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SHOP logo
Shopify Inc.
SHOP
110.75 (-1.73%) 1.92
143.68(B)
Information Technology
IT Services
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. Shopify Inc. 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.
My Holdings:
(?% ownership)
Shares:
Cost basis:
Market cap:$143.68(B)
EV:$138.41(B)
Total Equity:$11.05(B)
Div. yield:0.00%
P/S:15.25
P/E:88.60
P/FCF:83.27
P/B:13.00
EPS:$1.3
FCF/share:$1.3
Dividend/share:$0.0
Book value/share:$8.5
ROIC:17.7%
ROA:16.0%
ROE:19.6%
Jump to:ValuationTTM FinancialsGrowth EstimatesHistorical DataSimilar CompaniesOwnershipTools

SHOP Valuation

  Current Price
110.75
PE Valuation
N/A
Analyst targets
N/A
DCF
N/A
DCF (exit mult.)
N/A
Future P/E
N/A
Peter Lynch FV
N/A
Graham No.
N/A
DDM
N/A

Using the PEvaluation method, the intrinsic value estimate of SHOP is $43.7.
At the current price of 110.8, SHOP is 61% overvalued.

Based on 0 valuation methods, the average fair value estimate for SHOP is $N/A (NaN% overvalued).

Valuations range from $1.7976931348623157e+308 (N/A) to $0.0 (N/A).

PEvaluation

61% overvalued
Low
$32.8
Mid
$43.7
High
$74.0
Current price
$110.8
Fair P/E
Margin of safety
Shares outstan...ROICRevenue growthDebt/FCFAssets/Liabili...
Economic moat: Wide

Analyst Price Targets

4% undervalued
Low
$85
Mid
$115
High
$140
Current price
$111
Strong Buy11
Buy24
Hold14
Sell0
Strong Sell1

Estimated EPS

LowAvgHigh#
FY+11.11.41.638
FY+21.31.82.840
FY+31.82.54.415
FY+42.32.73.43
FY+52.93.03.02

Discounted Cash Flow

Forecast years
Terminal Growth Rate
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Discounted Cash Flow (exit mult.)

Forecast years
Exit FCF Multiple
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Future P/E Valuation

Projection Years
Base Revenue
Revenue Growth Rate
Final Net Margin
Final P/E Ratio
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate (*)

(*) Growth rate is capped between 5 and 25

Graham Formula

Earnings Per Share
Expected Growth Rate
Government Bond Rate

Dividend Discount Model

Annual Dividend
First Stage Length (Years)
First Stage Growth Rate
Final Growth Rate
Discount Rate

(*) First stage rowth rate is capped to 20%

TTM Financials

Income (TTM)

RevenueGrossNet
Revenue$9.38(B)
Gross profit$4.68(B)
EBITDA$1.42(B)
Net income$1.61(B)
Gross margin49.9%
Operating margin12.1%
Net margin17.2%
Shares outstanding:1.30(B)

Balance sheet

Cash & ST inv.Other ST assetsLong term assetsCurrent liabilitiesLong term debtOther LT liabilitiesEquity
Total assets$13.40(B)
Current assets$7.45(B)
Total liabilities$2.35(B)
Current liabilities$2.01(B)
Cash & Short-term inv.$5.51(B)
Long-term debt$0
Total intangibles$530.00(M)
PP&E$151.00(M)

Cash flow (TTM)

CFOCFICFF
FCF$1.73(B)
CapEx$-17.00(M)
Dividends paid$0
Stock issued$117.00(M)
Stock repurchased$0
Stock-based comp.$439.00(M)
Debt issued$0
Debt repaid$0

Per share data

Price: $111
Revenue: $7.26 (15.3x | 6.6%) Gross profit: $3.61 (30.7x | 3.3%) Earnings: $1.25 (88.6x | 1.1%)
FCF: $1.33 (83.3x | 1.2%) Stock-based Comp.: $0.34 (327.3x | 0.3%) Dividend: $0.00 (N/A | 0.0%)
Total Assets: $10.3 (10.7x | 9.3%) Total Liabilities: $1.81 (61.2x | 1.6%) Book Value: $8.52 (13.0x | 7.7%) Cash & ST inv.: $4.25 (26.1x | 3.8%) Debt: $0.00 (N/A | 0.0%)

Growth Estimates

Revenue

CAGR: 20.9%
FY+1FY+2FY+3FY+4FY+5
FY+1$10.88(B)
FY+2(+20.4%)$13.10(B)
FY+3(+21.5%)$15.92(B)
FY+4(+22.3%)$19.47(B)
FY+5(+19.2%)$23.21(B)

Net Income

CAGR: 21.9%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.84(B)
FY+2(+29.2%)$2.37(B)
FY+3(+33.0%)$3.16(B)
FY+4(+16.8%)$3.69(B)
FY+5(+10.0%)$4.06(B)

