Shopify Financial Statements From 2010 to 2024

Shopify Balance Sheet		Trends
Current Value Last Year Historical Average  10 Year Trend Common Stock Shares Outstanding 1.2 B 1.3 B 1 B Slightly volatile Total Assets 11.9 B 11.3 B 4.2 B Slightly volatile Short and Long Term Debt Total 1.2 B 1.1 B 404.6 M Slightly volatile Other Current Liabilities 225.8 M 215 M 41.8 M Slightly volatile Total Current Liabilities 942.9 M 898 M 303.4 M Slightly volatile Total Stockholder Equity 9.5 B 9.1 B 3.4 B Slightly volatile Other Liabilities 342.7 M 326.4 M 94.1 M Slightly volatile Property Plant And Equipment Net 160.9 M 147 M 118.9 M Slightly volatile Current Deferred Revenue 317.1 M 302 M 94.8 M Slightly volatile Accounts Payable 203.9 M 364 M 150.2 M Slightly volatile Cash 979.1 M 1.4 B 734.7 M Slightly volatile Non Current Assets Total 5.3 B 5 B 1.5 B Slightly volatile Cash And Short Term Investments 3 B 5 B 2.2 B Slightly volatile Net Receivables 1.2 B 1.2 B 320.4 M Slightly volatile Good Will 332.4 M 427 M 244.3 M Slightly volatile Common Stock Total Equity 7.4 B 7 B 2.7 B Slightly volatile Short Term Investments 2.1 B 3.6 B 1.5 B Slightly volatile Liabilities And Stockholders Equity 11.9 B 11.3 B 4.2 B Slightly volatile Non Current Liabilities Total 1.4 B 1.3 B 470.7 M Slightly volatile Inventory 111.1 M 105.8 M 23.9 M Slightly volatile Other Current Assets 19 M 20 M 29.2 M Slightly volatile Other Stockholder Equity 263.6 M 251 M 80.1 M Slightly volatile Total Liabilities 2.3 B 2.2 B 774.2 M Slightly volatile Property Plant And Equipment Gross 176.5 M 303 M 130.4 M Slightly volatile Total Current Assets 3.4 B 6.3 B 2.5 B Slightly volatile Short Term Debt 17.9 M 17 M 6.4 M Slightly volatile Intangible Assets 27.6 M 29 M 63.3 M Slightly volatile Common Stock 9.7 B 9.2 B 3.3 B Slightly volatile Property Plant Equipment 586.8 M 558.9 M 174.8 M Slightly volatile Deferred Long Term Liabilities 3.3 M 3.2 M 1.8 M Slightly volatile Capital Surpluse 33 M 34.7 M 53.2 M Slightly volatile Capital Lease Obligations 184.5 M 234 M 107.3 M Slightly volatile Cash And Equivalents 1.3 B 1.9 B 788.2 M Slightly volatile Net Invested Capital 7 B 10 B 3.9 B Slightly volatile Net Working Capital 4.7 B 5.4 B 2.8 B Slightly volatile Capital Stock 6.9 B 9.2 B 4.1 B Slightly volatile Other Assets 44.4 M 46.9 M 28.5 M Slightly volatile Long Term Debt 962 M 916 M 802.7 M Slightly volatile Long Term Investments 2.8 B 4.4 B 987.2 M Slightly volatile
Shopify Income Statement		Trends
Current Value Last Year Historical Average  10 Year Trend Depreciation And Amortization 37.9 M 70 M 30.2 M Slightly volatile Interest Expense 1.3 M 1.3 M 6.5 M Pretty Stable Selling General Administrative 515.5 M 491 M 184.7 M Slightly volatile Selling And Marketing Expenses 1.3 B 1.2 B 439.3 M Slightly volatile Total Revenue 7.4 B 7.1 B 2.1 B Slightly volatile Gross Profit 3.7 B 3.5 B 1.1 B Slightly volatile Other Operating Expenses 7.5 B 7.1 B 2.2 B Slightly volatile Research Development 1.8 B 1.7 B 490.1 M Slightly volatile Cost Of Revenue 3.7 B 3.5 B 1 B Slightly volatile Total Operating Expenses 3.8 B 3.6 B 1.2 B Slightly volatile Interest Income 228.9 M 241 M 417.1 M Slightly volatile Net Interest Income 253.1 M 241 M 46.1 M Slightly volatile Reconciled Depreciation 60.2 M 70 M 40.5 M Slightly volatile
Shopify Cash Flow Statement		Trends
Current Value Last Year Historical Average  10 Year Trend Stock Based Compensation 645.8 M 615 M 181.8 M Slightly volatile Begin Period Cash Flow 1.7 B 1.6 B 678.8 M Slightly volatile Other Cashflows From Financing Activities 57 M 60 M 101.9 M Pretty Stable Depreciation 37.7 M 70 M 30 M Slightly volatile Capital Expenditures 35.4 M 39 M 28.4 M Slightly volatile Total Cash From Financing Activities 57 M 60 M 544.1 M Slightly volatile End Period Cash Flow 899.1 M 1.4 B 716.2 M Slightly volatile Sale Purchase Of Stock 19.2 M 20.2 M 473.8 M Slightly volatile Change To Liabilities 412.6 M 393 M 130.7 M Slightly volatile Net Borrowings 726.4 M 817.2 M 889.8 M Slightly volatile
Financial Ratios		Trends
