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	May '26 May 18, 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	132,776	288,156	198,062	132,592	59,954	219,272
Market Cap Growth	5.70%	45.49%	49.38%	121.15%	-72.66%	24.50%
Enterprise Value	123,857	280,461	191,789	127,457	54,968	210,917
Last Close Price	102.32	221.00	152.99	103.06	47.02	174.17
PE Ratio	98.79	171.29	68.78	777.80	-12.69	60.17
Forward PE	53.32	95.92	75.09	75.87	-	224.55
PEG Ratio	2.07	2.33	1.95	1.49	-	5.18
PS Ratio	10.52	18.17	15.54	14.17	7.89	37.62
PB Ratio	10.43	15.58	11.94	11.04	5.36	15.58
P/TBV Ratio	10.70	21.41	17.23	14.73	7.23	19.93
P/FCF Ratio	61.38	104.61	86.42	110.57	-237.54	357.76
P/OCF Ratio	60.61	103.27	85.41	106.01	-324.88	323.84
EV/Sales Ratio	10.02	17.68	15.05	13.63	7.23	36.18
EV/EBITDA Ratio	57.66	136.31	120.29	-71.36	-55.57	498.21
EV/EBIT Ratio	58.48	139.19	124.32	-67.84	-49.28	621.18
EV/FCF Ratio	58.42	101.81	83.68	106.29	-217.79	344.13
Debt / Equity Ratio	0.01	0.01	0.10	0.12	0.17	0.10
Debt / EBITDA Ratio	0.11	0.13	1.01	-0.85	-1.91	3.50
Debt / FCF Ratio	0.08	0.09	0.71	1.27	-7.50	2.42
Net Debt / Equity Ratio	-0.44	-0.41	-0.38	-0.43	-0.44	-0.59
Net Debt / EBITDA Ratio	-3.32	-3.73	-3.92	2.86	5.02	-19.69
Net Debt / FCF Ratio	-2.62	-2.78	-2.73	-4.26	19.66	-13.60
Asset Turnover	0.84	0.79	0.70	0.64	0.46	0.44
Quick Ratio	6.05	5.79	3.60	6.80	6.90	12.00
Current Ratio	6.20	5.96	3.71	6.99	7.07	12.15
Return on Equity (ROE)	9.39%	9.84%	19.58%	1.53%	-35.72%	33.25%
Return on Assets (ROA)	9.91%	8.23%	7.72%	-9.17%	-6.52%	2.36%
Return on Invested Capital (ROIC)	18.52%	14.93%	14.52%	-18.61%	-15.28%	8.06%
Return on Capital Employed (ROCE)	12.41%	11.40%	9.61%	-13.97%	-7.29%	2.69%
Earnings Yield	1.02%	0.58%	1.45%	0.13%	-7.88%	1.66%
FCF Yield	1.63%	0.96%	1.16%	0.90%	-0.42%	0.28%
Buyback Yield / Dilution	-0.26%	-0.26%	-0.46%	-2.31%	0.58%	-3.16%
Total Shareholder Return	-0.26%	-0.26%	-0.46%	-2.31%	0.58%	-3.16%

Updated May 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q