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%

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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 Segments Valuation Filings

Shopify Inc. (SHOP) EV/FCF

Alert me on EV/FCF

As of 5 November 2026, Shopify Inc. (SHOP) trades at a EV/FCF of 68.3×. Over the past ten years it has ranged from −5,614× (June 2019) to 7,191× (February 2020); the current reading is higher than 51% of that period.

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<iframe src="https://stockrow.com/embed/SHOP/ev-fcf" width="100%" height="360" style="border:0" loading="lazy" title="Shopify Inc. EV/FCF, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/SHOP/metrics/ev-fcf">Shopify Inc. (SHOP) EV/FCF — stockrow.com</a></p>

Period	EV/FCF	Change
FY2025	102×	21.83%
FY2024	83.6×	(16.45%)
FY2023	100×	—
FY2022	−220×	—
FY2021	341×	0.45%
FY2020	339×	(93.46%)
FY2019	5,188×	—
FY2018	−394×	—
FY2017	−561×	—
FY2016	−263×	—

Period	EV/FCF	Change
Sep 2026	70.4×	14.88%
Jun 2026	61.2×	(13.43%)
Mar 2026	70.7×	(30.55%)
Dec 2025	102×	2.71%
43 more quarters	Free account

Against its own ten years

Low −5,614× High 7,191×

Ten-year median 66.5×

Current reading's percentile 9

Company	EV/FCF
ADBE Adobe Inc. compare	9.2×
INTU Intuit Inc. compare	11.3×
UBER Uber Technologies, Inc. compare	14.1×
CRM Salesforce, Inc. compare	14.2×
NOW ServiceNow, Inc. compare	23.1×
ADP Automatic Data Processing, Inc. compare	26.1×
SAP SAP SE compare	27.0×
SHOP Shopify Inc.	68.3×
SNOW Snowflake Inc. compare	79.3×

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((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)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

Shopify Inc. (SHOP) EV/FCF

EV/FCF, daily

Annual newest first

Quarterly newest first

Against its own ten years

EV/FCF against peers

What EV/FCF is

More on SHOP

EV/FCF, daily

Annual newest first

Quarterly newest first

Against its own ten years

EV/FCF against peers

What EV/FCF is

More on SHOP

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