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Side-by-side financial comparison of SHOPIFY INC. (SHOP) and UGI CORP (UGI). Click either name above to swap in a different company.
SHOPIFY INC. is the larger business by last-quarter revenue ($3.7B vs $2.1B, roughly 1.8× UGI CORP). SHOPIFY INC. runs the higher net margin — 20.2% vs 14.4%, a 5.9% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 3.9%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $-155.0M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs -7.5%).
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.
UGI Corporation is a natural gas and electric power distribution company headquartered in King of Prussia, Pennsylvania, with extensive operations in the United States and Europe.
SHOP vs UGI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.7B | $2.1B |
| Net Profit | $743.0M | $297.0M |
| Gross Margin | 46.1% | — |
| Operating Margin | 17.2% | 22.0% |
| Net Margin | 20.2% | 14.4% |
| Revenue YoY | 30.6% | 3.9% |
| Net Profit YoY | -42.5% | -20.8% |
| EPS (diluted) | $0.58 | $1.34 |
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 | $2.1B | ||
| Q3 25 | $2.8B | $1.2B | ||
| Q2 25 | $2.7B | $1.4B | ||
| Q1 25 | $2.4B | $2.6B | ||
| Q4 24 | $2.8B | $2.0B | ||
| Q3 24 | $2.2B | $1.2B | ||
| Q2 24 | $2.0B | $1.4B | ||
| Q1 24 | $1.9B | $2.4B |
| Q4 25 | $743.0M | $297.0M | ||
| Q3 25 | $264.0M | $-13.0M | ||
| Q2 25 | $906.0M | $-163.0M | ||
| Q1 25 | $-682.0M | $479.0M | ||
| Q4 24 | $1.3B | $375.0M | ||
| Q3 24 | $828.0M | $-273.0M | ||
| Q2 24 | $171.0M | $-48.0M | ||
| Q1 24 | $-273.0M | $496.0M |
| 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 24 | 51.4% | — |
| Q4 25 | 17.2% | 22.0% | ||
| Q3 25 | 12.1% | 1.1% | ||
| Q2 25 | 10.9% | -6.8% | ||
| Q1 25 | 8.6% | 26.6% | ||
| Q4 24 | 16.5% | 24.5% | ||
| Q3 24 | 13.1% | -20.4% | ||
| Q2 24 | 11.8% | 5.0% | ||
| Q1 24 | 4.6% | 29.7% |
| Q4 25 | 20.2% | 14.4% | ||
| Q3 25 | 9.3% | -1.1% | ||
| Q2 25 | 33.8% | -12.0% | ||
| Q1 25 | -28.9% | 18.2% | ||
| Q4 24 | 46.0% | 18.9% | ||
| Q3 24 | 38.3% | -22.6% | ||
| Q2 24 | 8.4% | -3.6% | ||
| Q1 24 | -14.7% | 20.6% |
| Q4 25 | $0.58 | $1.34 | ||
| Q3 25 | $0.20 | $-0.08 | ||
| Q2 25 | $0.69 | $-0.76 | ||
| Q1 25 | $-0.53 | $2.19 | ||
| Q4 24 | $0.99 | $1.74 | ||
| Q3 24 | $0.64 | $-1.26 | ||
| Q2 24 | $0.13 | $-0.23 | ||
| Q1 24 | $-0.21 | $2.30 |
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 | $251.0M |
| Total DebtLower is stronger | — | $6.0B |
| Stockholders' EquityBook value | $13.5B | $5.0B |
| Total Assets | $15.2B | $15.8B |
| Debt / EquityLower = less leverage | — | 1.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8B | $251.0M | ||
| Q3 25 | $6.3B | $335.0M | ||
| Q2 25 | $5.8B | $350.0M | ||
| Q1 25 | $5.5B | $426.0M | ||
| Q4 24 | $5.5B | $240.0M | ||
| Q3 24 | — | $213.0M | ||
| Q2 24 | — | $183.0M | ||
| Q1 24 | — | $263.0M |
| Q4 25 | — | $6.0B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $6.6B | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.3B | ||
| Q1 24 | — | $6.7B |
| Q4 25 | $13.5B | $5.0B | ||
| Q3 25 | $12.5B | $4.8B | ||
| Q2 25 | $12.1B | $4.9B | ||
| Q1 25 | $11.1B | $5.0B | ||
| Q4 24 | $11.6B | $4.6B | ||
| Q3 24 | $10.1B | $4.3B | ||
| Q2 24 | $9.2B | $4.7B | ||
| Q1 24 | $8.9B | $4.8B |
| Q4 25 | $15.2B | $15.8B | ||
| Q3 25 | $15.0B | $15.5B | ||
| Q2 25 | $14.6B | $15.4B | ||
| Q1 25 | $13.4B | $15.7B | ||
| Q4 24 | $13.9B | $15.4B | ||
| Q3 24 | — | $15.1B | ||
| Q2 24 | — | $15.1B | ||
| Q1 24 | — | $15.6B |
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.40× |
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 | $66.0M |
| Free Cash FlowOCF − Capex | $715.0M | $-155.0M |
| FCF MarginFCF / Revenue | 19.5% | -7.5% |
| Capex IntensityCapex / Revenue | 0.3% | 10.7% |
| Cash ConversionOCF / Net Profit | 0.98× | 0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $2.0B | $282.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $725.0M | $66.0M | ||
| Q3 25 | $513.0M | $90.0M | ||
| Q2 25 | $428.0M | $289.0M | ||
| Q1 25 | $367.0M | $684.0M | ||
| Q4 24 | $615.0M | $164.0M | ||
| Q3 24 | $423.0M | $151.0M | ||
| Q2 24 | $340.0M | $390.0M | ||
| Q1 24 | $238.0M | $522.0M |
| Q4 25 | $715.0M | $-155.0M | ||
| Q3 25 | $507.0M | $-168.0M | ||
| Q2 25 | $422.0M | $67.0M | ||
| Q1 25 | $363.0M | $538.0M | ||
| Q4 24 | $611.0M | $-47.0M | ||
| Q3 24 | $421.0M | $-115.0M | ||
| Q2 24 | $333.0M | $185.0M | ||
| Q1 24 | $232.0M | $353.0M |
| Q4 25 | 19.5% | -7.5% | ||
| Q3 25 | 17.8% | -14.4% | ||
| Q2 25 | 15.7% | 4.9% | ||
| Q1 25 | 15.4% | 20.4% | ||
| Q4 24 | 21.7% | -2.4% | ||
| Q3 24 | 19.5% | -9.5% | ||
| Q2 24 | 16.3% | 13.7% | ||
| Q1 24 | 12.5% | 14.6% |
| Q4 25 | 0.3% | 10.7% | ||
| Q3 25 | 0.2% | 22.1% | ||
| Q2 25 | 0.2% | 16.3% | ||
| Q1 25 | 0.2% | 5.5% | ||
| Q4 24 | 0.1% | 10.6% | ||
| Q3 24 | 0.1% | 22.0% | ||
| Q2 24 | 0.3% | 15.2% | ||
| Q1 24 | 0.3% | 7.0% |
| Q4 25 | 0.98× | 0.22× | ||
| Q3 25 | 1.94× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | — | 1.43× | ||
| Q4 24 | 0.48× | 0.44× | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 1.99× | — | ||
| Q1 24 | — | 1.05× |
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% |
UGI
Segment breakdown not available.
