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Friday 6 November 2026 Export SHOP’s income statement to Excel — free account

Shopify Inc.

SHOP Technology Software Application

Shopify Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.6 billion, up 30.1% from fiscal 2024.

Revenue
+31.6%
EPS
+79.5%
Free cash flow
+61.0%
Total debt
−81.7%

Quarter to September 2026, against a year earlier

144.13 8.90 −5.82%
Market cap
$184.9B
P/E
87.9×
Fwd P/E
97.3×
Dividend yield
—
F-score
6/9
Altman Z
75.00
Beneish M
−2.19
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Shopify Inc. (SHOP) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, Shopify Inc. (SHOP) trades at a EV/EBITDA of 86.7×. Over the past ten years it has ranged from 0.0× (June 2024) to 11,990× (December 2020); the current reading is higher than 67% of that period. That is above the Software Application industry median of 15.5× and above the Technology sector median of 14.5×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 136× 13.48%
FY2024 120× —
FY2023 0.0× —
FY2022 0.0× —
FY2021 493× (39.19%)
FY2020 811× —
FY2019 0.0× —
FY2018 0.0× —
FY2017 0.0× —
FY2016 0.0× —

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 89.3× 16.09%
Jun 2026 76.9× (14.00%)
Mar 2026 89.4× (34.43%)
Dec 2025 136× (3.60%)
43 more quarters

Against its own ten years

Low 0.0× High 11,990×
Ten-year median 0.0×
Current reading's percentile 67

EV/EBITDA against peers

Company EV/EBITDA
SNOW Snowflake Inc. compare n/m
ADBE Adobe Inc. compare 9.7×
CRM Salesforce, Inc. compare 14.4×
INTU Intuit Inc. compare 14.5×
ADP Automatic Data Processing, Inc. compare 16.3×
UBER Uber Technologies, Inc. compare 19.7×
SAP SAP SE compare 20.3×
NOW ServiceNow, Inc. compare 31.6×
SHOP Shopify Inc. 86.7×
Software Application industry median 15.5×
Technology sector median 14.5×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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