CRM vs SHOP
Salesforce, Inc. and Shopify Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | CRM | SHOP |
|---|---|---|
| Revenue | $41.5B | $11.6B |
| Net income | $7.5B | $1.2B |
| Gross margin | 77.7% | 48.1% |
| Net margin | 18.0% | 10.7% |
| Return on equity | 12.4% | 9.8% |
| Diluted EPS | $7.80 | $0.94 |
| Dividend / share | · | · |
| Payout ratio | 21.3% | · |
| Free cash flow | $14.4B | $2.0B |
| Equity | $59.1B | $13.5B |
| Net debt / equity | 0.12× | · |
| Current ratio | 0.76× | 5.96× |
| Revenue CAGR 5y | 14.3% | 31.6% |
| Profit CAGR 5y | 12.9% | 31.0% |
CRM bills 3.6× the revenue of SHOP, and keeps more of each dollar of revenue as profit (18.0% against 10.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | CRM | SHOP |
|---|---|---|
| FY2025 | $41.5B | $11.6B |
| FY2024 | $37.9B | $8.9B |
| FY2023 | $34.9B | $7.1B |
| FY2022 | $31.4B | $5.6B |
| FY2021 | $26.5B | $4.6B |
| FY2020 | $21.3B | $2.9B |
| FY2019 | $17.1B | $1.6B |
| FY2018 | $13.3B | $1.1B |
| FY2017 | $10.5B | $673.3M |
| FY2016 | $8.4B | $389.3M |
Bottom line
| Fiscal year | CRM | SHOP |
|---|---|---|
| FY2025 | $7.5B | $1.2B |
| FY2024 | $6.2B | $2.0B |
| FY2023 | $4.1B | $132.0M |
| FY2022 | $208.0M | $-3.5B |
| FY2021 | $1.4B | $2.9B |
| FY2020 | $4.1B | $319.5M |
| FY2019 | $126.0M | $-124.8M |
| FY2018 | $1.1B | $-64.6M |
| FY2017 | $360.0M | $-40.0M |
| FY2016 | $323.0M | $-35.4M |
13 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$29,969,000,000 | CRM |
| FY2024 | +$29,015,000,000 | CRM |
| FY2023 | +$27,797,000,000 | CRM |
| FY2022 | +$25,752,000,000 | CRM |
| FY2021 | +$21,880,144,000 | CRM |
| FY2020 | +$18,322,509,000 | CRM |
| FY2019 | +$15,519,827,000 | CRM |
| FY2018 | +$12,208,771,000 | CRM |
| FY2017 | +$9,866,696,000 | CRM |
| FY2016 | +$8,047,670,000 | CRM |
| FY2015 | +$6,461,983,000 | CRM |
| FY2014 | +$5,268,568,000 | CRM |
| FY2013 | +$4,020,751,000 | CRM |
CRM has reported the higher revenue in every one of these 13 fiscal years. The gap has widened since the earliest year compared.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
13 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +7.3 pp | CRM |
| FY2024 | −6.4 pp | SHOP |
| FY2023 | +10.0 pp | CRM |
| FY2022 | +62.4 pp | CRM |
| FY2021 | −57.7 pp | SHOP |
| FY2020 | +8.3 pp | CRM |
| FY2019 | +8.6 pp | CRM |
| FY2018 | +14.4 pp | CRM |
| FY2017 | +9.4 pp | CRM |
| FY2016 | +12.9 pp | CRM |
| FY2015 | +8.4 pp | CRM |
| FY2014 | +16.4 pp | CRM |
| FY2013 | +3.9 pp | CRM |
The higher net margin has changed hands between CRM and SHOP over this period.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SHOP's net margin has been more volatile than CRM's over the 13 comparable fiscal years — 26.9 percentage points of standard deviation against 8.0.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between CRM and SHOP over these 13 fiscal years — CRM led in 11 and SHOP in 2.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SHOP's return on equity has been more volatile than CRM's over the 13 comparable fiscal years — 17.7 percentage points of standard deviation against 6.4.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between CRM and SHOP over these 13 fiscal years — CRM led in 10 and SHOP in 3.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.