Shopify Ratios and Metrics

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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 Capitalization	154,694	209,558	137,389	100,187	44,154	173,001
Market Cap Growth	25.96%	52.53%	37.13%	126.90%	-74.48%	24.59%
Enterprise Value	148,060	203,648	133,635	96,391	40,512	166,582
Last Close Price	118.62	160.97	106.33	77.90	34.71	137.74
PE Ratio	126.19	170.23	68.05	758.99	-	59.36
Forward PE	64.85	95.92	75.09	75.87	-	224.55
PS Ratio	13.39	18.13	15.47	14.19	7.89	37.51
PB Ratio	11.48	15.55	11.89	11.05	5.36	15.54
P/TBV Ratio	11.94	16.18	12.40	11.64	7.34	16.26
P/FCF Ratio	77.08	104.41	86.03	110.70	-	356.76
P/OCF Ratio	76.09	103.08	85.02	106.13	-	322.94
PEG Ratio	2.07	2.33	1.95	1.49	-	5.18
EV/Sales Ratio	12.81	17.62	15.05	13.65	7.23	36.12
EV/EBITDA Ratio	76.75	105.57	104.16	292.09	-	372.82
EV/EBIT Ratio	78.01	107.30	107.17	370.74	-	437.79
EV/FCF Ratio	73.77	101.47	83.68	106.51	-	343.52
Debt / Equity Ratio	0.01	0.01	0.10	0.13	0.17	0.11
Debt / EBITDA Ratio	0.10	0.10	0.85	3.04	-	2.43
Debt / FCF Ratio	0.09	0.09	0.71	1.27	-	2.42
Net Debt / Equity Ratio	-0.49	-0.49	-0.44	-0.44	-0.45	-0.59
Net Debt / EBITDA Ratio	-3.44	-3.44	-3.97	-12.13	9.64	-14.81
Net Debt / FCF Ratio	-3.30	-3.30	-3.19	-4.42	19.84	-13.64
Asset Turnover	0.79	0.79	0.70	0.64	0.47	0.44
Inventory Turnover	255.36	255.36	195.91	-	-	-
Quick Ratio	4.58	4.58	3.01	5.94	6.27	11.37
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)	8.15%	8.15%	6.18%	1.47%	-2.47%	2.25%
Return on Invested Capital (ROIC)	20.52%	20.67%	18.30%	3.82%	-10.50%	13.00%
Return on Capital Employed (ROCE)	13.80%	13.80%	10.40%	2.50%	-4.80%	3.00%
Earnings Yield	0.80%	0.59%	1.47%	0.13%	-7.84%	1.69%
FCF Yield	1.30%	0.96%	1.16%	0.90%	-0.42%	0.28%
Buyback Yield / Dilution	-0.27%	-0.27%	-0.46%	-2.31%	0.58%	-3.16%

Updated Feb 11, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q