Cloudflare (NET) vs Shopify (SHOP)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Cloudflare (NET) has outperformed Shopify (SHOP) over the past year, gaining 57.8% versus a gain of 2.9%. Over five years, NET leads with a +104.5% price change compared with +16.5% for SHOP. Shopify is the larger company by market cap ($213.81 billion vs $121.36 billion), about 1.8 times the size.
On valuation, Shopify trades at a lower forward P/E (67.2x vs 203.3x for Cloudflare). Shopify converts more of its revenue into profit, with a net margin of 10.7% versus -4.7%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | NET | SHOP |
|---|---|---|
| Share price | $340.83 | $164.77 |
| Market cap | $121.36B | $213.81B |
| 1-day change | -0.62% | -0.76% |
| YTD return | +73.96% | +3.14% |
| 1-year return | +57.77% | +2.95% |
| 5-year return | +104.53% | +16.55% |
| P/E ratio (TTM) | — | 111.33 |
| Forward P/E | 203.34 | 67.22 |
| EPS (TTM) | $-0.58 | $1.48 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $2.17B | $11.56B |
| Revenue growth (YoY) | +29.85% | +30.14% |
| Net income (latest FY) | $-102.27M | $1.23B |
| Gross margin | 74.51% | 48.07% |
| Operating margin | -9.56% | 12.70% |
| Net margin | -4.72% | 10.65% |
| 52-week high | $370.35 | $182.19 |
| 52-week low | $158.83 | $94.00 |
| Distance from 52-week high | -7.97% | -9.56% |
| Analyst consensus | buy | buy |
| Avg. price target upside | -0.33% | +5.05% |
| Average volume | 3.33M | 9.45M |
| Shares outstanding | 322.62M | 1.22B |
| Employees | 5,156 | 7,600 |
| Sector | Technology | Technology |
| Industry | Computer Software: Prepackaged Software | Computer Software: Prepackaged Software |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- NET has outperformed SHOP by 54.8 percentage points over the past year.
- Shopify is more profitable, keeping 10.7 cents of every revenue dollar as net income versus -4.7 cents for Cloudflare.
About Cloudflare
NET stock →Cloudflare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide.
Technology · Computer Software: Prepackaged Software · 5,156 employees
About Shopify
SHOP stock →Shopify Inc., a commerce technology company, provides tools to start, scale, market, and run a business of various sizes in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The Company offers Shopify platform that enables merchants to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics, and reporting and access financing for running their business across all of their sales channels, including web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces.
Technology · Computer Software: Prepackaged Software · 7,600 employees
NET vs SHOP FAQ
Which is bigger, Cloudflare or Shopify?
Shopify (SHOP) is larger, with a market capitalization of $213.81B compared with $121.36B for Cloudflare (NET).
Which stock has performed better over the past year, NET or SHOP?
NET returned +57.77% over the past 12 months, compared with +2.95% for SHOP (price return, excluding dividends). Past performance does not predict future results.
Are Cloudflare and Shopify in the same industry?
Yes. Both are classified in the Computer Software: Prepackaged Software industry within the Technology sector.