$105.01
-24.5% vs S&P 12m
Business overview
Commerce platform; AI features across Magic, Sidekick, and merchant agents.
AI productivity tailwind on a structurally growing GMV base; valuation prices in much of the upside.
Products
- Shopify Plus
- Shop Pay
- Magic AI
Customers (1)
- Merchants globally
Competitors (3)
- Amazon
- WooCommerce
- BigCommerce
Composite score
Higher = stronger overall research case
Fundamental66
Technical29
Valuation20
AI relevance60
Risk-adjusted (higher = safer)41
Segment-relative fundamental percentile: 29
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: -23.5%6M RS: -36.3%12M RS: -24.5%Vol30d: 76%DD52w: -41.3%
Financial summary
Curated, illustrative
Revenue
$12.37B
Growth (YoY)
34.3%
Gross margin
48.0%
Operating margin
15.7%
FCF
$1.26B
Capex
$890.25M
Net cash / (debt)
$5.56B
ROIC
9.6%
Customer conc.
Medium
Valuation
Market cap
$136.27B
Enterprise value
$130.70B
P/E (TTM)
103.0x
Forward P/E
45.3x
EV / Sales
10.6x
EV / EBITDA
60.8x
P / FCF
108.4x
PEG
2.1x
Rule of 40
43.0%
Risks
Severity 1 (low) to 5 (severe)
- 4Premium valuation
Score components
What drove the composite
Growth90
Profitability55
Cash generation48
Balance sheet90
Moat / AI relevance62
Capital intensity (higher = lighter)67
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)5
Momentum (3/6/12m)34
Relative strength59
Realized vol (higher = lower vol)25
Segment peers
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