Shopify/$SHOP
1D1W1M3M6MYTD1Y5YMAX
Capital at risk
About Shopify
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
- Ticker
- $SHOP
- Sector
- Business services
- Primary listing
- NASDAQ
- Employees
- 7,600
- Headquarters
- Ottawa, Canada
- Website
- www.shopify.com
Shopify Metrics
BasicAdvanced
$222B
116.43
$1.48
2.59
-
Price and volume
Market cap
$222B
Beta
2.59
52-week high
$182.19
52-week low
$94.00
Average daily volume
9.6M
Financial strength
Current ratio
5.353
Quick ratio
3.718
Long term debt to equity
0.013
Total debt to equity
0.014
Profitability
EBITDA (TTM)
2,395
Gross margin (TTM)
47.77%
Net profit margin (TTM)
14.53%
Operating margin (TTM)
17.83%
Effective tax rate (TTM)
17.64%
Revenue per employee (TTM)
$1,750,000
Management effectiveness
Return on assets (TTM)
10.19%
Return on equity (TTM)
15.54%
Valuation
Price to earnings (TTM)
116.429
Price to revenue (TTM)
16.904
Price to book
17.53
Price to tangible book (TTM)
18.28
Price to free cash flow (TTM)
95.366
Free cash flow yield (TTM)
1.05%
Free cash flow per share (TTM)
1.809
Growth
Revenue change (TTM)
32.50%
Earnings per share change (TTM)
-17.05%
3-year revenue growth (CAGR)
28.16%
10-year revenue growth (CAGR)
46.96%
3-year earnings per share growth (CAGR)
-2.29%
10-year earnings per share growth (CAGR)
45.09%
What the Analysts think about Shopify
Analyst ratings (Buy, Hold, Sell) for Shopify stock.
Analyst projections of the future price of Shopify stock.
Bulls say / Bears say
Shopify is still growing at an unusually high rate for its scale: Q2 revenue rose 34%, GMV 32%, and subscription and merchant solutions grew 22% and 37%. Management then guided to low-thirties revenue growth for Q3, suggesting the momentum is not confined to one quarter. (Shopify, Financial Times)
The model is converting growth into cash: Q2 free cash flow rose 55% to $654m, an 18% margin, while operating income increased 68% to $488m. Q3 guidance calls for operating expenses at 33%-34% of revenue and free-cash-flow margin in the high-teens to low-twenties, pointing to further operating leverage. (Shopify, Financial Times)
Shopify is building a distribution layer for AI shopping rather than waiting for search traffic to disappear: it has opened its Catalog and UCP tools to developers and connected merchants to ChatGPT, Copilot, Google AI and Meta's Muse. AI-driven traffic and orders to Shopify stores roughly tripled in Q2, so this could expand discovery and payment volume if the early channel becomes material. (Shopify, Shopify)
The shares are priced for sustained near-perfect execution: Bloomberg reported Shopify at about 95 times forward earnings when it received a sell call, while later analysis still put the forward multiple near 77 times. At that valuation, even a modest slowdown in growth or profitability could cause a sharp de-rating. (Bloomberg, Seeking Alpha)
Growth is shifting towards the lower-margin Merchant Solutions segment: it grew 37% in Q2 against 22% for subscriptions, pushing consolidated gross margin down to 47.7% from 48.6%. Management also guided for Q3 gross profit growth in the mid-to-high twenties, below its low-thirties revenue-growth forecast. (Shopify, Financial Times)
AI commerce has promise but has not yet proved it can generate material incremental economics for Shopify: management said the volume remains small relative to its existing GMV, while external agents decide which products to display and how to rank them. That leaves Shopify exposed to agents capturing customer relationships or bargaining power even as AI traffic grows. (Digital Commerce 360, Shopify)
Data summarised monthly by Lightyear AI. Last updated on 28 Sept 2026.
Shopify Financial Performance
Revenues and expenses
Shopify Earnings Performance
Company profitability
Upcoming events
No upcoming events
Shopify News
AllArticlesVideos
Funds containing Shopify
AllEURGBPUSD
Fund name | Fund size | $SHOP weighting |
|---|---|---|
iShares MSCI Canada€SXR2 | €2.1B | 7.00% |
iShares MSCI Canada£CSCA | £1.8B | 7.00% |
iShares Digitalisation$DGTL | $793M | 3.99% |
iShares Digitalisation£DGIT | £585M | 3.88% |
L&G Artificial Intelligence£AIAG | $2.1B | 2.06% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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