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Shopify

SHOP

Shopify provides a comprehensive commerce platform and a suite of services that enable merchants of all sizes to design, set up, and manage their stores across multiple sales channels.

Market cap
$193.37B+6.4%
Revenue$13.3B+32.5%
Net income$1.8B-19.7%
Free cash flow$2.4B+29.4%
EPS (diluted)$1.48-17.3%
Trailing twelve months · change vs. prior year

Earnings

Next report

Nov 3, 2026 (in 2 months)
Revenue estimate$3.8B
EPS estimate$0.44

Financials

Q2 2026

Income statement

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Revenue$3.6B+33.7%
Gross profit$1.7B+31.2%
Operating income$488.0M+67.7%
Net income$1.5B+65.8%
EPS (diluted)$1.16+68.1%

Balance sheet

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Cash & equivalents$1.7B+7.4%
Total debt$178.0M-84.4%
Total equity$12.7B+4.6%
Total assets$14.5B-0.6%

Cash flow

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Operating cash flow$658.0M+53.7%
CapEx$4.0M-33.3%
Free cash flow$654.0M+55.0%

Valuation & ratios

Valuation

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Market cap$193.37B+6.4%
Enterprise value$191.89B+5.8%
P/E104.9×-25.6×
P/S14.6×-4.6×

Profitability

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Gross margin47.8%-1.6pp
Operating margin13.9%+1.5pp
Net margin13.9%-9.0pp
FCF margin17.7%-0.4pp

Returns & leverage

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Return on equity14.9%-6.7pp
Debt / equity-0.1×
Current ratio5.4×+1.5×

Segments

By geography

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Europe$721.0M
Rest Of World$62.0M

By product

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Merchant solutions$2.8B+37.4%
Subscription solutions$802.0M+22.3%

Competitors

Profile

Shopify provides a comprehensive commerce platform and a suite of services that enable merchants of all sizes to design, set up, and manage their stores across multiple sales channels. The company's value proposition centers on a unified back-office system that integrates mobile, web, social media, and physical retail locations into a single cloud-based interface.

Competitive position

Shopify is a leading global commerce provider known for its extensive ecosystem of third-party apps and its ability to scale from solo entrepreneurs to large enterprise brands.

GeographiesGlobal, North America, Europe, Asia-Pacific
Customer segmentsSMB, Enterprise, Retailers
Business modelSubscription SaaS, Transaction-based, Marketplace, Financing
SuppliersCloud hosting providers, Financial institutions and payment networks, Open source software communities, Hardware manufacturers for POS devices
CustomersDirect-to-consumer brands, Brick-and-mortar retailers, Wholesale distributors, Global enterprise corporations
CountryCanada
Listed2015
Employees11.6K
CEOTobias Lutke
FilingsSEC EDGAR

FAQ

What is Shopify's market cap?
Shopify (SHOP) has a market capitalization of $193.37B and trades on NYSE.
What is Shopify's revenue and profitability?
Shopify generated $13.3B in trailing twelve-month revenue with net income of $1.8B, representing a net margin of 13.9%. Gross margin stands at 47.5%, with free cash flow of $2.4B. These figures are based on the Q2 2026 filing.
Who are Shopify's competitors?
Shopify's key competitors include Adobe, Wix.com, Salesforce, and others. These companies compete in similar markets and product categories.
Who does Shopify partner with?
Shopify's notable partners include Stripe, Google, Meta, and others.
What subsidiaries does Shopify have?
Shopify's subsidiaries include Shopify Payments (various entities).
Where is Shopify headquartered?
Shopify is headquartered in Canada and employs approximately 11,600 people. It has been publicly traded since 2015.