Shopify (FRA:307) Research & Development: €1,372 Mil (TTM As of Mar. 2026)


FRA:307 Shopify Inc FRA:307
83 GF Score
Price €98.78
GF Value €123.20
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Shopify Research & Development?

Shopify FRA:307 +5.98% 83 Research & Development is €1,372 Mil as of Mar. 2026. GuruFocus rates FRA:307 with a GF Score™ of 83/100 and a GF Value™ of €123.20 (Modestly Undervalued). The stock has 2 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Shopify's Research & Development for the three months ended in Mar. 2026 was €378 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was €1,372 Mil.

Shopify  (FRA:307) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Shopify Research & Development Related Terms

Shopify Research & Development Historical Data

* Premium members only.

The historical data trend for Shopify's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Shopify Research & Development Chart

Shopify Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 756.13 1,418.83 1,586.41 1,305.49 1,311.74

Shopify Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 348.73 341.60 319.50 333.06 378.01
FRA:307
83GF Score
Shopify Inc FRA:307
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Shopify Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,372 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of €1,372 Mil mean?
Shopify (FRA:307) has a Research & Development of €1,372 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on Shopify and its competitors.
Is Shopify's Research & Development too high?
Shopify's current Research & Development is €1,372 Mil. Overall, Shopify has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shopify's Research & Development compare to CRM and UBER?
Shopify's Research & Development of €1,372 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Software company?
A good Research & Development depends on the Software industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Shopify and its competitors. Shopify's current Research & Development is €1,372 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shopify stock overvalued right now?
Based on GuruFocus' analysis, Shopify (FRA:307) is currently considered Modestly Undervalued. The stock's GF Value™ is €123.20, compared to a current price of €98.78 — trading 19.8% below its estimated fair value. The current Research & Development is €1,372 Mil. Shopify's overall GF Score™ is 83/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Shopify (FRA:307), the current Research & Development is €1,372 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Shopify (FRA:307) Overvalued in 2026?

Based on GuruFocus' analysis, Shopify stock appears to be undervalued. The current stock price of €98.78 is trading 19.8% below its estimated GF Value™ of €123.20. GuruFocus considers Shopify to be Modestly Undervalued.

Key valuation signals for FRA:307:

  • Research & Development: €1,372 Mil
  • GF Value™: €123.20 vs. price of €98.78 (19.8% below fair value)
  • GF Score™: 83/100 with 2 warning signs

No single metric tells the full story. See the FRA:307 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Shopify Business Description

Address 151 O\'Connor Street, Ground Floor, Ottawa, ON, CAN, K2P 2L8
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
83GF Score

Get the complete analysis for FRA:307

Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€98.78
Price
€123.20
GF Value