Shopify Inc. (SHOP)

Shopify Ratios and Metrics

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

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Nov 14, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	190,121	137,389	100,187	44,154	173,001	138,858
Market Cap Growth	84.23%	37.13%	126.90%	-74.48%	24.59%	201.30%
Enterprise Value	184,211	133,635	96,391	40,512	166,582	133,639
Last Close Price	146.04	106.33	77.90	34.71	137.74	113.19
PE Ratio	107.75	68.05	758.99	-	59.36	434.60
Forward PE	87.77	75.09	75.87	-	224.55	-
PS Ratio	17.70	15.47	14.19	7.89	37.51	47.40
PB Ratio	15.19	11.89	11.05	5.36	15.54	21.69
P/TBV Ratio	15.86	12.40	11.64	7.34	16.26	23.33
P/FCF Ratio	99.91	86.03	110.70	-	356.76	362.34
P/OCF Ratio	98.87	85.02	106.13	-	322.94	326.76
PEG Ratio	3.59	1.95	1.49	-	5.18	8.66
EV/Sales Ratio	17.22	15.05	13.65	7.23	36.12	45.62
EV/EBITDA Ratio	106.73	104.16	292.09	-	372.82	569.51
EV/EBIT Ratio	108.74	107.17	370.74	-	437.79	769.70
EV/FCF Ratio	96.80	83.68	106.51	-	343.52	348.72
Debt / Equity Ratio	0.09	0.10	0.13	0.17	0.11	0.14
Debt / EBITDA Ratio	0.63	0.85	3.04	-	2.43	3.38
Debt / FCF Ratio	0.59	0.71	1.27	-	2.42	2.38
Asset Turnover	0.78	0.70	0.64	0.47	0.44	0.52
Inventory Turnover	-	195.91	-	-	-	-
Quick Ratio	3.06	3.01	5.94	6.27	11.37	15.00
Current Ratio	3.93	3.71	6.99	7.07	12.15	15.69
Return on Equity (ROE)	15.74%	19.58%	1.53%	-35.72%	33.25%	6.79%
Return on Assets (ROA)	7.74%	6.18%	1.47%	-2.47%	2.25%	1.93%
Return on Capital (ROIC)	8.51%	6.81%	1.64%	-2.71%	2.42%	2.07%
Return on Capital Employed (ROCE)	13.20%	10.40%	2.50%	-4.80%	3.00%	2.40%
Earnings Yield	0.94%	1.47%	0.13%	-7.84%	1.69%	0.23%
FCF Yield	1.00%	1.16%	0.90%	-0.42%	0.28%	0.28%
Buyback Yield / Dilution	0.15%	-0.46%	-2.31%	0.58%	-3.16%	-9.23%

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q