Shopify Inc.

NasdaqGS:SHOP Stock Report

Market Cap: US$143.7b

Shopify Management

Management criteria checks 2/4

Shopify's CEO is Tobi Lütke, appointed in Sep 2004, has a tenure of 20.67 years. total yearly compensation is $150.00M, comprised of 0% salary and 100% bonuses, including company stock and options. directly owns 6.13% of the company’s shares, worth $8.81B. The average tenure of the management team and the board of directors is 4 years and 2.9 years respectively.

Key information

Tobi Lütke

Chief executive officer

US$150.0m

Total compensation

CEO salary percentage0.00%
CEO tenure20.7yrs
CEO ownership6.1%
Management average tenure4yrs
Board average tenure2.9yrs

Recent management updates

Recent updates

Shopify: Don't Make The Same Mistake Chasing The Highs Again (Rating Downgrade)

May 13

Returns Are Gaining Momentum At Shopify (NASDAQ:SHOP)

Apr 23
Returns Are Gaining Momentum At Shopify (NASDAQ:SHOP)

Shopify: Why Holding The Line Still Makes Sense Amid Market Uncertainty

Apr 19

Shopify Inc.'s (NASDAQ:SHOP) 28% Cheaper Price Remains In Tune With Revenues

Apr 05
Shopify Inc.'s (NASDAQ:SHOP) 28% Cheaper Price Remains In Tune With Revenues

Shopify: Don't Overthink The Buying Opportunity

Mar 30

Shopify: The Price Of Perfection

Mar 21

Shopify's Growth Story: Direct-To-Consumer Enabler For Independent Brands

Feb 18

Shopify Inc. (NYSE:SHOP) Stocks Shoot Up 26% But Its P/S Still Looks Reasonable

Feb 14
Shopify Inc. (NYSE:SHOP) Stocks Shoot Up 26% But Its P/S Still Looks Reasonable

Shopify: Raising My Price Target On Accelerating Growth

Feb 12

Shopify Should Beat Q4 Earnings, But Tariff Risks Are A Concern

Feb 04

Shopify: Outperforming Even My Most Bullish Expectations

Jan 13

Shareholders Should Be Pleased With Shopify Inc.'s (NYSE:SHOP) Price

Dec 30
Shareholders Should Be Pleased With Shopify Inc.'s (NYSE:SHOP) Price

Growing Top-Line One Merchant At A Time: Shopify - Initiating With A Buy

Dec 24

Is Shopify (NYSE:SHOP) A Risky Investment?

Dec 14
Is Shopify (NYSE:SHOP) A Risky Investment?

Shopify Stock Is A Black Friday Beneficiary That Faces Key Test In Q4

Dec 10

Shopify: Wait For The Buy Zone

Nov 22
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Narrative update from Goran Damchevski

Nov 18Shopify is executing on its core business and growing above my 18% estimates.

Can Shopify Re-Rate Higher After The Q3 2024 Earnings Outperformance Rally?

Nov 12

Shopify: One Of The Best E-Commerce Platforms But Too Expensive

Oct 28

Estimating The Fair Value Of Shopify Inc. (NYSE:SHOP)

Oct 18
Estimating The Fair Value Of Shopify Inc. (NYSE:SHOP)

Shopify: More Upside Ahead, But Look For Exits Soon (Rating Downgrade)

Oct 16

Shopify: There Is A Light At The End Of The Tunnel (Rating Upgrade)

Oct 03

How Shopify Is Disrupting Lending And Driving Massive Stock Growth

Sep 27

Shopify: Optimistic Guidance Drives A Sharp Rise In Stock Price

Sep 13

Shopify Continues Increasing Operating Income

Sep 06
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Expanding Global Reach And Product Suite Positions Company For Robust Revenue Surge

Sep 02 Shopify's expansion in international markets and product ranges is significantly growing its global market share, promising higher revenue.

Why Investors Shouldn't Be Surprised By Shopify Inc.'s (NYSE:SHOP) 36% Share Price Surge

Sep 01
Why Investors Shouldn't Be Surprised By Shopify Inc.'s (NYSE:SHOP) 36% Share Price Surge

Shopify's Unseen Advantage: Strong Earnings In A Weak Consumer Environment

Aug 22

Shopify (NYSE:SHOP) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of

Aug 20
Shopify (NYSE:SHOP) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of

Shopify: Strong Returns Still Ahead, Buy Before It's Too Late

Aug 16

Shopify: Solid Value For Growth Investors

Aug 09

Shopify Q2 Earnings Preview: Don't Ignore The Enterprise Customer Tailwind

Jul 29

Shopify: The Market Leader Deserves A Premium

Jul 19

Revenues Tell The Story For Shopify Inc. (NYSE:SHOP)

Jul 16
Revenues Tell The Story For Shopify Inc. (NYSE:SHOP)

We Like These Underlying Return On Capital Trends At Shopify (NYSE:SHOP)

Jun 28
We Like These Underlying Return On Capital Trends At Shopify (NYSE:SHOP)

Buy Shopify Before The Rebound (Technical Analysis)

Jun 24
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Large Brands and New Verticals to Push Revenues Higher But Cheap Ecomm Software Risks Remain

Jun 19Expanding the customer base with large brands via the Shopify Plus subscriptions is a profitable way to grow the business.

