Shopify Financials

307 Stock

EUR 99.52 7.36 6.89%

Financial data analysis helps to confirm if markets are presently mispricing Shopify. We were able to interpolate thirty-three available drivers for Shopify, which can be compared to its competition. The stock experiences a very speculative upward sentiment. Check odds of Shopify to be traded at €94.54 in 90 days.

Shopify Balance Sheet Chart

At this time, Shopify's Total Stockholder Equity is most likely to increase significantly in the upcoming years. The Shopify's current Other Liabilities is estimated to increase to about 342.7 M, while Net Tangible Assets are projected to decrease to roughly 4.5 B.

Total Assets Other Current Liab Total Current Liabilities Total Stockholder Equity

Key indicators impacting Shopify's financial strength include:

Current Value

Last Year

Change From Last Year

10 Year Trend

Debt Equity Ratio

0.0253

0.0266

Notably Down

Slightly volatile

Current Ratio

9.34

5.9224

Way Up

Very volatile

Understanding current and past Shopify Financials, including the trends in assets, liabilities, equity and income are directly related to making proper and timely investing decisions. All of Shopify's financial statements are interrelated, with each one affecting the others. For example, an increase in Shopify's assets may result in an increase in income on the income statement.

Shopify Stock Summary

Shopify competes with NVIDIA CORP, NVIDIA, NVIDIA, APPLE INC, and Apple. Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada. SHOPIFY A operates under SoftwareApplication classification in Germany and is traded on Frankfurt Stock Exchange. It employs 10000 people.

Specialization	Information Technology, Software - Application
Instrument	Germany Stock View All
Exchange	Frankfurt Exchange
ISIN	CA82509L1076
Business Address	151 OConnor Street,
Sector	Software
Industry	Information Technology
Benchmark	Dow Jones Industrial
Website	www.shopify.com
Phone	613 241 2828
Currency	EUR - Euro

You should never invest in Shopify without having analyzed its financial statements. Do not rely on someone else's analysis or guesses about the future performance of Shopify Stock, because this is throwing your money away. Analyzing the key information contained in Shopify's financial statements can give you an edge over other investors and help to ensure that your investments perform well for you.

Shopify Key Financial Ratios

There are many critical financial ratios that Shopify's investors are exposed to on a daily basis, but they are usually grouped into few meaningful categories from each financial statement that Shopify reports annually and quarterly.

	Return On Equity	0.0984
	Profit Margin	0.11 %
	Operating Margin	0.20 %
	Price To Sales	12.23 X
	Revenue	8.88 B

More Fundamentals

Shopify Key Balance Sheet Accounts

	2021	2022	2023	2024	2025	2026 (projected)
Total Assets	13.3B	10.8B	11.3B	13.9B	16.0B	16.8B
Other Current Liab	264.9M	358.8M	3M	13M	15.0M	14.2M
Other Liab	14.7M	21.0M	346.4M	283.8M	326.4M	342.7M
Net Tangible Assets	2.5B	6.0B	10.6B	6.0B	6.9B	4.5B
Retained Earnings	2.9B	(522.3M)	(390M)	1.6B	1.9B	2.0B
Accounts Payable	284.0M	363.8M	364M	360M	414M	216.4M
Cash	2.5B	1.6B	1.4B	1.5B	1.7B	1.4B
Net Receivables	441.4M	500M	206M	280M	322M	226.4M
Good Will	356.5M	1.8B	427M	452M	519.8M	460.7M
Other Current Assets	236.8M	432.8M	428.5M	20M	23M	21.9M
Total Liab	2.2B	2.5B	2.2B	2.4B	2.7B	1.4B
Total Current Assets	8.5B	6.1B	6.3B	7.3B	8.3B	5.0B
Intangible Assets	138.5M	390.1M	29M	22M	25.3M	24.0M
Common Stock	3.3B	6.1B	8.0B	8.7B	10.1B	10.6B
Net Invested Capital	12.0B	9.2B	10.0B	12.5B	14.3B	7.8B
Net Working Capital	7.8B	5.2B	5.4B	5.3B	6.1B	4.9B
Capital Stock	8.0B	8.7B	9.2B	9.6B	11.1B	7.4B

Shopify Key Income Statement Accounts

An income statement is very similar to a cash flow statement, but instead of showing net revenue minus expenses, it only includes earnings before interest and taxes (EBIT). This number does not have all of the same line items that are on a cash flow statement, but it leaves out non-cash expenses like depreciation and amortization. For example, if you bought $100 worth of goods from Walmart (WMT) using your debit card that has an interest rate of 20%, then paid off the balance at the end of the month with a credit card that charges 30% interest, you would have an income statement showing EBIT of $80 because your expenses are lower than the amount that went into your pocket.

