SHOP - Shopify Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$156.79
DETAILS
HIGH:
$200.00
LOW:
$115.00
MEDIAN:
$155.00
CONSENSUS:
$156.79
UPSIDE:
52.22%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||
| Revenue | 11,556 | 8,880 | 7,060 | 5,600 | 4,611.9 | 2,929.5 | 1,578.2 | 1,073.2 | 673.3 | 389.3 | 205.2 | 105.0 | 50.3 | 23.7 |
| Cost of Revenue | 6,001 | 4,408 | 3,545 | 2,846 | 2,130.7 | 1,388.0 | 712.5 | 477.0 | 293.1 | 179.8 | 94.2 | 43.2 | 13.5 | 4.8 |
| Gross Profit | 5,555 | 4,472 | 3,515 | 2,754 | 2,481.1 | 1,541.5 | 865.6 | 596.3 | 380.3 | 209.5 | 111.1 | 61.8 | 36.7 | 18.9 |
| Operating Expenses | ||||||||||||||
| R&D Expenses | 1,536 | 1,367 | 1,730 | 1,503 | 854.4 | 552.1 | 355.0 | 230.7 | 136.0 | 74.3 | 39.7 | 25.9 | 13.7 | 6.5 |
| SG&A Expenses | 2,134 | 1,803 | 1,711 | 1,938 | 1,276.4 | 847.4 | 626.6 | 457.5 | 293.4 | 172.3 | 89.1 | 57.5 | 27.3 | 14.0 |
| Other Expenses | 417 | 227 | 1,492 | 135 | 81.7 | 51.8 | 25.2 | (0.4) | (0.2) | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 4,087 | 3,397 | 4,933 | 3,576 | 2,212.5 | 1,451.4 | 1,006.8 | 688.2 | 429.4 | 246.7 | 128.8 | 83.4 | 41.0 | 20.5 |
| Operating Income | ||||||||||||||
| Operating Income | 1,468 | 1,075 | (1,418) | (822) | 268.6 | 90.2 | (141.1) | (91.9) | (49.2) | (37.2) | (17.8) | (21.6) | (4.3) | (1.5) |
| Interest Expense | 0 | 0 | 0 | 1.1 | 3.5 | 9.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 331 | 308 | 241 | 76.0 | 15.4 | 24.7 | 48.2 | 29.4 | 7.8 | 1.5 | 0.2 | 0.1 | 0.0 | 0.1 |
| Profitability | ||||||||||||||
| EBITDA | 1,499 | 1,338 | 144 | (594) | 3,208.1 | 319.0 | (60.2) | (64.9) | (25.8) | (23.2) | (10.5) | (16.9) | (2.5) | (0.7) |
| EBIT | 1,468 | 1,302 | 74 | (687) | 3,141.7 | 248.9 | (95.8) | (91.9) | (49.2) | (37.2) | (17.8) | (21.6) | (4.3) | (1.5) |
| Income Before Tax | 1,509 | 2,228 | 185 | (3,623) | 3,140.6 | 240.4 | (95.8) | (64.6) | (40.0) | (35.4) | (18.8) | (22.3) | (4.8) | (1.2) |
| Income Tax Expense | 278 | 209 | 53 | (163) | 225.9 | (79.1) | 29.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | 1,231 | 2,019 | 132 | (3,460) | 2,914.7 | 319.5 | (124.8) | (64.6) | (40.0) | (35.4) | (18.8) | (22.3) | (4.8) | (1.2) |
| Per Share Data | ||||||||||||||
| EPS (Basic) | 0.95 | 1.56 | 0.10 | -2.73 | 2.32 | 0.27 | -0.11 | -0.06 | -0.04 | -0.04 | -0.03 | -0.03 | -0.01 | -0.00 |
| EPS (Diluted) | 0.94 | 1.55 | 0.10 | -2.73 | 2.27 | 0.26 | -0.11 | -0.06 | -0.04 | -0.04 | -0.03 | -0.03 | -0.01 | -0.00 |
| Shares Outstanding | 1,299.0 | 1,294.6 | 1,281.6 | 1,266.3 | 1,246.6 | 1,195.7 | 1,130.3 | 1,056.7 | 957.7 | 839.9 | 617.2 | 666.2 | 663.0 | 661.0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 1,534 | 1,498 | 1,413 | 1,649 | 2,503.0 | 2,703.6 | 649.9 | 410.7 | 141.7 | 84.0 |
| Short-Term Investments | 4,233 | 3,981 | 3,595 | 3,404 | 5,265.1 | 3,684.4 | 1,805.3 | 1,559.0 | 796.4 | 308.4 |
| Net Receivables | 2,370 | 1,655 | 1,155 | 857.5 | 667.0 | 421.5 | 240.7 | 133.2 | 69.0 | 21.5 |
| Inventory | 21 | 26 | 19 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 14 | 0 | 7 | 30 | 12.5 | 33.8 | 12.6 | 3.7 | 6.1 | 0.6 |