Shopify: Beyond The Short-Term Noise, A Long-Term Growth Story, Buy

Jun 06

Shopify: The Powerhouse Of Next-Generation Commerce

May 20

Shopify: Multiple Compression Should Matter In Coming Years

May 06

Shopify Direct Sales Should Win As Amazon Shifts Toward 'Pay To Play' Model

Apr 29

Shopify: Aggressive Expansion Path

Mar 25

Shopify: Way Too Cheap For What's Coming

Mar 17

CEO Compensation Analysis

How has Tobi Lütke's remuneration changed compared to Shopify's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2025n/an/a

US$2b

Dec 31 2024US$150mUS$1

US$2b

Sep 30 2024n/an/a

US$1b

Jun 30 2024n/an/a

US$1b

Mar 31 2024n/an/a

-US$209m

Dec 31 2023US$20mUS$1

US$132m

Sep 30 2023n/an/a

-US$1b

Jun 30 2023n/an/a

-US$2b

Mar 31 2023n/an/a

-US$2b

Dec 31 2022US$20mUS$1

-US$3b

Sep 30 2022n/an/a

-US$3b

Jun 30 2022n/an/a

-US$2b

Mar 31 2022n/an/a

US$182m

Dec 31 2021US$20mUS$1

US$3b

Sep 30 2021n/an/a

US$3b

Jun 30 2021n/an/a

US$2b

Mar 31 2021n/an/a

US$2b

Dec 31 2020US$15mUS$105k

US$320m

Sep 30 2020n/an/a

US$196m

Jun 30 2020n/an/a

-US$67m

Mar 31 2020n/an/a

-US$132m

Dec 31 2019US$11mUS$616k

-US$125m

Sep 30 2019n/an/a

-US$127m

Jun 30 2019n/an/a

-US$78m

Mar 31 2019n/an/a

-US$73m

Dec 31 2018US$9mUS$586k

-US$65m

Compensation vs Market: Tobi's total compensation ($USD150.00M) is above average for companies of similar size in the US market ($USD14.05M).

Compensation vs Earnings: Tobi's compensation has been consistent with company performance over the past year.

CEO

Tobi Lütke (43 yo)

20.7yrs

Tenure

US$150,000,084

Compensation

Mr. Tobias Lütke, also known as Tobi, Co-founded Shopify Inc. in September 2004 and serves as its Chairman and Head of R&D. He is an Independent Director of Coinbase Global, Inc. since February 02, 2022 an...

Leadership Team

NamePositionTenureCompensationOwnership
Tobias Lütke
Founder20.7yrsUS$150.00m6.13%
$ 8.8b
Harley Finkelstein
President4.6yrsUS$12.80m0.00036%
$ 517.3k
Jeff Hoffmeister
Chief Financial Officer2.6yrsUS$19.70m0.0043%
$ 6.1m
Kasra Nejatian
VP of Product & COO2.7yrsUS$1.00m0.015%
$ 21.2m
Jessica Hertz
General Counsel4.3yrsUS$13.40m0.00094%
$ 1.4m
Carrie Gillard
Director of Investor Relationsno datano datano data
Bharati Balakrishnan
Country Head & Director- India3.6yrsno datano data
Darryl Arvai
VP & Corporate Controllerno datano datano data
Michael Johnson
Corporate Secretaryno datano datano data
Vanessa Lee
Product Directorno datano datano data
Agatha Krajewski
Director of Productno datano datano data

4.0yrs

Average Tenure

Experienced Management: SHOP's management team is considered experienced (4 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Tobias Lütke
Founder21.3yrsUS$150.00m6.13%
$ 8.8b
Robert Ashe
Lead Independent Director10.4yrsUS$426.00k0.016%
$ 22.5m
Gail Goodman
Independent Director8.5yrsUS$387.52k0.0054%
$ 7.8m
Jeremy Levine
Independent Director14.3yrsno data0.056%
$ 79.8m
Toby Shannan
Director2.3yrsUS$347.63k0.020%
$ 29.4m
David Hansson
Independent Directorless than a yearUS$400.11kno data
James Scott
Independent Directorless than a yearUS$410.73kno data
Prashanth Mahendra-Rajah
Independent Directorless than a yearUS$721.22k0.000010%
$ 14.4k
Fidji Simo
Independent Director3.4yrsUS$365.52k0.00098%
$ 1.4m
Lulu Meservey
Independent Directorless than a yearUS$716.28kno data

2.9yrs

Average Tenure

51yo

Average Age

Experienced Board: SHOP's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/18 07:28
End of Day Share Price 2025/05/16 00:00
Earnings2025/03/31
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 82 analysts. 47 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
Richard KramerArete Research Services LLP
Rocco StraussArete Research Services LLP