SHOP Chart
About

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.

Fundamentals
Scroll to Statements
Sector Technology Industry Software - Application Market Cap 152.60B
Enterprise Value 146.83B Income 1.23B Sales 11.56B
Book/sh 10.33 Cash/sh 4.48 Dividend Yield —
Payout 0.00% Employees 7600 IPO —
P/E 124.39 Forward P/E 51.02 PEG —
P/S 13.21 P/B 11.32 P/C —
EV/EBITDA 76.12 EV/Sales 12.71 Quick Ratio 4.58
Current Ratio 5.96 Debt/Eq 1.40 LT Debt/Eq —
EPS (ttm) 0.94 EPS next Y 2.29 EPS Growth -42.30%
Revenue Growth 30.60% Earnings 2026-05-07 ROA 8.15%
ROE 9.84% ROIC — Gross Margin 48.07%
Oper. Margin 20.29% Profit Margin 10.65% Shs Outstand 1.23B
Shs Float 1.22B Short Float 0.70% Short Ratio 1.10
Short Interest — 52W High 182.19 52W Low 69.84
Beta 2.82 Avg Volume 10.44M Volume 10.39M
Target Price $161.58 Recom Buy Prev Close $117.28
Price $116.93 Change -0.30%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$161.58
Mean price target
2. Current target
$116.93
Latest analyst target
3. DCF / Fair value
$18.88
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$116.93
Low
$110.00
High
$200.00
Mean
$161.58

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-17 main Jefferies Hold → Hold $125
2026-02-17 up Truist Securities Hold → Buy $150
2026-02-13 main Citigroup Buy → Buy $172
2026-02-12 main RBC Capital Outperform → Outperform $170
2026-02-12 main UBS Neutral → Neutral $145
2026-02-12 main BMO Capital Outperform → Outperform $160
2026-02-12 main Citizens Market Outperform → Market Outperform $160
2026-02-12 main Cantor Fitzgerald Neutral → Neutral $126
2026-02-12 main Barclays Equal-Weight → Equal-Weight $130
2026-02-12 main Wedbush Outperform → Outperform $160
2026-02-12 main Wells Fargo Overweight → Overweight $191
2026-02-12 main Truist Securities Hold → Hold $110
2026-02-12 up Mizuho Neutral → Outperform $150
2026-02-12 reit Needham Buy → Buy $180
2026-02-10 main Benchmark Buy → Buy $145
2026-02-09 main BMO Capital Outperform → Outperform $150
2026-01-08 up Scotiabank Sector Perform → Sector Outperform $200
2026-01-06 down Wolfe Research Outperform → Peer Perform —
2025-12-17 main Wells Fargo Overweight → Overweight $198
2025-11-05 main UBS Neutral → Neutral $165
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 3000 54120.0 — Exercise of options at price 18.04 per share. Finkelstein (Harley Michael) Senior Officer of Issuer — 2026-02-17 00:00:00 D
1 3000 338403.0 — Disposition under a purchase/ownership plan at price 112.80 per share. Finkelstein (Harley Michael) Senior Officer of Issuer — 2026-02-17 00:00:00 D
2 1200 4766.0 — Exercise of options at price 3.97 per share. Goodman (Gail Faye) Director of Issuer — 2026-02-05 00:00:00 D
3 1200 134868.0 — Disposition under a purchase/ownership plan at price 112.39 per share. Goodman (Gail Faye) Director of Issuer — 2026-02-05 00:00:00 D
4 774 nan — — Niehaus (Jean) Senior Officer of Issuer — 2026-02-02 00:00:00 D
5 331 43867.0 — Disposition in the public market at price 132.53 per share. Niehaus (Jean) Senior Officer of Issuer — 2026-02-02 00:00:00 D
