Shopify Ratios and Metrics

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

Millions PEN. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 9, 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	579,467	985,085	677,061	453,712	204,918	749,588
Market Cap Growth	5.25%	45.49%	49.23%	121.41%	-72.66%	24.51%
Enterprise Value	556,680	965,917	662,118	440,465	192,355	726,990
PE Ratio	139.92	171.29	68.78	777.80	-12.69	60.17
Forward PE	72.21	-	-	-	-	-
PS Ratio	14.91	24.94	22.30	18.80	10.70	47.55
PB Ratio	12.78	21.39	17.14	14.64	7.28	19.70
P/TBV Ratio	12.02	21.41	17.23	14.74	7.23	19.93
P/FCF Ratio	85.82	143.58	124.02	146.65	-322.28	452.18
P/OCF Ratio	84.72	141.74	122.56	140.60	-440.76	409.31
EV/Sales Ratio	14.02	24.45	21.81	18.25	10.05	46.11
EV/EBITDA Ratio	84.10	188.50	174.34	-95.58	-77.19	634.91
EV/EBIT Ratio	87.23	192.48	180.17	-90.87	-68.45	791.62
EV/FCF Ratio	82.45	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	0.71%	0.58%	1.45%	0.13%	-7.88%	1.66%
FCF Yield	1.17%	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.