Shopify Inc. SHOP NDXAI
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.
READ MORE ›Market & Price
Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Compounding revenue at 27.3% over 5 years.
- Profit CAGR of 45.2% over 5 years.
- Generates positive free cash flow.
CONS
- Trading at a high P/E of 116.4.
- Trading 33.7% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Technology).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SHOP Shopify Inc. NDXAI | 118.71 | 116.38 | $154.04B | - | 13.66% | 11.31% | 27.31% | 45.19% |
| 2 | NVDA NVIDIA Corporation NDXSPXAI | 211.14 | 32.38 | $5.11T | 0.47% | 81.14% | 114.29% | 100.05% | 201.80% |
| 3 | AAPL Apple Inc. NDXSPX | 312.06 | 37.73 | $4.58T | 0.35% | 68.72% | 141.47% | 1.81% | 3.92% |
| 4 | MSFT Microsoft Corporation NDXSPXAI | 450.24 | 26.82 | $3.34T | 0.81% | 26.37% | 34.01% | 12.42% | 11.87% |
| 5 | TSM Taiwan Semiconductor Manufacturing Company Limited AI | 418.45 | 35.86 | $2.17T | 0.91% | 32.04% | 36.21% | 18.94% | 19.57% |
| 6 | MU Micron Technology, Inc. NDXSPXAI | 971.00 | 45.87 | $1.10T | 0.06% | 14.20% | 39.82% | 6.71% | -0.57% |
| 7 | AMD Advanced Micro Devices, Inc. NDXSPXAI | 516.10 | 172.61 | $841.55B | - | 6.33% | 8.06% | 13.64% | 48.64% |
| 8 | ORCL Oracle Corporation SPXAI | 225.78 | 40.46 | $649.35B | 0.89% | 13.07% | 57.57% | 10.59% | 22.81% |
| 9 | ASML ASML Holding N.V. NDXAI | 1,612.76 | 53.76 | $621.59B | 0.54% | 43.81% | 52.24% | 15.55% | 19.55% |
Quarterly Results
Figures in USD.
| Metric | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.86B | 2.04B | - | - | 2.36B | 2.68B | 2.84B | 3.67B | 3.17B |
| Cost of Revenue | - | - | - | - | 1.19B | 1.38B | 1.45B | 1.98B | 1.62B |
| Gross Profit | 957.00M | 1.04B | - | - | 1.17B | 1.30B | 1.39B | 1.69B | 1.55B |
| Operating Expenses | - | - | - | - | 891.00M | 931.00M | 900.00M | 948.00M | 1.05B |
| Operating Income | 86.00M | 241.00M | - | - | 278.00M | 371.00M | 491.00M | 745.00M | 498.00M |
| EBITDA | - | - | - | - | 286.00M | 379.00M | 499.00M | 752.00M | 505.00M |
| Interest Expense | - | - | - | - | - | - | - | - | - |
| Pretax Income | - | - | - | - | -770.00M | 1.08B | 308.00M | 892.00M | -634.00M |
| Tax Provision | - | - | - | - | -88.00M | 173.00M | 44.00M | 149.00M | -53.00M |
| Net Income | -273.00M | 171.00M | - | - | -682.00M | 906.00M | 264.00M | 743.00M | -581.00M |
| Diluted EPS | -0.21 | 0.13 | - | - | -0.53 | 0.69 | 0.20 | 0.57 | -0.45 |
| R&D Expense | 335.00M | 349.00M | 332.00M | - | 377.00M | 394.00M | 375.00M | - | 437.00M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | - | 5.60B | 7.06B | 8.88B | 11.56B |
| Cost of Revenue | - | 2.85B | 3.54B | 4.41B | 6.00B |
| Gross Profit | - | 2.75B | 3.52B | 4.47B | 5.55B |
| Operating Expenses | - | 3.44B | 3.44B | 3.17B | 3.67B |
| Operating Income | - | -687.00M | 74.00M | 1.30B | 1.89B |
| EBITDA | - | -594.00M | 144.00M | 1.34B | 1.92B |
| Interest Expense | 1.15M | 1.15M | - | - | - |
| Pretax Income | - | -3.62B | 185.00M | 2.23B | 1.51B |
| Tax Provision | - | -163.00M | 53.00M | 209.00M | 278.00M |
| Net Income | - | -3.46B | 132.00M | 2.02B | 1.23B |
| Diluted EPS | 2.29 | -2.73 | 0.10 | 1.56 | - |
| R&D Expense | - | 1.50B | 1.73B | 1.37B | 1.54B |
Compounded Sales Growth
| 5 Years: | 27.31% |
| 1 Year: | 34.30% |
Compounded Profit Growth
| 5 Years: | 45.19% |
| 1 Year: | - |
Stock Price Performance
| 1 Year: | +10.72% |
| 6 Months: | -24.57% |
| 3 Months: | -1.67% |
| 1 Month: | -2.10% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Total Assets | - | 10.76B | 11.30B | 13.92B | 15.19B |
| Current Assets | - | 6.05B | 6.28B | 7.25B | 8.30B |
| Cash & Equivalents | - | 1.65B | 1.41B | 1.49B | 1.53B |
| Inventory | - | - | 19.00M | 26.00M | 21.00M |
| Receivables | - | 500.00M | 206.00M | 280.00M | 421.00M |
| Total Liabilities | - | 2.52B | 2.23B | 2.37B | 1.72B |
| Current Liabilities | - | 856.00M | 898.00M | 1.96B | 1.39B |
| Long Term Debt | 910.96M | 913.00M | 916.00M | - | - |
| Total Debt | - | 1.40B | 1.15B | 1.13B | 188.00M |
| Total Equity | - | 8.24B | 9.07B | 11.56B | 13.47B |
| Shares Outstanding | - | 1.28B | 1.29B | 1.29B | 1.30B |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | - | -136.00M | 944.00M | 1.62B | 2.03B |
| Investing Cash Flow | - | -719.00M | -1.24B | -1.59B | -1.19B |
| Financing Cash Flow | - | 18.00M | 60.00M | 61.00M | -811.00M |
| Capital Expenditure | - | -50.00M | -39.00M | -19.00M | -26.00M |
| Free Cash Flow | - | -186.00M | 905.00M | 1.60B | 2.01B |
| Net Change in Cash | - | -837.00M | -240.00M | 91.00M | 32.00M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Gross Margin % | - | 49.2% | 49.8% | 50.4% | 48.1% |
| Operating Margin % | - | -12.3% | 1.0% | 14.7% | 16.3% |
| Net Margin % | - | -61.8% | 1.9% | 22.7% | 10.7% |
| ROE % | - | -42.0% | 1.5% | 17.5% | 9.1% |
| ROCE % | - | -6.9% | 0.7% | 10.9% | 13.7% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Capital International Investors | 4.10% | 50.06M | $5.94B |
| 2 | FMR, LLC | 3.76% | 45.83M | $5.44B |
| 3 | Vanguard Capital Management LLC | 2.77% | 33.74M | $4.00B |
| 4 | Capital World Investors | 2.76% | 33.70M | $4.00B |
| 5 | BAILLIE GIFFORD & CO | 2.38% | 29.02M | $3.45B |
| 6 | Price (T.Rowe) Associates Inc | 2.05% | 25.02M | $2.97B |
| 7 | Morgan Stanley | 2.03% | 24.70M | $2.93B |
| 8 | Royal Bank of Canada | 1.78% | 21.66M | $2.57B |
| 9 | FIL LTD | 1.49% | 18.23M | $2.16B |
| 10 | JPMORGAN CHASE & CO | 1.43% | 17.46M | $2.07B |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for SHOP
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