Shopify Inc. logo

Shopify Inc.

SHOP

NASDAQTechnologySoftware - Application

Previous close

$149.25

+$2.07 · +1.41%

Aug 21, 4:00 PM ET

SHOP company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

70

Undervalued

Momentum

45

Neutral

Sentiment

63

Bullish

Risk resilience

34

High Risk

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Company profile

Company website

Shopify Inc. functions as a premier commerce technology company, providing an extensive platform and associated services to empower businesses worldwide. Its reach extends across Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific region, and Latin America. The company's robust platform equips merchants to effectively display, organize, market, and sell their merchandise through a multitude of sales avenues. These include digital storefronts accessible via web and mobile, traditional brick-and-mortar stores, temporary pop-up locations, integrated social media channels, proprietary mobile applications, embeddable "buy buttons," and established online marketplaces. Beyond sales, the platform streamlines crucial business operations such as product and inventory management, order and payment processing, fulfillment and shipping logistics, attracting new customers and fostering client relationships, product sourcing, analytical reporting, financial administration encompassing cash, payments, and transactions, and facilitating access to working capital. Additionally, Shopify offers supplementary services like the sale of custom website themes and applications, alongside domain name registration. Its merchant-focused solutions also cover payment acceptance, efficient shipping and order fulfillment, and aid in securing necessary operating funds. Founded in 2004 under the initial name Jaded Pixel Technologies Inc., the company officially rebranded to Shopify Inc. in November 2011. Its global headquarters are located in Ottawa, Canada.

Industry
Software - Application
Sector
Technology
Headquarters
CA
CEO
Tobias Lutke
Listed since
May 20, 2015
Employees
7,600

Market position

Day range

Current $149.25

52-week range

Current $149.25

Open
$147.55
Previous close
$147.18
Volume
4.85M
0.48× average
Average volume
10.18M
Average daily volume
Market cap
193.67B USD
Beta
2.59
Market reference 1
50-day average
$126.58
+17.91% above average
200-day average
$131.59
+13.42% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
207.75B USD
P/E (TTM)
100.17×
P/B (TTM)
15.24×
P/S (TTM)
14.6×
EV / EBITDA
134.9×
Earnings yield
0.59%
Free cash flow yield
0.96%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
47.77%
Operating margin
13.90%
Net margin
14.53%
Return on equity
9.14%
Return on assets
8.10%
Return on invested capital
8.67%

Financial health

Debt / equity
0.01×
Current ratio
5.96×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends76%26%-24%-74%Gross margin, FY2021: 53.80%Gross margin, FY2022: 49.18%Gross margin, FY2023: 49.79%Gross margin, FY2024: 50.36%Gross margin, FY2025: 48.07%Operating margin, FY2021: 5.83%Operating margin, FY2022: -14.68%Operating margin, FY2023: -20.08%Operating margin, FY2024: 12.11%Operating margin, FY2025: 12.70%Net margin, FY2021: 63.20%Net margin, FY2022: -61.79%Net margin, FY2023: 1.87%Net margin, FY2024: 22.74%Net margin, FY2025: 10.65%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 53.80%. Gross margin FY2022 49.18%. Gross margin FY2023 49.79%. Gross margin FY2024 50.36%. Gross margin FY2025 48.07%. Operating margin FY2021 5.83%. Operating margin FY2022 -14.68%. Operating margin FY2023 -20.08%. Operating margin FY2024 12.11%. Operating margin FY2025 12.70%. Net margin FY2021 63.20%. Net margin FY2022 -61.79%. Net margin FY2023 1.87%. Net margin FY2024 22.74%. Net margin FY2025 10.65%.

