Shopify Inc. Class A Subordinate Voting Shares (SHOP) exhibits 48.1% gross margins and 6.7% return on invested capital within Technology (Computer Software: Prepackaged Software), balanced against a 95.0x enterprise multiple and 7.6% implied options volatility.
Sustained 48.1% gross profitability converts into 12.7% operating margin and 6.7% ROIC, outpacing sector cost of capital.
ROIC: 6.7% // GM: 48.1%YoY revenue trajectory of +30.1% paired with 0.93% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +30.1% // FCF YLD: 0.93%Altman Z-Score of 19.69 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.
ALTMAN Z: 19.69 // F-SCORE: 8/9Trading at 175.7x trailing P/E (140.0x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 175.7x // EV/EBITDA: 95.0xOptions market prices a ±7.6% implied move with a 0.88 put/call ratio around $164.00 max pain.
IMPL MOVE: ±7.6% // P/C: 0.88Elevated industry capital intensity and customer concentration in Computer Software: Prepackaged Software require continuous execution to defend 10.7% net margins.
NET MARGIN: 10.7% // D/E: 0.23x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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