Current Value Last Year Historical Average  10 Year Trend Price To Sales Ratio 26.28 14.1407 27.1858 Slightly volatile PTB Ratio 15.57 11.0118 16.1759 Slightly volatile Days Sales Outstanding 9.53 10.0297 31.8121 Pretty Stable Book Value Per Share 7.43 7.0742 2.809 Slightly volatile Stock Based Compensation To Revenue 0.0518 0.0871 0.0567 Slightly volatile Capex To Depreciation 0.53 0.5571 1.828 Slightly volatile PB Ratio 15.57 11.0118 16.1759 Slightly volatile EV To Sales 17.08 14.1034 24.5557 Slightly volatile Inventory Turnover 4.03 4.24 13.7568 Slightly volatile Days Of Inventory On Hand 93.5 89.05 27.9506 Slightly volatile Payables Turnover 5.47 9.739 6.2066 Slightly volatile Sales General And Administrative To Revenue 0.076 0.0695 0.0908 Pretty Stable Average Inventory 0.43 0.45 1.5 M Pretty Stable Research And Ddevelopement To Revenue 0.25 0.245 0.2333 Slightly volatile Capex To Revenue 0.0052 0.0055 0.0593 Slightly volatile Cash Per Share 4.1 3.9078 1.9795 Slightly volatile Days Payables Outstanding 62.47 37.4781 63.5578 Slightly volatile Intangibles To Total Assets 0.0514 0.0404 0.0575 Slightly volatile Current Ratio 7.33 6.9878 8.9592 Pretty Stable Tangible Book Value Per Share 7.05 6.7184 2.5527 Slightly volatile Receivables Turnover 38.21 36.3918 16.3054 Pretty Stable Graham Number 4.22 4.049 4.1638 Slightly volatile Shareholders Equity Per Share 7.43 7.0742 2.809 Slightly volatile Debt To Equity 0.11 0.101 0.1138 Slightly volatile Capex Per Share 0.0238 0.0304 0.0258 Slightly volatile Graham Net Net 1.45 2.6538 1.4353 Slightly volatile Average Receivables 8.2 M 12.4 M 10.5 M Slightly volatile Revenue Per Share 5.78 5.5089 1.734 Slightly volatile Interest Debt Per Share 0.56 0.7148 0.652 Pretty Stable Debt To Assets 0.0913 0.0811 0.0933 Slightly volatile Operating Cycle 114 109 53.437 Slightly volatile Price Book Value Ratio 15.57 11.0118 16.1759 Slightly volatile Days Of Payables Outstanding 62.47 37.4781 63.5578 Slightly volatile Ebt Per Ebit 0.68 0.7115 1.931 Slightly volatile Company Equity Multiplier 0.97 1.2463 1.1744 Very volatile Long Term Debt To Capitalization 0.1 0.0918 0.1021 Slightly volatile Total Debt To Capitalization 0.1 0.0918 0.1021 Slightly volatile Debt Equity Ratio 0.11 0.101 0.1138 Slightly volatile Quick Ratio 7.23 5.9176 8.8434 Pretty Stable Net Income Per E B T 1.16 0.7135 1.2077 Slightly volatile Cash Ratio 1.49 1.5735 4.0564 Slightly volatile Days Of Inventory Outstanding 93.5 89.05 27.9506 Slightly volatile Days Of Sales Outstanding 9.53 10.0297 31.8121 Pretty Stable Price To Book Ratio 15.57 11.0118 16.1759 Slightly volatile Fixed Asset Turnover 50.43 48.0272 16.0437 Slightly volatile Debt Ratio 0.0913 0.0811 0.0933 Slightly volatile Price Sales Ratio 26.28 14.1407 27.1858 Slightly volatile Asset Turnover 0.67 0.6248 0.5939 Pretty Stable Gross Profit Margin 0.64 0.4979 0.6105 Slightly volatile Price Fair Value 15.57 11.0118 16.1759 Slightly volatile
Shopify Valuation Data		Trends
Current Value Last Year Historical Average  10 Year Trend Market Cap 52.4 B 99.8 B 39.9 B Slightly volatile Enterprise Value 51.9 B 99.6 B 39.5 B Slightly volatile

Shopify Fundamental Market Drivers

About Shopify Financial Statements

Pair Trading with Shopify

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Shopify position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Shopify will appreciate offsetting losses from the drop in the long position's value.When determining whether Shopify is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Shopify Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Shopify Stock. Highlighted below are key reports to facilitate an investment decision about Shopify Stock:

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Earnings Projections Details

Please note, there is a significant difference between Shopify's value and its price as these two are different measures arrived at by different means. Investors typically determine if Shopify is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Shopify's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.