Balance Sheet Shopify Inc.

Equities

SHOP

CA82509L1076

Internet Services

Market Closed - Nyse Other stock markets 04:00:02 2025-01-10 pm EST			5-day change	1st Jan Change
103.71 ^USD	-3.65%		-5.07%	-2.46%

Jan. 08	RBC Expects S&P/TSX Info Tech Sector to Shine in 2025	MT
Jan. 07	TSX Closer: Political Turmoil and Weak Tech Stocks Sink the Index Again	MT

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Published financial data: SHOPIFY INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.58B	2.93B	4.61B	5.6B	7.06B
Total Revenues	1.58B	2.93B	4.61B	5.6B	7.06B
Cost of Goods Sold, Total	713M	1.39B	2.13B	2.85B	3.54B
Gross Profit	866M	1.54B	2.48B	2.75B	3.52B
Selling General & Admin Expenses, Total	645M	804M	1.22B	1.73B	1.62B
R&D Expenses	344M	518M	819M	1.49B	1.61B
Other Operating Expenses	17.79M	46.38M	65.32M	13.41M	21M
Other Operating Expenses, Total	1.01B	1.37B	2.1B	3.23B	3.26B
Operating Income	-141M	174M	381M	-476M	260M
Interest Expense, Total	-	-9.08M	-3.49M	-3.5M	-
Interest And Investment Income	48.18M	23.43M	15.36M	79.14M	241M
Net Interest Expenses	48.18M	14.35M	11.86M	75.64M	241M
Income (Loss) On Equity Invest.	-	-	-	-	-58M
Currency Exchange Gains (Loss)	-2.85M	669K	286K	-1.9M	1M
Other Non Operating Income (Expenses)	-	-51.85M	-81.72M	-135M	-152M
EBT, Excl. Unusual Items	-95.82M	137M	311M	-537M	292M
Restructuring Charges	-	-	-	-30.5M	-148M
Gain (Loss) On Sale Of Investments	-	135M	2.86B	-2.87B	1.42B
Gain (Loss) On Sale Of Assets	-	-	-	-	-1.34B
Asset Writedown	-	-31.62M	-30.14M	-84.31M	-38M
Legal Settlements	-	-	-	-97M	-
EBT, Incl. Unusual Items	-95.82M	240M	3.14B	-3.62B	185M
Income Tax Expense	29.03M	-79.14M	226M	-162M	53M
Earnings From Continuing Operations	-125M	320M	2.91B	-3.46B	132M
Net Income to Company	-125M	320M	2.91B	-3.46B	132M
Net Income - (IS)	-125M	320M	2.91B	-3.46B	132M
Net Income to Common Incl Extra Items	-125M	320M	2.91B	-3.46B	132M
Net Income to Common Excl. Extra Items	-125M	320M	2.91B	-3.46B	132M
Per Share Items
Net EPS - Basic	-0.11	0.27	2.34	-2.73	0.1
Basic EPS - Continuing Operations	-0.11	0.27	2.34	-2.73	0.1
Basic Weighted Average Shares Outstanding	1.13B	1.2B	1.25B	1.27B	1.28B
Net EPS - Diluted	-0.11	0.26	2.29	-2.73	0.1
Diluted EPS - Continuing Operations	-0.11	0.26	2.29	-2.73	0.1
Diluted Weighted Average Shares Outstanding	1.13B	1.23B	1.27B	1.27B	1.3B
Normalized Basic EPS	-0.05	0.07	0.16	-0.26	0.14
Normalized Diluted EPS	-0.05	0.07	0.15	-0.26	0.14
American Depositary Receipts Ratio (ADR)	0.01	0.01	0.01	0.01	0.01
Supplemental Items
EBITDA	-113M	235M	445M	-385M	330M
EBITA	-130M	196M	403M	-421M	298M
EBIT	-141M	174M	381M	-476M	260M
EBITDAR	-83.62M	270M	480M	-338M	378M
Total Revenues (As Reported)	1.58B	2.93B	4.61B	5.6B	7.06B
Effective Tax Rate - (Ratio)	-30.29	-32.93	7.19	4.48	28.65
Current Domestic Taxes	-	-54.25M	1.82M	508K	1M
