GoDaddy vs Shopify
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The short version
- Shopify is the larger business, with $11.6B of revenue in fiscal 2025 against $5.0B for GoDaddy, about 2.3 times as much.
- Shopify grew revenue faster (30.1%, against 8.3%).
- GoDaddy kept more of each dollar of sales as operating profit (22.8% operating margin, against 12.7%).
- GoDaddy turned more of its sales into free cash flow (31.8% FCF margin, against 17.4%).
- GoDaddy earned a higher return on the capital invested in it (30.6%, against 16.3%).
- Investors pay more for each dollar of Shopify’s earnings: a P/E of 114.0x against 16.8x for GoDaddy.
| Latest fiscal year | GDDY · FY25 | SHOP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.8B | $218.9B |
| Revenue | $5.0B | $11.6B |
| Free cash flow | $1.6B | $2.0B |
| Net income | $875M | $1.2B |
| Growth | ||
| Revenue growth | 8.3% | 30.1% |
| 5-year growth | 8.3% | 31.6% |
| Share count change | −3.2% | 0.3% |
| Profitability | ||
| Gross margin | — | 48.1% |
| Operating margin | 22.8% | 12.7% |
| Net margin | 17.7% | 10.7% |
| FCF margin | 31.8% | 17.4% |
| Return on capital | 30.6% | 16.3% |
| Return on equity | 192.9% | 9.8% |
| Balance sheet | ||
| Net debt | $2.7B | −$5.8B |
| Net debt / EBITDA | 2.2x | −3.9x |
| Dividends and buybacks | $1.6B | $0.0M |
| Valuation & quality | ||
| P/E | 16.8x | 114.0x |
| Piotroski F-score | 5 | 6 |
Revenue
FY16
GDDY $1.8B
SHOP —
FY17
GDDY $2.2B
SHOP $673M
FY18
GDDY $2.7B
SHOP $1.1B
FY19
GDDY $3.0B
SHOP $1.6B
FY20
GDDY $3.3B
SHOP $2.9B
FY21
GDDY $3.8B
SHOP $4.6B
FY22
GDDY $4.1B
SHOP $5.6B
FY23
GDDY $4.3B
SHOP $7.1B
FY24
GDDY $4.6B
SHOP $8.9B
FY25
GDDY $5.0B
SHOP $11.6B
GDDY
SHOP
Operating margin
FY16
GDDY 2.7%
SHOP —
FY17
GDDY 3.0%
SHOP −7.3%
FY18
GDDY 5.6%
SHOP −8.6%
FY19
GDDY 6.8%
SHOP −8.9%
FY20
GDDY 8.2%
SHOP 3.1%
FY21
GDDY 10.0%
SHOP 5.8%
FY22
GDDY 12.2%
SHOP −14.7%
FY23
GDDY 12.9%
SHOP −20.1%
FY24
GDDY 19.5%
SHOP 12.1%
FY25
GDDY 22.8%
SHOP 12.7%
GDDY
SHOP
Free cash flow
FY16
GDDY $325M
SHOP −$9.8M
FY17
GDDY $392M
SHOP −$12.1M
FY18
GDDY $472M
SHOP −$18.6M
FY19
GDDY $636M
SHOP $13.9M
FY20
GDDY $698M
SHOP $383M
FY21
GDDY $778M
SHOP $485M
FY22
GDDY $920M
SHOP −$186M
FY23
GDDY $1.0B
SHOP $905M
FY24
GDDY $1.3B
SHOP $1.6B
FY25
GDDY $1.6B
SHOP $2.0B
GDDY
SHOP
Return on capital
FY16
GDDY 3.1%
SHOP —
FY17
GDDY 3.8%
SHOP —
FY18
GDDY 6.4%
SHOP —
FY19
GDDY 9.3%
SHOP —
FY20
GDDY 9.7%
SHOP 13.5%
FY21
GDDY 14.5%
SHOP 9.9%
FY22
GDDY 18.2%
SHOP −15.5%
FY23
GDDY 17.9%
SHOP −22.3%
FY24
GDDY 26.4%
SHOP 16.3%
FY25
GDDY 30.6%
SHOP 16.3%
GDDY
SHOP
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.