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Side-by-side financial comparison of Primoris Services Corp (PRIM) 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 $1.9B, roughly 2.0× Primoris Services Corp). SHOPIFY INC. runs the higher net margin — 20.2% vs 2.8%, a 17.4% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 6.7%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $121.1M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 14.7%).
Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. As of 2014 it was a Fortune 1000 company.
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.
PRIM vs SHOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $3.7B |
| Net Profit | $51.7M | $743.0M |
| Gross Margin | 9.4% | 46.1% |
| Operating Margin | 4.2% | 17.2% |
| Net Margin | 2.8% | 20.2% |
| Revenue YoY | 6.7% | 30.6% |
| Net Profit YoY | -4.2% | -42.5% |
| EPS (diluted) | $0.94 | $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 | $1.9B | $3.7B | ||
| Q3 25 | $2.2B | $2.8B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.6B | $2.4B | ||
| Q4 24 | $1.7B | $2.8B | ||
| Q3 24 | $1.6B | $2.2B | ||
| Q2 24 | $1.6B | $2.0B | ||
| Q1 24 | $1.4B | $1.9B |
| Q4 25 | $51.7M | $743.0M | ||
| Q3 25 | $94.6M | $264.0M | ||
| Q2 25 | $84.3M | $906.0M | ||
| Q1 25 | $44.2M | $-682.0M | ||
| Q4 24 | $54.0M | $1.3B | ||
| Q3 24 | $58.4M | $828.0M | ||
| Q2 24 | $49.5M | $171.0M | ||
| Q1 24 | $18.9M | $-273.0M |
| Q4 25 | 9.4% | 46.1% | ||
| Q3 25 | 10.8% | 48.9% | ||
| Q2 25 | 12.3% | 48.6% | ||
| Q1 25 | 10.4% | 49.5% | ||
| Q4 24 | 10.6% | 48.1% | ||
| Q3 24 | 12.0% | 51.7% | ||
| Q2 24 | 11.9% | 51.1% | ||
| Q1 24 | 9.4% | 51.4% |
| Q4 25 | 4.2% | 17.2% | ||
| Q3 25 | 6.3% | 12.1% | ||
| Q2 25 | 6.7% | 10.9% | ||
| Q1 25 | 4.3% | 8.6% | ||
| Q4 24 | 5.0% | 16.5% | ||
| Q3 24 | 6.0% | 13.1% | ||
| Q2 24 | 5.5% | 11.8% | ||
| Q1 24 | 3.1% | 4.6% |
| Q4 25 | 2.8% | 20.2% | ||
| Q3 25 | 4.3% | 9.3% | ||
| Q2 25 | 4.5% | 33.8% | ||
| Q1 25 | 2.7% | -28.9% | ||
| Q4 24 | 3.1% | 46.0% | ||
| Q3 24 | 3.5% | 38.3% | ||
| Q2 24 | 3.2% | 8.4% | ||
| Q1 24 | 1.3% | -14.7% |
| Q4 25 | $0.94 | $0.58 | ||
| Q3 25 | $1.73 | $0.20 | ||
| Q2 25 | $1.54 | $0.69 | ||
| Q1 25 | $0.81 | $-0.53 | ||
| Q4 24 | $0.98 | $0.99 | ||
| Q3 24 | $1.07 | $0.64 | ||
| Q2 24 | $0.91 | $0.13 | ||
| Q1 24 | $0.35 | $-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 | $535.5M | $5.8B |
| Total DebtLower is stronger | $469.9M | — |
| Stockholders' EquityBook value | $1.7B | $13.5B |
| Total Assets | $4.4B | $15.2B |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $535.5M | $5.8B | ||
