Shopify Inc.

BMV:SHOP N Stock Report

Market Cap: Mex$2.8t

Shopify Valuation

Is SHOP N 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 SHOP N when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SHOP N (MX$2188) is trading above our estimate of fair value (MX$1566.08)

Significantly Below Fair Value: SHOP N is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SHOP N?

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

The above table shows the Price to Earnings ratio for SHOP N. This is calculated by dividing SHOP N's market cap by their current earnings.
What is SHOP N's PE Ratio?
PE Ratio99.9x
EarningsUS$1.38b
Market CapUS$138.20b

Price to Earnings Ratio vs Peers

How does SHOP N's PE Ratio compare to its peers?

The above table shows the PE ratio for SHOP N vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average48x
GDDY GoDaddy
14.9x-7.5%US$27.6b
VRSN VeriSign
20.2x2.7%US$17.4b
WIX Wix.com
130.4x36.4%US$12.2b
AKAM Akamai Technologies
26.5x16.5%US$14.0b
SHOP N Shopify
99.9x17.2%Mex$138.2b

Price-To-Earnings vs Peers: SHOP N is expensive based on its Price-To-Earnings Ratio (99.9x) compared to the peer average (48x).

Price to Earnings Ratio vs Industry

How does SHOP N's PE Ratio compare vs other companies in the Global IT Industry?

18 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SHOP N 99.9xIndustry Avg. 23.0xNo. of Companies94PE01632486480+
18 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SHOP N is expensive based on its Price-To-Earnings Ratio (99.9x) compared to the Global IT industry average (23.1x).

Price to Earnings Ratio vs Fair Ratio

What is SHOP N'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.

SHOP N PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio99.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SHOP N's Price-To-Earnings Fair Ratio for valuation analysis.

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 SHOP N forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentMex$2,188.00
Mex$2,341.92
+7.0%
15.4%Mex$2,934.77Mex$1,578.70n/a44
Nov ’25Mex$1,597.00
Mex$1,653.96
+3.6%
11.8%Mex$2,103.12Mex$1,301.93n/a44
Oct ’25Mex$1,560.00
Mex$1,579.45
+1.2%
11.4%Mex$2,059.39Mex$1,274.86n/a44
Sep ’25Mex$1,451.38
Mex$1,488.20
+2.5%
9.6%Mex$1,899.58Mex$1,234.73n/a42
Aug ’25Mex$1,101.09
Mex$1,417.03
+28.7%
11.0%Mex$1,844.24Mex$1,161.87n/a42
Jul ’25Mex$1,174.00
Mex$1,399.64
+19.2%
11.3%Mex$1,829.55Mex$1,152.62n/a40
Jun ’25Mex$995.00
Mex$1,299.61
+30.6%
11.1%Mex$1,696.57Mex$1,068.84n/a40
May ’25Mex$1,216.54
Mex$1,414.05
+16.2%
12.7%Mex$1,787.10Mex$1,072.26n/a40
Apr ’25Mex$1,303.30
Mex$1,387.37
+6.5%
12.4%Mex$1,681.07Mex$1,059.07n/a39
Mar ’25Mex$1,305.03
Mex$1,396.19
+7.0%
12.9%Mex$1,704.80Mex$1,074.02n/a39
Feb ’25Mex$1,311.00
Mex$1,298.34
-1.0%
14.5%Mex$1,715.87Mex$960.89n/a39
Jan ’25Mex$1,325.00
Mex$1,234.94
-6.8%
13.6%Mex$1,698.86Mex$900.40n/a39
Dec ’24Mex$1,271.43
Mex$1,184.29
-6.9%
10.5%Mex$1,423.82Mex$920.27n/a39
Nov ’24Mex$866.60
Mex$1,183.03
+36.5%
11.4%Mex$1,424.98Mex$890.62Mex$1,597.0042
Oct ’24Mex$949.00
Mex$1,161.07
+22.3%
10.8%Mex$1,367.22Mex$888.69Mex$1,560.0040
Sep ’24Mex$1,139.00
Mex$1,155.01
+1.4%
11.1%Mex$1,364.10Mex$886.67Mex$1,451.3840
Aug ’24Mex$1,133.00
Mex$1,077.05
-4.9%
14.2%Mex$1,339.55Mex$686.52Mex$1,101.0939
Jul ’24Mex$1,108.35
Mex$1,078.25
-2.7%
14.9%Mex$1,366.18Mex$700.17Mex$1,174.0040
Jun ’24Mex$1,017.32
Mex$1,073.06
+5.5%
17.6%Mex$1,412.78Mex$635.75Mex$995.0043
May ’24Mex$874.50
Mex$866.12
-1.0%
17.8%Mex$1,165.36Mex$609.57Mex$1,216.5443
Apr ’24Mex$868.00
Mex$903.12
+4.0%
17.4%Mex$1,231.15Mex$643.99Mex$1,303.3043
Mar ’24Mex$729.63
Mex$878.99
+20.5%
17.6%Mex$1,196.64Mex$625.94Mex$1,305.0342
Feb ’24Mex$938.00
Mex$777.72
-17.1%
16.9%Mex$1,117.26Mex$521.39Mex$1,311.0041
Jan ’24Mex$674.00
Mex$780.48
+15.8%
16.2%Mex$1,169.00Mex$545.54Mex$1,325.0041
Dec ’23Mex$824.90
Mex$767.92
-6.9%
16.0%Mex$1,160.73Mex$541.67Mex$1,271.4339
Nov ’23Mex$690.00
Mex$790.84
+14.6%
16.0%Mex$1,187.78Mex$554.30Mex$866.6039

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

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