Shopify SHOP
E-Commerce Solutions B2B SaaS Fintech Payments SMB PLG Software High Growth SaaS

Shopify trades at 11.9x EV/NTM revenue on a $191.78B enterprise value. Revenue grew 33.7% year over year to $3.58B in the quarter ending June 2026, an annual run rate of $14.33B. Shopify reports a 47.7% gross margin and 5.9-month CAC payback.

ARR ($M)
3208
Net Dollar Retention
--
ARR Growth
22.3%
EV / NTM Revenue
11.9x
Payback Period
5.9
EV / Run Rate
13.4x
Price & Key Metrics
Price Performance
Company Details
Share Price: 152.9
Last Filing Date: 2026-06-30
Fiscal Year End: 12-31
Last Filing: Form
Founding Year: 2004
IPO Year: 2015
% of 52 wk High: 85%
Description
Shopify builds a proprietary e-commerce platform for online stores and retail point-of-sale systems. Shopify offers online retailers a suite of services "including payments, marketing, shipping and customer engagement tools to simplify the process of running an online store for small merchants.
Categories
E-Commerce Solutions B2B SaaS Fintech Payments SMB PLG Software High Growth SaaS
Valuation
Market Cap: 196,727.857
Enterprise Value: 191,780.857
EV / Revenue Run Rate: 13.4x
EV / NTM Revenue: 11.9x
EV / 2026 Revenue Estimates: 13.0x
EV / 2027 Revenue Estimates: 10.7x
EV / 2028 Revenue Estimates: 8.7x
Key Business Metrics
Net Dollar Retention: --
Customers: --
ARR: 3,208
ARR Growth %: 22%
ARR/Customer ($K): --
ARR/Employee ($K): 422
Revenue
Revenue Run Rate: 14,332
ARR: 3,208
2026 Revenue Estimates: 14,696
2027 Revenue Estimates: 17,965
2028 Revenue Estimates: 22,143
LTM Revenue: 13,269
Last Year Run Rate: 10,720
Growth
Revenue Growth: 34%
ARR Growth: 22%
Growth Persistence: 109%
2026 Revenue Growth Estimates: 28%
2027 Revenue Growth Estimates: 22%
2028 Revenue Growth Estimates: 23%
High Growth SaaS Matrix
Annual Run Rate ($) Revenue Growth Gross Margin Net Dollar Retention LTM CAC Payback Period (months) Rule of 40 (LTM FCF)
Best-in-class
90th Percentile 		✓
12,008.0
  		 
74%
  		 
84%
  		 
129%
  		✓
10.23
  		 
92%
 
Great
75th Percentile 		 
4,485.0
  		 
48%
  		 
76%
  		 
125%
  		 
14.1
  		 
66%
 
Average
50th Percentile 		 
1,709.0
  		 
37%
  		 
69%
  		 
119%
  		 
24.24
  		 
56%
 
Below Average
25th Percentile 		 
851.0
  		✓
33%
  		 
64%
✓ 		 
114%
  		 
28.86
  		✓
46%
 
✓  
Shopify 		 
14,332 		 
34% 		 
48% 		 
 
5.92 		 
51%
Financials
Quarterly
Calendar Year
Frequently Asked Questions

How fast is Shopify growing?

Shopify grew revenue 33.7% year over year, reaching $3.58B in the quarter ending June 2026.

What multiple does Shopify trade at?

Shopify trades at 11.9x EV/NTM revenue and 13.4x EV/run-rate, on an enterprise value of $191.78B.

Is Shopify profitable?

For Shopify, operating income was $488.0M last quarter and LTM free cash flow margin is 17.7%.

How long does it take Shopify to pay back CAC?

Shopify recovers customer acquisition cost in about 5.9 months.

What sector is Shopify in?

Public Comps classifies Shopify under E-Commerce Solutions, B2B SaaS, Fintech, Payments, SMB, PLG, Software, and High Growth SaaS.

Where does Public Comps get Shopify's data?

Figures come from Shopify's own SEC filings, normalised into a consistent quarterly format and refreshed after each earnings release.