STOCKROUTINES

Shopify Inc.

Last Updated
Share Price
$322.58
Market Cap
$40.9B
Dividend Yield
0%
EPS
$1.45
P/E
223.24

Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.

0%
Income
  • Revenue $4.61B
  • Gross Profit $2.48B
  • Net Income $2.91B
  • Gross Margin 53.8%
  • Net Margin 63.2%
Cash Flow
  • Free Cash Flow (FCF) $453.64M
  • Free Cash Flow To Equity (FCFE) $453.64M
  • Dividends Paid $0
  • Debt Repayment $0
  • Net Stock Repurchased $-1.54B
Balance Sheet
  • Shareholder Equity $11.13B
  • Debt To Equity (D/E) 19.82%
  • Book Value $11.13B
  • Book Value Per Share (BVPS) $0
  • Return On Invested Capital (ROIC) 29.74%
The financial metrics for Shopify Inc. presented below are for the financial year 2021.
P/E 56.51 Price To Earnings Ratio
P/S 35.71 Price To Sales Ratio
P/B 14.79 Price To Book Ratio
P/CF 326.5 Price To Operating Cash Flow Ratio
P/FCF 363.05 Price To Free Cash Flow Ratio
P/FCFE 363.05 Price To Levered Free Cash Flow Ratio
P/EBT 52.44 Price To Pre-Tax Income
PEG 0.26 Trailing Price/Earnings To Growth Ratio
EV/Sales 35.42 Enterprise Value To Sales Ratio
EBIT/EV 0.02 EBIT To Enterprise Value Ratio
EV/EBITDA 50.92 Enterprise Value to EBITDA Ratio
D/E 0.2 Debt To Equity Ratio
ROE 33.25% Return On Equity
ROIC 29.74% Return On Invested Capital
DPR 0% Dividend Payout Ratio
Current Ratio 12.15 Current Liquidity Ratio
EPS Growth 220.55% Earnings Per Share Growth Rate
Graham Number $225.98 Benjamin Graham's Number
Piotroski Score N/A Piotroski F-Score
Beta N/A Beta Coefficient Value
    2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Revenue $4.61B$2.93B$1.58B$1.07B$673.3M$389.33M$205.23M$105.02M$50.25M$23.71M
Cost of Revenue $2.13B$1.39B$712.53M$476.96M$293.05M$179.84M$94.16M$43.22M$13.51M$4.78M
Gross Profit $2.48B$1.54B$865.64M$596.27M$380.25M$209.5M$111.07M$61.8M$36.74M$18.94M
Gross Profit Margin 53.8%52.62%54.85%55.56%56.48%53.81%54.12%58.84%73.11%79.86%
Operating Expenses $2.21B$1.45B$1.01B$688.19M$429.41M$246.66M$128.83M$83.41M$41.01M$20.45M
Research & Development Expenses (R&D) $854.38M$552.13M$355.01M$230.67M$136M$74.34M$39.72M$25.91M$13.68M$6.45M
Selling, General & Administrative Expenses (SG&A) $1.28B$899.24M$651.77M$457.51M$293.41M$172.32M$89.11M$57.49M$27.33M$14M
Other Expenses $81.72M$0$0$0$0$0$0$0$0$0
Net Income $2.91B$319.51M$-124.84M$-64.55M$-39.99M$-35.35M$-18.79M$-22.31M$-4.84M$-1.23M
Net Profit Margin 63.2%10.91%-7.91%-6.01%-5.94%-9.08%-9.16%-21.24%-9.63%-5.2%
Operating Income $268.64M$90.15M$-141.15M$-91.92M$-49.16M$-37.16M$-17.76M$-21.61M$-4.27M$-1.51M
Other Income & Expenses (Net) $2.87B$150.21M$45.33M$27.37M$9.16M$1.81M$-1.03M$-696K$-568K$282K
Depreciation & Amortization $66.31M$70.06M$35.65M$27.05M$23.38M$13.97M$7.24M$4.67M$1.76M$767K
Interest Income $15.36M$23.43M$48.18M$29.44M$7.85M$1.54M$200K$57K$42K$50K
Interest Expense $1.15M$9.09M$0$0$0$0$0$0$0$0
