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SHOP
Shopify Inc
NASDAQ· Technology· Software - Application· CUSIP 82509L107
$168.81-3.14%Price as of Oct 23, 00:41 UTC · updated once a day, after the close
At a glance
Shopify Inc (SHOP) is listed on NASDAQ and classified in Software - Application, part of the Technology sector. It is headquartered in Ottawa, Canada and has 7,600 employees. The company is worth $219.06B and trades at 118.0x its earnings of the last twelve months; the median for its sector is 28.0x. Revenue was $11.56B in fiscal 2025, up 30.1% from the year before. Net income was $1.23B. The share price is 7.3% below its 52-week high of $182.19. 7 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Baillie Gifford (Baillie Gifford & Co), at $3.24B. In that quarter, 5 of them opened or added to the position and 1 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Key metrics
- Market cap
- $219.06B
- P/E
- 118.0x
- Forward P/E
- 68.7x
- P/B
- 17.2x
- Dividend yield
- 0.00%
- Payout
- —
- EPS
- $1.43
- ROE
- 15.54%
- Profit margin
- 14.53%
- Revenue growth
- +33.70%
- Beta
- 2.63
- 52-week high
- $182.19
- 52-week low
- $94.00
History
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Investors holding this
Major managers that reported this stock in their latest 13F.
- Baillie GiffordReducedBaillie Gifford & Co · Q2 2026$3.24B28.4M shares · 2.9% of portfolio
Ken GriffinAddedCitadel Advisors · Q2 2026$235.79M2.07M shares · 0.1% of portfolio- Daniel SundheimNew positionD1 Capital Partners · Q2 2026$94.87M830.89K shares · 0.3% of portfolio
- Cliff AsnessAddedAQR Capital Management · Q2 2026$41.83M366.14K shares · 0.0% of portfolio
- Two SigmaAddedTwo Sigma Investments · Q2 2026$28.79M252.16K shares · 0.0% of portfolio
- Israel EnglanderAddedMillennium Management · Q2 2026$28.21M247.08K shares · 0.0% of portfolio
- Tom GaynerHeldMarkel Group · Q2 2026$11.73M102.75K shares · 0.1% of portfolio
Price over time
▲ +11.4% over 5Y.
today you would have $1,155.77▲ +15.6%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
Indicators, year by year
The last 11 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $160.97 | $106.33 | $77.90 | $34.71 | $137.74 | $113.19 | $39.76 | $13.85 | $10.10 | $4.29 | $2.58 | |
| P/E | 68.6x | 171.2x | 68.6x | 779.0x | — | 60.1x | 437.0x | — | — | — | — | — |
| P/S | 18.2x | 18.2x | 15.6x | 14.3x | 7.8x | 38.0x | 47.7x | 28.5x | — | — | — | — |
| P/B | 14.9x | 15.6x | 12.0x | 11.1x | 5.3x | 15.8x | 21.8x | 14.9x | — | — | — | — |
| EPS | $0.94 | $1.55 | $0.10 | -$2.73 | $2.29 | $0.26 | -$0.11 | -$0.06 | -$0.04 | -$0.04 | -$0.03 | |
| Profit margin | 1.87% | 10.65% | 22.74% | 1.87% | -61.79% | 63.20% | 10.91% | -7.91% | -6.01% | -5.94% | — | — |
| ROE | -3.09% | 9.14% | 17.47% | 1.46% | -42.00% | 26.18% | 4.99% | -4.14% | -3.09% | -4.00% | -8.61% | -9.62% |
Median of the years shown; P/E years above 200x are left out.
Fair price, seven ways
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Earnings
$17.79
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings
$35.75
Earnings growing 25.0% a year plus a 0.0% dividend yield. Growth capped at 25%.
Earnings
$40.05
Median P/E of 28.0 among peers in the sector.
Earnings
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Cash flow
$53.77
Cash flow growing 15.0% a year for 10 years, discounted at 10%, then 2.5% forever.
Operating
$17.65
Sector median of 14.3x operating profit, less net debt. Banks have no EBITDA.
Dividends
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
How the average is calculated
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
Earnings $31.20 (avg. of 3)+Cash flow $53.77+Operating $17.65÷ 3 =$34.20
$34.20
5 methods answered, across 3 families.
$25.65
Room for errors in the reported numbers.
$168.81
-79.7% from the average.
Models, not forecasts, and not investment advice. How each formula works →
Others in the same sector
Companies of similar size in Technology, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| ANETArista Networks, Inc. | $171.07 | 54.0x | 14.6x | 0.00% | 31.48% | $215.76B |
| ARMARM Holdings PLC | $210.10 | 216.6x | 26.0x | 0.00% | 13.35% | $224.39B |
| CRMSalesforce, Inc. | $250.29 | 22.9x | 5.4x | 0.70% | 19.38% | $205.99B |
| IBMInternational Business Machines Corp | $252.11 | 21.5x | 7.2x | 2.68% | 34.46% | $237.52B |
| MRVLMarvell Technology, Inc. | $223.47 | 73.5x | 10.6x | 0.11% | 16.52% | $200.83B |
| CRWDCrowdStrike Holdings, Inc. | $237.94 | 4758.8x | 47.8x | 0.00% | 1.46% | $243.64B |
About the company
- 7,600
- Ottawa, Canada