	2021	2022	2023	2024	2025	2026 (projected)
Net Interest Income	11.9M	75.6M	241M	308M	354.2M	371.9M
Interest Income	15.4M	79.1M	241M	308M	354.2M	371.9M
Total Revenue	4.6B	5.6B	7.1B	8.9B	10.2B	10.7B
Gross Profit	2.5B	2.8B	3.5B	4.5B	5.1B	5.4B
Operating Income	268.6M	(822.3M)	74M	1.3B	1.5B	1.6B
Ebit	(116.0M)	173.6M	380.5M	(475.6M)	(428.0M)	(406.6M)
Research Development	854.4M	1.5B	1.7B	1.4B	1.6B	831.4M
Cost Of Revenue	2.1B	2.8B	3.5B	4.4B	5.1B	5.3B
Income Before Tax	3.1B	(3.6B)	185M	2.2B	2.6B	2.7B
Net Income	2.9B	(3.5B)	132M	2.0B	2.3B	2.4B
Ebitda	(105.5M)	319.5M	3.2B	(731.8M)	(841.5M)	(799.5M)
Tax Provision	225.9M	(162.4M)	53M	209M	240.4M	252.4M

Shopify Key Cash Accounts

Cash flow analysis captures how much money flows into and out of Shopify. It measures of how well Shopify is doing because it can show the actual money that comes into and out of the Company from sales instead of measuring expenses against revenue to determine earnings. You have to read the cash flow statement in three sections. The first section shows how much money Shopify brought in, usually known as net revenue or sales. This is different from earnings because it does not include expenses when determining net revenue for use on this part of the cash flow statement. Next, are operating activities, which show how much money Shopify had leftover after paying for its expenses. This number can be calculated in two ways: by subtracting the total of all operating expenses from net revenue or by adding up changes to cash and other assets or liabilities on this part of the statement. The third section is about investing activities, which shows what Shopify has done with the money that it received from the sale of assets or what it spent to acquire new ones. This section can be broken down into two parts: investing in existing businesses (capital allocation) and investing in non-business activities like paying off debt or making acquisitions.

	2021	2022	2023	2024	2025	2026 (projected)
Investments	(2.2B)	1.2B	(251M)	(939M)	(1.1B)	(1.1B)
Change In Cash	(200.6M)	(853.7M)	(236M)	85M	76.5M	123.4M
Depreciation	66.3M	90.5M	70M	36M	41.4M	50.1M
Capital Expenditures	50.8M	50.0M	39M	19M	21.9M	40.5M
Net Income	2.9B	(3.5B)	132M	2.0B	2.3B	2.4B
End Period Cash Flow	2.5B	1.6B	1.4B	1.5B	1.7B	1.4B
Change To Netincome	141.7M	120.3M	(2.3B)	3.3B	3.8B	4.0B
Free Cash Flow	453.6M	(186.5M)	905M	1.6B	1.8B	1.9B
Other Non Cash Items	(56.0M)	(119.2M)	(158M)	(94M)	(84.6M)	(88.8M)

Shopify Financial Ratios Relationships

Comparative valuation techniques use various fundamental indicators to help in determining Shopify's current stock value. Our valuation model uses many indicators to compare Shopify value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Shopify competition to find correlations between indicators driving Shopify's intrinsic value. More Info.

Shopify is number one stock in return on equity category among its peers. It also is number one stock in return on asset category among its peers reporting about 0.83 of Return On Asset per Return On Equity. The ratio of Return On Equity to Return On Asset for Shopify is roughly 1.21 . At this time, Shopify's Return On Equity is most likely to increase slightly in the upcoming years. The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Shopify's earnings, one of the primary drivers of an investment's value.

