vs
Side-by-side financial comparison of PulteGroup (PHM) 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 $3.4B, roughly 1.1× PulteGroup). SHOPIFY INC. runs the higher net margin — 20.2% vs 10.2%, a 10.1% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs -12.4%). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs -13.9%).
PulteGroup, Inc. is an American residential home-construction company based in Atlanta, Georgia, United States. As of 2023, the company is the third-largest home-construction company in the United States based on the number of homes closed. In total, the company has built over 775,000 homes.
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.
PHM vs SHOP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.4B | $3.7B |
| Net Profit | $347.0M | $743.0M |
| Gross Margin | — | 46.1% |
| Operating Margin | — | 17.2% |
| Net Margin | 10.2% | 20.2% |
| Revenue YoY | -12.4% | 30.6% |
| Net Profit YoY | — | -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 | $3.4B | — | ||
| Q4 25 | $4.6B | $3.7B | ||
| Q3 25 | $4.4B | $2.8B | ||
| Q2 25 | $4.4B | $2.7B | ||
| Q1 25 | $3.9B | $2.4B | ||
| Q4 24 | $4.9B | $2.8B | ||
| Q3 24 | $4.5B | $2.2B | ||
| Q2 24 | $4.6B | $2.0B |
| Q1 26 | $347.0M | — | ||
| Q4 25 | $501.6M | $743.0M | ||
| Q3 25 | $585.8M | $264.0M | ||
| Q2 25 | $608.5M | $906.0M | ||
| Q1 25 | $522.8M | $-682.0M | ||
| Q4 24 | $913.2M | $1.3B | ||
| Q3 24 | $697.9M | $828.0M | ||
| Q2 24 | $809.1M | $171.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.1% | ||
| Q3 25 | 27.8% | 48.9% | ||
| Q2 25 | 28.6% | 48.6% | ||
| Q1 25 | 28.8% | 49.5% | ||
| Q4 24 | — | 48.1% | ||
| Q3 24 | 30.4% | 51.7% | ||
| Q2 24 | 31.4% | 51.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 17.2% | ||
| Q3 25 | — | 12.1% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | — | 8.6% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 11.8% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | 10.9% | 20.2% | ||
| Q3 25 | 13.3% | 9.3% | ||
| Q2 25 | 13.8% | 33.8% | ||
| Q1 25 | 13.4% | -28.9% | ||
| Q4 24 | 18.6% | 46.0% | ||
| Q3 24 | 15.6% | 38.3% | ||
| Q2 24 | 17.6% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | $2.56 | $0.58 | ||
| Q3 25 | $2.96 | $0.20 | ||
| Q2 25 | $3.03 | $0.69 | ||
| Q1 25 | $2.57 | $-0.53 | ||
| Q4 24 | $4.41 | $0.99 | ||
| Q3 24 | $3.35 | $0.64 | ||
| Q2 24 | $3.83 | $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 | $1.8B | $5.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $13.0B | $13.5B |
| Total Assets | $5.2B | $15.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $2.0B | $5.8B | ||
| Q3 25 | $1.5B | $6.3B | ||
| Q2 25 | $1.2B | $5.8B | ||
| Q1 25 | $1.2B | $5.5B | ||
| Q4 24 | $1.6B | $5.5B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — |
| Q1 26 | — | — | ||
| Q4 25 | $43.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $31.1M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $13.0B | — | ||
| Q4 25 | $13.0B | $13.5B | ||
| Q3 25 | $12.8B | $12.5B | ||
| Q2 25 | $12.6B | $12.1B | ||
| Q1 25 | $12.3B | $11.1B | ||
| Q4 24 | $12.1B | $11.6B | ||
| Q3 24 | $11.6B | $10.1B | ||
| Q2 24 | $11.2B | $9.2B |
| Q1 26 | $5.2B | — | ||
| Q4 25 | $18.0B | $15.2B | ||
| Q3 25 | $17.9B | $15.0B | ||
| Q2 25 | $17.6B | $14.6B | ||
| Q1 25 | $17.3B | $13.4B | ||
| Q4 24 | $17.4B | $13.9B | ||
| Q3 24 | $17.0B | — | ||
| Q2 24 | $16.5B | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $159.8M | $725.0M |
| Free Cash FlowOCF − Capex | — | $715.0M |
| FCF MarginFCF / Revenue | — | 19.5% |
| Capex IntensityCapex / Revenue | 0.7% | 0.3% |
| Cash ConversionOCF / Net Profit | 0.46× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $159.8M | — | ||
| Q4 25 | $771.1M | $725.0M | ||
| Q3 25 | $678.4M | $513.0M | ||
| Q2 25 | $287.5M | $428.0M | ||
| Q1 25 | $134.2M | $367.0M | ||
| Q4 24 | $567.6M | $615.0M | ||
| Q3 24 | $455.9M | $423.0M | ||
| Q2 24 | $417.5M | $340.0M |
| Q1 26 | — | — | ||
| Q4 25 | $739.8M | $715.0M | ||
| Q3 25 | $651.1M | $507.0M | ||
| Q2 25 | $253.0M | $422.0M | ||
| Q1 25 | $104.6M | $363.0M | ||
| Q4 24 | $543.1M | $611.0M | ||
| Q3 24 | $417.2M | $421.0M | ||
| Q2 24 | $386.2M | $333.0M |
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | 19.5% | ||
| Q3 25 | 14.8% | 17.8% | ||
| Q2 25 | 5.7% | 15.7% | ||
| Q1 25 | 2.7% | 15.4% | ||
| Q4 24 | 11.0% | 21.7% | ||
| Q3 24 | 9.3% | 19.5% | ||
| Q2 24 | 8.4% | 16.3% |
| Q1 26 | 0.7% | — | ||
| Q4 25 | 0.7% | 0.3% | ||
| Q3 25 | 0.6% | 0.2% | ||
| Q2 25 | 0.8% | 0.2% | ||
| Q1 25 | 0.8% | 0.2% | ||
| Q4 24 | 0.5% | 0.1% | ||
| Q3 24 | 0.9% | 0.1% | ||
| Q2 24 | 0.7% | 0.3% |
| Q1 26 | 0.46× | — | ||
| Q4 25 | 1.54× | 0.98× | ||
| Q3 25 | 1.16× | 1.94× | ||
| Q2 25 | 0.47× | 0.47× | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.62× | 0.48× | ||
| Q3 24 | 0.65× | 0.51× | ||
| Q2 24 | 0.52× | 1.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PHM
| Home sale revenues | $3.3B | 97% |
| Financial Services | $71.7M | 2% |
| Land sale and other revenues | $29.3M | 1% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
