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Shopify (SHOP) valuation

Run six valuation models on Shopify with live data: DCF, Reverse DCF, Graham number, Monte Carlo, scenarios and sum-of-the-parts (NAV).

SHOP
SHOP

Shopify

SHOP · Technology

Current price

148,84 USD

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Valuation

Market cap
$193.14B
PE (TTM | NTM | +1y)
100.56 | 61.07 | 61.07
Price / Sales
14.56
EV / EBITDA
79.99
Price / Book
15.49

Cash flow

FCF yield(1.30 / 148.84)
+0.87%
SBC-adjusted FCF yield(0.91 / 148.84)
+0.61%
SBC impact
-30.36%

Margins & growth

Profit margin
+14.53%
Operating margin
+17.56%
Quarterly earnings (YoY)
+65.78%
Quarterly revenue (YoY)
+33.69%

Balance

Cash
$4.95B
Debt
$178M
Net position
$4.77B

Dividend

Dividend yield
—
Payout ratio
0%
Next payout
—

Price (1 year)

+5.21%
$173.86

Revenue

estimate
Q1 24: $1.86BQ1 24Q2 24: $2.05BQ3 24: $2.16BQ3 24Q2 25: $2.68BQ3 25: $2.84BQ3 25Q4 25: $3.67BQ1 26: $3.17BQ2 26: $3.58BQ2 26Q3 26 · estimate: $3.74BQ3 26$3.74B

EBITDA

Q2 25: $379MQ2 25Q3 25: $499MQ3 25Q4 25: $752MQ4 25Q1 26: $505MQ1 26Q2 26: $636MQ2 26$752M

Net income

Q1 24: -$273MQ1 24Q2 24: $171MQ3 24: $828MQ3 24Q2 25: $906MQ3 25: $264MQ3 25Q4 25: $743MQ1 26: -$581MQ2 26: $1.5BQ2 26$1.5B

Free cash flow

Q1 24: $232MQ1 24Q2 24: $333MQ3 24: $421MQ3 24Q2 25: $422MQ3 25: $507MQ3 25Q4 25: $715MQ1 26: $476MQ2 26: $654MQ2 26$715M

EPS

estimate
Q1 24: -0.21Q1 24Q2 24: 0.13Q3 24: 0.64Q3 24Q2 25: 0.69Q3 25: 0.20Q3 25Q4 25: 0.57Q1 26: -0.45Q2 26: 1.16Q2 26Q3 26 · estimate: 0.46Q3 261.16

Cash & debt

CashDebt
Q4 12 · Cash: $17.66MQ4 12Q4 13 · Cash: $83.53MQ4 14 · Cash: $41.95MQ4 15 · Cash: $110.07MQ4 15Q4 16 · Cash: $84.01MQ4 17 · Cash: $141.68MQ4 18 · Cash: $410.68MQ4 18Q4 19 · Cash: $649.92MQ4 20 · Cash: $2.7BQ4 21 · Cash: $2.5BQ4 21Q4 22 · Cash: $1.65BQ4 23 · Cash: $1.41BQ2 25 · Cash: $1.54BQ2 25 · Debt: $1.14BQ2 25Q3 25 · Cash: $2.41BQ3 25 · Debt: $1.12BQ4 25 · Cash: $1.53BQ4 25 · Debt: $188MQ1 26 · Cash: $1.85BQ1 26 · Debt: $179MQ2 26 · Cash: $1.66BQ2 26 · Debt: $178MQ2 26$2.7B

Return of capital

DividendsBuybacks
Q1 26 · Buybacks: $491MQ1 26Q2 26 · Buybacks: $1.42BQ2 26$1.42B

Shares outstanding

Q4 14: 39.31MQ4 14Q4 15: 0Q2 25: 1.3BQ2 25Q3 25: 1.3BQ4 25: 1.3BQ4 25Q1 26: 1.3BQ2 26: 1.29BQ2 261.3B

Stock-based compensation

Q2 25: $113MQ2 25Q3 25: $107MQ3 25Q4 25: $115MQ4 25Q1 26: $132MQ1 26Q2 26: $128MQ2 26$132M

Operating expenses

R&DSG&A
Q1 24 · R&D: $335MQ1 24 · SG&A: $124MQ1 24Q2 24 · R&D: $349MQ2 24 · SG&A: $60MQ3 24 · R&D: $332MQ3 24 · SG&A: $114MQ3 24Q2 25 · R&D: $394MQ2 25 · SG&A: $537MQ3 25 · R&D: $375MQ3 25 · SG&A: $525MQ3 25Q4 25 · R&D: $390MQ4 25 · SG&A: $558MQ1 26 · R&D: $437MQ1 26 · SG&A: $611MQ2 26 · R&D: $445MQ2 26 · SG&A: $634MQ2 26$1.08B

Source: Yahoo Finance. Quarterly history grows automatically over time as new quarters are published.

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