EPS

CAGR: 20.6%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.41
FY+2(+28.4%)$1.81
FY+3(+38.7%)$2.51
FY+4(+9.2%)$2.74
FY+5(+8.8%)$2.98

FCF per share

CAGR: 25.5%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.47
FY+2(+25.9%)$1.85
FY+3(+27.0%)$2.35
FY+4(+22.6%)$2.88
FY+5(+26.7%)$3.65

Historical Financials

Showing limited histrical data. Access 10+ years of financials now! Upgrade
YearlyQuarterly
Income
FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024TTM5Y avg5Y CAGR
Revenue2.93(B)4.61(B)5.60(B)7.06(B)8.88(B)8.88(B)5.82(B)32%
COGS1.39(B)2.13(B)2.85(B)3.54(B)4.41(B)4.41(B)2.86(B)33%
Gross Profit1.54(B)2.48(B)2.75(B)3.52(B)4.47(B)4.47(B)2.95(B)31%
Total OpEx.1.45(B)2.21(B)3.58(B)3.59(B)3.40(B)3.40(B)2.85(B)24%
  R&D552.13(M)854.38(M)1.50(B)1.73(B)1.37(B)1.37(B)1.20(B)25%
  SG&A847.39(M)1.28(B)1.94(B)1.71(B)1.80(B)1.80(B)1.52(B)21%
Operating Income90.15(M)268.64(M)-822.00(M)-78.00(M)1.07(B)1.07(B)106.76(M)86%
Interest Expense-9.09(M)-3.49(M)0.000.000.000.00-2.52(M)-100%
Interest Income23.43(M)15.36(M)75.00(M)241.00(M)308.00(M)308.00(M)132.56(M)90%
Pre-tax income240.36(M)3.14(B)-3.62(B)185.00(M)2.23(B)2.23(B)434.19(M)74%
Income tax79.14(M)-225.93(M)163.00(M)-53.00(M)-209.00(M)-209.00(M)-49.16(M)N/A%
Net Income319.51(M)2.91(B)-3.46(B)132.00(M)2.02(B)2.02(B)385.03(M)59%
Cash flow
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Stock-based Comp.FCFCFONet IncomeD&ACFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures
Balance sheet
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EIntangible AssetsGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity
Per share data
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
EPS (Basic)FCF/ShareDividend/ShareEPS (Diluted)Book value/ShareCash & ST inv./ShareDebt/Share
Ratios
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
P/EP/SEV/EarningsP/FCFP/BEV/FCFDebt/EquityPayout ratio
Margins
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin
Returns
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
ROICROAROCEROE
Shares outstanding
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Shares (Basic)Shares (Diluted)
Market Cap.
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Market Cap.

Similar Companies

Ownership

Major holders

Insiders: 0.18%
Institutions: 72.05%
Other: 27.77%

Institutional ownership

4.91% BAILLIE GIFFORD & CO4.36% Capital World Investor...3.87% Vanguard Group Inc3.59% FMR, LLC3.44% Price (T.Rowe) Associa...3.00% Capital International ...2.43% Morgan Stanley1.95% Capital Research Globa...1.93% JPMORGAN CHASE & CO1.65% Royal Bank of Canada40.92% Others