Income Tax Expense $225.93M$-79.14M$29.03M$0$0$0$0$0$0$0
Effective Tax Rate 7.19%-32.93%0%0%0%0%0%0%0%0%
EBITDA $3.21B$319.51M$-60.16M$-37.5M$-16.61M$-21.39M$-11.55M$-17.64M$-3.08M$-465K
EBIT $3.14B$249.45M$-95.81M$-64.55M$-39.99M$-35.35M$-18.79M$-22.31M$-4.84M$-1.23M
EBT N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Shares Outstanding 119.57M119.57M113.03M105.67M95.77M83.99M61.72M66.1M66.5M66.1M
Diluted Shares Outstanding 119.57M123.46M113.03M105.67M95.77M83.99M61.72M66.1M66.5M66.1M
EPS $24.38$2.67$-1.1$-0.61$-0.42$-0.42$-0.3$-0.34$-0.07$-0.02
Diluted EPS $24.38$2.59$-1.1$-0.61$-0.42$-0.42$-0.3$-0.34$-0.07$-0.02
    2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Operating Cash Flow $504.43M$424.96M$70.61M$9.32M$7.9M$14.02M$15.76M$-801K$1.4M$2.04M
Net Income $2.91B$319.51M$-124.84M$-64.55M$-39.99M$-35.35M$-18.79M$-22.31M$-4.84M$-1.23M
Depreciation & Amortization $66.31M$70.06M$35.65M$27.05M$23.38M$13.97M$7.24M$4.67M$1.76M$767K
Deferred Income Tax $190.96M$-42M$-37.92M$0$0$0$0$0$0$0
Stock-Based Compensation $330.76M$246.94M$158.46M$95.72M$49.16M$22.9M$7.8M$3.79M$1.45M$268K
Change In Working Capital $-160.92M$-100.33M$20.18M$-56.09M$-25.65M$13.28M$17.32M$11.77M$2.57M$2.24M
Other Non-Cash Items $-2.84B$-69.22M$19.09M$7.19M$1M$-767K$2.18M$1.27M$455K$0
Cash From Investing $-2.35B$-1.93B$-569.48M$-810.63M$-527.17M$-269.69M$-83.84M$-40.37M$-5.33M$-2.79M
Purchases Of Investments $-7.34B$-5.6B$-2.72B$-2.45B$-1.13B$-369.21M$-111.15M$-20.13M$0$0
Sales / Maturities of Investments $5.75B$3.72B$2.48B$1.7B$642.07M$139.87M$48.35M$2.38M$0$0
Property, Plant & Equipment Investments $-50.79M$-41.73M$-56.76M$-27.95M$-20.04M$-23.77M$-16.52M$-20.57M$-3.46M$-1.71M
Net Acquisitions $-709.86M$0$-266M$-19M$-16M$-14M$0$0$-1M$-1M
Other Investing Activites $0$-11.31M$-5.15M$-13.99M$-3.94M$-2.58M$-4.51M$-2.04M$-870K$-89K
Cash From Financing $1.65B$3.56B$736.35M$1.07B$574.83M$228.59M$137.85M$140K$70.05M$57K
Debt Repayment $0$0$0$0$0$0$0$0$0$0
Dividend Payments $0$0$0$0$0$0$0$0$0$0
Payout Ratio 0%0%0%0%0%0%0%0%0%0%
Net Common Stock Repurchased $-1.54B$-2.58B$-688.01M$-1.04B$-560.06M$-224.42M$-136.25M$0$0$0
Common Stock Repurchased $0$0$0$0$0$0$0$0$0$0
Common Stock Issued $-1.54B$-2.58B$-688.01M$-1.04B$-560.06M$-224.42M$-136.25M$0$0$0
Other Financing Activites $108.59M$978.76M$48.34M$30.49M$14.77M$4.16M$1.6M$140K$70.05M$57K
Accounts Receivables $-72.3M$-141.87M$-130.39M$-83.34M$-50.85M$-14.25M$1.18M$-3.93M$-1.2M$-635K
Accounts Payables $0$0$0$0$0$0$0$0$0$0
Inventory $0$0$0$0$0$0$0$0$0$0
Other Working Capital $89.43M$-65.65M$78.41M$9.02M$10.96M$7.7M$6.22M$2.81M$1.95M$1.81M
Capital Expenditure (CAPEX) $-50.79M$-41.99M$-62.4M$-41.55M$-24.26M$-26.24M$-21.04M$-22.7M$-4.5M$-2.02M
Effect Of Foreign Exchange On Cash $-7M$3.22M$1.74M$-1.87M$2.1M$1.03M$-1.65M$-549K$-243K$36K
