Symbols / SHOP Stock $102.54 -7.21% Shopify Inc.

Technology • Software - Application • Canada • NMS
SHOP (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Technology
Industry Software - Application
CEO Mr. Tobias Lutke
Exch · Country NMS · Canada
Market Cap 133.06B
Enterprise Value 127.50B
Income 1.33B
Sales 12.37B
FCF (ttm) 1.26B
Book/sh 10.33
Cash/sh 4.43
Employees 7,600
Insider 10d —
IPO May 20, 2015
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 100.53
Forward P/E 44.16
PEG 2.41
P/S 10.76
P/B 9.92
P/C —
EV/EBITDA 59.36
EV/Sales 10.31
Quick Ratio 4.53
Current Ratio 6.20
Debt/Eq 1.43
LT Debt/Eq —
EPS (ttm) 1.02
EPS next Y 2.32
EPS Growth —
Revenue Growth 34.30%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-08-05
Earnings (prior) 2026-05-04
ROA 9.62%
ROE 11.31%
ROIC —
Gross Margin 47.97%
Oper. Margin 15.71%
Profit Margin 10.77%
Shs Outstand 1.22B
Shs Float 1.22B
Insider Own 0.19%
Instit Own 74.13%
Short Float 1.57%
Short Ratio 2.60
Short Interest 19.10M
52W High 182.19
vs 52W High -43.72%
52W Low 100.31
vs 52W Low 2.22%
Beta 2.64
Impl. Vol. 0.78%
Rel Volume 1.75
Avg Volume 10.39M
Volume 18.13M
Target (mean) $153.42
Tgt Median $150.00
Tgt Low $105.00
Tgt High $200.00
# Analysts 45
Recom Buy
Prev Close $110.50
Price $102.54
Change -7.21%
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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$153.42
Mean price target
2. Current target
$102.54
Latest analyst target
3. DCF / Fair value
$18.55
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$102.54
Low
$105.00
High
$200.00
Mean
$153.42

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-06 main Canaccord Genuity Buy → Buy $145
2026-05-06 main UBS Neutral → Neutral $130
2026-05-06 main Citigroup Buy → Buy $156
2026-05-06 reit RBC Capital Outperform → Outperform $170
2026-05-06 main Barclays Equal-Weight → Equal-Weight $126
2026-05-06 main Citizens Market Outperform → Market Outperform $150
2026-05-06 main Wells Fargo Overweight → Overweight $144
2026-05-06 main DA Davidson Buy → Buy $140
2026-05-05 reit Needham Buy → Buy $180
2026-04-28 main Citigroup Buy → Buy $163
2026-04-06 main Wells Fargo Overweight → Overweight $166
2026-03-09 main Jefferies Hold → Hold $150
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
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-05-05 Goodman (Gail Faye) Director of Issuer — 1,200 $3.97 $4,766
2026-05-05 Goodman (Gail Faye) Director of Issuer — 1,200 $115.42 $138,504
2026-05-04 Finkelstein (Harley Michael) Senior Officer of Issuer — 675 $126.86 $85,631
2026-05-04 Finkelstein (Harley Michael) Senior Officer of Issuer — 675 $126.86 $85,631
2026-04-30 Shopify Inc Issuer — 152,191 $120.75 $18,376,911
2026-04-30 Shopify Inc Issuer — 142,159 — —
2026-04-29 Shopify Inc Issuer — 142,159 $120.71 $17,159,444
2026-04-29 Shopify Inc Issuer — 129,945 — —
2026-04-29 Lutke (Tobias Albin) Director of Issuer — 60,000 $121.07 $7,264,320
2026-04-29 Lutke (Tobias Albin) Director of Issuer — 12,000 $121.07 $1,452,864
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
11,556.00
+30.14%
8,880.00
+25.78%
7,060.00
+26.07%
5,600.00
Operating Revenue
11,556.00
+30.14%
8,880.00
+25.78%
7,060.00
+26.07%
5,600.00
Cost Of Revenue
6,001.00
+36.14%
4,408.00
+24.34%
3,545.00
+24.56%
2,846.00
Reconciled Cost Of Revenue
6,001.00
+36.14%
4,408.00
+24.34%
3,545.00
+24.56%
2,846.00
Gross Profit
5,555.00