Income trends

Revenue

11.56B USD+30.14%

Operating income

1.47B USD+36.56%

Net income

1.23B USD-39.03%
Income trends across reported periods13.06B USD7.05B USD1.04B USD−4.96B USDRevenue, FY2021: 4.61B USDRevenue, FY2022: 5.6B USDRevenue, FY2023: 7.06B USDRevenue, FY2024: 8.88B USDRevenue, FY2025: 11.56B USDOperating income, FY2021: 268.64M USDOperating income, FY2022: −822M USDOperating income, FY2023: −1.42B USDOperating income, FY2024: 1.08B USDOperating income, FY2025: 1.47B USDNet income, FY2021: 2.91B USDNet income, FY2022: −3.46B USDNet income, FY2023: 132M USDNet income, FY2024: 2.02B USDNet income, FY2025: 1.23B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 4.61B USD. Revenue FY2022 5.6B USD. Revenue FY2023 7.06B USD. Revenue FY2024 8.88B USD. Revenue FY2025 11.56B USD. Operating income FY2021 268.64M USD. Operating income FY2022 −822M USD. Operating income FY2023 −1.42B USD. Operating income FY2024 1.08B USD. Operating income FY2025 1.47B USD. Net income FY2021 2.91B USD. Net income FY2022 −3.46B USD. Net income FY2023 132M USD. Net income FY2024 2.02B USD. Net income FY2025 1.23B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue11.56B USD8.88B USD7.06B USD5.6B USD4.61B USD
Cost of goods sold6B USD4.41B USD3.55B USD2.85B USD2.13B USD
Gross profit5.56B USD4.47B USD3.52B USD2.75B USD2.48B USD
Research and development1.54B USD1.37B USD1.73B USD1.5B USD854.38M USD
Selling, general, and administrative2.13B USD1.8B USD1.71B USD1.94B USD1.28B USD
Operating expenses4.09B USD3.4B USD4.93B USD3.58B USD2.21B USD
Interest income331M USD308M USD241M USD76.01M USD15.36M USD
Interest expense1.15M USD3.46M USD
Depreciation and amortization31M USD36M USD70M USD93M USD66.31M USD
Operating income1.47B USD1.08B USD−1.42B USD−822M USD268.64M USD
Net income1.23B USD2.02B USD132M USD−3.46B USD2.91B USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
82%
9 beats, 2 misses, 0 met estimates
Average EPS surprise
+9.94%
11 comparable reports
Latest EPS result
0.42
Estimate 0.4 · Beat by 5.71%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.550.430.320.21Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 11, 2025: actual 0.44, estimate 0.432, surprise +1.83%, Beat. Q2 2025, reported May 8, 2025: actual 0.25, estimate 0.26, surprise -3.85%, Miss. Q3 2025, reported Aug 6, 2025: actual 0.35, estimate 0.291, surprise +20.23%, Beat. Q4 2025, reported Nov 4, 2025: actual 0.34, estimate 0.337, surprise +0.98%, Beat. Q1 2026, reported Feb 11, 2026: actual 0.46, estimate 0.506, surprise -9.09%, Miss. Q2 2026, reported May 5, 2026: actual 0.36, estimate 0.326, surprise +10.36%, Beat. Q3 2026, reported Aug 5, 2026: actual 0.42, estimate 0.397, surprise +5.71%, Beat. Q4 2026, reported Nov 3, 2026: actual —, estimate 0.44, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates3.95B3.37B2.79B2.21BQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 11, 2025: actual 2.81B USD, estimate 2.7B USD, surprise +4.00%, Beat. Q2 2025, reported May 8, 2025: actual 2.36B USD, estimate 2.53B USD, surprise -6.55%, Miss. Q3 2025, reported Aug 6, 2025: actual 2.68B USD, estimate 2.58B USD, surprise +3.92%, Beat. Q4 2025, reported Nov 4, 2025: actual 2.84B USD, estimate 2.75B USD, surprise +3.35%, Beat. Q1 2026, reported Feb 11, 2026: actual 3.64B USD, estimate 3.6B USD, surprise +0.96%, Beat. Q2 2026, reported May 5, 2026: actual 3.11B USD, estimate 3.06B USD, surprise +1.43%, Beat. Q3 2026, reported Aug 5, 2026: actual 3.54B USD, estimate 3.4B USD, surprise +4.16%, Beat. Q4 2026, reported Nov 3, 2026: actual —, estimate 3.8B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$166.41

11.50% upside
Past 12 months12-month forecastHigh $200Average $166.41Low $130

Rating distribution

64 ratings
Strong buy00%
Buy4266%
Hold1930%
Sell35%
Strong sell00%

Recent analyst actions

12 institutions

SHOP news

SHOP peers

ETFs holding SHOP

Funds reporting this stock among their holdings, ordered by reported position size.

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