6 3389 nan — — Finkelstein (Harley Michael) Senior Officer of Issuer — 2026-01-28 00:00:00 D
7 1720 237607.0 — Disposition in the public market at price 138.14 per share. Finkelstein (Harley Michael) Senior Officer of Issuer — 2026-01-28 00:00:00 D
8 3040 nan — — Hertz (Jessica) Senior Officer of Issuer — 2026-01-28 00:00:00 D
9 1553 214537.0 — Disposition in the public market at price 138.14 per share. Hertz (Jessica) Senior Officer of Issuer — 2026-01-28 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems70.92M-20.63M-135.47M199.87M
TaxRateForCalcs0.090.290.040.07
NormalizedEBITDA582.00M216.00M2.42B429.68M
TotalUnusualItems756.00M-72.00M-3.01B2.78B
TotalUnusualItemsExcludingGoodwill756.00M-72.00M-3.01B2.78B
NetIncomeFromContinuingOperationNetMinorityInterest2.02B132.00M-3.46B2.91B
ReconciledDepreciation36.00M70.00M93.00M66.31M
ReconciledCostOfRevenue4.41B3.54B2.85B2.13B
EBITDA1.34B144.00M-594.00M3.21B
EBIT1.30B74.00M-687.00M3.14B
NetInterestIncome308.00M241.00M75.00M11.86M
InterestExpense1.15M1.15M
InterestIncome308.00M241.00M75.00M15.36M
NormalizedIncome1.33B183.37M-584.47M336.16M
NetIncomeFromContinuingAndDiscontinuedOperation2.02B132.00M-3.46B2.91B
TotalExpenses7.58B6.99B6.29B4.26B
TotalOperatingIncomeAsReported1.07B-1.42B-822.00M268.64M
DilutedAverageShares1.29B1.30B1.27B1.27B
BasicAverageShares1.29B1.28B1.27B1.25B
DilutedEPS1.560.10-2.732.29
BasicEPS1.560.10-2.732.34
DilutedNIAvailtoComStockholders2.02B133.00M-3.46B2.92B
AverageDilutionEarnings0.001.00M0.002.57M
NetIncomeCommonStockholders2.02B132.00M-3.46B2.91B
NetIncome2.02B132.00M-3.46B2.91B
NetIncomeIncludingNoncontrollingInterests2.02B132.00M-3.46B2.91B
NetIncomeContinuousOperations2.02B132.00M-3.46B2.91B
TaxProvision209.00M53.00M-163.00M225.93M
PretaxIncome2.23B185.00M-3.62B3.14B
OtherIncomeExpense618.00M-130.00M-3.01B2.78B
SpecialIncomeCharges-227.00M-1.49B-135.00M-81.72M
WriteOff0.001.34B0.00
RestructuringAndMergernAcquisition227.00M152.00M135.00M81.72M
EarningsFromEquityInterest-138.00M-58.00M0.00
GainOnSaleOfSecurity983.00M1.42B-2.88B2.86B
NetNonOperatingInterestIncomeExpense308.00M241.00M75.00M11.86M
TotalOtherFinanceCost2.35M2.34M
InterestExpenseNonOperating1.15M1.15M
InterestIncomeNonOperating308.00M241.00M75.00M15.36M
OperatingIncome1.30B74.00M-687.00M350.36M
OperatingExpense3.17B3.44B3.44B2.13B
OtherOperatingExpenses227.00M152.00M135.00M81.72M
ResearchAndDevelopment1.37B1.73B1.50B854.38M
SellingGeneralAndAdministration1.80B1.71B1.94B1.28B
SellingAndMarketingExpense1.39B1.22B1.23B901.56M
GeneralAndAdministrativeExpense410.00M491.00M708.00M374.84M
OtherGandA410.00M491.00M708.00M374.84M
GrossProfit4.47B3.52B2.75B2.48B
CostOfRevenue4.41B3.54B2.85B2.13B
TotalRevenue8.88B7.06B5.60B4.61B
OperatingRevenue8.88B7.06B5.60B4.61B
Line Item2023-12-31
TreasurySharesNumber0.00
OrdinarySharesNumber1.29B1.29B1.28B1.26B
ShareIssued1.29B1.29B1.28B1.26B
TotalDebt1.13B1.15B1.40B1.17B
TangibleBookValue11.08B8.61B6.01B10.64B
InvestedCapital12.48B9.98B9.15B12.04B