+24.22%
4,472.00
+27.23%
3,515.00
+27.63%
2,754.00
Operating Expense
3,670.00
+15.77%
3,170.00
-7.88%
3,441.00
+0.00%
3,441.00
Research And Development
1,536.00
+12.36%
1,367.00
-20.98%
1,730.00
+15.10%
1,503.00
Selling General And Administration
2,134.00
+18.36%
1,803.00
+5.38%
1,711.00
-11.71%
1,938.00
Selling And Marketing Expense
1,663.00
+19.38%
1,393.00
+14.18%
1,220.00
-0.81%
1,230.00
General And Administrative Expense
471.00
+14.88%
410.00
-16.50%
491.00
-30.65%
708.00
Other Gand A
471.00
+14.88%
410.00
-16.50%
491.00
-30.65%
708.00
Other Operating Expenses
—
227.00
+49.34%
152.00
+12.59%
135.00
Total Expenses
9,671.00
+27.62%
7,578.00
+8.47%
6,986.00
+11.12%
6,287.00
Operating Income
1,885.00
+44.78%
1,302.00
+1659.46%
74.00
+110.77%
-687.00
Total Operating Income As Reported
1,468.00
+36.56%
1,075.00
+175.81%
-1,418.00
-72.51%
-822.00
EBITDA
1,916.00
+43.20%
1,338.00
+829.17%
144.00
+124.24%
-594.00
Normalized EBITDA
2,583.00
+343.81%
582.00
+169.44%
216.00
-91.06%
2,417.00
Reconciled Depreciation
31.00
-13.89%
36.00
-48.57%
70.00
-24.73%
93.00
EBIT
1,885.00
+44.78%
1,302.00
+1659.46%
74.00
+110.77%
-687.00
Total Unusual Items
-667.00
-188.23%
756.00
+1150.00%
-72.00
+97.61%
-3,011.00
Total Unusual Items Excluding Goodwill
-667.00
-188.23%
756.00
+1150.00%
-72.00
+97.61%
-3,011.00
Special Income Charges
-417.00
-83.70%
-227.00
+84.79%
-1,492.00
-1005.19%
-135.00
Restructuring And Mergern Acquisition
417.00
+83.70%
227.00
+49.34%
152.00
+12.59%
135.00
Write Off
0.00
0.00
-100.00%
1,340.00
0.00
Net Income
1,231.00
-39.03%
2,019.00
+1429.55%
132.00
+103.82%
-3,460.00
Pretax Income
1,509.00
-32.27%
2,228.00
+1104.32%
185.00
+105.11%
-3,623.00
Net Non Operating Interest Income Expense
331.00
+7.47%
308.00
+27.80%
241.00
+221.33%
75.00
Interest Expense Non Operating
—
—
—
1.15
Net Interest Income
331.00
+7.47%
308.00
+27.80%
241.00
+221.33%
75.00
Interest Expense
—
—
—
1.15
Interest Income Non Operating
331.00
+7.47%
308.00
+27.80%
241.00
+221.33%
75.00
Interest Income
331.00
+7.47%
308.00
+27.80%
241.00
+221.33%
75.00
Other Income Expense
-707.00
-214.40%
618.00
+575.38%
-130.00
+95.68%
-3,011.00
Gain On Sale Of Security
-250.00
-125.43%
983.00
-30.77%
1,420.00
+149.37%
-2,876.00
Tax Provision
278.00
+33.01%
209.00
+294.34%
53.00
+132.52%
-163.00
Tax Rate For Calcs
0.00
+95.74%
0.00
-67.13%
0.00
+535.70%
0.00
Tax Effect Of Unusual Items
-122.73
-272.70%
71.06
+445.10%
-20.59
+84.80%
-135.47
Net Income Including Noncontrolling Interests
1,231.00
-39.03%
2,019.00
+1429.55%
132.00
+103.82%
-3,460.00
Net Income From Continuing Operation Net Minority Interest
1,231.00
-39.03%
2,019.00
+1429.55%
132.00
+103.82%
-3,460.00
Net Income From Continuing And Discontinued Operation
1,231.00
-39.03%
2,019.00
+1429.55%
132.00
+103.82%
-3,460.00
Net Income Continuous Operations
1,231.00
-39.03%
2,019.00
+1429.55%
132.00
+103.82%
-3,460.00
Normalized Income
1,775.27
+33.07%
1,334.06
+627.38%
183.41
+131.38%
-584.47
Net Income Common Stockholders
1,231.00
-39.03%
2,019.00
+1429.55%
132.00
+103.82%
-3,460.00
Diluted EPS
—
1.56
+1459.58%
0.10
+103.66%
-2.73
Basic EPS
—
1.56
+1459.58%
0.10
+103.66%
-2.73
Basic Average Shares
—
1,294.58
+1.02%
1,281.55
+1.21%
1,266.27
Diluted Average Shares
—
1,294.58
-0.07%
1,295.51
+2.31%
1,266.27
Diluted NI Availto Com Stockholders
1,231.00
-39.03%
2,019.00
+1429.55%
132.00
+103.82%
-3,460.00
Average Dilution Earnings
