The share-count cross-check uses third-party data retrieved 2026-10-31. Each calculator shows the count it actually uses. Historical statements retain their reported share counts.
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Funds761 adding, 810 cuttingOf 106 active managers that changed their stake, 51 added; quarter to June 30, 2026Fund buyers and sellers→
Shopify's revenue over the twelve months to September 2026 reached $14.2bn, up 32.5% on a year earlier and little changed in pace from the previous quarter. Among the technology companies we cover, that growth ranks 101st of 561. Profitability improved too: the operating margin widened to 14.6% from 12.2%, while the free-cash-flow margin held steady at 18.8%. Our model value has eased from $73.04 to $71.36 a share, well below the current share price of $156. We keep the rating at Sell. At today's price, the market appears to be pricing in cash-flow growth of about 35.5% a year for the next five years, a notably faster pace than the 25.2% annual revenue growth Shopify has actually delivered.
Revenue for the twelve months to June 2026 was $13.3bn. Free-cash-flow margin held at 17.7%. It passes 1 of our 1 financial-health checks. Our cash-flow model value is $73.04 a share, against a share price of $157.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are
as published at the time. Not investment advice.
The Fundamentalytics view
Next results ~November 3, 2026 (estimated)
Shopify Inc.'s trailing-twelve-month revenue grew 32.5% year on year, with a free-cash-flow margin of 18.8%. Where it stands out: revenue growth of 32.5% ranks 101 of 561 technology companies we cover.
Our discounted-cash-flow model values the business at ~$71 per share in the base case (~$55–$92 across growth scenarios) — model values under stated assumptions, not a price target.
Current signal Free cash flow diverging from earnings: TTM free cash flow grew 39.8% while net income grew 19.4%: a 20pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our
methodology. Observations, not recommendations.
Shopify Inc. said it issued a press release on November 3, 2026, announcing its financial results for the quarter ended September 30, 2026. The company filed an 8-K with the SEC to disclose the information. The release included the press release as an exhibit.
Shopify Inc. reports on Tuesday 3 November, before the market opens. Analysts expect full-year EPS of $1.91; these are the numbers and trends the report will test.
Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.
The share price implies about 35.5% a year of cash-flow growth for five years.That is faster than the 25.2% a year revenue growth Shopify has delivered.
Priced in35.5%
Last 12 months32.5%
5 years a year25.2%
Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which
the model value equals the share price ($142.12, Nov 3, 2026). Cash-flow growth then fades to 2.5% a
year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies
How we got here: a discounted-cash-flow model of Shopify Inc.'s free cash flow after
stock-based pay with after-tax interest added back ($1.8B, FY2026 Q3
TTM), growing 26.2% and 22.3% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower
and higher growth cases span ~$55–~$92
; that spread sets a 25% margin before we rate Buy or Sell.
Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating
meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General
research, not personal advice — it does not consider your circumstances. Prices can
fall as well as rise.
Our value per share comes from a discounted-cash-flow model of Shopify Inc.'s free cash
flow after stock-based pay (
$1.8B, FY2026 Q3 TTM, with after-tax interest added back): growth for
five years as below (the first two years from forecasts, guidance and the company's
record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims
subtracted. These are model values under
stated assumptions, not price targets or recommendations.
Valuation models
We value Shopify Inc. as an operating company, with every model that fits that kind of
business.
Cost of equity 12.3%: the 10-year Treasury yield (4.9%) plus a
beta of 1.63 times a 4.5% equity risk premium.
Value per share by model
Model
Value per share
In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims.
~$71 ~$55–$92
Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts.
~$25 ~$18–$31
Left out: out of range vs price (0.18x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts.
—
Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years.
~$15 ~$11–$22
Left out: out of range vs price (0.11x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns.
~$14 ~$13–$16
Left out: out of range vs price (0.10x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out.
~$71 ~$55–$92
1 model
Different models fail in different ways, so where several apply we average them rather than
trust one. Peer-based models compare Shopify Inc. with Technology sector in our coverage, using
third-party market data. Model values are estimates under stated assumptions, updated as new
filings arrive; not price targets or investment advice. How each model works.
