SHOP vs. ZS: Shopify vs. Zscaler Stock Comparison
How do Shopify (SHOP) and Zscaler (ZS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
Shopify (SHOP) and Zscaler (ZS) both fall under the Software & Services industry group, but SHOP is classified in IT Services while ZS is classified in Software.
| Profile Item | SHOP | ZS |
|---|---|---|
| Name | Shopify Inc. | Zscaler Inc. |
| Country/Region | Canada | United States |
| GICS Sector | Information Technology | Information Technology |
| GICS Industry Group | Software & Services | Software & Services |
| GICS Industry | IT Services | Software |
| GICS Sub-Industry | Internet Services & Infrastructure | Systems Software |
| Market Capitalization | 191.58 billion USD | 32.23 billion USD |
| Currency | USD | USD |
| Exchange | Nasdaq | Nasdaq |
| Listing Date | May 20, 2015 | March 16, 2018 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | SHOP | ZS |
|---|---|---|
| Total Return (1Y) | -0.87% | -37.61% |
| Total Return (3Y, Annualized) | 35.77% | 5.36% |
| Total Return (5Y, Annualized) | -0.57% | -10.75% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
Shopify (SHOP) carries a highly aggressive beta of 2.65, indicating much higher sensitivity to broad-market moves, whereas Zscaler (ZS) is closer to market-like at 0.88 — a noticeable difference in market-sensitivity profile.
| Metric | SHOP | ZS |
|---|---|---|
| Volatility (1Y, Annualized) | 59.71% | 68.66% |
| Beta (5Y) | 2.65 | 0.88 |
| Max Drawdown (5Y) | -84.82% | -76.41% |
| Avg. Volume (3M) | 8.79M | 2.92M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | SHOP | ZS |
|---|---|---|
| Sharpe Ratio (1Y) | -0.09 | -0.61 |
| Sortino Ratio (1Y) | -0.12 | -0.79 |
Profitability
ROE (TTM)
Zscaler (ZS) reports a negative ROE of -2.87%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Shopify (SHOP) reports 16.83%, ranking against industry peers normally.
SHOP
Software & Services industry group
16.83%
- Max
- 53.85%
- Q3
- 17.90%
- SHOP
- 16.83%
- Median
- 6.59%
- Q1
- -9.59%
- Min
- -50.52%
ZS
Software & Services industry group
-2.87%
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- ZS
- -2.87%
- Q1
- -9.59%
- Min
- -50.52%
Net Margin (TTM)
Zscaler (ZS) reports a negative net margin of -1.89%, usually indicating a net loss over the period. Meanwhile Shopify (SHOP) reports 15.01%, ranking against industry peers normally.
SHOP
Software & Services industry group
15.01%
- Max
- 41.17%
- Q3
- 15.28%
- SHOP
- 15.01%
- Median
- 4.63%
- Q1
- -5.42%
- Min
- -33.17%
ZS
Software & Services industry group
-1.89%
- Max
- 41.17%
- Q3
- 15.28%
- Median
- 4.63%
- ZS
- -1.89%
- Q1
- -5.42%
- Min
- -33.17%
Operating Margin (TTM)
Zscaler (ZS) reports a negative operating margin of -1.01%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile Shopify (SHOP) reports 18.39%, ranking against industry peers normally.
SHOP
Software & Services industry group
18.39%
- Max
- 46.89%
- SHOP
- 18.39%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- Min
- -30.45%
ZS
Software & Services industry group
-1.01%
- Max
- 46.89%
- Q3
- 17.64%
- Median
- 8.73%
- ZS
- -1.01%
- Q1
- -2.13%
- Min
- -30.45%
Profitability Metrics
| Metric | SHOP | ZS |
|---|---|---|
| ROE (TTM) | 16.83% | -2.87% |
| ROA (TTM) | 10.77% | -1.03% |
| Net Margin (TTM) | 15.01% | -1.89% |
| Operating Margin (TTM) | 18.39% | -1.01% |
| Gross Margin (TTM) | 47.49% | 76.87% |
Growth
Revenue Growth
Shopify (SHOP) at 30.14% sits in the top revenue growth quartile, while Zscaler (ZS) at 25.42% is closer to the peer norm — faster top-line expansion for SHOP.