—
0.00
-100.00%
1.00
0.00
Earnings From Equity Interest
-40.00
+71.01%
-138.00
-137.93%
-58.00
0.00
Total Other Finance Cost
—
—
—
2.35
Line Item Trend 2023-12-31
Total Assets
11,299.00
Current Assets
6,275.00
Cash Cash Equivalents And Short Term Investments
5,000.00
Cash And Cash Equivalents
1,405.00
Other Short Term Investments
3,595.00
Receivables
1,155.00
Accounts Receivable
206.00
Gross Accounts Receivable
242.00
Allowance For Doubtful Accounts Receivable
-36.00
Other Receivables
206.00
Taxes Receivable
56.00
Accrued Interest Receivable
15.00
Loans Receivable
672.00
Inventory
19.00
Prepaid Assets
86.00
Restricted Cash
8.00
Hedging Assets Current
6.00
Other Current Assets
1.00
Total Non Current Assets
5,024.00
Net PPE
147.00
Gross PPE
303.00
Accumulated Depreciation
-156.00
Properties
0.00
Machinery Furniture Equipment
63.00
Other Properties
98.00
Leases
142.00
Goodwill And Other Intangible Assets
456.00
Goodwill
427.00
Other Intangible Assets
29.00
Investments And Advances
4,377.00
Long Term Equity Investment
4,262.00
Other Investments
3,597.00
Non Current Deferred Assets
44.00
Non Current Deferred Taxes Assets
44.00
Other Non Current Assets
—
Total Liabilities Net Minority Interest
2,233.00
Current Liabilities
898.00
Payables And Accrued Expenses
491.00
Payables
491.00
Accounts Payable
364.00
Other Payable
36.00
Current Accrued Expenses
30.00
Pensionand Other Post Retirement Benefit Plans Current
55.00
Total Tax Payable
91.00
Income Tax Payable
18.00
Current Debt And Capital Lease Obligation
17.00
Current Debt
—
Other Current Borrowings
—
Current Capital Lease Obligation
17.00
Current Deferred Liabilities
302.00
Current Deferred Revenue
302.00
Other Current Liabilities
3.00
Total Non Current Liabilities Net Minority Interest
1,335.00
Long Term Debt And Capital Lease Obligation
1,133.00
Long Term Debt
916.00
Long Term Capital Lease Obligation
217.00
Non Current Deferred Liabilities
202.00
Non Current Deferred Revenue
196.00
Non Current Deferred Taxes Liabilities
6.00
Stockholders Equity
9,066.00
Common Stock Equity
9,066.00
Capital Stock
9,201.00
Common Stock
9,201.00
Share Issued
1,286.57
Ordinary Shares Number
1,286.57
Treasury Shares Number
0.00
Additional Paid In Capital
251.00
Retained Earnings
-390.00
Gains Losses Not Affecting Retained Earnings
4.00
Other Equity Adjustments
4.00
Total Equity Gross Minority Interest
9,066.00
Total Capitalization
9,982.00
Working Capital
5,377.00
Invested Capital
9,982.00
Total Debt
1,150.00
Capital Lease Obligations
234.00
Net Tangible Assets
8,610.00
Tangible Book Value
8,610.00
Available For Sale Securities
115.00
Current Provisions
30.00
Financial Assets
—
Investmentin Financial Assets
115.00
Other Inventories
19.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
2,033.00
+25.80%
1,616.00
+71.19%
944.00
+794.12%
-136.00
Cash Flow From Continuing Operating Activities
2,033.00
+25.80%
1,616.00
+71.19%
944.00
+794.12%
-136.00
Net Income From Continuing Operations
1,231.00
-39.03%
2,019.00
+1429.55%
132.00
+103.82%
-3,460.00
Depreciation Amortization Depletion
31.00
-13.89%
36.00
-48.57%
70.00
-24.73%
93.00
Depreciation
—
22.00
—
—
Amortization Cash Flow
—
14.00
—
—
Depreciation And Amortization
31.00
-13.89%
36.00
-48.57%
70.00
-24.73%
93.00
Amortization Of Intangibles
—
14.00
—
—
Other Non Cash Items
-49.00
+47.87%
-94.00
+40.51%
-158.00
-30.58%
-121.00
Stock Based Compensation
