Shopify Inc - Ordinary Shares - Class A

Shopify Inc - Ordinary Shares - Class A

SHOP

Get informed when a big investor buys or sells

+ Follow
Market Cap$154.04B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Shopify Inc - Ordinary Shares - Class AShopify Inc - Ordinary Shares - Class A116.2-11%12.5-

Earnings Call Q1 2026

May 5, 2026 - AI Summary

Strong top-line + cash generation (what’s good): - Q1 GMV: $101B, +35% YoY (and second straight quarter >$100B). - Revenue: $3.2B, +34% YoY. - Free cash flow (FCF): $476M; 15% FCF margin (and management highlighted 4 straight quarters of 30%+ revenue/GMV growth with mid- to high-teens FCF margins). - Takeaway: performance is broad and durable, not reliant on one metric.
Guidance / outlook (what investors need to know): - Q2 revenue growth: high 20s% YoY. - Q2 gross profit growth: mid-20s% (mix headwind easing vs 2025 assumptions; continued strength in payments). - Q2 operating expenses: 35%–36% of revenue (improving from 37% in Q1 and 38% in Q2 last year). - Q2 FCF margin: mid-teens. - FX impact difference: Q2 guidance assumes ~0.5pt FX tailwind vs >2pt in Q1 (so growth is expected to be more “organic” sequentially).
Business momentum drivers (opportunities): AI + demand creation flywheel + payments penetration: - AI / Sidekick compounding: - Weekly active shops using Sidekick: +4x YoY. - 12,000+ custom apps created in Q1 using Sidekick. - Nearly half of Shopify flows generated in Q1 built with Sidekick. - Theme edits: up >1,000% in a single quarter. - AI channels traction: - AI-driven traffic to Shopify stores: 8x YoY; orders from AI-powered searches: +~13x YoY. - New-buyer orders: occurring at ~2x the rate of other channels. - Catalog advantage: Shopify claims 1B+ products structured with clean attributes/pricing/inventory; catalog-powered AI search traffic converts ~2x vs general AI searches. - Payments strength (major scale lever): - Shopify Payments processed $67B GMV (+41% YoY), 67% penetration. - Shop Pay processed $35B GMV (+59% YoY); international Shop Pay GMV: +70%+. - Opportunity framing: AI boosts merchant execution/product velocity (Sidekick), while Shopify also captures value by improving discovery-to-checkout conversion across both AI and traditional surfaces.

Exclusive for Stockcircle Pro members

Sign upSign Up
$150.69

Target Price by Analysts

33.4% upsideShopify Target Price DetailsTarget Price
$17.28

Current Fair Value

84.7% downside

Overvalued by 84.7% based on the discounted cash flow analysis.

Share Statistics

Market cap$154.04 Billion
Enterprise Value$152.69 Billion
Dividend Yield$- (-)
Earnings per Share$0.95
Beta2.64
Outstanding Shares1,303,357,874

Return

Return on Equity10.74%ROE
Return on Assets9.51%
Return on Invested Capital17.96%

Valuation & Multiples

P/E Ratio116.16P/E Ratio
PEG-784.35PEG
Price to Sales12.55Price to Sales
Price to Book Ratio12.55Price to Book Ratio
Enterprise Value to Revenue12.3
Enterprise Value to EBIT66.45
Enterprise Value to Net Income113
Total Debt to Enterprise0
Debt to Equity0.04Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 14, 2026
EPS Estimate
$0.32
Average shareholder expectation
Revenue Estimate
$3.04 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 5, 2026
EPS Estimate
$0.39
Average shareholder expectation
Revenue Estimate
$3.40 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.5883▼ 11.53%
Total Calls36,017,375▲ 29.99%
Total Puts21,189,306▲ 8.69%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %62.04%▼ 1.85%
Total Invested$95.90B▼ 28.31%
Investors Holding1,810▼ 166.00%

ESG Score

No data

About Shopify Inc

CEO: Tobias Lutke

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official analysis and 'scoring' for all tax legislation, directly informing and shaping the tax policies that come out of the Finance Committee. Its work directly influences corporate tax structures and Shopify's financial obligations.

Finance

This powerful committee controls taxation and trade policy. Corporate tax rates, international tax frameworks, and potential digital services taxes directly impact Shopify's profitability and global operations. Trade policies also affect its merchants' supply chains and sales.

Judiciary

As a large tech company, Shopify is subject to antitrust laws and intellectual property regulations (trademarks, patents, copyrights) which are under this committee's jurisdiction. Its influence on M&A and competition policy is highly relevant.

Banking, Housing, and Urban Affairs

Shopify offers financial services (Shopify Payments, Shopify Capital). This committee's regulation of the financial system, payment processors, fintech, and potential cryptocurrency regulation directly impacts a significant and growing part of Shopify's business model.

Small Business and Entrepreneurship

Shopify's core customer base consists of small and medium-sized businesses (SMBs). This committee's oversight of the SBA and policies affecting SMB funding, growth, and support directly impacts Shopify's market potential and the success of its users.

Commerce, Science, and Transportation

This committee has vast jurisdiction over interstate commerce, consumer protection (FTC), and technology regulation. It directly impacts 'Big Tech' through privacy laws, data security, and e-commerce regulations, all of which are central to Shopify's operations and its merchants.