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Side-by-side financial comparison of OLD REPUBLIC INTERNATIONAL CORP (ORI) 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 $2.4B, roughly 1.5× OLD REPUBLIC INTERNATIONAL CORP). SHOPIFY INC. runs the higher net margin — 20.2% vs 13.8%, a 6.5% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 6.7%). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 13.2%).
Old Republic International Corporation is an American property insurance and title insurance company. The company is headquartered in Chicago, Illinois.
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.
ORI vs SHOP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.4B | $3.7B |
| Net Profit | $330.0M | $743.0M |
| Gross Margin | — | 46.1% |
| Operating Margin | — | 17.2% |
| Net Margin | 13.8% | 20.2% |
| Revenue YoY | 6.7% | 30.6% |
| Net Profit YoY | 34.7% | -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.
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $3.7B | ||
| Q3 25 | $2.4B | $2.8B | ||
| Q2 25 | $2.2B | $2.7B | ||
| Q1 25 | $2.1B | $2.4B | ||
| Q4 24 | $2.0B | $2.8B | ||
| Q3 24 | $2.3B | $2.2B | ||
| Q2 24 | $1.9B | $2.0B |
| Q1 26 | $330.0M | — | ||
| Q4 25 | $206.5M | $743.0M | ||
| Q3 25 | $279.5M | $264.0M | ||
| Q2 25 | $204.4M | $906.0M | ||
| Q1 25 | $245.0M | $-682.0M | ||
| Q4 24 | $105.3M | $1.3B | ||
| Q3 24 | $338.9M | $828.0M | ||
| Q2 24 | $91.8M | $171.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | 17.2% | ||
| Q3 25 | 14.6% | 12.1% | ||
| Q2 25 | 11.8% | 10.9% | ||
| Q1 25 | 14.6% | 8.6% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | 18.2% | 13.1% | ||
| Q2 24 | 6.1% | 11.8% |
| Q1 26 | 13.8% | — | ||
| Q4 25 | 8.6% | 20.2% | ||
| Q3 25 | 11.5% | 9.3% | ||
| Q2 25 | 9.3% | 33.8% | ||
| Q1 25 | 11.6% | -28.9% | ||
| Q4 24 | 5.3% | 46.0% | ||
| Q3 24 | 14.5% | 38.3% | ||
| Q2 24 | 4.9% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.82 | $0.58 | ||
| Q3 25 | $1.11 | $0.20 | ||
| Q2 25 | $0.81 | $0.69 | ||
| Q1 25 | $0.98 | $-0.53 | ||
| Q4 24 | $0.42 | $0.99 | ||
| Q3 24 | $1.32 | $0.64 | ||
| Q2 24 | $0.35 | $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 | — | — |
| Stockholders' EquityBook value | $5.9M | $13.5B |
| Total Assets | $29.6M | $15.2B |
| Debt / EquityLower = less leverage | — | — |
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 | $5.9M | — | ||
| Q4 25 | $5.9B | $13.5B | ||
| Q3 25 | $6.4B | $12.5B | ||
| Q2 25 | $6.2B | $12.1B | ||
| Q1 25 | $5.9B | $11.1B | ||
| Q4 24 | $5.6B | $11.6B | ||
| Q3 24 | $6.4B | $10.1B | ||
| Q2 24 | $6.0B | $9.2B |
| Q1 26 | $29.6M | — | ||
| Q4 25 | $29.9B | $15.2B | ||
| Q3 25 | $30.3B | $15.0B | ||
| Q2 25 | $29.3B | $14.6B | ||
| Q1 25 | $28.0B | $13.4B | ||
| Q4 24 | $27.8B | $13.9B | ||
| Q3 24 | $28.8B | — | ||
| Q2 24 | $27.5B | — |
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 | — | $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 | $234.9M | $725.0M | ||
| Q3 25 | $563.9M | $513.0M | ||
| Q2 25 | $133.8M | $428.0M | ||
| Q1 25 | $231.7M | $367.0M | ||
| Q4 24 | $361.7M | $615.0M | ||
| Q3 24 | $474.8M | $423.0M | ||
| Q2 24 | $236.5M | $340.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $715.0M | ||
| Q3 25 | — | $507.0M | ||
| Q2 25 | — | $422.0M | ||
| Q1 25 | — | $363.0M | ||
| Q4 24 | — | $611.0M | ||
| Q3 24 | — | $421.0M | ||
| Q2 24 | — | $333.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.5% | ||
| Q3 25 | — | 17.8% | ||
| Q2 25 | — | 15.7% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | — | 19.5% | ||
| Q2 24 | — | 16.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.14× | 0.98× | ||
| Q3 25 | 2.02× | 1.94× | ||
| Q2 25 | 0.65× | 0.47× | ||
| Q1 25 | 0.95× | — | ||
| Q4 24 | 3.43× | 0.48× | ||
| Q3 24 | 1.40× | 0.51× | ||
| Q2 24 | 2.58× | 1.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ORI
| operating | $2.2B | 92% |
| Other | $201.8M | 8% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
