Shopify’s Asset-Light Shift Delivers Higher Profit, Steady Cash Flow and New Credit Exposure
Shopify Inc. ended the third quarter of 2025 with stronger revenue, improved margins and a solid free-cash-flow record, underscoring the company’s complete transition from a capital-intensive logistics operator to an asset-light commerce platform. The Class A share closed at $158.64 on 28 November, and the stock now trades on trailing and forward price-to-earnings ratios of […]