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. In the quarter to June 2026, revenue grew 33.7%, EPS grew 65.7%, free cash flow grew 55.0% and total debt fell 81.7%, each against the same quarter a year earlier. Member of the Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for three.
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Shopify Inc. (SHOP) EV/Sales
As of 16 October 2026, Shopify Inc. (SHOP) trades at a EV/Sales of 16.2×. Over the past ten years it has ranged from 4.9× (February 2016) to 62.9× (September 2020); the current reading is higher than 60% of that period. That is above the Software Application industry median of 2.6× and above the Technology sector median of 2.7×.
EV/Sales, daily
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Annual newest first
| Period | EV/Sales | Change |
|---|---|---|
| FY2025 | 17.7× | 17.66% |
| FY2024 | 15.0× | 17.23% |
| FY2023 | 12.8× | 74.91% |
| FY2022 | 7.3× | (79.52%) |
| FY2021 | 35.8× | (19.25%) |
| FY2020 | 44.3× | 64.10% |
| FY2019 | 27.0× | 128.51% |
| FY2018 | 11.8× | (13.30%) |
| FY2017 | 13.6× | 65.13% |
| FY2016 | 8.3× | 19.97% |
Quarterly newest first
| Period | EV/Sales | Change |
|---|---|---|
| Jun 2026 | 10.9× | (10.49%) |
| Mar 2026 | 12.1× | (31.45%) |
| Dec 2025 | 17.7× | 0.27% |
| Sep 2025 | 17.6× | 21.24% |
| 42 more quarters | Free account |
Against its own ten years
EV/Sales against peers
| Company | EV/Sales |
|---|---|
| UBER Uber Technologies, Inc. compare | 2.7× |
| ADBE Adobe Inc. compare | 3.8× |
| CRM Salesforce, Inc. compare | 5.2× |
| ADP Automatic Data Processing, Inc. compare | 5.4× |
| SAP SAP SE compare | 5.8× |
| NOW ServiceNow, Inc. compare | 10.1× |
| SHOP Shopify Inc. | 16.2× |
| SNOW Snowflake Inc. compare | 19.6× |
| DDOG Datadog, Inc. compare | 21.2× |
| Software Application industry median | 2.6× |
| Technology sector median | 2.7× |
| Market median | 2.1× |
What EV/Sales is
EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.
((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)) ÷ Revenue (TTM)