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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/Sales

Alert me on EV/Sales

As of 5 November 2026, Shopify Inc. (SHOP) trades at a EV/Sales of 12.8×. Over the past ten years it has ranged from 4.9× (February 2016) to 62.9× (September 2020); the current reading is higher than 38% of that period. That is above the Software Application industry median of 2.9× and above the Technology sector median of 2.6×.

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
Sep 2026 13.2× 21.74%
Jun 2026 10.9× (10.49%)
Mar 2026 12.1× (31.45%)
Dec 2025 17.7× 0.27%
43 more quarters

Against its own ten years

Low 4.9× High 62.9×
Ten-year median 14.5×
Current reading's percentile 35

EV/Sales against peers

Company EV/Sales
UBER Uber Technologies, Inc. compare 2.6×
ADBE Adobe Inc. compare 3.8×
INTU Intuit Inc. compare 4.5×
CRM Salesforce, Inc. compare 4.9×
ADP Automatic Data Processing, Inc. compare 5.6×
SAP SAP SE compare 6.1×
NOW ServiceNow, Inc. compare 7.1×
SHOP Shopify Inc. 12.8×
SNOW Snowflake Inc. compare 17.4×
Software Application industry median 2.9×
Technology sector median 2.6×
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)

The full definition of EV/Sales →

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