Net Change In Cash $-200.6M$2.05B$239.23M$269.01M$57.66M$-26.06M$68.12M$-41.58M$65.87M$-661K
Free Cash Flow (FCF) $453.64M$382.96M$8.22M$-32.22M$-16.36M$-12.22M$-5.28M$-23.5M$-3.11M$25K
Free Cash Flow To Equity (FCFE) $453.64M$382.96M$8.22M$-32.22M$-16.36M$-12.22M$-5.28M$-23.5M$-3.11M$25K
    2021 2020 2019 2018 2017 2016 2015 2014 2013
Total Assets $13.34B$7.76B$3.49B$2.25B$1.11B$490.56M$243.71M$95.19M$95.79M
Total Current Assets $8.54B$6.88B$2.74B$2.13B$1.03B$422.9M$202.47M$68.38M$88M
Cash & Short-Term Investments $7.77B$6.39B$2.46B$1.97B$938.04M$392.41M$190.17M$59.66M$83.53M
Cash & Cash Equivalents $2.5B$2.7B$649.92M$410.68M$141.68M$84.01M$110.07M$41.95M$83.53M
Short-Term Investments $5.27B$3.68B$1.81B$1.56B$796.36M$308.4M$80.1M$17.71M$0
Net Receivables $667.95M$421.54M$240.7M$133.22M$69.04M$21.5M$6.09M$7.23M$3.39M
Inventory $0$0$0$0$0$0$0$0$0
Other Current Assets $103.27M$68.25M$48.83M$26.19M$18.6M$8.99M$6.2M$1.5M$1.08M
Total Non-Current Assets $4.8B$885.15M$744.75M$125.7M$87.89M$67.66M$41.25M$26.81M$7.79M
Property, Plant & Equipment (PP&E) $301.99M$211.48M$246.17M$61.61M$50.36M$45.72M$33.05M$21.73M$4.49M
Goodwill & Intangible Assets $495.02M$447.54M$479.15M$64.09M$37.53M$21.94M$8.2M$5.08M$3.3M
Goodwill $356.53M$311.87M$311.87M$38.02M$20.32M$15.5M$2.37M$2.37M$2.37M
Intangible Assets $138.5M$135.68M$167.28M$26.07M$17.21M$6.44M$5.83M$2.71M$926K
Long-Term Investments $3.75B$173.45M$0$0$0$0$0$0$0
Other Non-Current Assets $205.8M$0$0$0$0$0$0$0$0
Other Assets $0$0$0$0$0$0$0$0$0
Total Liabilities $2.21B$1.36B$473.75M$164.02M$112.46M$80.08M$48.4M$27.46M$10.41M
Total Current Liabilities $702.73M$438.33M$316.38M$138.69M$94.75M$66.53M$37.24M$19.77M$10.04M
Accounts Payables $284.01M$168.72M$90.52M$61.27M$44.33M$34.32M$18.45M$8.19M$3.29M
Short-Term Debt $15.75M$0$0$0$0$0$0$0$0
Deferred Revenue $216.79M$107.81M$56.69M$39.18M$30.69M$20.16M$12.73M$6.78M$4.15M
Other Current Liabilities $186.18M$161.8M$169.17M$38.24M$19.73M$12.05M$6.06M$4.81M$2.61M
Total Non-Current Liabilities $1.5B$923.85M$157.36M$25.33M$17.71M$13.55M$11.16M$7.69M$366K
Long-Term Debt $1.16B$758.01M$0$0$0$0$0$0$0
Other Non-Current Liabilities $0$144.84M$142.64M$22.32M$14.97M$12.63M$10.5M$7.29M$156K
Total Debt $1.17B$912.89M$151.71M$24.87M$16.45M$13.94M$11.32M$7.78M$486K
Total Shareholder Equity $11.13B$6.4B$3.02B$2.09B$1B$410.48M$195.32M$67.73M$85.38M
Common Stock $8.04B$6.12B$3.26B$2.22B$1.08B$468.49M$231.45M$4.05M$3.01M
Retained Earnings $2.94B$15.29M$-304.22M$-187.76M$-123.2M$-83.21M$-47.85M$-29.06M$-6.75M
Accumulated Other Comprehensive Income Loss (AOCL) $-5.97M$9M$1M$-12M$3M$-2M$-8.79M$-3.14M$-2.3M
Other Shareholder Equity $161.07M$261.21M$62.67M$74.59M$43.83M$27.19M$20.5M$8.82M$4.37M
Total Investments $9.01B$3.86B$0$0$0$0$0$0$0
Net Debt $-1.33B$-1.79B$-498.21M$-385.81M$-125.22M$-70.07M$-98.75M$-34.17M$-83.04M
Book Value $11.13B$6.4B$3.02B$2.09B$1B$410.48M$195.32M$67.73M$85.38M

