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ServiceNow vs Shopify: NOW and SHOP compared
ServiceNow is the larger company: $4.1B of revenue in its latest quarter (Q3 2026) against $3.7B for Shopify (Q3 2026). Shopify is growing faster (+32% against +20% a year earlier). Shopify is more profitable, with an operating margin of 15.2% against 9.4%.
Where the money goes: NOW and SHOP
ServiceNow (NOW) · Q3 2026
ServiceNow, Q3 2026: revenue $4.1B (+20% year over year), operating margin 9.4%, net earnings $277M, operating cash flow $839M. The chart follows the revenue to costs, profit and cash.
Shopify (SHOP) · Q3 2026
Shopify, Q3 2026: revenue $3.7B (+32% year over year), operating margin 15.2%, net earnings $462M, operating cash flow $818M. The chart follows the revenue to costs, profit and cash.
| ServiceNow (NOW) | Shopify (SHOP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.1B | $3.7B |
| Revenue growth, Y/Y | +20% | +32% |
| Gross margin | 70.5% | 47.6% |
| Operating margin | 9.4% | 15.2% |
| Net earnings | $277M | $462M |
| Net margin | 6.7% | 12.3% |
| Operating cash flow | $839M | $818M |
| Free cash flow | $748M | $816M |
| Market value | $106.8B | $185.5B |
| P/E | — | 87.1× |
| Analysts’ mean target | $155.82 | $177.19 |
Where the revenue comes from
ServiceNow
- Subscription: $4.0B (97%)
- Professional services and other: $118M (3%)
Shopify
- Merchant solutions: $2.9B (78%)
- Subscription solutions: $836M (22%)
Questions
Which is bigger, ServiceNow or Shopify?
ServiceNow is the larger company: $4.1B of revenue in its latest quarter (Q3 2026) against $3.7B for Shopify (Q3 2026).
Is ServiceNow or Shopify growing faster?
Shopify is growing faster (+32% against +20% a year earlier).
Which is more profitable, ServiceNow or Shopify?
Shopify is more profitable, with an operating margin of 15.2% against 9.4%.
More: ServiceNow earnings · how ServiceNow makes money · Shopify earnings · how Shopify makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.