Shopify Total Assets Over Time

Most indicators from Shopify's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Shopify current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Shopify. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

For more detail on how to invest in Shopify Stock please use our How to Invest in Shopify guide.At this time, Shopify's Enterprise Value Multiple is most likely to increase significantly in the upcoming years.

	2023	2024	2025	2026 (projected)
Interest Income	241M	308M	354.2M	371.9M
Net Interest Income	241M	308M	354.2M	371.9M

Interest Income Net Interest Income

Shopify fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Net Tangible Assets	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Net Receivables	Good Will	Short Term Investments	Non Current Liabilities Total	Capital Lease Obligations	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Intangible Assets	Common Stock	Property Plant Equipment	Common Stock Shares Outstanding	Net Invested Capital	Net Working Capital
Total Assets		0.27	0.92	1.0	0.95	0.88	0.73	0.92	0.83	0.97	-0.25	0.86	0.59	0.92	0.73	0.8	0.36	-0.68	0.93	0.93	0.32	0.99	0.96	0.85	0.95	0.91
Other Current Liab	0.27		-0.03	0.25	0.3	0.54	0.09	0.35	0.54	0.15	0.07	0.7	0.73	0.46	0.7	0.7	0.98	-0.06	0.42	0.43	0.93	0.33	0.24	0.03	0.33	0.49
Total Current Liabilities	0.92	-0.03		0.92	0.85	0.64	0.7	0.8	0.59	0.96	-0.21	0.64	0.45	0.73	0.43	0.61	0.03	-0.7	0.78	0.74	0.08	0.88	0.91	0.9	0.82	0.69
Total Stockholder Equity	1.0	0.25	0.92		0.94	0.88	0.74	0.91	0.82	0.97	-0.24	0.84	0.57	0.92	0.71	0.78	0.35	-0.67	0.92	0.92	0.29	0.98	0.95	0.84	0.95	0.9
Other Liab	0.95	0.3	0.85	0.94		0.85	0.72	0.91	0.71	0.96	-0.32	0.86	0.63	0.85	0.76	0.81	0.38	-0.78	0.91	0.85	0.32	0.93	0.92	0.85	0.91	0.83
Net Tangible Assets	0.88	0.54	0.64	0.88	0.85		0.68	0.87	0.94	0.77	-0.21	0.92	0.57	0.99	0.86	0.82	0.66	-0.48	0.92	0.97	0.48	0.89	0.78	0.56	0.93	0.98
Retained Earnings	0.73	0.09	0.7	0.74	0.72	0.68		0.52	0.57	0.71	-0.27	0.55	0.09	0.67	0.34	0.34	0.23	-0.36	0.56	0.64	-0.07	0.62	0.54	0.4	0.68	0.65
Accounts Payable	0.92	0.35	0.8	0.91	0.91	0.87	0.52		0.79	0.9	-0.26	0.89	0.71	0.91	0.78	0.88	0.41	-0.73	0.99	0.92	0.43	0.94	0.93	0.85	0.97	0.88
Cash	0.83	0.54	0.59	0.82	0.71	0.94	0.57	0.79		0.67	-0.23	0.87	0.55	0.94	0.83	0.77	0.66	-0.29	0.85	0.95	0.51	0.85	0.72	0.49	0.86	0.98
Non Current Assets Total	0.97	0.15	0.96	0.97	0.96	0.77	0.71	0.9	0.67		-0.27	0.78	0.58	0.82	0.63	0.75	0.21	-0.78	0.89	0.83	0.22	0.95	0.96	0.92	0.91	0.79
