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Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company’s website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
2004
8.1K+
LTM Revenue $9.5B
LTM EBITDA $1.7B
$99.8B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Shopify has a last 12-month revenue of $9.5B and a last 12-month EBITDA of $1.7B.
In the most recent fiscal year, Shopify achieved revenue of $6.2B and an EBITDA of $777M.
Shopify expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Shopify valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $4.9B | $6.2B | XXX | XXX | XXX |
| Gross Profit | $1.9B | $2.5B | XXX | XXX | XXX |
| Gross Margin | 39% | 40% | XXX | XXX | XXX |
| EBITDA | -$5.6M | $777M | XXX | XXX | XXX |
| EBITDA Margin | 0% | 13% | XXX | XXX | XXX |
| Net Profit | -$2.4B | $92.3M | XXX | XXX | XXX |
| Net Margin | -49% | 1% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Shopify's stock price is CAD 115 (or $80).
Shopify has current market cap of CAD 149B (or $104B), and EV of CAD 143B (or $99.8B).
See Shopify trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $99.8B | $104B | XXX | XXX | XXX | XXX | $1.32 |
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Sign UpAs of April 15, 2025, Shopify has market cap of $104B and EV of $99.8B.
Shopify's trades at 10.5x LTM EV/Revenue multiple, and 60.3x LTM EBITDA.
Analysts estimate Shopify's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Shopify and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $99.8B | XXX | XXX | XXX |
| EV/Revenue | 16.1x | XXX | XXX | XXX |
| EV/EBITDA | 128.4x | XXX | XXX | XXX |
| P/E | 73.7x | XXX | XXX | XXX |
| P/E/Growth | 2.4x | XXX | XXX | XXX |
| EV/FCF | 89.3x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpShopify's NTM/LTM revenue growth is 22%
Shopify's revenue per employee for the last fiscal year averaged $0.8M, while opex per employee averaged $0.3M for the same period.
Over next 12 months, Shopify's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Shopify's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Shopify and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 26% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -13987% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 35% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.8M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.3M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 16% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 5% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 15% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 38% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Netbay | XXX | XXX | XXX | XXX | XXX | XXX |
| Locaweb | XXX | XXX | XXX | XXX | XXX | XXX |
| Intershop Communications | XXX | XXX | XXX | XXX | XXX | XXX |
| Platform Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Cafe24 | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Shopify acquired XXX companies to date.
Last acquisition by Shopify was XXXXXXXX, XXXXX XXXXX XXXXXX . Shopify acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Shopify founded? | Shopify was founded in 2004. |
| Where is Shopify headquartered? | Shopify is headquartered in Canada. |
| How many employees does Shopify have? | As of today, Shopify has 8.1K+ employees. |
| Who is the CEO of Shopify? | Shopify's CEO is Mr. Tobias Lutke. |
| Is Shopify publicy listed? | Yes, Shopify is a public company listed on TSE. |
| What is the stock symbol of Shopify? | Shopify trades under SHOP ticker. |
| When did Shopify go public? | Shopify went public in 2015. |
| Who are competitors of Shopify? | Similar companies to Shopify include e.g. Netbay, Locaweb, Intershop Communications, Platform Group. |
| What is the current market cap of Shopify? | Shopify's current market cap is $104B |
| What is the current revenue of Shopify? | Shopify's last 12-month revenue is $9.5B. |
| What is the current EBITDA of Shopify? | Shopify's last 12-month EBITDA is $1.7B. |
| What is the current EV/Revenue multiple of Shopify? | Current revenue multiple of Shopify is 10.5x. |
| What is the current EV/EBITDA multiple of Shopify? | Current EBITDA multiple of Shopify is 60.3x. |
| What is the current revenue growth of Shopify? | Shopify revenue growth between 2023 and 2024 was 26%. |
| Is Shopify profitable? | Yes, Shopify is EBITDA-positive (as of the last 12 months). |
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