EPS Growth
Only one side can be read here: Shopify (SHOP) reports EPS growth of -39.47%, ranked against its industry; Zscaler (ZS) has no EPS growth figure this period.
Growth Metrics
| Metric | SHOP | ZS |
|---|---|---|
| Revenue Growth (YoY) | 30.14% | 25.42% |
| Revenue Growth (3Y CAGR) | 27.31% | 27.51% |
| EPS Growth (YoY) | -39.47% | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Zscaler (ZS) at 1.70 keeps current ratio within its industry’s typical mid-range, while Shopify (SHOP) at 4.86 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.
SHOP
Software & Services industry group
4.86
- Max
- 5.11
- SHOP
- 4.86
- Q3
- 2.77
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
ZS
Software & Services industry group
1.70
- Max
- 5.11
- Q3
- 2.77
- ZS
- 1.70
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
Debt / Equity (MRQ)
Shopify (SHOP) at 0.01 keeps leverage in the lower industry quartile, while Zscaler (ZS) at 0.72 runs a more typical debt-to-equity mix.
SHOP
Software & Services industry group
0.01
- Max
- 2.52
- Q3
- 1.13
- Median
- 0.40
- Q1
- 0.07
- SHOP
- 0.01
- Min
- 0.00
ZS
Software & Services industry group
0.72
- Max
- 2.52
- Q3
- 1.13
- ZS
- 0.72
- Median
- 0.40
- Q1
- 0.07
- Min
- 0.00
Financial Strength Metrics
| Metric | SHOP | ZS |
|---|---|---|
| Current Ratio (MRQ) | 4.86 | 1.70 |
| Debt / Equity (MRQ) | 0.01 | 0.72 |
| Net Debt / EBITDA | -1.75 | -36.63 |
Dividends
Dividend Yield (TTM)
Neither Shopify (SHOP) nor Zscaler (ZS) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
SHOP
Software & Services industry group
0.00%
- SHOP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
ZS
Software & Services industry group
0.00%
- ZS
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Neither Shopify (SHOP) nor Zscaler (ZS) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
SHOP
Software & Services industry group
0.00%
- SHOP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
ZS
Software & Services industry group
0.00%
- ZS
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | SHOP | ZS |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.00% |
| Dividend Payout Ratio (TTM) | 0.00% | 0.00% |
Valuation
P/E Ratio (TTM)
An earnings multiple is available for just one side: Shopify (SHOP) trades at 91.36 times trailing earnings, ranked against its peers, while Zscaler (ZS) has no P/E ratio this period.
SHOP
Software & Services industry group
91.36
- Max
- 112.94
- SHOP
- 91.36
- Q3
- 60.32
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
ZS
Software & Services industry group
--
- Max
- 112.94
- Q3
- 60.32
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
- ZS
- --
P/S Ratio (TTM)
Both Shopify (SHOP) at 13.52 and Zscaler (ZS) at 9.61 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.
SHOP
Software & Services industry group
13.52
- Max
- 17.91
- SHOP
- 13.52
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
ZS
Software & Services industry group
9.61
- Max
- 17.91
- ZS
- 9.61
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
P/B Ratio (MRQ)
Both Shopify (SHOP) at 15.02 and Zscaler (ZS) at 12.40 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.
SHOP
Software & Services industry group
15.02
- Max
- 16.63
- SHOP
- 15.02
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
ZS
Software & Services industry group
12.40
- Max
- 16.63
- ZS
- 12.40
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
Valuation Metrics
| Metric | SHOP | ZS |
|---|---|---|
| P/E Ratio (TTM) | 91.36 | -- |
| P/S Ratio (TTM) | 13.52 | 9.61 |
| P/B Ratio (MRQ) | 15.02 | 12.40 |
| Free Cash Flow Yield (TTM) | 0.86% | 3.34% |