Shopify Past Earnings Performance
Past criteria checks 2/6
Shopify's earnings have been declining at an average annual rate of -15.9%, while the IT industry saw earnings growing at 5.9% annually. Revenues have been growing at an average rate of 29.3% per year. Shopify's return on equity is 13.7%, and it has net margins of 16.8%.
Key information
-15.9%
Earnings growth rate
-16.0%
EPS growth rate
| IT Industry Growth | 22.4% |
| Revenue growth rate | 29.3% |
| Return on equity | 13.7% |
| Net Margin | 16.8% |
| Last Earnings Update | 30 Sep 2024 |
Recent past performance updates
Recent updates
Is Shopify (NYSE:SHOP) A Risky Investment?
Dec 14
Shopify Stock Is A Black Friday Beneficiary That Faces Key Test In Q4
Dec 10Shopify: Wait For The Buy Zone
Nov 22Can Shopify Re-Rate Higher After The Q3 2024 Earnings Outperformance Rally?
Nov 12Shopify: One Of The Best E-Commerce Platforms But Too Expensive
Oct 28Estimating The Fair Value Of Shopify Inc. (NYSE:SHOP)
Oct 18Shopify: More Upside Ahead, But Look For Exits Soon (Rating Downgrade)
Oct 16Shopify: There Is A Light At The End Of The Tunnel (Rating Upgrade)
Oct 03How Shopify Is Disrupting Lending And Driving Massive Stock Growth
Sep 27Shopify: Optimistic Guidance Drives A Sharp Rise In Stock Price
Sep 13Shopify Continues Increasing Operating Income
Sep 06Why Investors Shouldn't Be Surprised By Shopify Inc.'s (NYSE:SHOP) 36% Share Price Surge
Sep 01Shopify's Unseen Advantage: Strong Earnings In A Weak Consumer Environment
Aug 22Shopify (NYSE:SHOP) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of
Aug 20Shopify: Strong Returns Still Ahead, Buy Before It's Too Late
Aug 16Shopify: Solid Value For Growth Investors
Aug 09Shopify Q2 Earnings Preview: Don't Ignore The Enterprise Customer Tailwind
Jul 29Shopify: The Market Leader Deserves A Premium
Jul 19Revenues Tell The Story For Shopify Inc. (NYSE:SHOP)
Jul 16We Like These Underlying Return On Capital Trends At Shopify (NYSE:SHOP)
Jun 28Buy Shopify Before The Rebound (Technical Analysis)
Jun 24Shopify: Beyond The Short-Term Noise, A Long-Term Growth Story, Buy
Jun 06Shopify: The Powerhouse Of Next-Generation Commerce
May 20Shopify: Multiple Compression Should Matter In Coming Years
May 06Shopify (NYSE:SHOP) Has A Rock Solid Balance Sheet
May 03Shopify Direct Sales Should Win As Amazon Shifts Toward 'Pay To Play' Model
Apr 29The Price Is Right For Shopify Inc. (NYSE:SHOP)
Apr 02Shopify: Aggressive Expansion Path
Mar 25Is Shopify Inc. (NYSE:SHOP) Expensive For A Reason? A Look At Its Intrinsic Value
Mar 18Shopify: Way Too Cheap For What's Coming
Mar 17Shopify (NYSE:SHOP) Is Looking To Continue Growing Its Returns On Capital
Mar 03Shopify: Disappointing Free Cash Flow Guidance, An Opportunity For Growth Investors
Feb 23Shopify Is Succeeding With Their Merchants
Feb 16Shopify: A Sanity Check Is Overdue (Rating Downgrade)
Feb 07Shopify: Strength Through Partnerships
Feb 01Shopify: It's Just Math, Decade Of Underperformance Ahead
Jan 18The 'New' Shopify Is Here
Jan 09Shopify: 3 Reasons To Buy In 2024
Jan 03What You Can Learn From Shopify Inc.'s (NYSE:SHOP) P/S
Dec 31Shopify Is A Special Company
Dec 11Shopify As An Operating System For E-Commerce
Dec 03Shopify's Q3 Earnings Beat The Odds: Is The Stock Still Overpriced Or Worth Every Penny?
