Shopify Inc
NYSE:SHOP

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Shopify Inc
NYSE:SHOP
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Price: 94.45 USD -4.52%
Market Cap: 122.3B USD
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Relative Value

The Relative Value of one SHOP stock under the Base Case scenario is 30.15 USD. Compared to the current market price of 94.45 USD, Shopify Inc is Overvalued by 68%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

SHOP Relative Value
Base Case
30.15 USD
Overvaluation 68%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
47
vs Industry
6
Median 3Y
12.3
Median 5Y
14.2
Industry
2.3
Forward
11.2
vs History
41
vs Industry
9
Median 3Y
-12.8
Median 5Y
49.2
Industry
22.1
Forward
63.9
vs History
73
vs Industry
6
Median 3Y
93.3
Median 5Y
144.7
Industry
16.7
vs History
68
vs Industry
8
Median 3Y
88.8
Median 5Y
109
Industry
20.9
vs History
50
vs Industry
9
Median 3Y
8.8
Median 5Y
11.1
Industry
2.8
vs History
47
vs Industry
7
Median 3Y
11.8
Median 5Y
13.6
Industry
2.3
Forward
10.7
vs History
50
vs Industry
7
Median 3Y
23.1
Median 5Y
27.4
Industry
4.6
vs History
44
vs Industry
4
Median 3Y
-66.1
Median 5Y
99.8
Industry
12.2
Forward
57.6
vs History
39
vs Industry
4
Median 3Y
-63.2
Median 5Y
86.3
Industry
15.7
Forward
60.4
vs History
73
vs Industry
6
Median 3Y
89.2
Median 5Y
131.9
Industry
15.1
vs History
68
vs Industry
6
Median 3Y
83
Median 5Y
124.2
Industry
18.1
vs History
60
vs Industry
5
Median 3Y
13.8
Median 5Y
18
Industry
2.3

Multiples Across Competitors

SHOP Competitors Multiples
Shopify Inc Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
Shopify Inc
NYSE:SHOP
123.9B USD 13.9 61 106.6 110.1
US
Snowflake Inc.
NYSE:SNOW
52.6B USD 14.5 -41 -39.5 -34.5
US
Cloudflare Inc
NYSE:NET
41.1B USD 24.7 -523.5 -1 500.4 -262.1
US
GoDaddy Inc
NYSE:GDDY
26.2B USD 5.8 28.1 27.1 31
US
Verisign Inc
NASDAQ:VRSN
26.2B USD 16.6 33.1 24.7 25.5
ID
DCI Indonesia Tbk PT
IDX:DCII
393.7T IDR 217.2 494.3 403.9 403.9
US
Okta Inc
NASDAQ:OKTA
19.3B USD 7.4 688.4 685.1 -271.9
US
Twilio Inc
NYSE:TWLO
14.5B USD 3.3 -133.4 79.1 -323.8
US
MongoDB Inc
NASDAQ:MDB
13.7B USD 6.9 -107.1 -57 -52.9
US
Akamai Technologies Inc
NASDAQ:AKAM
12B USD 3 23.8 9.4 18.1
IL
Wix.Com Ltd
NASDAQ:WIX
9.4B USD 5.3 67.8 63 82.5
P/S Multiple
Revenue Growth P/S to Growth
CA
Shopify Inc
NYSE:SHOP
Average P/S: 29
13.9
23%
0.6
US
Snowflake Inc.
NYSE:SNOW
14.5
24%
0.6
US
Cloudflare Inc
NYSE:NET
24.7
27%
0.9
US
GoDaddy Inc
NYSE:GDDY
5.8
8%
0.7
US
Verisign Inc
NASDAQ:VRSN
16.6
5%
3.3
ID
DCI Indonesia Tbk PT
IDX:DCII
217.2
N/A N/A
US
Okta Inc
NASDAQ:OKTA
7.4
11%
0.7
US
Twilio Inc
NYSE:TWLO
3.3
9%
0.4
US
MongoDB Inc
NASDAQ:MDB
6.9
16%
0.4
US
Akamai Technologies Inc
NASDAQ:AKAM
3
7%
0.4
IL
Wix.Com Ltd
NASDAQ:WIX
5.3
13%
0.4
P/E Multiple
Earnings Growth PEG
CA
Shopify Inc
NYSE:SHOP
Average P/E: 199.5
61
20%
3
US
Snowflake Inc.
NYSE:SNOW
Negative Multiple: -41 N/A N/A
US
Cloudflare Inc
NYSE:NET
Negative Multiple: -523.5 N/A N/A
US
GoDaddy Inc
NYSE:GDDY
28.1
12%
2.3
US
Verisign Inc
NASDAQ:VRSN
33.1
9%
3.7
ID
DCI Indonesia Tbk PT
IDX:DCII
494.3
N/A N/A
US
Okta Inc
NASDAQ:OKTA
688.4
181%
3.8
US
Twilio Inc
NYSE:TWLO
Negative Multiple: -133.4 N/A N/A
US
MongoDB Inc
NASDAQ:MDB
Negative Multiple: -107.1 N/A N/A
US
Akamai Technologies Inc
NASDAQ:AKAM
23.8
31%
0.8
IL
Wix.Com Ltd
NASDAQ:WIX
67.8
63%
1.1
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
Shopify Inc
NYSE:SHOP
Average EV/EBITDA: 174.9
106.6
51%
2.1
US
Snowflake Inc.
NYSE:SNOW
Negative Multiple: -39.5 N/A N/A
US
Cloudflare Inc
NYSE:NET
Negative Multiple: -1 500.4 N/A N/A
US
GoDaddy Inc
NYSE:GDDY
27.1
22%
1.2
US
Verisign Inc
NASDAQ:VRSN
24.7
7%
3.5
ID
DCI Indonesia Tbk PT
IDX:DCII
403.9
N/A N/A
US
Okta Inc
NASDAQ:OKTA
685.1
251%
2.7
US
Twilio Inc
NYSE:TWLO
79.1
102%
0.8
US
MongoDB Inc
NASDAQ:MDB
Negative Multiple: -57 N/A N/A
US
Akamai Technologies Inc
NASDAQ:AKAM
9.4
14%
0.7
IL
Wix.Com Ltd
NASDAQ:WIX
63
77%
0.8
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CA
Shopify Inc
NYSE:SHOP
Average EV/EBIT: 111.9
110.1
48%
2.3
US
Snowflake Inc.
NYSE:SNOW
Negative Multiple: -34.5 N/A N/A
US
Cloudflare Inc
NYSE:NET
Negative Multiple: -262.1 N/A N/A
US
GoDaddy Inc
NYSE:GDDY
31
19%
1.6
US
Verisign Inc
NASDAQ:VRSN
25.5
5%
5.1
ID
DCI Indonesia Tbk PT
IDX:DCII
403.9
N/A N/A
US
Okta Inc
NASDAQ:OKTA
Negative Multiple: -271.9 N/A N/A
US
Twilio Inc
NYSE:TWLO
Negative Multiple: -323.8 N/A N/A
US
MongoDB Inc
NASDAQ:MDB
Negative Multiple: -52.9 N/A N/A
US
Akamai Technologies Inc
NASDAQ:AKAM
18.1
25%
0.7
IL
Wix.Com Ltd
NASDAQ:WIX
82.5
90%
0.9