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Side-by-side financial comparison of SHOPIFY INC. (SHOP) and TELUS CORP (TU). Click either name above to swap in a different company.
TELUS CORP is the larger business by last-quarter revenue ($3.7B vs $3.7B, roughly 1.0× SHOPIFY INC.). SHOPIFY INC. runs the higher net margin — 20.2% vs -4.8%, a 25.1% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 2.2%).
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.
TELUS CORPTUEarnings & Financial Report
Telus Corporation is a Canadian publicly traded holding company and conglomerate, headquartered in Vancouver, British Columbia, which is the parent company of several subsidiaries: Telus Communications offers telephony, television, data and Internet services; Telus Mobility offers wireless services; Telus Health operates companies that provide health products and services; and Telus Digital operates worldwide, providing multilingual customer service outsourcing and digital IT services. Telus ...
SHOP vs TU — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.7B | $3.7B |
| Net Profit | $743.0M | $-178.8M |
| Gross Margin | 46.1% | 90.2% |
| Operating Margin | 17.2% | 3.4% |
| Net Margin | 20.2% | -4.8% |
| Revenue YoY | 30.6% | 2.2% |
| Net Profit YoY | -42.5% | -210.9% |
| 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.
| Q4 25 | $3.7B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $2.7B | $3.7B | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $2.0B | $3.6B | ||
| Q1 24 | $1.9B | — |
| Q4 25 | $743.0M | — | ||
| Q3 25 | $264.0M | — | ||
| Q2 25 | $906.0M | $-178.8M | ||
| Q1 25 | $-682.0M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $828.0M | — | ||
| Q2 24 | $171.0M | $161.3M | ||
| Q1 24 | $-273.0M | — |
| Q4 25 | 46.1% | — | ||
| Q3 25 | 48.9% | — | ||
| Q2 25 | 48.6% | 90.2% | ||
| Q1 25 | 49.5% | — | ||
| Q4 24 | 48.1% | — | ||
| Q3 24 | 51.7% | — | ||
| Q2 24 | 51.1% | 87.9% | ||
| Q1 24 | 51.4% | — |
| Q4 25 | 17.2% | — | ||
| Q3 25 | 12.1% | — | ||
| Q2 25 | 10.9% | 3.4% | ||
| Q1 25 | 8.6% | — | ||
| Q4 24 | 16.5% | — | ||
| Q3 24 | 13.1% | — | ||
| Q2 24 | 11.8% | 13.7% | ||
| Q1 24 | 4.6% | — |
| Q4 25 | 20.2% | — | ||
| Q3 25 | 9.3% | — | ||
| Q2 25 | 33.8% | -4.8% | ||
| Q1 25 | -28.9% | — | ||
| Q4 24 | 46.0% | — | ||
| Q3 24 | 38.3% | — | ||
| Q2 24 | 8.4% | 4.4% | ||
| Q1 24 | -14.7% | — |
| Q4 25 | $0.58 | — | ||
| Q3 25 | $0.20 | — | ||
| Q2 25 | $0.69 | — | ||
| Q1 25 | $-0.53 | — | ||
| Q4 24 | $0.99 | — | ||
| Q3 24 | $0.64 | — | ||
| Q2 24 | $0.13 | — | ||
| Q1 24 | $-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 | $5.8B | $2.7B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $13.5B | $11.8B |
| Total Assets | $15.2B | $44.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8B | — | ||
| Q3 25 | $6.3B | — | ||
| Q2 25 | $5.8B | $2.7B | ||
| Q1 25 | $5.5B | — | ||
| Q4 24 | $5.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $676.7M | ||
| Q1 24 | — | — |
| Q4 25 | $13.5B | — | ||
| Q3 25 | $12.5B | — | ||
| Q2 25 | $12.1B | $11.8B | ||
| Q1 25 | $11.1B | — | ||
| Q4 24 | $11.6B | — | ||
| Q3 24 | $10.1B | — | ||
| Q2 24 | $9.2B | $12.4B | ||
| Q1 24 | $8.9B | — |
| Q4 25 | $15.2B | — | ||
| Q3 25 | $15.0B | — | ||
| Q2 25 | $14.6B | $44.3B | ||
| Q1 25 | $13.4B | — | ||
| Q4 24 | $13.9B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $41.8B | ||
| Q1 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 | $725.0M | $851.2M |
| 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.
| Q4 25 | $725.0M | — | ||
| Q3 25 | $513.0M | — | ||
| Q2 25 | $428.0M | $851.2M | ||
| Q1 25 | $367.0M | — | ||
| Q4 24 | $615.0M | — | ||
| Q3 24 | $423.0M | — | ||
| Q2 24 | $340.0M | $1.0B | ||
| Q1 24 | $238.0M | — |
| 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 24 | $232.0M | — |
| 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 24 | 12.5% | — |
| 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 24 | 0.3% | — |
| Q4 25 | 0.98× | — | ||
| Q3 25 | 1.94× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.48× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 1.99× | 6.28× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
TU
Segment breakdown not available.