WorkingCapital5.30B5.38B5.19B7.84B
NetTangibleAssets11.08B8.61B6.01B10.64B
CapitalLeaseObligations208.00M234.00M483.00M262.52M
CommonStockEquity11.56B9.07B8.24B11.13B
TotalCapitalization11.56B9.98B9.15B12.04B
TotalEquityGrossMinorityInterest11.56B9.07B8.24B11.13B
StockholdersEquity11.56B9.07B8.24B11.13B
GainsLossesNotAffectingRetainedEarnings-10.00M4.00M-16.00M-5.97M
OtherEquityAdjustments-10.00M4.00M-16.00M-5.97M
RetainedEarnings1.63B-390.00M-522.00M2.94B
AdditionalPaidInCapital305.00M251.00M30.00M161.07M
CapitalStock9.63B9.20B8.75B8.04B
CommonStock9.63B9.20B8.75B8.04B
TotalLiabilitiesNetMinorityInterest2.37B2.23B2.52B2.21B
TotalNonCurrentLiabilitiesNetMinorityInterest410.00M1.33B1.66B1.50B
NonCurrentDeferredLiabilities220.00M202.00M284.00M346.36M
NonCurrentDeferredRevenue147.00M196.00M268.00M162.93M
NonCurrentDeferredTaxesLiabilities73.00M6.00M16.00M183.43M
LongTermDebtAndCapitalLeaseObligation190.00M1.13B1.38B1.16B
LongTermCapitalLeaseObligation190.00M217.00M465.00M246.78M
LongTermDebt916.00M913.00M910.96M
CurrentLiabilities1.96B898.00M856.00M702.73M
OtherCurrentLiabilities13.00M3.00M16.00M5.93M
CurrentDeferredLiabilities283.00M302.00M296.00M216.79M
CurrentDeferredRevenue283.00M302.00M296.00M216.79M
CurrentDebtAndCapitalLeaseObligation936.00M17.00M18.00M15.75M
CurrentCapitalLeaseObligation18.00M17.00M18.00M15.75M
CurrentDebt918.00M
OtherCurrentBorrowings918.00M
PensionandOtherPostRetirementBenefitPlansCurrent99.00M55.00M68.00M71.90M
CurrentProvisions48.00M30.00M
PayablesAndAccruedExpenses577.00M491.00M458.00M392.37M
CurrentAccruedExpenses48.00M30.00M
Payables577.00M491.00M458.00M392.37M
OtherPayable38.00M36.00M38.00M28.67M
TotalTaxPayable179.00M91.00M56.00M79.69M
IncomeTaxPayable58.00M18.00M9.00M13.51M
AccountsPayable360.00M364.00M364.00M284.01M
TotalAssets13.92B11.30B10.76B13.34B
TotalNonCurrentAssets6.67B5.02B4.71B4.80B
OtherNonCurrentAssets21.00M-74.00K
NonCurrentDeferredAssets37.00M44.00M41.00M48.37M
NonCurrentDeferredTaxesAssets37.00M44.00M41.00M48.37M
FinancialAssets205.88M
InvestmentsAndAdvances6.00B4.38B1.95B3.96B
OtherInvestments3.60B1.95B
InvestmentinFinancialAssets709.00M115.00M220.99M205.88M
AvailableForSaleSecurities709.00M115.00M220.99M205.88M
LongTermEquityInvestment5.29B4.26B1.95B3.75B
GoodwillAndOtherIntangibleAssets474.00M456.00M2.23B495.02M
OtherIntangibleAssets22.00M29.00M390.00M138.50M
Goodwill452.00M427.00M1.84B356.53M
NetPPE140.00M147.00M486.00M301.91M
AccumulatedDepreciation-170.00M-156.00M-153.00M-127.35M
GrossPPE310.00M303.00M639.00M429.26M
Leases149.00M142.00M182.00M159.13M
OtherProperties93.00M98.00M389.00M207.87M
MachineryFurnitureEquipment68.00M63.00M68.00M62.26M
Properties0.000.000.000.00
CurrentAssets7.25B6.28B6.05B8.54B
OtherCurrentAssets1.00M29.00M10.68M
HedgingAssetsCurrent0.006.00M1.00M1.82M
RestrictedCash9.00M8.00M
PrepaidAssets94.00M86.00M82.00M71.46M
Inventory26.00M19.00M
OtherInventories26.00M19.00M
Receivables1.66B1.16B885.00M687.26M
OtherReceivables254.00M206.00M124.00M118.97M
TaxesReceivable81.00M56.00M36.00M44.16M