What moves the value
Revenue growth 5 points lower ▼ −23%
Revenue growth 5 points higher ▲ +29%
Free-cash-flow margin 1 point lower ▼ −5%
Last year's free-cash-flow margin change, if it persists ▲ +5%
Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth →
−5% growth
0% growth
5% growth
10% growth
15% growth
20% growth
7%
$23
$31
$40
$52
$68
$89
8.5%
$19
$24
$31
$40
$51
$66
10%
$16
$20
$25
$32
$41
$52
Valuation multiples over time Market data may be delayed
Shopify Inc.: market value and multiples by fiscal year
At fiscal year end
2017
2018
2019
2020
2021
2022
2023
2024
2025
Now
Share price
$10.10
$13.85
$39.76
$113.19
$137.74
$34.71
$77.90
$106.33
$160.97
$156.22
Market value
$9.7bn
$14.6bn
$44.9bn
$139.8bn
$175.4bn
$44.0bn
$100.9bn
$138.4bn
$210.1bn
$202.9bn
+ Net debt (− = net cash)
−$142m
−$411m
−$650m
−$1.9bn
−$1.6bn
−$736m
−$497m
−$580m
−$1.5bn
−$1.9bn
Enterprise value
$9.5bn
$14.2bn
$44.3bn
$137.8bn
$173.8bn
$43.2bn
$100.4bn
$137.8bn
$208.5bn
$201.0bn
Multiples
Price / sales
14.4x
13.6x
28.5x
47.7x
38.0x
7.8x
14.3x
15.6x
18.2x
14.3x
Price / earnings
—
—
—
n/m
60.2x
—
n/m
68.5x
170.6x
95.4x
Price / free cash flow
—
—
n/m
n/m
n/m
—
111.5x
86.7x
104.7x
76.2x
EV / EBITDA
—
—
—
n/m
n/m
—
—
124.0x
139.1x
95.9x
Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.
A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.
Forecasts and guidance
Next results: November 3, 2026, before the open.
Analysts expect revenue of $3.7bn and EPS of $0.46 (range $0.39 to $0.52) for the quarter.
Analysts' consensus
Shopify Inc.: consensus estimates
Fiscal year
EPS
Growth
Revenue
Growth
Current
$1.91
+34%
$15.3bn
+32%
Next
$2.46
+29%
$19.2bn
+26%
Next year's EPS estimate has moved +5.4% in 90 days, across 40 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is +3.6% on 90 days ago.
In the last 30 days, 3 analysts raised Shopify Inc.'s forecast and 0 cut it.
Consensus EPS forecastShopify Inc., last 90 days
Current fiscal year Next fiscal year
Average of analysts' published estimates (third-party data).
View chart data
Period
Current fiscal year
Next fiscal year
90 days ago
$1.85
$2.33
60 days ago
$1.91
$2.45
30 days ago
$1.91
$2.45
7 days ago
$1.91
$2.46
Now
$1.91
$2.46
Earnings against estimates
Shopify Inc.: reported EPS against the consensus estimate
Quarter to
Estimate
Actual
Surprise
Jun 2026
$0.40
$0.42
+5.1%
Mar 2026
$0.33
$0.36
+8.6%
Dec 2025
$0.51
$0.48
−5.7%
Sept 2025
$0.34
$0.34
+0.6%
Adjusted EPS as companies report it, against the average analyst estimate.
How our valuation uses these forecasts
Our cash-flow model grows Shopify Inc.'s revenue by +26.2% next year and +22.3% the
year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+28.8%, weight 70%)
and the company's own record (+20.0%, weight 30%)
. How the weights are set.
Analyst recommendations
54 analysts, Oct 2026
Buy4176%
Hold1222%
Sell12%
Monthly trend
Strong buy
Buy
Hold
Sell
Strong sell
Oct 202610311254
Sep 202611311154
Aug 202611301153
Jul 202610301152
Counts of recommendations published by analysts covering Shopify Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or
price target, and these are not Fundamentalytics ratings.
Positioning
Short interest
1.7%
of tradable shares
Days to cover
2.16
at average volume
Short interest, 1 month
+26%
to October 15, 2026
Held by institutions
73%
of shares
Held by insiders
0.2%
of shares
Employees
7,600
full time
Consensus figures average analysts' published estimates (third-party data); guidance is the company's own.
Neither is our forecast. Short
interest is reported twice a month and lags. Market data may be delayed.
This section is general information, not investment advice or a personal recommendation, and it does not
take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies
miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose
money. See our disclaimer.
Share-price performance
Market data may be delayed
Recent prices are available. Older price history and the statistics that need it are being loaded in the background.