| Q3 25 | $431.4M | $6.3B | ||
| Q2 25 | $390.3M | $5.8B | ||
| Q1 25 | $351.6M | $5.5B | ||
| Q4 24 | $455.8M | $5.5B | ||
| Q3 24 | $352.7M | — | ||
| Q2 24 | $207.4M | — | ||
| Q1 24 | $177.6M | — |
| Q4 25 | $469.9M | — | ||
| Q3 25 | $486.0M | — | ||
| Q2 25 | $603.1M | — | ||
| Q1 25 | $612.0M | — | ||
| Q4 24 | $734.8M | — | ||
| Q3 24 | $903.7M | — | ||
| Q2 24 | $933.0M | — | ||
| Q1 24 | $951.7M | — |
| Q4 25 | $1.7B | $13.5B | ||
| Q3 25 | $1.6B | $12.5B | ||
| Q2 25 | $1.5B | $12.1B | ||
| Q1 25 | $1.4B | $11.1B | ||
| Q4 24 | $1.4B | $11.6B | ||
| Q3 24 | $1.4B | $10.1B | ||
| Q2 24 | $1.3B | $9.2B | ||
| Q1 24 | $1.2B | $8.9B |
| Q4 25 | $4.4B | $15.2B | ||
| Q3 25 | $4.6B | $15.0B | ||
| Q2 25 | $4.5B | $14.6B | ||
| Q1 25 | $4.2B | $13.4B | ||
| Q4 24 | $4.2B | $13.9B | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $4.0B | — |
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | 0.42× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.72× | — | ||
| Q1 24 | 0.76× | — |
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 | $142.9M | $725.0M |
| Free Cash FlowOCF − Capex | $121.1M | $715.0M |
| FCF MarginFCF / Revenue | 6.5% | 19.5% |
| Capex IntensityCapex / Revenue | 1.2% | 0.3% |
| Cash ConversionOCF / Net Profit | 2.76× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $340.5M | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.9M | $725.0M | ||
| Q3 25 | $182.9M | $513.0M | ||
| Q2 25 | $78.5M | $428.0M | ||
| Q1 25 | $66.2M | $367.0M | ||
| Q4 24 | $298.3M | $615.0M | ||
| Q3 24 | $222.5M | $423.0M | ||
| Q2 24 | $16.1M | $340.0M | ||
| Q1 24 | $-28.5M | $238.0M |
| Q4 25 | $121.1M | $715.0M | ||
| Q3 25 | $148.4M | $507.0M | ||
| Q2 25 | $45.3M | $422.0M | ||
| Q1 25 | $25.6M | $363.0M | ||
| Q4 24 | $270.0M | $611.0M | ||
| Q3 24 | $158.8M | $421.0M | ||
| Q2 24 | $-8.1M | $333.0M | ||
| Q1 24 | $-38.9M | $232.0M |
| Q4 25 | 6.5% | 19.5% | ||
| Q3 25 | 6.8% | 17.8% | ||
| Q2 25 | 2.4% | 15.7% | ||
| Q1 25 | 1.6% | 15.4% | ||
| Q4 24 | 15.5% | 21.7% | ||
| Q3 24 | 9.6% | 19.5% | ||
| Q2 24 | -0.5% | 16.3% | ||
| Q1 24 | -2.8% | 12.5% |
| Q4 25 | 1.2% | 0.3% | ||
| Q3 25 | 1.6% | 0.2% | ||
| Q2 25 | 1.8% | 0.2% | ||
| Q1 25 | 2.5% | 0.2% | ||
| Q4 24 | 1.6% | 0.1% | ||
| Q3 24 | 3.9% | 0.1% | ||
| Q2 24 | 1.5% | 0.3% | ||
| Q1 24 | 0.7% | 0.3% |
| Q4 25 | 2.76× | 0.98× | ||
| Q3 25 | 1.93× | 1.94× | ||
| Q2 25 | 0.93× | 0.47× | ||
| Q1 25 | 1.50× | — | ||
| Q4 24 | 5.53× | 0.48× | ||
| Q3 24 | 3.81× | 0.51× | ||
| Q2 24 | 0.32× | 1.99× | ||
| Q1 24 | -1.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
