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Side-by-side financial comparison of FirstEnergy (FE) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
FirstEnergy is the larger business by last-quarter revenue ($3.8B vs $3.7B, roughly 1.0× SHOPIFY INC.). SHOPIFY INC. runs the higher net margin — 20.2% vs -1.3%, a 21.5% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 19.6%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $-30.0M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 7.5%).
FirstEnergy Corp. is an electric utility headquartered in Akron, Ohio. It was established when Ohio Edison merged with Centerior Energy in 1997.
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.
FE vs SHOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $3.7B |
| Net Profit | $-49.0M | $743.0M |
| Gross Margin | — | 46.1% |
| Operating Margin | -0.6% | 17.2% |
| Net Margin | -1.3% | 20.2% |
| Revenue YoY | 19.6% | 30.6% |
| Net Profit YoY | -118.8% | -42.5% |
| EPS (diluted) | $-0.08 | $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 | $3.8B | $3.7B | ||
| Q3 25 | $4.1B | $2.8B | ||
| Q2 25 | $3.4B | $2.7B | ||
| Q1 25 | $3.8B | $2.4B | ||
| Q4 24 | $3.2B | $2.8B | ||
| Q3 24 | $3.7B | $2.2B | ||
| Q2 24 | $3.3B | $2.0B | ||
| Q1 24 | $3.3B | $1.9B |
| Q4 25 | $-49.0M | $743.0M | ||
| Q3 25 | $441.0M | $264.0M | ||
| Q2 25 | $268.0M | $906.0M | ||
| Q1 25 | $360.0M | $-682.0M | ||
| Q4 24 | $261.0M | $1.3B | ||
| Q3 24 | $419.0M | $828.0M | ||
| Q2 24 | $45.0M | $171.0M | ||
| Q1 24 | $253.0M | $-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 | -0.6% | 17.2% | ||
| Q3 25 | 20.0% | 12.1% | ||
| Q2 25 | 19.1% | 10.9% | ||
| Q1 25 | 20.0% | 8.6% | ||
| Q4 24 | 19.3% | 16.5% | ||
| Q3 24 | 19.5% | 13.1% | ||
| Q2 24 | 12.9% | 11.8% | ||
| Q1 24 | 18.6% | 4.6% |
| Q4 25 | -1.3% | 20.2% | ||
| Q3 25 | 10.6% | 9.3% | ||
| Q2 25 | 7.9% | 33.8% | ||
| Q1 25 | 9.6% | -28.9% | ||
| Q4 24 | 8.2% | 46.0% | ||
| Q3 24 | 11.2% | 38.3% | ||
| Q2 24 | 1.4% | 8.4% | ||
| Q1 24 | 7.7% | -14.7% |
| Q4 25 | $-0.08 | $0.58 | ||
| Q3 25 | $0.76 | $0.20 | ||
| Q2 25 | $0.46 | $0.69 | ||
| Q1 25 | $0.62 | $-0.53 | ||
| Q4 24 | $0.45 | $0.99 | ||
| Q3 24 | $0.73 | $0.64 | ||
| Q2 24 | $0.08 | $0.13 | ||
| Q1 24 | $0.44 | $-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 | $57.0M | $5.8B |
| Total DebtLower is stronger | $25.5B | — |
| Stockholders' EquityBook value | $12.5B | $13.5B |
| Total Assets | $55.9B | $15.2B |
| Debt / EquityLower = less leverage | 2.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.0M | $5.8B | ||
| Q3 25 | $1.4B | $6.3B | ||
