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Side-by-side financial comparison of ManpowerGroup Inc. (MAN) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
ManpowerGroup Inc. is the larger business by last-quarter revenue ($4.7B vs $3.7B, roughly 1.3× SHOPIFY INC.). SHOPIFY INC. runs the higher net margin — 20.2% vs 0.6%, a 19.6% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 7.1%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $168.0M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 3.5%).
ManpowerGroup is an American multinational corporation headquartered in Milwaukee, Wisconsin. Founded in 1948 by Elmer Winter and Aaron Scheinfeld, ManpowerGroup is the third-largest staffing firm in the world behind Swiss firm Adecco and Dutch firm Randstad NV. The company provides administrative & support services, professional services, and business services through its four primary brands: Manpower, Experis, Right Management, and ManpowerGroup Solutions.
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.
MAN vs SHOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $3.7B |
| Net Profit | $30.2M | $743.0M |
| Gross Margin | 16.3% | 46.1% |
| Operating Margin | 1.7% | 17.2% |
| Net Margin | 0.6% | 20.2% |
| Revenue YoY | 7.1% | 30.6% |
| Net Profit YoY | 34.2% | -42.5% |
| EPS (diluted) | $0.65 | $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 | $4.7B | $3.7B | ||
| Q3 25 | $4.6B | $2.8B | ||
| Q2 25 | $4.5B | $2.7B | ||
| Q1 25 | $4.1B | $2.4B | ||
| Q4 24 | $4.4B | $2.8B | ||
| Q3 24 | $4.5B | $2.2B | ||
| Q2 24 | $4.5B | $2.0B | ||
| Q1 24 | $4.4B | $1.9B |
| Q4 25 | $30.2M | $743.0M | ||
| Q3 25 | $18.0M | $264.0M | ||
| Q2 25 | $-67.1M | $906.0M | ||
| Q1 25 | $5.6M | $-682.0M | ||
| Q4 24 | $22.5M | $1.3B | ||
| Q3 24 | $22.8M | $828.0M | ||
| Q2 24 | $60.1M | $171.0M | ||
| Q1 24 | $39.7M | $-273.0M |
| Q4 25 | 16.3% | 46.1% | ||
| Q3 25 | 16.6% | 48.9% | ||
| Q2 25 | 16.9% | 48.6% | ||
| Q1 25 | 17.1% | 49.5% | ||
| Q4 24 | 17.2% | 48.1% | ||
| Q3 24 | 17.3% | 51.7% | ||
| Q2 24 | 17.4% | 51.1% | ||
| Q1 24 | 17.3% | 51.4% |
| Q4 25 | 1.7% | 17.2% | ||
| Q3 25 | 1.4% | 12.1% | ||
| Q2 25 | -0.6% | 10.9% | ||
| Q1 25 | 0.7% | 8.6% | ||
| Q4 24 | 1.6% | 16.5% | ||
| Q3 24 | 1.6% | 13.1% | ||
| Q2 24 | 2.2% | 11.8% | ||
| Q1 24 | 1.5% | 4.6% |
| Q4 25 | 0.6% | 20.2% | ||
| Q3 25 | 0.4% | 9.3% | ||
| Q2 25 | -1.5% | 33.8% | ||
| Q1 25 | 0.1% | -28.9% | ||
| Q4 24 | 0.5% | 46.0% | ||
| Q3 24 | 0.5% | 38.3% | ||
| Q2 24 | 1.3% | 8.4% | ||
| Q1 24 | 0.9% | -14.7% |
| Q4 25 | $0.65 | $0.58 | ||
| Q3 25 | $0.38 | $0.20 | ||
| Q2 25 | $-1.44 | $0.69 | ||
| Q1 25 | $0.12 | $-0.53 | ||
| Q4 24 | $0.49 | $0.99 | ||
| Q3 24 | $0.47 | $0.64 | ||
| Q2 24 | $1.24 | $0.13 | ||
| Q1 24 | $0.81 | $-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 | $871.0M | $5.8B |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $2.1B | $13.5B |
| Total Assets | $9.2B | $15.2B |
| Debt / EquityLower = less leverage | 0.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $871.0M | $5.8B | ||