449.00
+4.42%
430.00
-30.08%
615.00
+12.02%
549.00
Provisionand Write Offof Assets
230.00
+55.41%
148.00
+85.00%
80.00
+8.11%
74.00
Asset Impairment Charge
13.00
0.00
-100.00%
1,378.00
+1540.48%
84.00
Deferred Tax
-14.00
-117.95%
78.00
+7900.00%
-1.00
+99.47%
-187.00
Deferred Income Tax
-14.00
-117.95%
78.00
+7900.00%
-1.00
+99.47%
-187.00
Operating Gains Losses
259.00
+131.02%
-835.00
+38.92%
-1,367.00
-146.64%
2,931.00
Gain Loss On Investment Securities
123.00
—
—
—
Net Foreign Currency Exchange Gain Loss
-57.00
-400.00%
19.00
+416.67%
-6.00
-150.00%
12.00
Change In Working Capital
-117.00
+29.52%
-166.00
-185.13%
195.00
+296.97%
-99.00
Change In Receivables
-360.00
-56.52%
-230.00
-298.28%
116.00
+190.63%
-128.00
Changes In Account Receivables
-360.00
-56.52%
-230.00
-298.28%
116.00
+190.63%
-128.00
Change In Prepaid Assets
—
—
—
—
Change In Payables And Accrued Expense
262.00
+138.18%
110.00
+59.42%
69.00
+146.43%
28.00
Change In Other Working Capital
19.00
-26.92%
26.00
-56.67%
60.00
+87.50%
32.00
Change In Other Current Assets
-38.00
+47.22%
-72.00
-44.00%
-50.00
-61.29%
-31.00
Investing Cash Flow
-1,190.00
+24.97%
-1,586.00
-27.49%
-1,244.00
-73.02%
-719.00
Cash Flow From Continuing Investing Activities
-1,190.00
+24.97%
-1,586.00
-27.49%
-1,244.00
-73.02%
-719.00
Net PPE Purchase And Sale
-26.00
-36.84%
-19.00
+51.28%
-39.00
+22.00%
-50.00
Purchase Of PPE
-26.00
-36.84%
-19.00
+51.28%
-39.00
+22.00%
-50.00
Capital Expenditure
-26.00
-36.84%
-19.00
+51.28%
-39.00
+22.00%
-50.00
Net Investment Purchase And Sale
-488.00
+48.03%
-939.00
-274.10%
-251.00
-113.36%
1,879.00
Purchase Of Investment
-7,040.00
+16.15%
-8,396.00
-43.74%
-5,841.00
-16.56%
-5,011.00
Sale Of Investment
6,552.00
-12.14%
7,457.00
+33.40%
5,590.00
-18.87%
6,890.00
Net Business Purchase And Sale
-155.00
+7.19%
-167.00
+57.72%
-395.00
+83.47%
-2,389.00
Purchase Of Business
-155.00
+7.19%
-167.00
+57.72%
-395.00
+83.47%
-2,389.00
Net Intangibles Purchase And Sale
—
—
—
—
Purchase Of Intangibles
—
—
—
—
Net Other Investing Changes
-521.00
-13.02%
-461.00
+17.53%
-559.00
-251.57%
-159.00
Financing Cash Flow
-811.00
-1429.51%
61.00
+1.67%
60.00
+233.33%
18.00
Cash Flow From Continuing Financing Activities
-811.00
-1429.51%
61.00
+1.67%
60.00
+233.33%
18.00
Net Issuance Payments Of Debt
—
—
—
—
Issuance Of Debt
—
—
—
—
Long Term Debt Issuance
—
—
—
—
Net Long Term Debt Issuance
—
—
—
—
Net Common Stock Issuance
—
—
—
0.00
Proceeds From Stock Option Exercised
232.00
+280.33%
61.00
+1.67%
60.00
+233.33%
18.00
Net Other Financing Charges
-1,043.00
—
—
—
Changes In Cash
32.00
-64.84%
91.00
+137.92%
-240.00
+71.33%
-837.00
Effect Of Exchange Rate Changes
15.00
+350.00%
-6.00
-250.00%
4.00
+123.53%
-17.00
Beginning Cash Position
1,498.00
+6.02%
1,413.00
-14.31%
1,649.00
-34.12%
2,503.00
End Cash Position
1,545.00
+3.14%
1,498.00
+6.02%
1,413.00
-14.31%
1,649.00
Free Cash Flow
2,007.00
+25.67%
1,597.00
+76.46%
905.00
+586.56%
-186.00
Interest Paid Supplemental Data
1.00
+0.00%
1.00
+0.00%
1.00
+0.00%
1.00
Income Tax Paid Supplemental Data
194.00
+67.24%
116.00
+132.00%
50.00
+85.19%
27.00
Common Stock Issuance
—
—
—
0.00
Earnings Losses From Equity Investments
193.00
+122.60%
-854.00
+37.25%
-1,361.00
-146.63%
2,919.00
Issuance Of Capital Stock
—
—
—
0.00
SEC Filings

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

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