Shopify vs Wix.com
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The short version
- Shopify is the larger business, with $11.6B of revenue in fiscal 2025 against $2.0B for Wix.com, about 5.8 times as much.
- Shopify grew revenue faster (30.1%, against 13.2%).
- Shopify kept more of each dollar of sales as operating profit (12.7% operating margin, against 0.1%).
- Wix.com turned more of its sales into free cash flow (29.2% FCF margin, against 17.4%).
| Latest fiscal year | SHOP Β· FY25 | WIX Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $218.9B | $4.7B |
| Revenue | $11.6B | $2.0B |
| Free cash flow | $2.0B | $582M |
| Net income | $1.2B | $50.6M |
| Growth | ||
| Revenue growth | 30.1% | 13.2% |
| 5-year growth | 31.6% | 15.2% |
| Share count change | 0.3% | β3.7% |
| Profitability | ||
| Gross margin | 48.1% | 68.1% |
| Operating margin | 12.7% | 0.1% |
| Net margin | 10.7% | 2.5% |
| FCF margin | 17.4% | 29.2% |
| Return on capital | 16.3% | β |
| Return on equity | 9.8% | β |
| Balance sheet | ||
| Net debt | β$5.8B | $331M |
| Net debt / EBITDA | β3.9x | 10.0x |
| Dividends and buybacks | $0.0M | $575M |
| Valuation & quality | ||
| P/E | 114.0x | β |
| Piotroski F-score | 6 | 7 |
Revenue
FY16
SHOP β
WIX $290M
FY17
SHOP $673M
WIX $426M
FY18
SHOP $1.1B
WIX $604M
FY19
SHOP $1.6B
WIX $758M
FY20
SHOP $2.9B
WIX $984M
FY21
SHOP $4.6B
WIX $1.3B
FY22
SHOP $5.6B
WIX $1.4B
FY23
SHOP $7.1B
WIX $1.6B
FY24
SHOP $8.9B
WIX $1.8B
FY25
SHOP $11.6B
WIX $2.0B
SHOP
WIX
Operating margin
FY16
SHOP β
WIX β15.2%
FY17
SHOP β7.3%
WIX β11.8%
FY18
SHOP β8.6%
WIX β5.1%
FY19
SHOP β8.9%
WIX β10.8%
FY20
SHOP 3.1%
WIX β20.2%
FY21
SHOP 5.8%
WIX β25.6%
FY22
SHOP β14.7%
WIX β20.6%
FY23
SHOP β20.1%
WIX β1.6%
FY24
SHOP 12.1%
WIX 5.7%
FY25
SHOP 12.7%
WIX 0.1%
SHOP
WIX
Free cash flow
FY16
SHOP β$9.8M
WIX $36.2M
FY17
SHOP β$12.1M
WIX $71.4M
FY18
SHOP β$18.6M
WIX $102M
FY19
SHOP $13.9M
WIX $128M
FY20
SHOP $383M
WIX $130M
FY21
SHOP $485M
WIX $63.8M
FY22
SHOP β$186M
WIX $35.0M
FY23
SHOP $905M
WIX $245M
FY24
SHOP $1.6B
WIX $496M
FY25
SHOP $2.0B
WIX $582M
SHOP
WIX
Return on capital
FY16
SHOP β
WIX β
FY17
SHOP β
WIX β
FY18
SHOP β
WIX β
FY19
SHOP β
WIX β
FY20
SHOP 13.5%
WIX β40.1%
FY21
SHOP 9.9%
WIX β62.5%
FY22
SHOP β15.5%
WIX β
FY23
SHOP β22.3%
WIX β
FY24
SHOP 16.3%
WIX β
FY25
SHOP 16.3%
WIX β
SHOP
WIX
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.