| Q2 25 | $569.0M | $5.8B | ||
| Q1 25 | $132.0M | $5.5B | ||
| Q4 24 | $111.0M | $5.5B | ||
| Q3 24 | $439.0M | — | ||
| Q2 24 | $60.0M | — | ||
| Q1 24 | $888.0M | — |
| Q4 25 | $25.5B | — | ||
| Q3 25 | $25.5B | — | ||
| Q2 25 | $23.7B | — | ||
| Q1 25 | $21.2B | — | ||
| Q4 24 | $22.5B | — | ||
| Q3 24 | $21.6B | — | ||
| Q2 24 | $20.8B | — | ||
| Q1 24 | $21.7B | — |
| Q4 25 | $12.5B | $13.5B | ||
| Q3 25 | $12.8B | $12.5B | ||
| Q2 25 | $12.9B | $12.1B | ||
| Q1 25 | $12.6B | $11.1B | ||
| Q4 24 | $12.5B | $11.6B | ||
| Q3 24 | $12.4B | $10.1B | ||
| Q2 24 | $12.5B | $9.2B | ||
| Q1 24 | $12.4B | $8.9B |
| Q4 25 | $55.9B | $15.2B | ||
| Q3 25 | $55.9B | $15.0B | ||
| Q2 25 | $54.2B | $14.6B | ||
| Q1 25 | $52.8B | $13.4B | ||
| Q4 24 | $52.0B | $13.9B | ||
| Q3 24 | $50.8B | — | ||
| Q2 24 | $51.0B | — | ||
| Q1 24 | $51.3B | — |
| Q4 25 | 2.04× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.69× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.67× | — | ||
| Q1 24 | 1.75× | — |
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 | $1.1B | $725.0M |
| Free Cash FlowOCF − Capex | $-30.0M | $715.0M |
| FCF MarginFCF / Revenue | -0.8% | 19.5% |
| Capex IntensityCapex / Revenue | 30.7% | 0.3% |
| Cash ConversionOCF / Net Profit | — | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.0B | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $725.0M | ||
| Q3 25 | $845.0M | $513.0M | ||
| Q2 25 | $1.1B | $428.0M | ||
| Q1 25 | $637.0M | $367.0M | ||
| Q4 24 | $1.0B | $615.0M | ||
| Q3 24 | $775.0M | $423.0M | ||
| Q2 24 | $1.1B | $340.0M | ||
| Q1 24 | $-40.0M | $238.0M |
| Q4 25 | $-30.0M | $715.0M | ||
| Q3 25 | $-471.0M | $507.0M | ||
| Q2 25 | $-136.0M | $422.0M | ||
| Q1 25 | $-368.0M | $363.0M | ||
| Q4 24 | $-250.0M | $611.0M | ||
| Q3 24 | $-229.0M | $421.0M | ||
| Q2 24 | $170.0M | $333.0M | ||
| Q1 24 | $-830.0M | $232.0M |
| Q4 25 | -0.8% | 19.5% | ||
| Q3 25 | -11.4% | 17.8% | ||
| Q2 25 | -4.0% | 15.7% | ||
| Q1 25 | -9.8% | 15.4% | ||
| Q4 24 | -7.9% | 21.7% | ||
| Q3 24 | -6.1% | 19.5% | ||
| Q2 24 | 5.2% | 16.3% | ||
| Q1 24 | -25.3% | 12.5% |
| Q4 25 | 30.7% | 0.3% | ||
| Q3 25 | 31.7% | 0.2% | ||
| Q2 25 | 36.0% | 0.2% | ||
| Q1 25 | 26.7% | 0.2% | ||
| Q4 24 | 40.7% | 0.1% | ||
| Q3 24 | 26.9% | 0.1% | ||
| Q2 24 | 28.7% | 0.3% | ||
| Q1 24 | 24.0% | 0.3% |
| Q4 25 | — | 0.98× | ||
| Q3 25 | 1.92× | 1.94× | ||
| Q2 25 | 4.04× | 0.47× | ||
| Q1 25 | 1.77× | — | ||
| Q4 24 | 4.00× | 0.48× | ||
| Q3 24 | 1.85× | 0.51× | ||
| Q2 24 | 24.71× | 1.99× | ||
| Q1 24 | -0.16× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
