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Side-by-side financial comparison of Expeditors International (EXPD) 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 $2.9B, roughly 1.3× Expeditors International). SHOPIFY INC. runs the higher net margin — 20.2% vs 7.0%, a 13.2% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs -3.3%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $270.3M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 13.8%).
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
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.
EXPD vs SHOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $3.7B |
| Net Profit | $200.7M | $743.0M |
| Gross Margin | — | 46.1% |
| Operating Margin | 8.8% | 17.2% |
| Net Margin | 7.0% | 20.2% |
| Revenue YoY | -3.3% | 30.6% |
| Net Profit YoY | -14.9% | -42.5% |
| EPS (diluted) | $1.50 | $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 | $2.9B | $3.7B | ||
| Q3 25 | $2.9B | $2.8B | ||
| Q2 25 | $2.7B | $2.7B | ||
| Q1 25 | $2.7B | $2.4B | ||
| Q4 24 | $3.0B | $2.8B | ||
| Q3 24 | $3.0B | $2.2B | ||
| Q2 24 | $2.4B | $2.0B | ||
| Q1 24 | $2.2B | $1.9B |
| Q4 25 | $200.7M | $743.0M | ||
| Q3 25 | $222.3M | $264.0M | ||
| Q2 25 | $183.6M | $906.0M | ||
| Q1 25 | $203.8M | $-682.0M | ||
| Q4 24 | $235.9M | $1.3B | ||
| Q3 24 | $229.6M | $828.0M | ||
| Q2 24 | $175.5M | $171.0M | ||
| Q1 24 | $169.2M | $-273.0M |
| Q4 25 | — | 46.1% | ||
| Q3 25 | — | 48.9% | ||
| Q2 25 | — | 48.6% | ||
| Q1 25 | — | 49.5% | ||
| Q4 24 | — | 48.1% | ||
| Q3 24 | — | 51.7% | ||
| Q2 24 | — | 51.1% | ||
| Q1 24 | — | 51.4% |
| Q4 25 | 8.8% | 17.2% | ||
| Q3 25 | 10.0% | 12.1% | ||
| Q2 25 | 9.3% | 10.9% | ||
| Q1 25 | 10.0% | 8.6% | ||
| Q4 24 | 10.2% | 16.5% | ||
| Q3 24 | 10.1% | 13.1% | ||
| Q2 24 | 9.2% | 11.8% | ||
| Q1 24 | 9.7% | 4.6% |
| Q4 25 | 7.0% | 20.2% | ||
| Q3 25 | 7.7% | 9.3% | ||
| Q2 25 | 6.9% | 33.8% | ||
| Q1 25 | 7.6% | -28.9% | ||
| Q4 24 | 8.0% | 46.0% | ||
| Q3 24 | 7.7% | 38.3% | ||
| Q2 24 | 7.2% | 8.4% | ||
| Q1 24 | 7.7% | -14.7% |
| Q4 25 | $1.50 | $0.58 | ||
| Q3 25 | $1.64 | $0.20 | ||
| Q2 25 | $1.34 | $0.69 | ||
| Q1 25 | $1.47 | $-0.53 | ||
| Q4 24 | $1.68 | $0.99 | ||
| Q3 24 | $1.63 | $0.64 | ||
| Q2 24 | $1.24 | $0.13 | ||
| Q1 24 | $1.17 | $-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 | $1.3B | $5.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.4B | $13.5B |
| Total Assets | $4.9B | $15.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $5.8B | ||
| Q3 25 | $1.2B | $6.3B | ||
| Q2 25 | $1.2B | $5.8B | ||
| Q1 25 | $1.3B | $5.5B | ||
| Q4 24 | $1.1B | $5.5B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $2.4B | $13.5B | ||
| Q3 25 | $2.3B | $12.5B | ||
| Q2 25 | $2.2B | $12.1B | ||
| Q1 25 | $2.3B | $11.1B | ||
| Q4 24 | $2.2B | $11.6B | ||
| Q3 24 | $2.4B | $10.1B | ||
| Q2 24 | $2.2B | $9.2B | ||
| Q1 24 | $2.2B | $8.9B |
| Q4 25 | $4.9B | $15.2B | ||
| Q3 25 | $4.8B | $15.0B | ||
| Q2 25 | $4.8B | $14.6B | ||
| Q1 25 | $4.8B | $13.4B | ||
| Q4 24 | $4.8B | $13.9B | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $4.8B | — | ||
| Q1 24 | $4.5B | — |
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 | $283.3M | $725.0M |
| Free Cash FlowOCF − Capex | $270.3M | $715.0M |
| FCF MarginFCF / Revenue | 9.5% | 19.5% |
| Capex IntensityCapex / Revenue | 0.5% | 0.3% |
| Cash ConversionOCF / Net Profit | 1.41× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $953.4M | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $283.3M | $725.0M | ||
| Q3 25 | $201.4M | $513.0M | ||
| Q2 25 | $179.2M | $428.0M | ||
| Q1 25 | $342.6M | $367.0M | ||
| Q4 24 | $249.7M | $615.0M | ||
| Q3 24 | $90.0M | $423.0M | ||
| Q2 24 | $126.8M | $340.0M | ||
| Q1 24 | $256.9M | $238.0M |
| Q4 25 | $270.3M | $715.0M | ||
| Q3 25 | $190.3M | $507.0M | ||
| Q2 25 | $163.3M | $422.0M | ||
| Q1 25 | $329.5M | $363.0M | ||
| Q4 24 | $239.7M | $611.0M | ||
| Q3 24 | $77.7M | $421.0M | ||
| Q2 24 | $118.8M | $333.0M | ||
| Q1 24 | $246.7M | $232.0M |
| Q4 25 | 9.5% | 19.5% | ||
| Q3 25 | 6.6% | 17.8% | ||
| Q2 25 | 6.2% | 15.7% | ||
| Q1 25 | 12.4% | 15.4% | ||
| Q4 24 | 8.1% | 21.7% | ||
| Q3 24 | 2.6% | 19.5% | ||
| Q2 24 | 4.9% | 16.3% | ||
| Q1 24 | 11.2% | 12.5% |
| Q4 25 | 0.5% | 0.3% | ||
| Q3 25 | 0.4% | 0.2% | ||
| Q2 25 | 0.6% | 0.2% | ||
| Q1 25 | 0.5% | 0.2% | ||
| Q4 24 | 0.3% | 0.1% | ||
| Q3 24 | 0.4% | 0.1% | ||
| Q2 24 | 0.3% | 0.3% | ||
| Q1 24 | 0.5% | 0.3% |
| Q4 25 | 1.41× | 0.98× | ||
| Q3 25 | 0.91× | 1.94× | ||
| Q2 25 | 0.98× | 0.47× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.06× | 0.48× | ||
| Q3 24 | 0.39× | 0.51× | ||
| Q2 24 | 0.72× | 1.99× | ||
| Q1 24 | 1.52× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
