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SHOP · Nasdaq · United States · Services-Prepackaged Software
In shortSHOPIFY INC. is profitable.
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 12.7% | 59/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 10.7% | 63/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 9.8% | 49/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 5.96× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | n/a |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 12.49 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 17.4% | 89/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.63× | 100/100 |
| Years with positive free cash flow (last 5) | 4 of 5 | 75/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 5 | 80/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 14.5% | 58/100 |
| Operating margin volatility | 15.5% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 27.3% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 4,612 | 5,600 | 7,060 | 8,880 | 11,556 |
| Cost of revenue | 2,131 | 2,846 | 3,545 | 4,408 | 6,001 |
| Gross profit | 2,481 | 2,754 | 3,515 | 4,472 | 5,555 |
| Research & development | 854 | 1,503 | 1,730 | 1,367 | 1,536 |
| Operating income | 269 | (822) | (1,418) | 1,075 | 1,468 |
| Interest expense | 3.5 | 3.5 | – | – | – |
| Pre-tax income | – | – | 185 | 2,228 | 1,509 |
| Income tax | 226 | (163) | 53 | 209 | 278 |
| Net income | 2,915 | (3,460) | 132 | 2,019 | 1,231 |
| Diluted EPS | $2.29 | −$2.73 | $0.10 | $1.55 | $0.94 |
| Diluted shares (millions) | 1,274 | 1,266 | 1,296 | 1,302 | 1,305 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
12.49 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
7/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 5, 2026