| Total Current Assets | 8,296 | 7,254 | 6,275 | 6,050 | 8,539.3 | 6,877.8 | 2,742.2 | 2,129.1 | 1,025.7 | 422.9 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 141 | 140 | 147 | 486 | 301.9 | 211.5 | 246.2 | 61.6 | 50.4 | 45.7 |
| Goodwill | 491 | 452 | 427 | 1,836 | 356.5 | 311.9 | 311.9 | 38.0 | 20.3 | 15.5 |
| Intangible Assets | 30 | 22 | 29 | 390 | 138.5 | 135.7 | 167.3 | 26.1 | 17.2 | 6.4 |
| Long-Term Investments | 6,159 | 5,998 | 4,377 | 1,954 | 3,955.5 | 173.5 | 2.5 | 0 | 0 | 0 |
| Other Non-Current Assets | 39 | 21 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 6,893 | 6,670 | 5,024 | 4,707 | 4,800.9 | 885.1 | 747.3 | 125.7 | 87.9 | 67.7 |
| Total Assets | 15,189 | 13,924 | 11,299 | 10,757 | 13,340.2 | 7,762.9 | 3,489.5 | 2,254.8 | 1,113.6 | 490.6 |
| Current Liabilities | ||||||||||
| Account Payables | 570 | 360 | 364 | 364 | 284.0 | 168.7 | 90.5 | 61.3 | 44.3 | 34.3 |
| Short-Term Debt | 0 | 918 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 300 | 283 | 302 | 296 | 216.8 | 107.8 | 56.7 | 39.2 | 30.7 | 20.2 |
| Other Current Liabilities | 169 | 112 | 58 | 84 | 77.8 | 61.9 | 32.4 | 26.5 | 5.8 | 5.8 |
| Total Current Liabilities | 1,392 | 1,956 | 898 | 856 | 702.7 | 438.3 | 316.4 | 138.7 | 94.8 | 66.5 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 0 | 0 | 916 | 913 | 911.0 | 758.0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 55 | 73 | 6 | 16 | 183.4 | 0 | 8.8 | 1.1 | 1.4 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Liabilities | 324 | 410 | 1,335 | 1,662 | 1,504.1 | 923.9 | 157.4 | 25.3 | 17.7 | 13.6 |
| Total Liabilities | 1,716 | 2,366 | 2,233 | 2,518 | 2,206.8 | 1,362.2 | 473.7 | 164.0 | 112.5 | 80.1 |
| Stockholders' Equity | ||||||||||
| Common Stock | 10,376 | 9,634 | 9,201 | 8,747 | 8,040.1 | 6,115.2 | 3,256.3 | 2,215.9 | 1,077.5 | 468.5 |
| Retained Earnings | 2,860 | 1,629 | (390) | (522) | 2,938.1 | 15.3 | (304.2) | (187.8) | (123.2) | (83.2) |
| Accumulated Other Comprehensive Income | 1 | (10) | 4 | (16) | (6.0) | 8.8 | 1.0 | (12.2) | 3.4 | (1.8) |
| Total Stockholders' Equity | 13,473 | 11,558 | 9,066 | 8,239 | 11,133.3 | 6,400.7 | 3,015.7 | 2,090.8 | 1,001.1 | 410.5 |
| Total Liabilities & Equity | 15,189 | 13,924 | 11,299 | 10,757 | 13,340.2 | 7,762.9 | 3,489.5 | 2,254.8 | 1,113.6 | 490.6 |
| Debt Metrics | ||||||||||
| Total Debt | 188 | 1,126 | 1,150 | 1,396 | 1,173.5 | 912.9 | 151.7 | 24.9 | 16.5 | 13.9 |
| Net Debt | (1,346) | (372) | (263) | (253) | (1,329.5) | (1,790.7) | (498.2) | (385.8) | (125.2) | (70.1) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 1,231 | 2,019 | 132 | (3,460) | 2,914.7 | 319.5 | (124.8) | (64.6) | (40.0) | (35.4) |
| Depreciation & Amortization | 31 | 36 | 70 | 93 | 66.3 | 70.1 | 35.7 | 27.1 | 23.4 | 14.0 |
| Stock-Based Compensation | 449 | 430 | 615 | 549 | 330.8 | 246.9 | 158.5 | 95.7 | 49.2 | 22.9 |
| Change in Working Capital | (117) | (166) | 195 | (99) | (129.6) | (93.7) | 18.1 | (56.1) | (25.7) | 12.2 |
| Other Non-Cash Items | 453 | (781) | (67) | 2,968 | (2,837.3) | (73.0) | 21.1 | 7.2 | 1.0 | 0.3 |
