Last Price$106.6(4.8%)
Market Cap$143.3B
LTM NOPAT
$974.2M
NOPAT margin
11.0%
5Y avg: (5.2%)
EPV as % of EV
6.4%
Market-Implied Value of Growth,
MIVoG as % of EV
93.6%
Discount rate
11.4%
Stock quality
8/10
Great
SHOP Earnings Power Value Model
| (USD M) | Mar'20 | Jun'20 | Sep'20 | Dec'20 | Mar'21 | Jun'21 | Sep'21 | Dec'21 | Mar'22 | Jun'22 | Sep'22 | Dec'22 | Mar'23 | Jun'23 | Sep'23 | Dec'23 | Mar'24 | Jun'24 | Sep'24 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTM Revenue % growth | 1,727.7 46.5% | 2,080.1 60.5% | 2,456.9 73.4% | 2,929.5 85.6% | 3,448.1 99.6% | 3,853.2 85.2% | 4,209.6 71.3% | 4,611.9 57.4% | 4,826.8 40.0% | 5,002.5 29.8% | 5,244.9 24.6% | 5,599.9 21.4% | 5,904.2 22.3% | 6,303.2 26.0% | 6,651.0 26.8% | 7,060.0 26.1% | 7,413.0 25.6% | 7,763.6 23.2% | 8,211.6 23.5% | 8,879.6 25.8% |
LTM NOPAT % growth | (164.2) N/A | (94.7) (42.3%) | (92.0) (2.9%) | 119.8 N/A | 272.0 127.0% | 399.8 47.0% | 334.5 (16.3%) | 249.3 (25.5%) | 79.6 (68.1%) | (264.2) N/A | (568.0) 115.0% | (785.4) 38.3% | (929.0) 18.3% | (2,396.7) 158.0% | (1,959.0) (18.3%) | (1,072.1) (45.3%) | (1,739.5) 62.3% | 613.0 N/A | 756.5 23.4% | 974.2 28.8% |
Discount rate | 7.6% | 7.5% | 7.6% | 7.8% | 8.6% | 8.3% | 8.4% | 8.4% | 9.1% | 9.7% | 10.3% | 10.5% | 10.2% | 10.6% | 11.3% | 10.7% | 11.0% | 11.1% | 10.5% | 11.4% |
| Earnings Power Value (EPV) | (2,167.2) | (1,257.1) | (1,217.8) | 1,540.0 | 3,172.1 | 4,793.3 | 3,983.6 | 2,979.4 | 872.2 | (2,717.9) | (5,514.8) | (7,499.7) | (9,098.2) | (22,676.8) | (17,325.7) | (10,056.3) | (15,853.1) | 5,517.8 | 7,182.6 | 8,578.4 |
Enterprise Value (EV) | 47,796.2 | 107,309.7 | 119,760.8 | 136,900.6 | 123,768.1 | 177,908.9 | 161,736.4 | 169,388.9 | 82,299.0 | 35,658.2 | 28,219.9 | 40,548.5 | 55,731.0 | 78,174.8 | 66,385.3 | 96,340.0 | 95,339.2 | 80,999.2 | 98,209.8 | 133,938.6 |
| Market-Implied Value of Growth (MIVoG) | 49,963.4 | 108,566.8 | 120,978.6 | 135,360.5 | 120,596.0 | 173,115.7 | 157,752.7 | 166,409.5 | 81,426.8 | 38,376.1 | 33,734.7 | 48,048.2 | 64,829.1 | 100,851.6 | 83,710.9 | 106,396.2 | 111,192.4 | 75,481.4 | 91,027.2 | 125,360.1 |
| EPV as % of EV | (4.5%) | (1.2%) | (1.0%) | 1.1% | 2.6% | 2.7% | 2.5% | 1.8% | 1.1% | (7.6%) | (19.5%) | (18.5%) | (16.3%) | (29.0%) | (26.1%) | (10.4%) | (16.6%) | 6.8% | 7.3% | 6.4% |
| MIVoG as % of EV | 104.5% | 101.2% | 101.0% | 98.9% | 97.4% | 97.3% | 97.5% | 98.2% | 98.9% | 107.6% | 119.5% | 118.5% | 116.3% | 129.0% | 126.1% | 110.4% | 116.6% | 93.2% | 92.7% | 93.6% |
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SHOP NOPAT
Annual
Quarterly
LTM
SHOP Earnings Power Value and Enterprise Value
Annual
LTM
Enterprise Value Breakdown
EPV and MIVoG as % of EV
SHOP vs Peer Set: Earnings Power Value comparison
General
Earnings power value
Financial metrics
Company name
EPV as % of EV
MIVoG as % of EV
Revenue growth
EPS growth
Net income margin
Shopify Inc.SHOP
6.4%
93.6%
25.8%
1,470.0%
22.7%
Median Peer Set
15.8%
84.2%
15.0%
67.5%
18.6%
Uber Technologies, Inc.UBER
54.8%
45.2%
18.0%
423.3%
22.4%
Coinbase Global, Inc.COIN
31.6%
68.4%
111.2%
2,507.5%
39.3%
Salesforce, Inc.CRM
21.0%
79.0%
11.2%
1,923.8%
11.9%
Intuit Inc.INTU
18.3%
81.7%
13.3%
24.8%
18.2%
SAP SESAP
17.0%
83.0%
3.7%
67.5%
19.7%
AppLovin CorporationAPP
14.5%
85.5%
16.5%
N/A
10.9%
Cadence Design Systems, Inc.CDNS
13.9%
86.1%
13.5%
0.8%
22.7%
ServiceNow, Inc.NOW
5.7%
94.3%
22.4%
(18.4%)
13.0%
Workday, Inc.WDAY
5.1%
94.9%
16.8%
N/A
19.0%
MicroStrategy IncorporatedMSTR
(13.0%)
113.0%
(6.6%)
N/A
(251.7%)
Explore more intrinsic value tools hub for SHOP
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FAQ
What is Shopify Inc. Earnings Power Value?
As of Dec 31, 2024, Shopify Inc.'s Earnings Power Value is approximately $8,578.4M.
What is Shopify Inc. EV (Enterprise Value)?
As of Dec 31, 2024, Shopify Inc.'s Enterprise Value (EV) estimates at $133.9B.
What is Shopify Inc. NOPAT?
As of Dec 31, 2024, Shopify Inc.'s Net operating profit after tax (NOPAT) is approximately $974.2M.