Shopify Ratios and Metrics

Market cap in millions THB. Fiscal year is January - December.

Millions THB. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 13, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	5,281,725	9,336,361	6,416,994	4,300,159	1,942,155	7,104,384
Market Cap Growth	6.81%	45.49%	49.23%	121.41%	-72.66%	24.51%
Enterprise Value	5,068,774	9,154,697	6,275,375	4,174,610	1,823,086	6,890,212
PE Ratio	136.05	171.29	68.78	777.80	-12.69	60.17
Forward PE	70.19	95.92	75.09	75.87	-	224.55
PEG Ratio	-	2.33	1.95	1.49	-	5.18
PS Ratio	14.49	24.94	22.30	18.80	10.70	47.55
PB Ratio	12.43	21.39	17.14	14.64	7.28	19.70
P/TBV Ratio	0.20	21.41	17.23	14.74	7.23	19.93
P/FCF Ratio	83.45	143.58	124.02	146.65	-322.28	452.18
P/OCF Ratio	82.38	141.74	122.56	140.60	-440.76	409.31
EV/Sales Ratio	13.66	24.45	21.81	18.25	10.05	46.11
EV/EBITDA Ratio	81.94	188.50	174.34	-95.58	-77.19	634.91
EV/EBIT Ratio	84.99	192.48	180.17	-90.87	-68.45	791.62
EV/FCF Ratio	80.08	140.79	121.28	142.37	-302.52	438.55
Debt / Equity Ratio	0.01	0.01	0.10	0.12	0.17	0.10
Debt / EBITDA Ratio	0.13	0.13	1.01	-0.85	-1.91	3.50
Debt / FCF Ratio	0.09	0.09	0.71	1.27	-7.50	2.42
Net Debt / Equity Ratio	-0.41	-0.41	-0.38	-0.43	-0.44	-0.59
Net Debt / EBITDA Ratio	-3.73	-3.73	-3.92	2.86	5.02	-19.69
Net Debt / FCF Ratio	-2.78	-2.78	-2.73	-4.26	19.66	-13.60
Asset Turnover	0.79	0.79	0.70	0.64	0.46	0.44
Quick Ratio	5.79	5.79	3.60	6.80	6.90	12.00
Current Ratio	5.96	5.96	3.71	6.99	7.07	12.15
Return on Equity (ROE)	9.84%	9.84%	19.58%	1.53%	-35.72%	33.25%
Return on Assets (ROA)	8.23%	8.23%	7.72%	-9.17%	-6.52%	2.36%
Return on Invested Capital (ROIC)	14.93%	14.93%	14.52%	-18.61%	-15.28%	8.06%
Return on Capital Employed (ROCE)	11.40%	11.40%	9.61%	-13.97%	-7.29%	2.69%
Earnings Yield	0.74%	0.58%	1.45%	0.13%	-7.88%	1.66%
FCF Yield	1.20%	0.70%	0.81%	0.68%	-0.31%	0.22%
Buyback Yield / Dilution	-0.11%	-0.08%	-0.03%	-0.05%	-0.03%	-0.75%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.