Insider transactions

Show:
Buys
Sells
Grants
DateSharesTotal ($)Price ($)NameTitle
Buy2025-04-281,700166,83898.1Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-04-281,473144,56098.1Hertz (Jessica)Senior Officer of Issuer
Buy2025-04-2836135,42898.1Hertz (Jessica)Senior Officer of Issuer
Buy2025-04-281,940190,39198.1Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2025-04-235,500503,41591.5Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-04-232,000190,00095.0Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-04-1550041,35582.7Simo (Fidji)Director of Issuer
Buy2025-04-149,500833,60687.7Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-04-142,750240,04287.3Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-04-0218117,17394.9Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-04-0218117,19595.0Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-04-0281477,23294.9Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-04-0218117,17394.9Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-281,485148,18699.8Hertz (Jessica)Senior Officer of Issuer
Buy2025-03-2836436,32399.8Hertz (Jessica)Senior Officer of Issuer
Buy2025-03-281,956195,18799.8Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2025-03-281,713170,93899.8Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-1750047,46594.9Simo (Fidji)Director of Issuer
Buy2025-03-149,500890,67293.8Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-142,750257,79093.7Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-145,500515,63693.8Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-142,000190,00095.0Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-142,295215,16793.8Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-1451047,80893.7Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-1451047,81393.8Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-1451048,45095.0Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-105,214491,07594.2Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-106,170581,11594.2Hertz (Jessica)Senior Officer of Issuer
Buy2025-03-104,189394,53694.2Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2025-03-1043040,49994.2Shannan (Tobyn David)Director of Issuer
Buy2025-03-0518118,549102.5Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-0518118,549102.5Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-0518118,549102.5Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-0581383,320102.5Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-03-0417,8841,822,504101.9Lutke (Tobias Albin)Director of Issuer
Grant2025-03-038,984624,92769.6Lutke (Tobias Albin)Director of Issuer
Buy2025-03-038,9841,023,699113.9Lutke (Tobias Albin)Director of Issuer
Grant2025-03-03648,78545,129,48469.6Lutke (Tobias Albin)Director of Issuer
Buy2025-03-03648,78570,839,536109.2Lutke (Tobias Albin)Director of Issuer
Buy2025-03-032,398270,974113.0Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-02-281,711187,770109.7Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-02-281,346147,714109.7Hertz (Jessica)Senior Officer of Issuer
Buy2025-02-2836439,946109.7Hertz (Jessica)Senior Officer of Issuer
Buy2025-02-281,653181,405109.7Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2025-02-2633,3343,710,340111.3Ashe (Robert Gerard)Director of Issuer
Buy2025-02-243,104344,239110.9Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-02-242,119235,001110.9Hertz (Jessica)Senior Officer of Issuer
Buy2025-02-1850064,350128.7Simo (Fidji)Director of Issuer
Buy2025-02-182,000258,000129.0Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-02-1350,0006,326,150126.5Shannan (Tobyn David)Director of Issuer
Buy2025-02-1250,0006,040,500120.8Nejatian (Kasra)Senior Officer of Issuer
Buy2025-01-2883492,992111.5Hertz (Jessica)Senior Officer of Issuer
Buy2025-01-282,041227,575111.5Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2025-01-2839443,931111.5Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2025-01-1550052,285104.6Simo (Fidji)Director of Issuer
Buy2024-12-3078282,329105.3Hertz (Jessica)Senior Officer of Issuer
Buy2024-12-302,015212,141105.3Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2024-12-3040542,638105.3Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-12-1650057,890115.8Simo (Fidji)Director of Issuer
Buy2024-12-133,826441,964115.5Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-12-124,963583,941117.7Hertz (Jessica)Senior Officer of Issuer
Buy2024-12-109,2181,044,500113.3Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2024-12-106,559749,136114.2Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2024-12-105,712657,656115.1Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2024-12-102,511291,484116.1Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2024-12-095,866674,144114.9Hertz (Jessica)Senior Officer of Issuer
Buy2024-12-093,985457,972114.9Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2024-12-0943349,762114.9Shannan (Tobyn David)Director of Issuer
Buy2024-12-094,951568,988114.9Finkelstein (Harley Michael)Senior Officer of Issuer
Grant2024-12-061,52520,81613.6Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-12-061,525183,000120.0Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-12-0317,8852,009,576112.4Lutke (Tobias Albin)Director of Issuer
Grant2024-12-02346,41116,128,89646.6Lutke (Tobias Albin)Director of Issuer
Buy2024-12-02346,41138,967,426112.5Lutke (Tobias Albin)Director of Issuer
Grant2024-12-022,13899,54546.6Lutke (Tobias Albin)Director of Issuer
Buy2024-12-022,138240,501112.5Lutke (Tobias Albin)Director of Issuer
Buy2024-11-2975985,581112.8Hertz (Jessica)Senior Officer of Issuer
Buy2024-11-291,961221,114112.8Hoffmeister (Jeff J.)Senior Officer of Issuer
Buy2024-11-2939444,425112.8Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-11-292,396270,280112.8Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-11-252,949324,050109.9Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-11-252,365259,878109.9Hertz (Jessica)Senior Officer of Issuer
Buy2024-11-1550053,490107.0Simo (Fidji)Director of Issuer
Buy2024-11-142,000218,440109.2Johnston, ColleenDirector of Issuer
Buy2024-11-1431,2503,437,031110.0Nejatian (Kasra)Senior Officer of Issuer
Buy2024-11-1326,6722,884,683108.2Hertz (Jessica)Senior Officer of Issuer
Buy2024-11-1329,9673,214,500107.3Nejatian (Kasra)Senior Officer of Issuer
Buy2024-11-131,283139,454108.7Nejatian (Kasra)Senior Officer of Issuer
Buy2024-11-1315,0001,671,300111.4Shannan (Tobyn David)Director of Issuer
Buy2024-11-138,877954,277107.5Finkelstein (Harley Michael)Senior Officer of Issuer
Grant2024-11-131,52520,81613.6Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-11-131,525175,375115.0Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-11-121,500159,165106.1Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-11-121,500159,165106.1Finkelstein (Harley Michael)Senior Officer of Issuer
Buy2024-11-121,500159,165106.1Finkelstein (Harley Michael)Senior Officer of Issuer

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