Key Points Shopify's revenue grew from about $389 million in 2016 to $11.6 billion in 2025, an almost 30-fold rise. Gross merchandise volume across the platform hit $378 billion last year, up from $15.4 billion in 2016. The stock's forward price-to-earnings ratio is about 53, a valuation that prices in years more of fast growth. 10 stocks we like better than Shopify › On Sept. 15, 2016, Shopify (NASDAQ:SHOP) stock closed at a split-adjusted $4.18 per share. As of this writing, shares trade around $130. That comes out to about 31 times the initial investment -- enough to make a $10,000 stake bought that day worth about $311,000 today. And because Shopify does not pay a dividend, the share price did all the work. Missed AI’s "Act 1"?
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