Non Currrent Assets Other	-0.25	0.07	-0.21	-0.24	-0.32	-0.21	-0.27	-0.26	-0.23	-0.27		-0.19	-0.09	-0.18	-0.27	-0.09	-0.02	0.26	-0.27	-0.21	0.18	-0.21	-0.12	-0.26	-0.26	-0.24
Net Receivables	0.86	0.7	0.64	0.84	0.86	0.92	0.55	0.89	0.87	0.78	-0.19		0.83	0.91	0.89	0.96	0.75	-0.57	0.93	0.91	0.71	0.88	0.82	0.65	0.89	0.91
Good Will	0.59	0.73	0.45	0.57	0.63	0.57	0.09	0.71	0.55	0.58	-0.09	0.83		0.58	0.76	0.93	0.66	-0.56	0.72	0.59	0.86	0.67	0.69	0.64	0.6	0.58
Short Term Investments	0.92	0.46	0.73	0.92	0.85	0.99	0.67	0.91	0.94	0.82	-0.18	0.91	0.58		0.81	0.82	0.57	-0.52	0.94	1.0	0.45	0.93	0.84	0.64	0.96	0.99
Non Current Liabilities Total	0.73	0.7	0.43	0.71	0.76	0.86	0.34	0.78	0.83	0.63	-0.27	0.89	0.76	0.81		0.89	0.76	-0.45	0.82	0.8	0.69	0.79	0.7	0.54	0.75	0.85
Capital Lease Obligations	0.8	0.7	0.61	0.78	0.81	0.82	0.34	0.88	0.77	0.75	-0.09	0.96	0.93	0.82	0.89		0.7	-0.6	0.9	0.83	0.79	0.86	0.84	0.71	0.82	0.82
Other Current Assets	0.36	0.98	0.03	0.35	0.38	0.66	0.23	0.41	0.66	0.21	-0.02	0.75	0.66	0.57	0.76	0.7		-0.06	0.49	0.54	0.86	0.41	0.28	0.04	0.42	0.61
Other Stockholder Equity	-0.68	-0.06	-0.7	-0.67	-0.78	-0.48	-0.36	-0.73	-0.29	-0.78	0.26	-0.57	-0.56	-0.52	-0.45	-0.6	-0.06		-0.67	-0.52	-0.16	-0.68	-0.74	-0.83	-0.64	-0.45
Total Liab	0.93	0.42	0.78	0.92	0.91	0.92	0.56	0.99	0.85	0.89	-0.27	0.93	0.72	0.94	0.82	0.9	0.49	-0.67		0.95	0.48	0.95	0.91	0.8	0.98	0.92
Total Current Assets	0.93	0.43	0.74	0.92	0.85	0.97	0.64	0.92	0.95	0.83	-0.21	0.91	0.59	1.0	0.8	0.83	0.54	-0.52	0.95		0.44	0.94	0.85	0.67	0.97	0.99
Intangible Assets	0.32	0.93	0.08	0.29	0.32	0.48	-0.07	0.43	0.51	0.22	0.18	0.71	0.86	0.45	0.69	0.79	0.86	-0.16	0.48	0.44		0.41	0.38	0.22	0.35	0.47
Common Stock	0.99	0.33	0.88	0.98	0.93	0.89	0.62	0.94	0.85	0.95	-0.21	0.88	0.67	0.93	0.79	0.86	0.41	-0.68	0.95	0.94	0.41		0.97	0.86	0.94	0.92
Property Plant Equipment	0.96	0.24	0.91	0.95	0.92	0.78	0.54	0.93	0.72	0.96	-0.12	0.82	0.69	0.84	0.7	0.84	0.28	-0.74	0.91	0.85	0.38	0.97		0.93	0.9	0.81
Common Stock Shares Outstanding	0.85	0.03	0.9	0.84	0.85	0.56	0.4	0.85	0.49	0.92	-0.26	0.65	0.64	0.64	0.54	0.71	0.04	-0.83	0.8	0.67	0.22	0.86	0.93		0.77	0.61
Net Invested Capital	0.95	0.33	0.82	0.95	0.91	0.93	0.68	0.97	0.86	0.91	-0.26	0.89	0.6	0.96	0.75	0.82	0.42	-0.64	0.98	0.97	0.35	0.94	0.9	0.77		0.94
Net Working Capital	0.91	0.49	0.69	0.9	0.83	0.98	0.65	0.88	0.98	0.79	-0.24	0.91	0.58	0.99	0.85	0.82	0.61	-0.45	0.92	0.99	0.47	0.92	0.81	0.61	0.94