| Operating Cash Flow | 2,033 | 1,616 | 944 | (136) | 535.7 | 425.0 | 70.6 | 9.3 | 7.9 | 14.0 |
| Investing Activities | ||||||||||
| Capital Expenditure | (26) | (19) | (39) | (50) | (50.8) | (42.0) | (62.4) | (41.5) | (24.3) | (26.2) |
| Acquisitions | (56) | (167) | (395) | (2,389) | (709.9) | (11.1) | (265.5) | (19.4) | (15.7) | (14.1) |
| Purchases of Investments | (7,139) | (8,396) | (5,841) | (5,011) | (7,337.4) | (5,600.2) | (2,718.6) | (2,448.0) | (1,129.3) | (369.2) |
| Sales/Maturities of Investments | 6,552 | 7,457 | 5,590 | 6,890 | 5,750.2 | 3,721.4 | 2,477.0 | 1,698.3 | 642.1 | 139.9 |
| Other Investing Activities | (521) | (461) | (559) | (159) | (31.3) | (0.3) | (5.6) | (13.6) | (4.2) | (2.5) |
| Investing Cash Flow | (1,190) | (1,586) | (1,244) | (719) | (2,379.1) | (1,931.8) | (569.5) | (810.6) | (527.2) | (269.7) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 908.0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (1,043) | 2.9 | 60 | 18 | 108.6 | 70.8 | 48.3 | 30.5 | 14.8 | 4.2 |
| Financing Cash Flow | (811) | 61 | 60 | 18 | 1,649.8 | 3,557.3 | 736.4 | 1,072.2 | 574.8 | 228.6 |
| Cash Position | ||||||||||
| Net Change in Cash | 47 | 85 | (236) | (854) | (200.6) | 2,053.7 | 239.2 | 269.0 | 57.7 | (26.1) |
| Cash at Beginning | 1,498 | 1,413 | 1,649 | 2,503 | 2,703.6 | 649.9 | 410.7 | 141.7 | 84.0 | 110.1 |
| Cash at End | 1,545 | 1,498 | 1,413 | 1,649 | 2,503.0 | 2,703.6 | 649.9 | 410.7 | 141.7 | 84.0 |
| Free Cash Flow | 2,007 | 1,597 | 905 | (186) | 484.9 | 383.0 | 8.2 | (32.2) | (16.4) | (12.2) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||||
| Revenue | 11,556 | 8,880 | 7,060 | 5,600 | 4,611.9 | 2,929.5 | 1,578.2 | 1,073.2 | 673.3 | 389.3 | 205.2 | 105.0 | 50.3 | 23.7 |
| Gross Profit | 5,555 | 4,472 | 3,515 | 2,754 | 2,481.1 | 1,541.5 | 865.6 | 596.3 | 380.3 | 209.5 | 111.1 | 61.8 | 36.7 | 18.9 |
| Operating Income | 1,468 | 1,075 | (1,418) | (822) | 268.6 | 90.2 | (141.1) | (91.9) | (49.2) | (37.2) | (17.8) | (21.6) | (4.3) | (1.5) |
| Net Income | 1,231 | 2,019 | 132 | (3,460) | 2,914.7 | 319.5 | (124.8) | (64.6) | (40.0) | (35.4) | (18.8) | (22.3) | (4.8) | (1.2) |
| EPS (Diluted) | 0.94 | 1.55 | 0.10 | -2.73 | 2.27 | 0.26 | -0.11 | -0.06 | -0.04 | -0.04 | -0.03 | -0.03 | -0.01 | -0.00 |
| Balance Sheet | ||||||||||||||
| Cash & Equivalents | 1,534 | 1,498 | 1,413 | 1,649 | 2,503.0 | 2,703.6 | 649.9 | 410.7 | 141.7 | 84.0 | ||||
| Total Assets | 15,189 | 13,924 | 11,299 | 10,757 | 13,340.2 | 7,762.9 | 3,489.5 | 2,254.8 | 1,113.6 | 490.6 | ||||
| Total Debt | 188 | 1,126 | 1,150 | 1,396 | 1,173.5 | 912.9 | 151.7 | 24.9 | 16.5 | 13.9 | ||||
| Stockholders' Equity | 13,473 | 11,558 | 9,066 | 8,239 | 11,133.3 | 6,400.7 | 3,015.7 | 2,090.8 | 1,001.1 | 410.5 | ||||
| Cash Flow | ||||||||||||||
| Operating Cash Flow | 2,033 | 1,616 | 944 | (136) | 535.7 | 425.0 | 70.6 | 9.3 | 7.9 | 14.0 | ||||
| Capital Expenditure | (26) | (19) | (39) | (50) | (50.8) | (42.0) | (62.4) | (41.5) | (24.3) | (26.2) | ||||
| Free Cash Flow | 2,007 | 1,597 | 905 | (186) | 484.9 | 383.0 | 8.2 | (32.2) | (16.4) | (12.2) | ||||