Current Foreign Taxes	-	19.91M	33.16M	23.63M	-55M
Total Current Taxes	-	-34.34M	34.97M	24.14M	-54M
Deferred Domestic Taxes	-	12.55M	192M	-180M	-2M
Deferred Foreign Taxes	-	-57.35M	-626K	-6.51M	3M
Total Deferred Taxes	-	-44.8M	191M	-187M	1M
Normalized Net Income	-59.88M	85.5M	194M	-335M	182M
Interest on Long-Term Debt	-	9.08M	3.49M	3.5M	4M
Supplemental Operating Expense Items
Advertising Expense	178M	241M	420M	505M	497M
Selling and Marketing Expenses	469M	596M	896M	1.22B	1.19B
General and Administrative Expenses	176M	207M	321M	513M	433M
Research And Development Expense From Footnotes	362M	561M	856M	1.5B	1.73B
Net Rental Expense, Total	29.34M	35.65M	35.27M	47.19M	48M
Imputed Operating Lease Interest Expense	-	4.87M	945K	1.03M	-
Imputed Operating Lease Depreciation	-	30.79M	34.33M	46.16M	-
Stock-Based Comp., COGS (Total)	3.57M	6.48M	6.68M	8.59M	4M
Stock-Based Comp., R&D Exp. (Total)	93.55M	154M	215M	387M	481M
Stock-Based Comp., S&M Exp. (Total)	33.92M	40.68M	41.55M	63.26M	56M
Stock-Based Comp., G&A Exp. (Total)	27.42M	45.66M	67.35M	90.7M	74M
Total Stock-Based Compensation	158M	247M	331M	549M	615M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	650M	2.7B	2.5B	1.65B	1.41B
Short Term Investments	1.82B	3.69B	5.29B	3.44B	3.63B
Total Cash And Short Term Investments	2.47B	6.4B	7.79B	5.09B	5.04B
Accounts Receivable, Total	41.29M	63.52M	127M	203M	194M
Other Receivables	49.24M	114M	70.1M	75.1M	98M
Notes Receivable	26.19M	40.88M	69.7M	209M	672M
Total Receivables	117M	219M	267M	487M	964M
Prepaid Expenses	20.84M	25.05M	49.92M	48.02M	55M
Other Current Assets, Total	139M	237M	433M	428M	217M
Total Current Assets	2.74B	6.88B	8.54B	6.05B	6.28B
Gross Property Plant And Equipment	292M	311M	429M	640M	303M
Accumulated Depreciation	-46.26M	-99.61M	-127M	-154M	-156M
Net Property Plant And Equipment	246M	211M	302M	486M	147M
Long-term Investments	-	173M	3.96B	1.95B	4.38B
Goodwill	312M	312M	357M	1.84B	427M
Other Intangibles, Total	167M	136M	138M	390M	29M
Deferred Tax Assets Long-Term	19.43M	52.68M	48.37M	40.82M	44M
Total Assets	3.49B	7.76B	13.34B	10.76B	11.3B
Liabilities
Accounts Payable, Total	90.52M	169M	284M	364M	364M
Accrued Expenses, Total	84.39M	116M	138M	115M	128M
Current Portion of Leases	9.07M	10.05M	15.75M	18.16M	17M
Current Income Taxes Payable	69.43M	19.68M	13.5M	9.39M	18M
Unearned Revenue Current, Total	56.69M	108M	217M	296M	302M
Other Current Liabilities	6.29M	16.09M	34.59M	53.56M	69M
Total Current Liabilities	316M	438M	703M	856M	898M
Long-Term Debt	-	758M	911M	913M	916M
Long-Term Leases	143M	145M	247M	465M	217M
Unearned Revenue Non Current	5.97M	21.01M	163M	268M	196M
Deferred Tax Liability Non Current	8.75M	-	183M	16.29M	6M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	474M	1.36B	2.21B	2.52B	2.23B
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	3.26B	6.12B	8.04B	8.75B	9.2B
