Shopify Inc.

LSE:0VHA Stock Report

Market Cap: US$209.6b

Shopify Valuation

Is 0VHA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0VHA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$98.01
Fair Value
68.7% overvalued intrinsic discount
46
Number of Analysts

Below Fair Value: 0VHA ($165.36) is trading above our estimate of fair value ($98.01)

Significantly Below Fair Value: 0VHA is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0VHA?

Key metric: As 0VHA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0VHA. This is calculated by dividing 0VHA's market cap by their current earnings.
What is 0VHA's PE Ratio?
PE Ratio89.4x
EarningsUS$2.35b
Market CapUS$209.61b

Price to Earnings Ratio vs Peers

How does 0VHA's PE Ratio compare to its peers?

The above table shows the PE ratio for 0VHA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average44.9x
RCN Redcentric
81.5xn/aUK£224.3m
BKS Beeks Financial Cloud Group
49.3x32.46%UK£136.9m
SGE Sage Group
30.3x11.82%UK£10.5b
CCC Computacenter
18.3x10.04%UK£2.9b
0VHA Shopify
89.4x11.95%US$209.6b

Price-To-Earnings vs Peers: 0VHA is expensive based on its Price-To-Earnings Ratio (89.4x) compared to the peer average (44.9x).

Price to Earnings Ratio vs Industry

How does 0VHA's PE Ratio compare vs other companies in the European IT Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0VHA 89.4xIndustry Avg. 19.2xNo. of Companies25PE01632486480+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0VHA is expensive based on its Price-To-Earnings Ratio (89.4x) compared to the European IT industry average (19.2x).

Price to Earnings Ratio vs Fair Ratio

What is 0VHA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0VHA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio89.4x
Fair PE Ratio59.2x

Price-To-Earnings vs Fair Ratio: 0VHA is expensive based on its Price-To-Earnings Ratio (89.4x) compared to the estimated Fair Price-To-Earnings Ratio (59.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0VHA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$165.27
US$163.37
-1.15%
13.04%US$200.00US$118.00n/a46
Oct ’26US$149.10
US$162.00
+8.65%
13.27%US$200.00US$118.00n/a46
Sep ’26US$141.59
US$161.11
+13.78%
14.02%US$200.00US$114.00n/a46
Aug ’26US$118.80
US$120.36
+1.31%
12.30%US$155.00US$85.00n/a45
Jul ’26US$113.72
US$115.18
+1.28%
10.50%US$135.00US$85.00n/a45
Jun ’26US$104.44
US$114.64
+9.76%
10.32%US$135.00US$85.00n/a46
May ’26US$97.75
US$120.23
+23.00%
14.77%US$175.00US$80.00n/a45
Apr ’26US$97.87
US$134.54
+37.47%
11.32%US$175.00US$100.00n/a45
Mar ’26US$108.93
US$134.76
+23.71%
11.25%US$175.00US$100.00n/a45
Feb ’26US$119.61
US$122.03
+2.02%
10.70%US$145.00US$93.00n/a45
Jan ’26US$106.23
US$119.82
+12.79%
12.58%US$145.00US$85.00n/a44
Dec ’25US$115.63
US$117.20
+1.36%
13.80%US$145.00US$84.00n/a44
Nov ’25US$79.38
US$82.58
+4.03%
11.84%US$105.00US$65.00n/a44
Oct ’25US$78.67
US$80.53
+2.36%
11.43%US$105.00US$65.00US$149.1044
Sep ’25US$73.74
US$78.34
+6.24%
9.58%US$100.00US$65.00US$141.5942
Aug ’25US$57.95
US$76.84
+32.59%
10.97%US$100.00US$63.00US$118.8042
Jul ’25US$64.13
US$76.50
+19.30%
11.29%US$100.00US$63.00US$113.7240
Jun ’25US$58.36
US$76.60
+31.27%
11.14%US$100.00US$63.00US$104.4440
May ’25US$70.46
US$83.08
+17.91%
12.66%US$105.00US$63.00US$97.7540
Apr ’25US$77.85
US$82.53
+6.01%
12.41%US$100.00US$63.00US$97.8739
Mar ’25US$77.24
US$81.90
+6.03%
12.86%US$100.00US$63.00US$108.9339
Feb ’25US$75.99
US$75.67
-0.43%
14.48%US$100.00US$56.00US$119.6139
Jan ’25US$77.84
US$72.69
-6.61%
13.60%US$100.00US$53.00US$106.2339
Dec ’24US$73.68
US$68.21
-7.43%
10.48%US$82.00US$53.00US$115.6339
Nov ’24US$48.37
US$66.42
+37.31%
11.36%US$80.00US$50.00US$79.3842
Oct ’24US$54.63
US$67.94
+24.36%
10.78%US$80.00US$52.00US$78.6740
US$167.5
Fair Value
1.3% undervalued intrinsic discount
46
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/08 19:55
End of Day Share Price 2025/10/08 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Shopify Inc. is covered by 87 analysts. 48 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harshit GuptaAccountability Research Corporation
Oliver LesterArete Research Services LLP
Richard KramerArete Research Services LLP