Shopify Inc - Class A
Research Shopify Inc - Class A (SHOP) on Bullrun: valuation model: 47.3% overvalued, market cap USD 220.26B, P/E 115.3. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerSHOP
- ExchangeNASDAQ
- CountryCanada
- SectorTechnology
- IndustrySoftware-Application
- CurrencyUSD
- Valuation signal47.3% overvalued
- Market capUSD 220.26B
- P/E115.3
- Financial periodQ2 2026
- RevenueUSD 3.58B
- Net incomeUSD 1.50B
- Free cash flowUSD 654.00M
- Gross margin47.7%
Valuation Snapshot
Bullrun's latest valuation model marks Shopify Inc - Class A as 47.3% overvalued; latest market cap is USD 220.26B; P/E is 115.3.
Peer valuation comparison
Latest P/E is 115.26x versus a Technology sector median of 28.78x (300.4% above).
Latest P/E is 115.26x versus a Canada median of 15.17x (659.9% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 11.56B | USD 1.23B | USD 2.01B | 48.1% | 0.94 | USD 1.55B | USD 188.00M | USD 13.47B |
| FY2024 | USD 8.88B | USD 2.02B | USD 1.60B | 50.4% | 1.55 | USD 1.50B | USD 1.13B | USD 11.56B |
| FY2023 | USD 7.06B | USD 132.00M | USD 905.00M | 49.8% | 0.1 | USD 1.41B | USD 1.15B | USD 9.07B |
| FY2022 | USD 5.60B | -USD 3.46B | -USD 186.00M | 49.2% | -2.73 | USD 1.65B | USD 1.40B | USD 8.24B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-09 | USD 220.26B | 115.3 | n/a | n/a |
| 2025 | 2025-12-31 | USD 209.89B | 171.2 | n/a | n/a |
| 2024 | 2024-12-31 | USD 137.65B | 68.6 | n/a | n/a |
| 2023 | 2023-12-29 | USD 100.09B | n/a | n/a | n/a |
| 2022 | 2022-12-30 | USD 44.15B | n/a | n/a | n/a |
| 2021 | 2021-12-31 | USD 173.41B | 60.1 | n/a | n/a |
About Shopify Inc - Class A
Shopify Inc., a commerce technology company, provides tools to start, scale, market, and run a business of various sizes in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.
ETFs that hold Shopify Inc - Class A
Shopify Inc - Class A is one of the ten largest holdings of 19 ETFs that investors in Europe can buy. The 8 most traded of them:
| ETF | Weight | TER |
|---|---|---|
| iSh MSCI Canada USD A | 5.87% | 0.48% |
| UBS MSCI Canada UCITS ETF CAD dis | 5.70% | 0.33% |
| iShares Digitalisation UCITS ETF USD (Acc) | 3.47% | 0.40% |
| HSBC MSCI Canada UCITS ETF | 6.01% | 0.35% |
| Xtrackers MSCI Canada Screened UCITS ETF 1C | 5.32% | 0.35% |
| UBS MSCI Canada UCITS ETF CAD acc | 5.70% | 0.33% |
| ARK Innovation UCITS ETF Class A USD Accumulation | 3.77% | 0.75% |
| ARK Artificial Intelligence & Robotics UCITS ETF Class A USD Accumulation | 3.59% | 0.75% |
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Frequently asked questions
Is Shopify Inc - Class A overvalued or undervalued?
Bullrun's valuation model currently marks Shopify Inc - Class A as 47.3% overvalued.
What is Shopify Inc - Class A's market cap?
Shopify Inc - Class A's market capitalization is USD 220.26B.
What is Shopify Inc - Class A's P/E ratio?
Shopify Inc - Class A's price-to-earnings (P/E) ratio is 115.3.
What does Shopify Inc - Class A do?
Shopify Inc., a commerce technology company, provides tools to start, scale, market, and run a business of various sizes in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.