Shopify Inc. (SHOP)

Shopify Ratios and Metrics

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

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 11, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Cap	168,909	288,163	198,058	132,723	59,944	219,274
Market Cap Growth	12.96%	45.49%	49.23%	121.41%	-72.66%	24.51%
Enterprise Value	159,614	282,556	193,687	128,848	56,269	212,663
PE Ratio	137.79	171.29	68.78	777.80	-12.69	60.17
Forward PE	70.96	-	-	-	-	-
PEG Ratio	2.26	-	-	-	-	-
PS Ratio	14.39	24.94	22.30	18.80	10.70	47.55
PB Ratio	12.52	21.39	17.14	14.64	7.28	19.70
P/TBV Ratio	12.55	21.41	17.23	14.74	7.23	19.93
P/FCF Ratio	82.83	143.58	124.02	146.65	-322.28	452.18
P/OCF Ratio	81.77	141.74	122.56	140.60	-440.76	409.31
EV/Sales Ratio	13.81	24.45	21.81	18.25	10.05	46.11
EV/EBITDA Ratio	82.74	188.50	174.34	-95.58	-77.19	634.91
EV/EBIT Ratio	84.10	192.48	180.17	-90.87	-68.45	791.62
EV/FCF Ratio	79.53	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	1.21%	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 Feb 11, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q