What moved the share price
Last 12 months−10.1%
$173.86 on October 31, 2025 to $156.22
Shopify Inc.: share-price change split into its parts
Part
Then
Now
Effect
Revenue (last 12 months)
$10.0bn
$13.3bn
+32.5%
Net margin
23.4%
14.5%
−38.0%
P/E multiple
96.8x
105.7x
+9.2%
Share count
1306m
1304m
+0.1%
Biggest factor: net margin.
The effects multiply back to the price change exactly. Results are the last 12 months as
known on each date (filings assumed public 45 days after quarter end).
Return and risk by year
Shopify Inc.: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year
2021
2022
2023
2024
2025
2026 to date
Return
SHOP
+22%
−75%
+124%
+37%
+51%
−3%
Industry peers (median)
—
—
—
—
—
—
S&P 500
+29%
−18%
+26%
+25%
+18%
+11%
Months that ended higher
SHOP
67%
25%
67%
50%
67%
46%
S&P 500
75%
42%
67%
75%
75%
46%
Largest fall from a high during the year
SHOP
−29%
−81%
−34%
−42%
−41%
−43%
S&P 500
−5%
−25%
−10%
−8%
−19%
−9%
Worst fall since November 2, 2015: 85% from November 19, 2021 to October 11, 2022. Getting back needed a 559% gain, reached on October 24, 2025, 1109 days after the low.
Price behaviour
52-week range
$95.40 – $179.22
From 52-week high
−12.8%
vs 50-day average
+2.2%
vs 200-day average
+20.3%
Volatility (1 year)
59%
Beta vs S&P 500
1.85
Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares
typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.
Share price after results
Next day
3 up, 4 down
typical move ±11.2%
After a week
4 up, 3 down
typical move ±13.7%
After a month
3 up, 4 down
typical move ±13.0%
Shopify Inc.: share-price change after each results release
Results released
Next day
S&P 500 next day
5 days
21 days
August 5, 2026
+19.6%
−0.4%
+22.0%
+18.3%
May 5, 2026
−17.3%
+2.2%
−21.7%
−9.0%
February 11, 2026
−13.0%
−1.6%
−2.7%
−3.4%
November 4, 2025
−5.8%
−0.8%
−8.1%
−6.1%
August 6, 2025
+19.0%
+0.7%
+18.2%
+15.6%
May 8, 2025
−2.9%
+0.6%
+16.6%
+14.1%
February 11, 2025
+0.5%
−0.2%
+6.5%
−24.4%
From the close before the release date to the close 1, 5 and 21 trading days after it, so
releases before the open and after the close are both captured. Past moves don't predict
future ones.
How Shopify Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are
delayed, read November 2, 2026. Check the live chain at your broker before trading.
Implied vs realised volatility
Includes results
A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.
Implied (30 days)82%
Realised, last 20 days43%
Realised, last 60 days49%
Realised, last year59%
Implied is 1.67× the last 60 days’ realised volatility
.
Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.
Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above
1-year realised (not just a calm spell), and in the top 20% of our
coverage that day. Never with results inside the option’s life. These are our conventions, built on research
showing option prices usually imply more movement than follows, most when the gap is wide.
How we judge this.
Cash-secured put
Not offered: rated Sell.
We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.
Own 100 shares, sell the $167.5 call expiring November 27, 2026 (25 days) for $7.70 a share — $770 per contract.
Previous session ·
Bid $7.70, ask $10.25, quoted Mon 2 Nov, 17:35 New York time with SHOP at $156.92.
Option prices move with the shares: check the live chain at your broker before trading.
If SHOP ends below $167.5: you keep your shares and the $770 — 4.9% extra on the position, 71.6% a year at that pace.
If it ends above $167.5: your shares are sold at $167.5, a total return of 11.6% including the premium — at or above our value of ~$64.
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$770
Annualised
71.6%
Break-even
$149.22
Max gain
$1,828
Chance of selling
~42%
Results are expected around November 3, 2026, before this
option expires: the share price can jump on results, and the premium partly reflects that.
Collar
Own the shares, buy the $135 put and sell the $167.5 call, both
expiring November 27, 2026 (25 days).
Net credit of $1.40 a share ($140 per contract of 100 shares).
Worst case at expiry: -13.1%, if the shares fall below $135 (-14.0% from today).
Best case at expiry: +7.6%, if the shares rise above $167.5 (+6.7%); gains beyond that go to the call buyer.
Offered because the shares trade at or above our fair value of $64.00: a way to hold on with a floor
under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its
ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.
General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone:
put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or
news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early
assignment are not modelled.
