75M | 0 | 183.43M | 16M | 6M | 73M | 55M | 120.08M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.12B |
| Total Liabilities | 112.46M | 164.02M | 473.75M | 1.36B | 2.21B | 2.52B | 2.23B | 2.37B | 1.72B | 1.62B |
| Total Debt | 16.45M | 24.87M | 151.71M | 912.89M | 1.17B | 1.4B | 1.15B | 1.13B | 188M | 179M |
| Net Debt | -125.22M | -385.81M | -498.21M | -1.79B | -1.33B | -253M | -263M | -372M | -1.35B | -1.67B |
| Debt / Equity | 0.02x | 0.01x | 0.05x | 0.14x | 0.11x | 0.17x | 0.13x | 0.10x | 0.01x | 0.01x |
| Debt / EBITDA | - | - | - | 5.70x | 3.50x | - | - | 1.01x | 0.13x | 0.11x |
| Net Debt / EBITDA | - | - | - | -11.18x | -3.97x | - | - | -0.33x | -0.90x | -0.90x |
| Interest Coverage | - | - | - | 26.03x | 907.49x | -597.39x | - | - | - | - |
| Total Equity | 1B▲ 0% | 2.09B▲ 108.8% | 3.02B▲ 44.2% | 6.4B▲ 112.2% | 11.13B▲ 73.9% | 8.24B▼ 26.0% | 9.07B▲ 10.0% | 11.56B▲ 27.5% | 13.47B▲ 16.6% | 12.5B▲ 0% |
| Equity Growth % | 143.89% | 108.85% | 44.24% | 112.24% | 73.94% | -26% | 10.04% | 27.49% | 16.57% | 85.7% |
| Book Value per Share | 1.05 | 1.98 | 2.67 | 5.18 | 8.74 | 6.51 | 7.00 | 8.88 | 10.32 | 9.59 |
| Total Shareholders' Equity | 1B | 2.09B | 3.02B | 6.4B | 11.13B | 8.24B | 9.07B | 11.56B | 13.47B | 12.5B |
| Common Stock | 1.08B | 2.22B | 3.26B | 6.12B | 8.04B | 8.75B | 9.2B | 9.63B | 10.38B | 9.97B |
| Retained Earnings | -123.2M | -187.76M | -304.22M | 15.29M | 2.94B | -522M | -390M | 1.63B | 2.86B | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 3.44M | -12.22M | 1.05M | 8.77M | -5.97M | -16M | 4M | -10M | 1M | -4M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SHOP Cash Flow Statement
Shopify Inc. (SHOP) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 7.9M | 9.32M | 70.61M | 424.96M | 535.71M | -136M | 944M | 1.62B | 2.03B | 2.03B |
| Operating CF Margin % | 1.17% | 0.87% | 4.47% | 14.51% | 11.62% | -2.43% | 13.37% | 18.2% | 17.59% | - |
| Operating CF Growth % | -43.63% | 18.01% | 657.35% | 501.8% | 26.06% | -125.39% | 794.12% | 71.19% | 25.8% | 98.48% |
| Net Income | -39.99M | -64.55M | -124.84M | 319.51M | 2.91B | -3.46B | 132M | 2.02B | 1.23B | 1.33B |
| Depreciation & Amortization | 23.38M | 27.05M | 35.65M | 70.06M | 66.31M | 93M | 70M | 36M | 31M | 30.13M |
| Stock-Based Compensation | 49.16M | 95.72M | 158.46M | 246.94M | 330.76M | 549M | 615M | 430M | 449M | 347M |
| Deferred Taxes | 0 | 0 | -37.92M | -44.8M | 190.96M | -187M | -1M | 78M | -14M | -18.14M |
| Other Non-Cash Items | 1M | 7.19M | 21.13M | -73.03M | -2.84B | 2.97B | -67M | -781M | 453M | 555.26M |
| Working Capital Changes | -25.65M | -56.09M | 18.14M | -93.72M | -129.64M | -99M | 195M | -166M | -117M | -106.11M |
| Change in Receivables | -50.85M | -83.34M | -56.18M | -29.15M | -307.09M | -128M | 116M | -230M | -360M | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 262M | 0 |
| Cash from Investing | -527.17M | -810.63M | -569.48M | -1.93B | -2.38B | -719M | -1.24B | -1.59B | -1.19B | -258.16M |
| Capital Expenditures | -20.04M | -27.95M | -56.76M | -41.73M | -50.79M | -50M | -39M | -19M | -26M | -27.13M |
| CapEx % of Revenue | 2.98% | 2.6% | 3.6% | 1.42% | 1.1% | 0.89% | 0.55% | 0.21% | 0.22% | - |
