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Side-by-side financial comparison of Dover Corporation (DOV) 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 $2.1B, roughly 1.7× Dover Corporation). SHOPIFY INC. runs the higher net margin — 20.2% vs 13.4%, a 6.8% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 12.5%). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs -1.8%).
Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under the symbol DOV. Dover was ranked 448 in the 2024 Fortu...
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.
DOV vs SHOP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $3.7B |
| Net Profit | $282.1M | $743.0M |
| Gross Margin | 39.1% | 46.1% |
| Operating Margin | 16.5% | 17.2% |
| Net Margin | 13.4% | 20.2% |
| Revenue YoY | 12.5% | 30.6% |
| Net Profit YoY | 22.2% | -42.5% |
| EPS (diluted) | $2.06 | $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.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $3.7B | ||
| Q3 25 | $2.1B | $2.8B | ||
| Q2 25 | $2.0B | $2.7B | ||
| Q1 25 | $1.9B | $2.4B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $2.0B | $2.2B | ||
| Q2 24 | $2.2B | $2.0B |
| Q1 26 | $282.1M | — | ||
| Q4 25 | $282.1M | $743.0M | ||
| Q3 25 | $302.0M | $264.0M | ||
| Q2 25 | $279.1M | $906.0M | ||
| Q1 25 | $230.8M | $-682.0M | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $347.1M | $828.0M | ||
| Q2 24 | $281.8M | $171.0M |
| Q1 26 | 39.1% | — | ||
| Q4 25 | 39.1% | 46.1% | ||
| Q3 25 | 40.1% | 48.9% | ||
| Q2 25 | 39.9% | 48.6% | ||
| Q1 25 | 40.0% | 49.5% | ||
| Q4 24 | 41.4% | 48.1% | ||
| Q3 24 | 38.5% | 51.7% | ||
| Q2 24 | 37.7% | 51.1% |
| Q1 26 | 16.5% | — | ||
| Q4 25 | 16.5% | 17.2% | ||
| Q3 25 | 18.2% | 12.1% | ||
| Q2 25 | 17.3% | 10.9% | ||
| Q1 25 | 15.9% | 8.6% | ||
| Q4 24 | 14.0% | 16.5% | ||
| Q3 24 | 16.8% | 13.1% | ||
| Q2 24 | 17.0% | 11.8% |
| Q1 26 | 13.4% | — | ||
| Q4 25 | 13.4% | 20.2% | ||
| Q3 25 | 14.5% | 9.3% | ||
| Q2 25 | 13.6% | 33.8% | ||
| Q1 25 | 12.4% | -28.9% | ||
| Q4 24 | 96.4% | 46.0% | ||
| Q3 24 | 17.5% | 38.3% | ||
| Q2 24 | 12.9% | 8.4% |
| Q1 26 | $2.06 | — | ||
| Q4 25 | $2.06 | $0.58 | ||
| Q3 25 | $2.19 | $0.20 | ||
| Q2 25 | $2.02 | $0.69 | ||
| Q1 25 | $1.67 | $-0.53 | ||
| Q4 24 | $10.38 | $0.99 | ||
| Q3 24 | $2.51 | $0.64 | ||
| Q2 24 | $2.04 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $5.8B |
| Total DebtLower is stronger | $3.3B | — |
| Stockholders' EquityBook value | $7.4B | $13.5B |
| Total Assets | $13.4B | $15.2B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $5.8B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $5.8B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.1B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — |
| Q1 26 | $7.4B | — | ||
| Q4 25 | $7.4B | $13.5B | ||
| Q3 25 | $7.7B | $12.5B | ||
| Q2 25 | $7.4B | $12.1B | ||
| Q1 25 | $7.1B | $11.1B | ||
| Q4 24 | $7.0B | $11.6B | ||
| Q3 24 | $5.7B | $10.1B | ||
| Q2 24 | $5.4B | $9.2B |
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.4B | $15.2B | ||
| Q3 25 | $13.4B | $15.0B | ||
| Q2 25 | $13.2B | $14.6B | ||
| Q1 25 | $12.6B | $13.4B | ||
| Q4 24 | $12.5B | $13.9B | ||
| Q3 24 | $11.9B | — | ||
| Q2 24 | $11.3B | — |
| Q1 26 | 0.45× | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.41× | — | ||
| Q1 25 | 0.42× | — | ||
| Q4 24 | 0.42× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.55× | — |
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 | — | $725.0M |
| Free Cash FlowOCF − Capex | — | $715.0M |
| FCF MarginFCF / Revenue | — | 19.5% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | — | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $543.9M | $725.0M | ||
| Q3 25 | $424.2M | $513.0M | ||
| Q2 25 | $212.3M | $428.0M | ||
| Q1 25 | $157.5M | $367.0M | ||
| Q4 24 | $439.0M | $615.0M | ||
| Q3 24 | $353.2M | $423.0M | ||
| Q2 24 | $203.7M | $340.0M |
| Q1 26 | — | — | ||
| Q4 25 | $487.0M | $715.0M | ||
| Q3 25 | $370.1M | $507.0M | ||
| Q2 25 | $151.4M | $422.0M | ||
| Q1 25 | $109.3M | $363.0M | ||
| Q4 24 | $385.0M | $611.0M | ||
| Q3 24 | $325.0M | $421.0M | ||
| Q2 24 | $162.8M | $333.0M |
| Q1 26 | — | — | ||
| Q4 25 | 23.2% | 19.5% | ||
| Q3 25 | 17.8% | 17.8% | ||
| Q2 25 | 7.4% | 15.7% | ||
| Q1 25 | 5.9% | 15.4% | ||
| Q4 24 | 25.8% | 21.7% | ||
| Q3 24 | 16.4% | 19.5% | ||
| Q2 24 | 7.5% | 16.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.7% | 0.3% | ||
| Q3 25 | 2.6% | 0.2% | ||
| Q2 25 | 3.0% | 0.2% | ||
| Q1 25 | 2.6% | 0.2% | ||
| Q4 24 | 3.6% | 0.1% | ||
| Q3 24 | 1.4% | 0.1% | ||
| Q2 24 | 1.9% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.93× | 0.98× | ||
| Q3 25 | 1.40× | 1.94× | ||
| Q2 25 | 0.76× | 0.47× | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.31× | 0.48× | ||
| Q3 24 | 1.02× | 0.51× | ||
| Q2 24 | 0.72× | 1.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOV
Segment breakdown not available.
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