Growth, profitability, cash generation and balance sheet are percentiles against the
companies we cover in the same industry, from SEC filings (100 = best). Value compares the
share price with our modelled value range (50 = at our base value; higher = cheaper).
A description of reported data and our model — not a quality score or advice.
Fundamentals
Revenue (TTM)Shopify Inc.
Source: SEC EDGAR filings. Retrieved November 3, 2026.
View chart data
Period
Revenue (TTM)
FY18 Q4
$1.1B
FY19 Q4
$1.6B
FY20 Q4
$2.9B
FY21 Q4
$4.6B
FY24 Q4
$8.9B
FY25 Q1
$9.4B
FY25 Q2
$10B
FY25 Q3
$10.7B
FY25 Q4
$11.6B
FY26 Q1
$12.4B
FY26 Q2
$13.3B
FY26 Q3
$14.2B
Revenue growth, TTM YoYShopify Inc.
Source: SEC EDGAR filings. Retrieved November 3, 2026.
View chart data
Period
Revenue growth, TTM YoY
FY18 Q4
59.4%
FY19 Q4
47.0%
FY20 Q4
85.6%
FY21 Q4
57.4%
FY25 Q4
30.1%
FY26 Q1
31.8%
FY26 Q2
32.5%
FY26 Q3
32.5%
Operating margin (TTM)Shopify Inc.
Source: SEC EDGAR filings. Retrieved November 3, 2026.
View chart data
Period
Operating margin (TTM)
FY18 Q4
-8.6%
FY19 Q4
-8.9%
FY20 Q4
3.1%
FY21 Q4
5.8%
FY24 Q4
12.1%
FY25 Q1
12.7%
FY25 Q2
12.4%
FY25 Q3
12.2%
FY25 Q4
12.7%
FY26 Q1
13.3%
FY26 Q2
13.9%
FY26 Q3
14.6%
FCF margin (TTM)Shopify Inc.
Source: SEC EDGAR filings. Retrieved November 3, 2026.
View chart data
Period
FCF margin (TTM)
FY18 Q4
-1.7%
FY19 Q4
0.9%
FY20 Q4
13.1%
FY21 Q4
10.5%
FY24 Q4
18.0%
FY25 Q1
18.4%
FY25 Q2
18.1%
FY25 Q3
17.8%
FY25 Q4
17.4%
FY26 Q1
17.1%
FY26 Q2
17.7%
FY26 Q3
18.8%
Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 20-F, 40-F. Generated November 3, 2026. Definitions in our methodology.
Where the money goes
FY2025, from the 10-K
Each dollar Shopify took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.
Revenue $11.6B
Cost of revenue $6B · 51.9%
Gross profit $5.6B · 48.1%
Research and development $1.5B · 13.3%
Selling, general and admin $2.1B · 18.5%
Other operating costs $417M · 3.6%
Operating income $1.5B · 12.7%
Income tax $278M · 2.4%
Net income $1.2B · 10.7%
Where Shopify's revenue went, FY2025
Revenue
$11.6B
Cost of revenue
$6B
51.9% of revenue
Gross profit
$5.6B
48.1% of revenue
Research and development
$1.5B
13.3% of revenue
Selling, general and admin
$2.1B
18.5% of revenue
Other operating costs
$417M
3.6% of revenue
Operating income
$1.5B
12.7% of revenue
Income tax
$278M
2.4% of revenue
Net income
$1.2B
10.7% of revenue
Shares of revenue. Source: Shopify's 10-K for FY2025, as filed with the SEC.
"Other" lines are what the reported lines leave unexplained.
Financial statements
US$ billions unless shown otherwise.
Fiscal years, plus the last twelve months (LTM) when newer.
Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income
plus depreciation and amortisation. Free cash flow is cash from operations minus capital
spending. Growth is left blank when last year's figure was a loss or under 2% of revenue.
Share counts and EPS are restated for stock splits. A dash means the company didn't report
the figure.
✓Short-term assets cover short-term liabilities $7.8bn of assets due within a year against $1.6bn of liabilities due within a year.
·Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
·More cash than debt Cash or debt not separately reported. Not assessable.
·Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
·Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
·A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
·Operating profit covers interest at least five times over Interest not separately reported. Not assessable.
From Shopify Inc.'s latest balance sheet as filed. Checks are fixed, documented rules
(methodology), counted only where the company reports
the figures — a dot means the filing doesn't break the item out. Descriptions of reported
data, not advice.