Additional Paid In Capital	62.63M	261M	161M	30.21M	251M
Retained Earnings	-304M	15.28M	2.94B	-522M	-390M
Comprehensive Income and Other	1.05M	8.77M	-5.97M	-16.47M	4M
Total Common Equity	3.02B	6.4B	11.13B	8.24B	9.07B
Total Equity	3.02B	6.4B	11.13B	8.24B	9.07B
Total Liabilities And Equity	3.49B	7.76B	13.34B	10.76B	11.3B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.17B	1.23B	1.26B	1.28B	1.29B
ECS Total Common Shares Outstanding	1.16B	1.23B	1.26B	1.28B	1.29B
Book Value / Share	2.59	5.22	8.84	6.46	7.05
Tangible Book Value	2.54B	5.95B	10.64B	6.01B	8.61B
Tangible Book Value Per Share	2.18	4.86	8.45	4.72	6.69
Total Debt	152M	913M	1.17B	1.4B	1.15B
Net Debt	-2.32B	-5.48B	-6.62B	-3.69B	-3.89B
Debt Equivalent Oper. Leases	235M	285M	282M	378M	384M
Equity Method Investments, Total	-	-	-	-	780M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	47.18M	60.52M	73.74M	103M	63M
Full Time Employees	5K	7K	10K	11.6K	8.3K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-125M	320M	2.91B	-3.46B	132M
Depreciation & Amortization - CF	16.78M	38.19M	41.83M	36.17M	32M
Amortization of Goodwill and Intangible Assets - (CF)	11.41M	22.84M	22.88M	54.35M	38M
Depreciation & Amortization, Total	28.19M	61.03M	64.71M	90.52M	70M
Amortization of Deferred Charges, Total - (CF)	7.46M	17.79M	3.94M	2.35M	-
(Gain) Loss From Sale Of Asset	-	-	-	-	1.34B
(Gain) Loss on Sale of Investments - (CF)	-	-135M	-2.86B	2.92B	-1.42B
Asset Writedown & Restructuring Costs	-	31.62M	30.14M	84.31M	38M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	58M
Stock-Based Compensation (CF)	158M	247M	331M	549M	615M
Other Operating Activities, Total	-18.82M	-16.4M	181M	-223M	-85M
Change In Accounts Receivable	-56.18M	-29.15M	-72.3M	-105M	-98M
Change In Accounts Payable	84.56M	119M	138M	36.54M	69M
Change in Unearned Revenues	12.3M	66.16M	309M	305M	60M
Change In Income Taxes	-	-	45.26M	-3.94M	-
Change In Deferred Taxes	64.65M	-106M	-	-	-
Change in Other Net Operating Assets	-85.16M	-150M	-581M	-332M	164M
Cash from Operations	70.62M	425M	504M	-136M	944M
Capital Expenditure	-56.76M	-41.73M	-50.79M	-50.02M	-39M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-266M	-	-59.63M	-1.75B	-31M
Sale (Purchase) of Intangible assets	-5.64M	-262K	-	-	-
Investment in Marketable and Equity Securities, Total	-242M	-1.89B	-2.24B	1.24B	-615M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-159M	-523M
Other Investing Activities, Total	-	-	-	-	-36M
Cash from Investing	-569M	-1.93B	-2.35B	-719M	-1.24B
Long-Term Debt Issued, Total	-	908M	-	-	-
Total Debt Issued	-	908M	-	-	-
Issuance of Common Stock	736M	2.65B	1.65B	17.55M	60M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	736M	3.56B	1.65B	17.55M	60M
Foreign Exchange Rate Adjustments	1.74M	3.22M	-7M	-16.2M	4M
Net Change in Cash	239M	2.05B	-201M	-854M	-236M
Supplemental Items