| Acquisitions | -15.72M | -19.4M | -265.51M | -11.05M | -709.86M | -2.39B | -395M | -167M | -56M | 1.06M |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -4.22M | -13.6M | -5.64M | -262K | -31.28M | -159M | -559M | -461M | -521M | -659.96M |
| Cash from Financing | 574.83M | 1.07B | 736.35M | 3.56B | 1.65B | 18M | 60M | 61M | -811M | -1.35B |
| Debt Issued (Net) | 0 | 0 | 0 | 907.95M | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 560.06M | 1.04B | 688.01M | 2.58B | 1.54B | 0 | 0 | 58.07M | 0 | 67.72M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -491M |
| Other Financing | 14.77M | 30.49M | 48.34M | 70.81M | 108.59M | 18M | 60M | 2.93M | -811M | -1.42B |
| Net Change in Cash | 57.66M▲ 0% | 269.01M▲ 366.5% | 239.23M▼ 11.1% | 2.05B▲ 758.4% | -200.6M▼ 109.8% | -854M▼ 325.7% | -236M▲ 72.4% | 85M▲ 136.0% | 47M▼ 44.7% | 542.37M▲ 0% |
| Free Cash Flow | -16.36M▲ 0% | -32.22M▼ 96.9% | 8.22M▲ 125.5% | 382.96M▲ 4560.1% | 484.92M▲ 26.6% | -186M▼ 138.4% | 905M▲ 586.6% | 1.6B▲ 76.5% | 2.01B▲ 25.7% | 2.13B▲ 0% |
| FCF Margin % | -2.43% | -3% | 0.52% | 13.07% | 10.51% | -3.32% | 12.82% | 17.98% | 17.37% | 23.14% |
| FCF Growth % | -33.9% | -96.94% | 125.51% | 4560.05% | 26.62% | -138.36% | 586.56% | 76.46% | 25.67% | 23.14% |
| FCF per Share | -0.02 | -0.03 | 0.01 | 0.31 | 0.38 | -0.15 | 0.70 | 1.23 | 1.54 | 1.54 |
| FCF Conversion (FCF/Net Income) | -0.20x | -0.14x | -0.57x | 1.33x | 0.18x | 0.04x | 7.15x | 0.80x | 1.65x | 1.60x |
| Interest Paid | 0 | 0 | 0 | 0 | 1.29M | 1M | 1M | 1M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 10.47M | 27M | 50M | 116M | 0 | 84M |
SHOP Key Ratios
Shopify Inc. (SHOP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -5.67% | -4.18% | -4.89% | 6.79% | 33.25% | -35.72% | 1.53% | 19.58% | 9.84% | 10.52% |
| Return on Invested Capital (ROIC) | -6.06% | -5.34% | -5.01% | 1.9% | 2.8% | -6.93% | -12.67% | 8.07% | 9.45% | 9.45% |
| Gross Margin | 56.48% | 55.56% | 54.85% | 52.62% | 53.8% | 49.18% | 49.79% | 50.36% | 48.07% | 64.51% |
| Net Margin | -5.94% | -6.01% | -7.91% | 10.91% | 63.2% | -61.79% | 1.87% | 22.74% | 10.65% | 14.48% |
| Debt / Equity | 0.02x | 0.01x | 0.05x | 0.14x | 0.11x | 0.17x | 0.13x | 0.10x | 0.01x | 0.01x |
| Interest Coverage | - | - | - | 26.03x | 907.49x | -597.39x | - | - | - | - |
| FCF Conversion | -0.20x | -0.14x | -0.57x | 1.33x | 0.18x | 0.04x | 7.15x | 0.80x | 1.65x | 1.60x |
| Revenue Growth | 72.94% | 59.4% | 47.05% | 85.63% | 57.43% | 21.43% | 26.07% | 25.78% | 30.14% | -1.95% |
SHOP SEC Filings & Documents
Shopify Inc. (SHOP) SEC filings — annual & quarterly reports (10-K, 10-Q)
SHOP Frequently Asked Questions
Shopify Inc. (SHOP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Shopify Inc. (SHOP) reported $9.20B in revenue for fiscal year 2025. This represents a 18200% increase from $50.3M in 2013.
Shopify Inc. (SHOP) grew revenue by 30.1% over the past year. This is strong growth.
Yes, Shopify Inc. (SHOP) is profitable, generating $1.33B in net income for fiscal year 2025 (10.7% net margin).
Dividend & Returns
Shopify Inc. (SHOP) has a return on equity (ROE) of 9.8%. This is below average, suggesting room for improvement.
Shopify Inc. (SHOP) generated $2.13B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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