Shopify Inc. (SHOP) scored on five pillars from its reported financial statements, and ranked against 260 Technology companies.
Shopify Inc. (SHOP) scores 5.5 out of 10 as of , computed from its reported financial statements. That reads as solid quality. The reading rests on efficiency, and predictability is what holds it back.
2 pillars, solvency and growth, are unscored because the filings behind them carry too little to judge. Each is shown as a dash rather than a zero, and the overall score is the weighted average of what could be scored.
Data provided by Twelve Data. Scores are computed by Lemma Analysis from reported financials.
We cannot judge Shopify Inc. yet, because fewer than five years had both a return on capital and a cost of capital we could measure. This is not a “no”.
Quantitative signs of a moat, read from the filed statements. This is not a judgement of where it comes from (brand, network effects, switching costs). How Lemma measures a moat →
On the filings behind it, Shopify Inc. earns 5.5 out of 10 for business quality as of October 16, 2026. That is solid quality on our scale. A solid reading is a respectable business with clear strengths and at least one area that falls short of the best in its field. The figure is a weighted average of five pillars, each scored from 0 to 10 against sector-aware benchmarks from reported statements.
Among the 260 Technology companies with a published score, that ranks at the 42nd percentile, just below the middle of the group. A typical company in the group scores 5.9, and the best quarter starts from 6.7. Shopify Inc. is in line with that typical reading.
Profitability scores 5.1 out of 10, which reads as average. The median across 252 Technology companies is 4.6, so Shopify Inc. is above its peers on this pillar and ranks at the 58th percentile. An average profitability reading usually means the company earns a fair return without obvious pricing power, so the other pillars decide more of the story.
There is no solvency score for Shopify Inc.: too little of the pillar could be measured from the filings to give an honest reading. The overall is therefore the weighted average of the other pillars. Across 194 Technology companies the median for this pillar is 8.0. Without it the overall says nothing about how comfortably the company carries its debt.
There is no growth score for Shopify Inc.: too little of the pillar could be measured from the filings to give an honest reading. The overall is therefore the weighted average of the other pillars. Across 207 Technology companies the median for this pillar is 6.4. Growth needs at least three years of comparable annual statements, so a short or interrupted history leaves it blank.
Shopify Inc.’s efficiency score is 7.8 out of 10 (strong). Against a median of 7.1 among 240 Technology companies, that is above the group and the 71st percentile. Efficiency at this level means the company needs comparatively little capital to produce what it sells.
Shopify Inc.’s predictability score is 4.2 out of 10 (average). Against a median of 4.7 among 258 Technology companies, that is below the group and the 40th percentile. An average predictability reading means results have wobbled about as much as is normal for the sector.
This is a lopsided profile. Efficiency scores 7.8 but predictability only 4.2, a gap of 3.6 points, so the overall hides a business that is excellent in one respect and weak in another. An efficiency lead means the operation turns what it has into cash better than it does anything else. A predictability shortfall means the record is volatile, so the averages behind the other pillars move more than they appear to.
Of everything that could lift Shopify Inc.’s score, predictability matters most. Bringing it up to the 4.7 median of Technology companies would take the overall from 5.5 to roughly 5.7. Only three of the five pillars could be scored. Together they carry 60 of the 100 weight points (the full set is profitability 25, solvency 20, growth 20, efficiency 15, predictability 20), and the overall is the weighted average of those alone.
These are the Technology companies closest to Shopify Inc. in market value. Each has its own page scored on the same five pillars, so the comparison is like for like.
How much profit the company generates from its capital and sales.
The company’s ability to service debt and meet its obligations.
How fast revenue, earnings and cash flow are compounding.
How well assets and earnings convert into cash and output.
How stable and consistent results have been over time.
Each metric is scored from 0 to 10 against sector-aware benchmarks, where higher is better. Metrics roll up into five pillars, and the pillars combine into the overall score using the weights shown. Sector-sensitive metrics are judged relative to peers in the same sector.
This score is a systematic, backward-looking read of reported fundamentals. It does not judge valuation, management quality, competitive moat, or future prospects, and can be distorted by one-off items or unusual accounting. Treat it as a starting point, not a recommendation.
Educational only. Not investment advice.
On this reading Shopify Inc. scores 5.5 out of 10, which reads as solid quality. Its strongest pillar is efficiency, its weakest is predictability. Quality is not the same as a good investment: the score says nothing about the price you would pay.
Shopify Inc. ranks at the 42nd percentile of the 260 Technology companies Lemma publishes a score for. The median there is 5.9 and the top quarter starts at 6.7, against Shopify Inc.’s 5.5.
Five pillars, each scored from 0 to 10 against sector-aware benchmarks and then weighted into one overall reading: profitability, solvency, growth, efficiency and predictability. Everything comes from reported financials, and nothing comes from price, sentiment or forecasts.
This page last changed on October 16, 2026. The score moves with the financial statements, so the page changes when a new filing moves the reading rather than on a schedule. Live figures for SHOP are in the app.
No. Quality and valuation are separate questions, and a good business at the wrong price is still a bad purchase. Score the business here, then price it with a DCF you control.
Inside Lemma Analysis the same five pillars run on every company we cover, with the metrics behind each one, current fundamentals, a DCF you control and a watchlist that tells you when the price catches up.
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