| Q3 25 | $274.6M | $6.3B | ||
| Q2 25 | $289.8M | $5.8B | ||
| Q1 25 | $395.0M | $5.5B | ||
| Q4 24 | $509.4M | $5.5B | ||
| Q3 24 | $410.9M | — | ||
| Q2 24 | $468.9M | — | ||
| Q1 24 | $604.8M | — |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $468.3M | — | ||
| Q2 25 | $470.3M | — | ||
| Q1 25 | $971.4M | — | ||
| Q4 24 | $929.4M | — | ||
| Q3 24 | $999.7M | — | ||
| Q2 24 | $961.7M | — | ||
| Q1 24 | $968.9M | — |
| Q4 25 | $2.1B | $13.5B | ||
| Q3 25 | $2.0B | $12.5B | ||
| Q2 25 | $2.0B | $12.1B | ||
| Q1 25 | $2.1B | $11.1B | ||
| Q4 24 | $2.1B | $11.6B | ||
| Q3 24 | $2.2B | $10.1B | ||
| Q2 24 | $2.1B | $9.2B | ||
| Q1 24 | $2.2B | $8.9B |
| Q4 25 | $9.2B | $15.2B | ||
| Q3 25 | $8.4B | $15.0B | ||
| Q2 25 | $8.5B | $14.6B | ||
| Q1 25 | $8.0B | $13.4B | ||
| Q4 24 | $8.2B | $13.9B | ||
| Q3 24 | $8.5B | — | ||
| Q2 24 | $8.5B | — | ||
| Q1 24 | $8.5B | — |
| Q4 25 | 0.51× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.46× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.45× | — |
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 | $178.9M | $725.0M |
| Free Cash FlowOCF − Capex | $168.0M | $715.0M |
| FCF MarginFCF / Revenue | 3.6% | 19.5% |
| Capex IntensityCapex / Revenue | 0.2% | 0.3% |
| Cash ConversionOCF / Net Profit | 5.92× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $-161.4M | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $178.9M | $725.0M | ||
| Q3 25 | $59.8M | $513.0M | ||
| Q2 25 | $-189.6M | $428.0M | ||
| Q1 25 | $-153.2M | $367.0M | ||
| Q4 24 | $247.6M | $615.0M | ||
| Q3 24 | $83.5M | $423.0M | ||
| Q2 24 | $-137.9M | $340.0M | ||
| Q1 24 | $116.0M | $238.0M |
| Q4 25 | $168.0M | $715.0M | ||
| Q3 25 | $44.7M | $507.0M | ||
| Q2 25 | $-207.2M | $422.0M | ||
| Q1 25 | $-166.9M | $363.0M | ||
| Q4 24 | $236.3M | $611.0M | ||
| Q3 24 | $67.4M | $421.0M | ||
| Q2 24 | $-149.8M | $333.0M | ||
| Q1 24 | $104.2M | $232.0M |
| Q4 25 | 3.6% | 19.5% | ||
| Q3 25 | 1.0% | 17.8% | ||
| Q2 25 | -4.6% | 15.7% | ||
| Q1 25 | -4.1% | 15.4% | ||
| Q4 24 | 5.4% | 21.7% | ||
| Q3 24 | 1.5% | 19.5% | ||
| Q2 24 | -3.3% | 16.3% | ||
| Q1 24 | 2.4% | 12.5% |
| Q4 25 | 0.2% | 0.3% | ||
| Q3 25 | 0.3% | 0.2% | ||
| Q2 25 | 0.4% | 0.2% | ||
| Q1 25 | 0.3% | 0.2% | ||
| Q4 24 | 0.3% | 0.1% | ||
| Q3 24 | 0.4% | 0.1% | ||
| Q2 24 | 0.3% | 0.3% | ||
| Q1 24 | 0.3% | 0.3% |
| Q4 25 | 5.92× | 0.98× | ||
| Q3 25 | 3.32× | 1.94× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | -27.36× | — | ||
| Q4 24 | 11.00× | 0.48× | ||
| Q3 24 | 3.66× | 0.51× | ||
| Q2 24 | -2.29× | 1.99× | ||
| Q1 24 | 2.92× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAN
| Other | $2.4B | 52% |
| Transferred Over Time | $1.1B | 24% |
| Staffingand Interim | $1.0B | 22% |
| Productsand Services Other | $50.8M | 1% |
| Permanent Recruitment | $37.5M | 1% |
| Outcome Based Solutionsand Consulting | $20.7M | 0% |
| Transferred At Point In Time | $20.4M | 0% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