Click cells to compare fundamentals

Shopify Account Relationship Matchups

Shopify fundamental ratios Accounts

	2021	2022	2023	2024	2025	2026 (projected)
Total Assets	13.3B	10.8B	11.3B	13.9B	16.0B	16.8B
Other Current Liab	264.9M	358.8M	3M	13M	15.0M	14.2M
Other Liab	14.7M	21.0M	346.4M	283.8M	326.4M	342.7M
Net Tangible Assets	2.5B	6.0B	10.6B	6.0B	6.9B	4.5B
Retained Earnings	2.9B	(522.3M)	(390M)	1.6B	1.9B	2.0B
Accounts Payable	284.0M	363.8M	364M	360M	414M	216.4M
Cash	2.5B	1.6B	1.4B	1.5B	1.7B	1.4B
Net Receivables	441.4M	500M	206M	280M	322M	226.4M
Good Will	356.5M	1.8B	427M	452M	519.8M	460.7M
Other Current Assets	236.8M	432.8M	428.5M	20M	23M	21.9M
Total Liab	2.2B	2.5B	2.2B	2.4B	2.7B	1.4B
Total Current Assets	8.5B	6.1B	6.3B	7.3B	8.3B	5.0B
Intangible Assets	138.5M	390.1M	29M	22M	25.3M	24.0M
Common Stock	3.3B	6.1B	8.0B	8.7B	10.1B	10.6B
Net Invested Capital	12.0B	9.2B	10.0B	12.5B	14.3B	7.8B
Net Working Capital	7.8B	5.2B	5.4B	5.3B	6.1B	4.9B
Capital Stock	8.0B	8.7B	9.2B	9.6B	11.1B	7.4B

Today, most investors in Shopify Stock are looking for potential investment opportunities by analyzing not only static indicators but also various Shopify's growth ratios. Consistent increases or decreases in fundamental ratios usually indicate a possible pattern that can be successfully translated into profits. However, when comparing two companies, knowing each company's growth growth rates may not be enough to decide which company is a better investment. That's why investors frequently use static breakdown of Shopify growth as a starting point in their analysis.

Price Earnings To Growth Ratio

(4.13)

At this time, Shopify's Price Earnings To Growth Ratio is most likely to decrease significantly in the upcoming years.

Shopify February 24, 2026 Opportunity Range

Along with financial statement analysis, the daily predictive indicators of Shopify help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of Shopify. We use our internally-developed statistical techniques to arrive at the intrinsic value of Shopify based on widely used predictive technical indicators. In general, we focus on analyzing Shopify Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Shopify's daily price indicators and compare them against related drivers.

	Information Ratio	(0.07)
	Maximum Drawdown	18.15
	Value At Risk	(6.95)
	Potential Upside	6.78

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When running Shopify's price analysis, check to measure Shopify's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Shopify is operating at the current time. Most of Shopify's value examination focuses on studying past and present price action to predict the probability of Shopify's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Shopify's price. Additionally, you may evaluate how the addition of Shopify to your portfolios can decrease your overall portfolio volatility.

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Shopify Financials

Shopify Balance Sheet Chart

Shopify Stock Summary

Shopify Key Financial Ratios

Shopify Key Balance Sheet Accounts

Shopify Key Income Statement Accounts

Shopify Key Cash Accounts

Shopify Financial Ratios Relationships

Shopify Total Assets Over Time

Shopify fundamental ratios Correlations

Shopify Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Shopify fundamental ratios Accounts

Price Earnings To Growth Ratio

(4.13)

Shopify February 24, 2026 Opportunity Range

Complementary Tools for Shopify Stock analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Total Stockholder Equity	+ 1.0	Total Assets
Total Current Assets	+ 1.0	Short Term Investments
Common Stock	+ 0.99	Total Assets
Short Term Investments	+ 0.99	Net Tangible Assets
Total Liab	+ 0.99	Accounts Payable
Net Working Capital	+ 0.99	Short Term Investments

Common Stock Shares Outstanding	- 0.83	Other Stockholder Equity
Other Stockholder Equity	- 0.78	Non Current Assets Total
Other Stockholder Equity	- 0.78	Other Liab
Property Plant Equipment	- 0.74	Other Stockholder Equity
Other Stockholder Equity	- 0.73	Accounts Payable
Other Stockholder Equity	- 0.7	Total Current Liabilities