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Side-by-side financial comparison of Coca-Cola Consolidated, Inc. (COKE) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
SHOPIFY INC. is the larger business by last-quarter revenue ($3.7B vs $1.9B, roughly 1.9× Coca-Cola Consolidated, Inc.). SHOPIFY INC. runs the higher net margin — 20.2% vs 7.2%, a 13.0% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 9.0%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $106.7M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 9.4%).
Coca-Cola Consolidated, Inc., headquartered in Charlotte, North Carolina, is the largest independent Coca-Cola bottler in the United States.
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario that operates a platform for retail point-of-sale systems. The company has over 5 million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
COKE vs SHOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $3.7B |
| Net Profit | $137.3M | $743.0M |
| Gross Margin | 39.6% | 46.1% |
| Operating Margin | 12.7% | 17.2% |
| Net Margin | 7.2% | 20.2% |
| Revenue YoY | 9.0% | 30.6% |
| Net Profit YoY | -23.3% | -42.5% |
| EPS (diluted) | — | $0.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.9B | $3.7B | ||
| Q3 25 | $1.9B | $2.8B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.6B | $2.4B | ||
| Q4 24 | $1.7B | $2.8B | ||
| Q3 24 | $1.8B | $2.2B | ||
| Q2 24 | $1.8B | $2.0B | ||
| Q1 24 | $1.6B | $1.9B |
| Q4 25 | $137.3M | $743.0M | ||
| Q3 25 | $142.3M | $264.0M | ||
| Q2 25 | $187.4M | $906.0M | ||
| Q1 25 | $103.6M | $-682.0M | ||
| Q4 24 | $178.9M | $1.3B | ||
| Q3 24 | $115.6M | $828.0M | ||
| Q2 24 | $172.8M | $171.0M | ||
| Q1 24 | $165.7M | $-273.0M |
| Q4 25 | 39.6% | 46.1% | ||
| Q3 25 | 39.6% | 48.9% | ||
| Q2 25 | 40.0% | 48.6% | ||
| Q1 25 | 39.7% | 49.5% | ||
| Q4 24 | 40.0% | 48.1% | ||
| Q3 24 | 39.5% | 51.7% | ||
| Q2 24 | 39.9% | 51.1% | ||
| Q1 24 | 40.2% | 51.4% |
| Q4 25 | 12.7% | 17.2% | ||
| Q3 25 | 13.1% | 12.1% | ||
| Q2 25 | 14.7% | 10.9% | ||
| Q1 25 | 12.0% | 8.6% | ||
| Q4 24 | 12.5% | 16.5% | ||
| Q3 24 | 12.9% | 13.1% | ||
| Q2 24 | 14.4% | 11.8% | ||
| Q1 24 | 13.5% | 4.6% |
| Q4 25 | 7.2% | 20.2% | ||
| Q3 25 | 7.5% | 9.3% | ||
| Q2 25 | 10.1% | 33.8% | ||
| Q1 25 | 6.6% | -28.9% | ||
| Q4 24 | 10.2% | 46.0% | ||
| Q3 24 | 6.5% | 38.3% | ||
| Q2 24 | 9.6% | 8.4% | ||
| Q1 24 | 10.4% | -14.7% |
| Q4 25 | — | $0.58 | ||
| Q3 25 | — | $0.20 | ||
| Q2 25 | — | $0.69 | ||
| Q1 25 | — | $-0.53 | ||
| Q4 24 | — | $0.99 | ||
| Q3 24 | — | $0.64 | ||
| Q2 24 | — | $0.13 | ||
| Q1 24 | — | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $281.9M | $5.8B |
| Total DebtLower is stronger | $2.8B | — |
| Stockholders' EquityBook value | $-739.7M | $13.5B |
| Total Assets | $4.3B | $15.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $281.9M | $5.8B | ||
| Q3 25 | $1.5B | $6.3B | ||
| Q2 25 | $1.2B | $5.8B | ||
| Q1 25 | $1.2B | $5.5B | ||
| Q4 24 | $1.1B | $5.5B | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $401.3M | — |
| Q4 25 | $2.8B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $599.3M | — |
| Q4 25 | $-739.7M | $13.5B | ||
| Q3 25 | $1.6B | $12.5B | ||
| Q2 25 | $1.6B | $12.1B | ||
| Q1 25 | $1.5B | $11.1B | ||
| Q4 24 | $1.4B | $11.6B | ||
| Q3 24 | $1.3B | $10.1B | ||
| Q2 24 | $1.2B | $9.2B | ||
| Q1 24 | $1.6B | $8.9B |
| Q4 25 | $4.3B | $15.2B | ||
| Q3 25 | $5.7B | $15.0B | ||
| Q2 25 | $5.5B | $14.6B | ||
| Q1 25 | $5.4B | $13.4B | ||
| Q4 24 | $5.3B | $13.9B | ||
| Q3 24 | $5.3B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $4.3B | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.10× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 0.37× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $209.0M | $725.0M |
| Free Cash FlowOCF − Capex | $106.7M | $715.0M |
| FCF MarginFCF / Revenue | 5.6% | 19.5% |
| Capex IntensityCapex / Revenue | 5.4% | 0.3% |
| Cash ConversionOCF / Net Profit | 1.52× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $619.6M | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $209.0M | $725.0M | ||
| Q3 25 | $316.7M | $513.0M | ||
| Q2 25 | $208.1M | $428.0M | ||
| Q1 25 | $198.2M | $367.0M | ||
| Q4 24 | $168.5M | $615.0M | ||
| Q3 24 | $270.8M | $423.0M | ||
| Q2 24 | $242.9M | $340.0M | ||
| Q1 24 | $194.3M | $238.0M |
| Q4 25 | $106.7M | $715.0M | ||
| Q3 25 | $264.1M | $507.0M | ||
| Q2 25 | $148.5M | $422.0M | ||
| Q1 25 | $100.3M | $363.0M | ||
| Q4 24 | $84.8M | $611.0M | ||
| Q3 24 | $142.8M | $421.0M | ||
| Q2 24 | $160.5M | $333.0M | ||
| Q1 24 | $117.2M | $232.0M |
| Q4 25 | 5.6% | 19.5% | ||
| Q3 25 | 14.0% | 17.8% | ||
| Q2 25 | 8.0% | 15.7% | ||
| Q1 25 | 6.3% | 15.4% | ||
| Q4 24 | 4.9% | 21.7% | ||
| Q3 24 | 8.1% | 19.5% | ||
| Q2 24 | 8.9% | 16.3% | ||
| Q1 24 | 7.4% | 12.5% |
| Q4 25 | 5.4% | 0.3% | ||
| Q3 25 | 2.8% | 0.2% | ||
| Q2 25 | 3.2% | 0.2% | ||
| Q1 25 | 6.2% | 0.2% | ||
| Q4 24 | 4.8% | 0.1% | ||
| Q3 24 | 7.2% | 0.1% | ||
| Q2 24 | 4.6% | 0.3% | ||
| Q1 24 | 4.8% | 0.3% |
| Q4 25 | 1.52× | 0.98× | ||
| Q3 25 | 2.22× | 1.94× | ||
| Q2 25 | 1.11× | 0.47× | ||
| Q1 25 | 1.91× | — | ||
| Q4 24 | 0.94× | 0.48× | ||
| Q3 24 | 2.34× | 0.51× | ||
| Q2 24 | 1.41× | 1.99× | ||
| Q1 24 | 1.17× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COKE
| Transferred At Point In Time | $1.9B | 99% |
| Transferred Over Time | $15.1M | 1% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