Median of all 562 companies we cover in technology. Shaded:
best of the six on that line (lowest for stock pay and share-count growth). 3-year figures
average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.
Peer comparison
562 technology companies
Measures ranked against peers
Measure
Company
Peer median
Rank
Revenue growth Growth
32.5%
12.0%
101 of 561
Change in growth rate Growth
-0.1pp
+1.0pp
331 of 561
Gross margin Profitability
47.5%
48.6%
258 of 489
Operating margin Profitability
14.6%
3.1%
123 of 547
Net margin Profitability
15.0%
2.3%
114 of 562
Free-cash-flow margin Cash generation
18.8%
8.5%
155 of 529
Stock pay as % of revenue Cash generation
3.6%
5.2%
220 of 535
Change in share count Balance sheet
-0.8%
1.4%
151 of 509
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
Where the revenue comes from
Fiscal year to December 31, 2025
Services$8.8B
Subscriptions$2.8B
Products and services
Line of business
Revenue
Share
YoY
Services
$8.8B
76.2%
▲ 34.8%
Subscriptions
$2.8B
23.8%
▲ 17.1%
From Shopify Inc.'s 10-K filed February 11, 2026, as tagged in the filing.
View filing. Indented rows are part of the
line above; their share is of that line. In the bars, the
faint bar behind is the year before.
Top buyers and sellers, Q2 2026: 761 institutions
bought and 810 sold
; the biggest buyer was BAMCO Inc (+6.4M shares) and the biggest seller Jennison Associates LLC (−9.5M). See which funds bought and sold →
Largest reported holders, June 30, 2026
Manager
Value
Shares
Share of 13F value
Shares QoQ
Capital International Investors
$6.3B
54.9M
6.6%
▲ 9.7%
FMR LLC
$5.4B
47.2M
5.6%
▲ 2.9%
Invesco Ltd.
$4.2B
36.6M
4.4%
▲ 0.5%
Vanguard Capital Management LLC
$3.9B
34.1M
4.1%
▲ 1.2%
Capital World Investors
$3.9B
34.1M
4.1%
▲ 1.2%
Baillie Gifford & Co
$3.2B
28.4M
3.4%
▼ 2.1%
Morgan Stanley
$2.9B
25.5M
3.0%
▲ 3.3%
Price T Rowe Associates Inc
$2.8B
24.8M
3.0%
▼ 1.1%
Royal Bank Of Canada
$2.7B
23.5M
2.8%
▲ 8.7%
Fil Ltd
$2.2B
19.3M
2.3%
▲ 5.8%
Norges Bank
$1.9B
16.4M
2.0%
—
Jpmorgan Chase & Co
$1.7B
15.2M
1.8%
▼ 12.8%
From Form 13F filings with the SEC (
quarterly data sets), as reported by each
manager for June 30, 2026 and filed up to 45 days later. 13F reports cover
long US-listed positions of managers above $100M only, so this is not Shopify Inc.'s complete
shareholder register. Values are as reported by the filers
; 4 inconsistently scaled filing rows were excluded.
No open-market insider trades reported in the last 12 months.
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares
withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule
10b5-1 plan. See every insider trade since five years ago, on a price chart.
Shopify Inc. is a US-listed company in the prepackaged software industry. Its financial year ends in December.
What is Shopify Inc.'s stock ticker?
Shopify Inc. trades under the ticker SHOP on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Shopify Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Shopify Inc. reported revenue of $14.2B, 32.5% higher than a year earlier, according to its SEC filings.
What is Shopify Inc.'s free cash flow?
Shopify Inc.'s free-cash-flow margin is 18.8% of revenue over the trailing twelve months, ranking 155 of the 529 technology companies we cover.
What is Shopify Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Shopify Inc.'s free cash flow after stock-based pay gives ~$71 per share in the base case, and ~$55–$92 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Shopify Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Capital International Investors, FMR LLC and Invesco Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Shopify Inc.'s market cap?
On November 2, 2026, Shopify Inc.'s market capitalisation was about $203B, with a price-to-earnings ratio of 95.4 and net debt of -$1.9B. Market figures come from third-party market data and may be delayed.
Who are Shopify Inc.'s competitors?
In our Technology peer group, the companies closest to Shopify Inc. are Analog Devices, Western Digital, KLA Corporation, Seagate Technology and NXP Semiconductors. The side-by-side comparison below sets their revenue, margins and growth against Shopify Inc.'s.
When is Shopify Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Shopify Inc. announces its own schedule.
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