SHOP Shopify

XNGS Up Alert

· How we analyze

About the company

Shopify is a Canadian software company. Merchants use its platform to build online stores, process payments and manage sales in stores or on social networks. Customers range from small founders to large brands in many countries. As of Oct 11, 2026

Fact sheet (from the annual report) Software (packaged programs) · Ottawa

Shopify provides a commerce platform through which merchants offer their goods in online stores, physical stores, social media and on artificial intelligence platforms. Its customers include merchants of all industries and sizes, from founders to large companies, that serve consumers or business customers directly. Subscription revenue comes mainly from platform subscriptions including variable fees, point-of-sale subscriptions, apps, domain names and design templates. Most merchants use the Basic and Grow plans, but most of the merchandise volume comes from Shopify Plus and offerings for large customers. Merchant solutions generate revenue mainly from payment processing and currency conversion fees through Shopify Payments, plus loans, shipping labels and advertising.

Automatically summarized from SEC annual report (10-K, filed Feb 11, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026

Price performance at a glance

Last 30 trading days
  • Today −0.3%
  • 7 days −1.7%
  • 30 days +18.2%
  • 1 year −2.8%
Day range (last trading day)
−0.4%Price at 16% of the range+1.9%
52-week range
−44.1%Price at 84% of the range+8.3%
Distance from the all-time high
−7.7%

Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.

Fundamentals · Analysis method

Growth, margin and debt compared with the sector – in detail in the fundamental analysis further down. The chart shows the candles without a buy zone.

Growth: greenMargin: greenDebt: gray

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Symbol on TradingView: NASDAQ:SHOP

Fundamental analysis

Shopify · amounts in USD

Information only – does not affect our buy zones, not investment advice. Source: SEC filings, As of Feb 11, 2026.

In short

  • Light green: Revenue grew over 5 years (+31.6% per year).
  • Light green: Net income (total) grew over 5 years (+31.0% per year); per share +29.4% per year.
  • Light green: Net margin 10.7%.
  • Light red: Profit in 5 of 10 fiscal years.

Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.

RevenueNet income Net margin (below) in USD
  1. Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue not available · Net income −35.4M USD · Net margin not available
  2. Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 673.3M USD · Net income −40.0M USD · Net margin −5.9%
  3. Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 1.1B USD · Net income −64.6M USD · Net margin −6.0%
  4. Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 1.6B USD · Net income −124.8M USD · Net margin −7.9%
  5. Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 2.9B USD · Net income 319.5M USD · Net margin 10.9%
  6. Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 4.6B USD · Net income 2.9B USD · Net margin 63.2%
  7. Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 5.6B USD · Net income −3.5B USD · Net margin −61.8%
  8. Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 7.1B USD · Net income 132.0M USD · Net margin 1.9%
  9. Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 8.9B USD · Net income 2.0B USD · Net margin 22.7%
  10. Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 11.6B USD · Net income 1.2B USD · Net margin 10.7%

Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 11.6B USD · Net income 1.2B USD · Net margin 10.7%

Key figures with traffic lights

Each light follows a simple, disclosed rule. This symbol has no sector assignment – lights with a sector comparison stay gray or use only the basic rule.

Revenue growth

Light green: growing

+31.6% per year, last 5 years

What does this mean? Revenue: over 5 years it grew by 31.6% per year on average. Comparable values for a sector comparison are missing.

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net income (total)

Light green: growing

+31.0% per year, last 5 years

per share: +29.4% per year (5 years, split-adjusted)

What does this mean? Total net income: over 5 years it grew by 31.0% per year on average. Comparable values for a sector comparison are missing.

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net margin

Light green: Gain

10.7% last fiscal year

What does this mean? Of every 100 USD in revenue, 10.65 USD remained as profit. Comparable values for a sector comparison are missing.

Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.

Debt / equity

Light gray: not available

– latest balance sheet

What does this mean? No usable figure: reported financial debt or positive equity for the same balance sheet date is missing.

Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.

Payout ratio

Light gray: none found

– Dividend / earnings per share

What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.

Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.

Profitable years

Light red: 5 loss years

5 of 10 fiscal years with a profit

What does this mean? In 5 of the last 10 fiscal years the bottom line showed a profit. 5 years ended with a loss.

Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).

Last fiscal year and 13F

Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
11.6B USD
Revenue vs. prior year
+30.1%
Net income (FY)
1.2B USD
Net income vs. prior year
−39.0%
EPS (FY)
0.94 USD
13F funds with a position
1 of 9
Funds vs. prior quarter
±0
Shares held vs. prior quarter
−12.3%
Fiscal year to Dec 31, 2025 · 10-K filed Feb 11, 2026 · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term). 13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
YearEndRevenueNet income MarginEarnings per shareDividend per sharePayout
2025Dec 31, 2025 11.6B1.2B 10.7% 0.94 – –
2024Dec 31, 2024 8.9B2.0B 22.7% 1.55 – –
2023Dec 31, 2023 7.1B132.0M 1.9% 0.10 – –
2022Dec 31, 2022 5.6B−3.5B −61.8% −2.73 – –
2021Dec 31, 2021 4.6B2.9B 63.2% 2.29 – –
2020Dec 31, 2020 2.9B319.5M 10.9% 0.26 – –
2019Dec 31, 2019 1.6B−124.8M −7.9% −0.11 – –
2018Dec 31, 2018 1.1B−64.6M −6.0% – – –
2017Dec 31, 2017 673.3M−40.0M −5.9% – – –
2016Dec 31, 2016 –−35.4M – – – –
Quarters (amounts in USD, per share in USD)
QuarterEndRevenueNet income MarginEarnings per shareDividend per sharePayout
Q2/26Jun 30, 2026 3.6B1.5B 41.9% 1.16 – –
Q1/26Mar 31, 2026 3.2B−581.0M −18.3% −0.45 – –
Q4/25*Dec 31, 2025 3.7B743.0M 20.2% – – –
Q3/25Sep 30, 2025 2.8B264.0M 9.3% 0.20 – –
Q2/25Jun 30, 2025 2.7B906.0M 33.8% 0.69 – –
Q1/25Mar 31, 2025 2.4B−682.0M −28.9% −0.53 – –
Q4/24*Dec 31, 2024 2.8B1.3B 46.0% – – –
Q3/24Sep 30, 2024 2.2B828.0M 38.3% 0.64 – –
Q2/24Jun 30, 2024 2.0B171.0M 8.4% 0.13 – –
Q1/24Mar 31, 2024 1.9B−273.0M −14.7% −0.21 – –

* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.

How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year over 5 years (otherwise 3 years). Per-share values adjusted for stock split 10:1 (between Feb 16, 2022 and Feb 16, 2023). Quarters are labeled by the calendar quarter in which they end.

Insiders

All insider transactions

In the last 12 months, insiders of this stock have not acquired or disposed of shares on the market (SEC Form 4).

Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.

Trend score +75

Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200+20
ADX (trend strength)+0
Highs and lows+10
Relative strength+15

Volatility and trend strength

ADX 14 (trend strength)22.9
Rel. strength 60 d+41.1%

ATR and moving averages as price values only when logged in.

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