Nov 06Shopify: Financial Discipline Is Taking Hold
Oct 31Shopify: Riding High On Promising Future Growth
Oct 13Shopify: Bull Run Is Likely Over
Sep 27Shopify Will Weather Cyclical Headwinds With 3 Factors Reinforcing Its Strengthening Moat
Sep 12Shopify Can Surprise With Better Growth Trajectory
Aug 31Shopify: Soaring Profits With A 2-Pronged Approach
Aug 19Make No Mistake, Shopify's AI Opportunities Are Massive (Rating Upgrade)
Aug 13Revolutionary Q2 2023 Results Cement Shopify's Ecommerce Dominance
Aug 04Revenue & Expenses Breakdown
How Shopify makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Sep 24 | 8,212 | 1,383 | 1,726 | 1,331 |
| 30 Jun 24 | 7,764 | 1,273 | 1,759 | 1,294 |
| 31 Mar 24 | 7,413 | -209 | 1,696 | 1,490 |
| 31 Dec 23 | 7,060 | 132 | 1,622 | 1,612 |
| 30 Sep 23 | 6,651 | -1,148 | 1,492 | 1,726 |
| 30 Jun 23 | 6,303 | -2,025 | 1,679 | 1,833 |
| 31 Mar 23 | 5,904 | -1,918 | 1,730 | 1,637 |
| 31 Dec 22 | 5,600 | -3,460 | 1,731 | 1,485 |
| 30 Sep 22 | 5,245 | -3,208 | 1,796 | 1,323 |
| 30 Jun 22 | 5,003 | -1,901 | 1,558 | 1,125 |
| 31 Mar 22 | 4,827 | 182 | 1,379 | 956 |
| 31 Dec 21 | 4,612 | 2,915 | 1,217 | 819 |
| 30 Sep 21 | 4,210 | 3,410 | 1,060 | 699 |
| 30 Jun 21 | 3,853 | 2,452 | 937 | 623 |
| 31 Mar 21 | 3,448 | 1,609 | 854 | 570 |
| 31 Dec 20 | 2,929 | 320 | 804 | 518 |
| 30 Sep 20 | 2,457 | 196 | 767 | 470 |
| 30 Jun 20 | 2,080 | -67 | 724 | 423 |
| 31 Mar 20 | 1,728 | -132 | 683 | 382 |
| 31 Dec 19 | 1,578 | -125 | 627 | 355 |
| 30 Sep 19 | 1,417 | -127 | 567 | 310 |
| 30 Jun 19 | 1,296 | -78 | 533 | 283 |
| 31 Mar 19 | 1,179 | -73 | 493 | 254 |
| 31 Dec 18 | 1,073 | -65 | 454 | 226 |
| 30 Sep 18 | 952 | -66 | 412 | 199 |
| 30 Jun 18 | 854 | -52 | 370 | 174 |
| 31 Mar 18 | 760 | -42 | 326 | 153 |
| 31 Dec 17 | 673 | -40 | 291 | 133 |
| 30 Sep 17 | 581 | -46 | 258 | 118 |
| 30 Jun 17 | 509 | -46 | 225 | 101 |
| 31 Mar 17 | 444 | -40 | 195 | 86 |
| 31 Dec 16 | 389 | -35 | 172 | 73 |
| 30 Sep 16 | 329 | -33 | 149 | 61 |
| 30 Jun 16 | 282 | -28 | 129 | 52 |
| 31 Mar 16 | 241 | -23 | 109 | 44 |
| 31 Dec 15 | 205 | -19 | 90 | 38 |
| 30 Sep 15 | 170 | -17 | 75 | 33 |
| 30 Jun 15 | 145 | -17 | 66 | 29 |
| 31 Mar 15 | 124 | -20 | 61 | 27 |
| 31 Dec 14 | 105 | -22 | 55 | 26 |
| 31 Dec 13 | 50 | -5 | 27 | 14 |
Quality Earnings: SHOP has a large one-off gain of $406.0M impacting its last 12 months of financial results to 30th September, 2024.
Growing Profit Margin: SHOP became profitable in the past.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: SHOP has become profitable over the past 5 years, growing earnings by -15.9% per year.
Accelerating Growth: SHOP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: SHOP has become profitable in the last year, making it difficult to compare its past year earnings growth to the IT industry (-2.6%).
Return on Equity
High ROE: SHOP's Return on Equity (13.7%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2024/12/22 01:54 |
| End of Day Share Price | 2024/12/20 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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 here.
Analysis Model and Snowflake
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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 .
Analyst Sources
Shopify Inc. is covered by 80 analysts. 46 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Harshit Gupta | Accountability Research Corporation |
| Richard Kramer | Arete Research Services LLP |
| Rocco Strauss | Arete Research Services LLP |