Review of Shopify Inc.

JUL 17, 2025 - Given the strong competitive advantage of high switching costs and a tremendous addressable market. SHOP is expected to continue to grow at a healthy pace in the foreseeable future. The company has shifted its long-term growth strategy relative to giants like Amazon by only focusing on high-value-added, high-margin software solutions and divesting capital-intensive, competitive, commoditized logistics. Lastly, SHOP’s management has demonstrated a commitment to cost control recently, which we think could help expand margins significantly over time due to its business model with high operational leverage. The company continues to be a great long-term holding for growth-oriented investors. We are maintaining our rating of ‘A-‘.

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Constellation Software Inc. (CSU $3,955.01)
- $3,955.01 P/E (TTM): 97.2X Cap: $83.81B
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TFI International Inc. (TFII $125.62)
- $125.62 P/E (TTM): 20.23X Cap: $10.42B
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Thomson Reuters Corporation (TRI $217.14)
- $217.14 P/E (TTM): 42.45X Cap: $97.86B
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Shopify Inc. Class A Subordinate Voting Shares (SHOP $214.84)
- $214.84 P/E (TTM): 85.84X Cap: $279.15B
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Brookfield Corporation Class A Limited Voting Shares (BN $63.64)
- $63.64 P/E (TTM): 101.34X Cap: $142.77B
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Q: Is recent question I asked was only partially answered. The question was asked by Tim on Oct 8. Here is your response:
Our top five for a growth investor with a long-term timeframe would be: SHOP ($220 if possible), BN ($91-$93), TRI ($190 to $200), CSU ($3800), TD ($105 to $110) /BNS ($85).

The part of the question not answered was whether these large cap stocks would be suitable for a tfsa. I have been using small caps mostly, but now am wanting to get more conservative. Thanks very much

Read Answer Asked by joseph on October 10, 2025

Toronto-Dominion Bank (The) (TD $111.51)
- $111.51 P/E (TTM): 9.26X Cap: $190.37B
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Bank of Nova Scotia (The) (BNS $90.11)
- $90.11 P/E (TTM): 17.08X Cap: $111.87B
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Constellation Software Inc. (CSU $3,955.01)
- $3,955.01 P/E (TTM): 97.2X Cap: $83.81B
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Thomson Reuters Corporation (TRI $217.14)
- $217.14 P/E (TTM): 42.45X Cap: $97.86B
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Shopify Inc. Class A Subordinate Voting Shares (SHOP $214.84)
- $214.84 P/E (TTM): 85.84X Cap: $279.15B
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Q: What would be your top 5 larger cap stocks in Canada today? What would consider to be good entry points?

Thank you
Tim

Read Answer Asked by Timothy on October 08, 2025

Shopify Inc. Class A Subordinate Voting Shares (SHOP $214.84)
- $214.84 P/E (TTM): 85.84X Cap: $279.15B
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Q: SHOP is again the most valued company on the TSX. What portion of a portfolio should be allocated to SHOP in order to match the portion of SHOP to the total valuation of the TSX? I use the TSX as my benchmark and would rather remove the effect of SHOP when comparing my portfolio’s performance to the benchmark.

Read Answer Asked by André on October 06, 2025