Discounted Cash Flow

Use the Discounted Cash Flow (DCF) tool to estimate the intrinsic value of Shopify Inc. stock.

Assumptions
Forecast Period
Required Return
  Low Mid High
Revenue Growth
FCFE Margin
Perpetual Growth
Terminal P/FCFE
Assumptions

The number of assumptions to make for each forecast.

Forecast Period

The number of years to forecast future cash flows. These future cash flows are used to determine the intrinsic present value for the stock.

It is generally recommended to select a longer period for more established companies with stable financial histories.

Forecast Period

The compounding annual rate of return required, according to your investment objectives. This is used to discount back future cash flows.

Revenue Growth

Estimate the annual compounding revenue growth rate. You can use the historical compounding annual growth rates provided below as a guide.

  • 1 Year 45.26%
  • 3 Years 49.88%
  • 5 Years 48.98%
  • 10 Years 55.22%
Levered Free Cash Flow Margin

Estimate levered free cash flow (FCFE) as a percentage of revenue. You can use the historical margins provided below as a guide.

  • 1 Year 9.84%
  • 3 Years 7.81%
  • 5 Years 3.6%
  • 10 Years -1.81%
Perpetual Growth Rate

Estimate the compounding annual growth rate at which revenues will grow in perpetuity after the forecast period. This is the first method used to calculate the terminal value.

Values of between 2% and 5% are generally recommended.

Price To Levered Free Cash Flow

Estimate the price to levered free cash flow (P/FCFE) for the stock after the forecast period. This is the second method used to calculate the terminal value.

This method for calculating the terminal value can be preferred for shorter forecast periods. You can use the historical rations provided below as a guide.

  • 1 Year 363.05
  • 3 Years 2061.53
  • 5 Years 1022.6
  • 10 Years 154.98
Chief Executive Officer (CEO) Mr. Tobias Lutke
Full-Time Employees 10K
Industry Software—Application
Sector Technology
Country CA
Website https://www.shopify.com

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