Shopify Inc. (TSX:SHOP)

Shopify Ratios and Metrics

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

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 17, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Cap	220,978	395,691	271,963	182,248	82,312	301,096
Market Cap Growth	15.59%	45.49%	49.23%	121.41%	-72.66%	24.51%
Enterprise Value	211,894	387,992	265,961	176,927	77,266	292,019
PE Ratio	130.92	171.29	68.78	777.80	-12.69	60.17
Forward PE	68.84	95.92	75.09	75.87	-	224.55
PEG Ratio	-	2.33	1.95	1.49	-	5.18
PS Ratio	13.95	24.94	22.30	18.80	10.70	47.55
PB Ratio	11.96	21.39	17.14	14.64	7.28	19.70
P/TBV Ratio	16.47	21.41	17.23	14.74	7.23	19.93
P/FCF Ratio	80.30	143.58	124.02	146.65	-322.28	452.18
P/OCF Ratio	79.27	141.74	122.56	140.60	-440.76	409.31
EV/Sales Ratio	13.39	24.45	21.81	18.25	10.05	46.11
EV/EBITDA Ratio	80.31	188.50	174.34	-95.58	-77.19	634.91
EV/EBIT Ratio	83.29	192.48	180.17	-90.87	-68.45	791.62
EV/FCF Ratio	77.00	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	0.76%	0.58%	1.45%	0.13%	-7.88%	1.66%
FCF Yield	1.25%	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.