Shopify share price today

Shopify Inc.'s share price was $148.90 at the close on 6 November 2026. It has been stalling near its high for 7 weeks. That is 14.6% above its average price over the last 200 trading days. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 14 weeks in a row.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Shopify Inc. is in stage 3. The phase helps read everything below.

In the last 52 weeks it traded between $100 and $171, and at that close it sat 69% of the way up from that low.

Over the last 10 years the share price moved +4,703% while the S&P 500 moved +246%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Shopify Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes.

Shopify is on 2 of our US lists: Nasdaq 100 companies and US tech stocks.

Shopify Inc. earned $462 M of net profit in the Sep 2026 quarter, +75.0% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY25 profit was $1.2 B. Over 4 years profit has grown −19.4% a year on average. That is 12.3% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned $264 M. 3 of the last 12 reported quarters were loss-making.

For the full year, FY25 profit was $1.2 B (−39.0% on the year before).

Why profit moved: revenue changed +31.6% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +32.8% and revenue +32.6%. Profit and revenue are moving at about the same pace.

Shopify Inc. reported $3.7 B of revenue in the Sep 2026 quarter, +31.6% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 4 years it has grown 25.8% a year on average. The last full year, FY25, came in at $11.6 B.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to $14.2 B.

FY25 revenue was $11.6 B, +30.1% on the year before.

Recent pace: the last four quarters grew +32.6% on average, against 25.8% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +32.5%, against +31.3% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +19.4%, against +24.0% a year (rolling over).

Shopify Inc.'s operating margin was 18.4% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 5 years it has been between −8.5% and 16.4%. The latest quarter is above every full year in that period.

Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Across 5 years it has been between −8.5% and 16.4%, and FY25's 16.4% is the highest of them.

Why the margin moved: operating margin changed +1.0 percentage points on the year while gross margin changed −1.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 136% of Shopify Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $2.0 B of operating cash against $1.2 B of profit. After $26.0 M of spending on assets, $2.0 B was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.

Shopify Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $84.0 M on assets over the last 3 years. Averaged over those years that is 0.2% of FY25 revenue a year.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.

Spending on assets: $84.0 M over the last 3 years.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Shopify Inc.'s P/E is 91.2×, in the middle of its own history: higher than 36% of past readings. Its usual P/E (the middle reading) is 109.6×, over 4.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.