NOW vs SHOP
ServiceNow, Inc. and Shopify Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | NOW | SHOP |
|---|---|---|
| Revenue | $13.3B | $11.6B |
| Net income | $1.7B | $1.2B |
| Gross margin | 77.5% | 48.1% |
| Net margin | 13.2% | 10.7% |
| Return on equity | 15.5% | 9.8% |
| Diluted EPS | $1.67 | $0.94 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $4.6B | $2.0B |
| Equity | $13.0B | $13.5B |
| Net debt / equity | · | · |
| Current ratio | 1.00× | 5.96× |
| Revenue CAGR 5y | 24.1% | 31.6% |
| Profit CAGR 5y | 71.2% | 31.0% |
NOW and SHOP book revenue within 15% of each other, and keeps more of each dollar of revenue as profit (13.2% 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 | NOW | SHOP |
|---|---|---|
| FY2025 | $13.3B | $11.6B |
| FY2024 | $11.0B | $8.9B |
| FY2023 | $9.0B | $7.1B |
| FY2022 | $7.2B | $5.6B |
| FY2021 | $5.9B | $4.6B |
| FY2020 | $4.5B | $2.9B |
| FY2019 | $3.5B | $1.6B |
| FY2018 | $2.6B | $1.1B |
| FY2017 | $1.9B | $673.3M |
| FY2016 | $1.4B | $389.3M |
Bottom line
| Fiscal year | NOW | SHOP |
|---|---|---|
| FY2025 | $1.7B | $1.2B |
| FY2024 | $1.4B | $2.0B |
| FY2023 | $1.7B | $132.0M |
| FY2022 | $325.0M | $-3.5B |
| FY2021 | $230.0M | $2.9B |
| FY2020 | $119.0M | $319.5M |
| FY2019 | $626.7M | $-124.8M |
| FY2018 | $-26.7M | $-64.6M |
| FY2017 | $-116.8M | $-40.0M |
| FY2016 | $-414.2M | $-35.4M |
13 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$1,722,000,000 | NOW |
| FY2024 | +$2,104,000,000 | NOW |
| FY2023 | +$1,911,000,000 | NOW |
| FY2022 | +$1,645,000,000 | NOW |
| FY2021 | +$1,284,144,000 | NOW |
| FY2020 | +$1,589,509,000 | NOW |
| FY2019 | +$1,881,827,000 | NOW |
| FY2018 | +$1,535,587,000 | NOW |
| FY2017 | +$1,245,190,000 | NOW |
| FY2016 | +$1,001,655,000 | NOW |
| FY2015 | +$800,247,000 | NOW |
| FY2014 | +$577,545,000 | NOW |
| FY2013 | +$374,398,000 | NOW |
NOW has reported the higher revenue in every one of these 13 fiscal years. The gap has widened since the earliest year compared.
13 of 16 comparable fiscal years — a year missing data on either side is not counted.
13 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +2.5 pp | NOW |
| FY2024 | −9.8 pp | SHOP |
| FY2023 | +17.4 pp | NOW |
| FY2022 | +66.3 pp | NOW |
| FY2021 | −59.3 pp | SHOP |
| FY2020 | −8.3 pp | SHOP |
| FY2019 | +26.0 pp | NOW |
| FY2018 | +5.0 pp | NOW |
| FY2017 | −0.2 pp | SHOP |
| FY2016 | −20.7 pp | SHOP |
| FY2015 | −10.6 pp | SHOP |
| FY2014 | −5.0 pp | SHOP |
| FY2013 | −7.7 pp | SHOP |
The higher net margin has changed hands between NOW and SHOP over this period.
13 of 16 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 NOW's over the 13 comparable fiscal years — 26.9 percentage points of standard deviation against 16.0.
13 of 16 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between NOW and SHOP over these 13 fiscal years — NOW led in 5 and SHOP in 8.
13 of 16 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
NOW's return on equity has been more volatile than SHOP's over the 13 comparable fiscal years — 30.7 percentage points of standard deviation against 17.7.
13 of 14 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 NOW and SHOP over these 13 fiscal years — NOW led in 5 and SHOP in 8.
13 of 14 comparable fiscal years — a year missing data on either side is not counted.