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SHOPIFY INC.
Nasdaq · CIK 1594805
Last close151.39
Daily change+2.30 (1.54%)
10 Years gain+3418.24%
Dividends TTM0
Dividend yield0.00%
Fundamental Analysis
SHOP · STANDARD
SIC 7372 · Services-Prepackaged Software · Fiscal year end 1231
Fundamental
76.9Momentum
63.0Acceleration
63.0Confidence
85.0Annual Revenue4
Quarterly Revenue8
Annual CFO4
Balance SheetAvailable
RankingEligible
Score Breakdown
Growth24.7 / 25
Quality18.7 / 25
Capital Efficiency14.7 / 20
Balance Sheet15.0 / 15
Shareholder Economics0.0 / 10
Forward Indicators3.9 / 5
Signals
Operating leverageOperating margin improved by 2.6041 percentage points.
FCF growthFree cash flow grew 52.6316%.
Strong operating leverageOperating income is growing faster than revenue while operating margin expands.
Warnings
Gross margin compression · MEDIUMGross margin compressed by 2.4497 percentage points.
Key Metrics
Revenue Growth TTM45.67%OK
Revenue CAGR 3Y27.31%OK
Gross Margin48.44%OK
Operating Margin12.25%OK
FCF Margin16.77%OK
FCF Growth52.63%OK
ROIC17.9%OK
Incremental Operating Margin 3Yn/aNOT_MEANINGFUL
Net Debt / CFO-2.38xOK
Diluted Share Growth 1Y0.2%OK
SBC / Revenuen/aMISSING
SBC / FCFn/aNOT_MEANINGFUL
Financial History
| Period | Revenue | Gross Profit | Operating Income | CFO | FCF | Gross Margin | Op Margin | FCF Margin | ROIC | Shares |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 FY Dec 31, 2025 | $11.56B | $5.56B | $1.47B | $2.03B | $2.01B | 48.07% | 12.7% | 17.37% | 17.39% | 1.3B |
| 2025 FY Dec 31, 2024 | $8.88B | $4.47B | $1.08B | $1.62B | $1.60B | 50.36% | 12.11% | 17.98% | 19.22% | 1.3B |
| 2025 FY Dec 31, 2023 | $7.06B | $3.52B | -$1.42B | $944.00M | $905.00M | 49.79% | -20.09% | 12.82% | -19% | 1.3B |
| 2024 FY Dec 31, 2022 | $5.60B | $2.75B | -$822.00M | -$136.00M | -$186.00M | 49.18% | -14.68% | -3.32% | n/a | 1.27B |
Formula Trace
| Metric | Value | Formula | Status | Source |
|---|---|---|---|---|
| Revenue TTM | $12.28B | sum latest 4 fiscal quarters Revenue | OK | 0001594805-26-000047, 0001594805-25-000089 |
| Revenue Growth TTM | 45.67% | Revenue_TTM / Revenue_TTM_1Y_ago - 1 | OK | 0001594805-26-000047, 0001594805-25-000089 |
| Revenue CAGR 3Y | 27.31% | (Revenue_current / Revenue_3Y_ago)^(1/3) - 1 | OK | 0001594805-26-000007 |
| Revenue CAGR 5Y | n/a | (Revenue_current / Revenue_5Y_ago)^(1/5) - 1 | INSUFFICIENT_HISTORY | 0001594805-26-000007 |
| Gross Profit CAGR 3Y | 26.35% | (GrossProfit_current / GrossProfit_3Y_ago)^(1/3) - 1 | OK | 0001594805-26-000007 |
| Operating Income Growth | 84.99% | OperatingIncome_current / OperatingIncome_prior_year - 1 | OK | 0001594805-26-000047, 0001594805-25-000089 |
| FCF Growth | 52.63% | FCF_current / FCF_prior_year - 1 | OK | 0001594805-26-000047, 0001594805-25-000089 |
| Revenue Growth Acceleration | n/a | 0.5*(Q0-Q1)+0.3*(Q1-Q2)+0.2*(Q2-Q3) | INSUFFICIENT_HISTORY | derived |
| Gross Profit Acceleration | n/a | 0.5*(Q0-Q1)+0.3*(Q1-Q2)+0.2*(Q2-Q3) | INSUFFICIENT_HISTORY | derived |
| Operating Income Acceleration | n/a | 0.5*(Q0-Q1)+0.3*(Q1-Q2)+0.2*(Q2-Q3) | INSUFFICIENT_HISTORY | derived |
| FCF Acceleration | n/a | 0.5*(Q0-Q1)+0.3*(Q1-Q2)+0.2*(Q2-Q3) | INSUFFICIENT_HISTORY | derived |
| Gross Margin | 48.44% | Gross Profit / Revenue | OK | 0001594805-26-000047, 0001594805-25-000089 |
| Operating Margin | 12.25% | Operating Income / Revenue | OK | 0001594805-26-000047, 0001594805-25-000089 |
| FCF Margin | 16.77% | (CFO - CapEx) / Revenue | OK | 0001594805-26-000047, 0001594805-25-000089 |
| CFO / Net Income | 0.99x | CFO / Net Income | OK | 0001594805-26-000047, 0001594805-25-000089 |
| FCF / Net Income | 0.98x | FCF / Net Income | OK | 0001594805-26-000047, 0001594805-25-000089 |
| ROIC | 17.9% | NOPAT / Average Invested Capital | OK | 0001594805-26-000047, 0001594805-25-000089 |
| Net Debt / CFO | -2.38x | Net Debt / CFO | OK | 0001594805-26-000047, 0001594805-25-000089 |