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Side-by-side financial comparison of SHOPIFY INC. (SHOP) and WESCO INTERNATIONAL INC (WCC). Click either name above to swap in a different company.
WESCO INTERNATIONAL INC is the larger business by last-quarter revenue ($6.1B vs $3.7B, roughly 1.7× SHOPIFY INC.). SHOPIFY INC. runs the higher net margin — 20.2% vs 2.6%, a 17.6% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 10.3%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $27.5M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 6.5%).
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.
Wesco International, Inc. is a publicly traded American holding company for Wesco Distribution, an electrical distribution and services company based in Pittsburgh, Pennsylvania.
SHOP vs WCC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.7B | $6.1B |
| Net Profit | $743.0M | $159.8M |
| Gross Margin | 46.1% | 21.2% |
| Operating Margin | 17.2% | 5.3% |
| Net Margin | 20.2% | 2.6% |
| Revenue YoY | 30.6% | 10.3% |
| Net Profit YoY | -42.5% | -3.4% |
| EPS (diluted) | $0.58 | $3.33 |
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 | $6.1B | ||
| Q3 25 | $2.8B | $6.2B | ||
| Q2 25 | $2.7B | $5.9B | ||
| Q1 25 | $2.4B | $5.3B | ||
| Q4 24 | $2.8B | $5.5B | ||
| Q3 24 | $2.2B | $5.5B | ||
| Q2 24 | $2.0B | $5.5B | ||
| Q1 24 | $1.9B | $5.3B |
| Q4 25 | $743.0M | $159.8M | ||
| Q3 25 | $264.0M | $187.5M | ||
| Q2 25 | $906.0M | $174.5M | ||
| Q1 25 | $-682.0M | $118.4M | ||
| Q4 24 | $1.3B | $165.4M | ||
| Q3 24 | $828.0M | $204.3M | ||
| Q2 24 | $171.0M | $232.1M | ||
| Q1 24 | $-273.0M | $115.8M |
| Q4 25 | 46.1% | 21.2% | ||
| Q3 25 | 48.9% | 21.3% | ||
| Q2 25 | 48.6% | 21.1% | ||
| Q1 25 | 49.5% | 21.1% | ||
| Q4 24 | 48.1% | 21.2% | ||
| Q3 24 | 51.7% | 22.1% | ||
| Q2 24 | 51.1% | 21.9% | ||
| Q1 24 | 51.4% | 21.3% |
| Q4 25 | 17.2% | 5.3% | ||
| Q3 25 | 12.1% | 5.6% | ||
| Q2 25 | 10.9% | 5.5% | ||
| Q1 25 | 8.6% | 4.5% | ||
| Q4 24 | 16.5% | 5.5% | ||
| Q3 24 | 13.1% | 6.1% | ||
| Q2 24 | 11.8% | 5.9% | ||
| Q1 24 | 4.6% | 4.9% |
| Q4 25 | 20.2% | 2.6% | ||
| Q3 25 | 9.3% | 3.0% | ||
| Q2 25 | 33.8% | 3.0% | ||
| Q1 25 | -28.9% | 2.2% | ||
| Q4 24 | 46.0% | 3.0% | ||
| Q3 24 | 38.3% | 3.7% | ||
| Q2 24 | 8.4% | 4.2% | ||
| Q1 24 | -14.7% | 2.2% |
| Q4 25 | $0.58 | $3.33 | ||
| Q3 25 | $0.20 | $3.79 | ||
| Q2 25 | $0.69 | $3.83 | ||
| Q1 25 | $-0.53 | $2.10 | ||
| Q4 24 | $0.99 | $3.01 | ||
| Q3 24 | $0.64 | $3.81 | ||
| Q2 24 | $0.13 | $4.28 | ||
| Q1 24 | $-0.21 | $1.95 |
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 | $13.5B | $5.0B |
| Total Assets | $15.2B | $16.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | — | — |
| Q4 25 | $13.5B | $5.0B | ||
| Q3 25 | $12.5B | $4.8B | ||
| Q2 25 | $12.1B | $4.8B | ||
| Q1 25 | $11.1B | $5.0B | ||
| Q4 24 | $11.6B | $5.0B | ||
| Q3 24 | $10.1B | $5.0B | ||
| Q2 24 | $9.2B | $4.9B | ||
| Q1 24 | $8.9B | $5.0B |
| Q4 25 | $15.2B | $16.5B | ||
| Q3 25 | $15.0B | $16.6B | ||
| Q2 25 | $14.6B | $16.2B | ||
| Q1 25 | $13.4B | $15.5B | ||
| Q4 24 | $13.9B | $15.1B | ||
| Q3 24 | — | $15.3B | ||
| Q2 24 | — | $15.1B | ||
| Q1 24 | — | $15.5B |
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 | $71.9M |
| Free Cash FlowOCF − Capex | $715.0M | $27.5M |
| FCF MarginFCF / Revenue | 19.5% | 0.5% |
| Capex IntensityCapex / Revenue | 0.3% | 0.7% |
| Cash ConversionOCF / Net Profit | 0.98× | 0.45× |
| TTM Free Cash FlowTrailing 4 quarters | $2.0B | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $725.0M | $71.9M | ||
| Q3 25 | $513.0M | $-82.7M | ||
| Q2 25 | $428.0M | $107.8M | ||
| Q1 25 | $367.0M | $28.0M | ||
| Q4 24 | $615.0M | $276.6M | ||
| Q3 24 | $423.0M | $302.1M | ||
| Q2 24 | $340.0M | $-223.8M | ||
| Q1 24 | $238.0M | $746.3M |
| Q4 25 | $715.0M | $27.5M | ||
| Q3 25 | $507.0M | $-95.9M | ||
| Q2 25 | $422.0M | $86.0M | ||
| Q1 25 | $363.0M | $7.6M | ||
| Q4 24 | $611.0M | $252.3M | ||
| Q3 24 | $421.0M | $272.9M | ||
| Q2 24 | $333.0M | $-244.6M | ||
| Q1 24 | $232.0M | $725.9M |
| Q4 25 | 19.5% | 0.5% | ||
| Q3 25 | 17.8% | -1.5% | ||
| Q2 25 | 15.7% | 1.5% | ||
| Q1 25 | 15.4% | 0.1% | ||
| Q4 24 | 21.7% | 4.6% | ||
| Q3 24 | 19.5% | 5.0% | ||
| Q2 24 | 16.3% | -4.5% | ||
| Q1 24 | 12.5% | 13.6% |
| Q4 25 | 0.3% | 0.7% | ||
| Q3 25 | 0.2% | 0.2% | ||
| Q2 25 | 0.2% | 0.4% | ||
| Q1 25 | 0.2% | 0.4% | ||
| Q4 24 | 0.1% | 0.4% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.3% | 0.4% | ||
| Q1 24 | 0.3% | 0.4% |
| Q4 25 | 0.98× | 0.45× | ||
| Q3 25 | 1.94× | -0.44× | ||
| Q2 25 | 0.47× | 0.62× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | 0.48× | 1.67× | ||
| Q3 24 | 0.51× | 1.48× | ||
| Q2 24 | 1.99× | -0.96× | ||
| Q1 24 | — | 6.44× |
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% |
WCC
| CSS | $2.4B | 40% |
| EES | $2.3B | 37% |
| UBS | $1.4B | 23% |