Cash Interest Paid	-	-	1.29M	1.15M	1M
Cash Income Tax Paid (Refund)	-	-	-10.47M	27.29M	50M
Levered Free Cash Flow	85.25M	301M	574M	230M	578M
Unlevered Free Cash Flow	85.25M	298M	574M	230M	578M
Change In Net Working Capital	-41.76M	85.27M	10.57M	62.83M	230M
Net Debt Issued / Repaid	-	908M	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-3.07	1.93	2.25	-2.47	1.47
Return on Total Capital	-3.36	2.07	2.42	-2.71	1.64
Return On Equity %	-4.89	6.79	33.25	-35.73	1.53
Return on Common Equity	-4.89	6.79	33.25	-35.73	1.53
Margin Analysis
Gross Profit Margin %	54.85	52.62	53.8	49.18	49.79
SG&A Margin	40.88	27.43	26.38	30.91	22.97
EBITDA Margin %	-7.16	8.01	9.65	-6.88	4.67
EBITA Margin %	-8.22	6.71	8.75	-7.52	4.22
EBIT Margin %	-8.94	5.93	8.25	-8.49	3.68
Income From Continuing Operations Margin %	-7.91	10.91	63.2	-61.79	1.87
Net Income Margin %	-7.91	10.91	63.2	-61.79	1.87
Net Avail. For Common Margin %	-7.91	10.91	63.2	-61.79	1.87
Normalized Net Income Margin	-3.79	2.92	4.21	-5.99	2.58
Levered Free Cash Flow Margin	5.4	10.29	12.44	4.1	8.19
Unlevered Free Cash Flow Margin	5.4	10.18	12.44	4.1	8.19
Asset Turnover
Asset Turnover	0.55	0.52	0.44	0.46	0.64
Fixed Assets Turnover	10.26	12.8	17.97	14.22	22.31
Receivables Turnover (Average Receivables)	48.46	55.9	48.38	33.96	35.57
Short Term Liquidity
Current Ratio	8.68	15.69	12.15	7.07	6.99
Quick Ratio	8.09	15	11.37	6.27	5.94
Operating Cash Flow to Current Liabilities	0.22	0.97	0.72	-0.16	1.05
Days Sales Outstanding (Average Receivables)	7.53	6.55	7.54	10.75	10.26
Average Days Payable Outstanding	38.88	34.18	38.78	41.54	37.48
Long Term Solvency
Total Debt/Equity	5.03	14.26	10.54	16.95	12.68
Total Debt / Total Capital	4.79	12.48	9.54	14.49	11.26
LT Debt/Equity	4.73	14.11	10.4	16.73	12.5
Long-Term Debt / Total Capital	4.5	12.34	9.41	14.31	11.09
Total Liabilities / Total Assets	13.58	17.55	16.54	23.41	19.76
EBIT / Interest Expense	-	19.11	108.93	-135.91	-
EBITDA / Interest Expense	-	29.75	137.56	-96.56	-
(EBITDA - Capex) / Interest Expense	-	25.16	123.02	-110.85	-
Total Debt / EBITDA	-1.81	3.38	2.44	-4.13	3.04
Net Debt / EBITDA	27.7	-20.29	-13.77	10.92	-10.29
Total Debt / (EBITDA - Capex)	-1.08	3.99	2.73	-3.6	3.39
Net Debt / (EBITDA - Capex)	16.5	-23.99	-15.4	9.51	-11.47
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	47.05	85.63	57.43	21.42	26.07
Gross Profit, 1 Yr. Growth %	45.18	78.08	60.95	11	27.63
EBITDA, 1 Yr. Growth %	64.42	-367.29	89.73	-186.17	-186.16
EBITA, 1 Yr. Growth %	51.54	-287.88	105.33	-204.01	-170.62
EBIT, 1 Yr. Growth %	53.55	-249.71	119.15	-224.98	-154.62
Earnings From Cont. Operations, 1 Yr. Growth %	93.39	-355.93	812.23	-218.72	-103.82
Net Income, 1 Yr. Growth %	93.39	-355.93	812.23	-218.72	-103.82
Normalized Net Income, 1 Yr. Growth %	48.43	-242.77	127.3	-272.62	-154.28
Diluted EPS Before Extra, 1 Yr. Growth %	80.81	-334.49