AccruedInterestReceivable19.00M15.00M16.00M13.07M
LoansReceivable1.02B672.00M209.00M69.70M
AccountsReceivable280.00M206.00M500.00M441.37M
AllowanceForDoubtfulAccountsReceivable-31.00M-36.00M-49.42M-38.26M
GrossAccountsReceivable311.00M242.00M500.36M479.63M
CashCashEquivalentsAndShortTermInvestments5.47B5.00B5.05B7.77B
OtherShortTermInvestments3.98B3.60B3.40B5.27B
CashAndCashEquivalents1.49B1.41B1.65B2.50B
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow1.60B905.00M-186.00M484.92M
IssuanceOfDebt0.00
IssuanceOfCapitalStock0.001.54B
CapitalExpenditure-19.00M-39.00M-50.00M-50.79M
InterestPaidSupplementalData1.00M1.00M1.00M1.29M
IncomeTaxPaidSupplementalData116.00M50.00M27.00M10.47M
EndCashPosition1.50B1.41B1.65B2.50B
BeginningCashPosition1.41B1.65B2.50B2.70B
EffectOfExchangeRateChanges-6.00M4.00M-17.00M-7.00M
ChangesInCash91.00M-240.00M-837.00M-193.60M
FinancingCashFlow61.00M60.00M18.00M1.65B
CashFlowFromContinuingFinancingActivities61.00M60.00M18.00M1.65B
ProceedsFromStockOptionExercised61.00M60.00M18.00M108.59M
NetCommonStockIssuance0.001.54B
CommonStockIssuance0.001.54B
NetIssuancePaymentsOfDebt0.00
NetLongTermDebtIssuance0.00
LongTermDebtIssuance0.00
InvestingCashFlow-1.59B-1.24B-719.00M-2.38B
CashFlowFromContinuingInvestingActivities-1.59B-1.24B-719.00M-2.38B
NetOtherInvestingChanges-461.00M-559.00M-159.00M-31.28M
NetInvestmentPurchaseAndSale-939.00M-251.00M1.88B-1.59B
SaleOfInvestment7.46B5.59B6.89B5.75B
PurchaseOfInvestment-8.40B-5.84B-5.01B-7.34B
NetBusinessPurchaseAndSale-167.00M-395.00M-2.39B-709.86M
PurchaseOfBusiness-167.00M-395.00M-2.39B-709.86M
NetIntangiblesPurchaseAndSale0.00
PurchaseOfIntangibles0.00
NetPPEPurchaseAndSale-19.00M-39.00M-50.00M-50.79M
PurchaseOfPPE-19.00M-39.00M-50.00M-50.79M
OperatingCashFlow1.62B944.00M-136.00M535.71M
CashFlowFromContinuingOperatingActivities1.62B944.00M-136.00M535.71M
ChangeInWorkingCapital-166.00M195.00M-99.00M-129.64M
ChangeInOtherWorkingCapital26.00M60.00M32.00M89.43M
ChangeInOtherCurrentAssets-72.00M-50.00M-31.00M-50.15M
ChangeInPayablesAndAccruedExpense110.00M69.00M28.00M138.18M
ChangeInPrepaidAssets-266.08M
ChangeInReceivables-230.00M116.00M-128.00M-307.09M
ChangesInAccountReceivables-230.00M116.00M-128.00M-307.09M
OtherNonCashItems-94.00M-158.00M-121.00M-56.04M
StockBasedCompensation430.00M615.00M549.00M330.76M
ProvisionandWriteOffofAssets148.00M80.00M74.00M43.78M
AssetImpairmentCharge0.001.38B84.00M30.14M
DeferredTax78.00M-1.00M-187.00M190.96M
DeferredIncomeTax78.00M-1.00M-187.00M190.96M
DepreciationAmortizationDepletion36.00M70.00M93.00M66.31M
DepreciationAndAmortization36.00M70.00M93.00M66.31M
AmortizationCashFlow14.00M
AmortizationOfIntangibles14.00M
Depreciation22.00M
OperatingGainsLosses-835.00M-1.37B2.93B-2.86B
EarningsLossesFromEquityInvestments-854.00M-1.36B2.92B-2.86B
NetForeignCurrencyExchangeGainLoss19.00M-6.00M12.00M4.57M
NetIncomeFromContinuingOperations2.02B132.00M-3.46B2.91B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for SHOP
Date User Asset Broker Type Position Size Entry Price Patterns