A stock that can help put an investor on the path to millionaire status usually has a few things going for it. For instance, a huge market opportunity, strong revenue growth, a business model that gets more powerful over time, and enough staying power to keep compounding for years.
It also helps if the company already has scale, because it lowers the odds that the whole story rests on a dream. In that kind of search, Shopify (TSX: SHOP) still stands out.
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SHOP
Shopify stock gives merchants the tools to build online stores, manage payments, handle shipping, market products, and sell across channels. What once looked like a simple e-commerce platform now looks a lot more like the operating system for modern retail. If more businesses want one place to run everything, Shopify stock keeps getting more valuable. It’s not just helping people sell online anymore, but helping brands run commerce almost everywhere.
Over the last year, Shopify stock kept giving investors fresh reasons to pay attention. It launched more artificial intelligence (AI) tools for merchants, including its AI Store Builder, and kept pushing harder into enterprise accounts. It also stayed in the spotlight as large brands continued signing on. On top of that, Shopify’s platform benefited from strong Black Friday and Cyber Monday sales, which reminded investors that the company still has plenty of momentum when spending holds up.
Into earnings
The financial results looked strong, too. In the fourth quarter of 2025, revenue rose 31% year over year to US$2.8 billion, while gross merchandise volume climbed 26% to US$94.5 billion. That is the kind of growth investors love to see from a company that is no longer tiny. It shows Shopify stock is still expanding even at a much larger size, which isn’t easy.
For the full year 2025, Shopify stock reported revenue of about US$8.9 billion, up sharply from the year before, and management pointed to continued growth in merchant solutions and subscription revenue. Profitability also kept improving, though not perfectly, as Shopify stock is still spending on AI, marketing, and expansion. That’s the trade-off here. Investors get strong growth, but also need to accept that management is still investing hard to widen the moat.
Looking ahead
Valuation is where the story gets a little spicy. Shopify stock isn’t cheap. With a market cap at $221 billion, Shopify stock carried a trailing price-to-earnings (P/E) ratio above 131, with a forward multiple much lower but still rich at about 65. That means investors are paying up for quality and future growth. If growth slows, the stock could absolutely wobble, so this isn’t some sleepy bargain-bin pick.
Still, the future case is not hard to see. Shopify stock has millions of merchants, growing enterprise traction, strong market share in U.S. e-commerce, and a bigger AI opportunity than many investors probably realize. If its tools help merchants save time, sell more, and stick around longer, that creates a strong compounding loop. The more merchants rely on Shopify stock, the harder it becomes to leave. That’s a very attractive trait in a long-term stock.
Bottom line
So could buying this one stock actually put you on a path to millionaire status? Yes, but only with patience, discipline, and time. Shopify stock has the kind of business that could keep compounding for years, which is exactly what investors need if they want a shot at turning a solid investment into something much bigger. Sure, it’s not a guaranteed ticket to seven figures, of course. But if you are looking for one Canadian stock with real millionaire-making potential, Shopify stock still has a very convincing case.
