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) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Shopify Inc. (SHOP) trades at a P/B ratio of 14.5×. Over the past ten years it has ranged from 0.0× (June 2015) to 35.4× (June 2020); the current reading is higher than 70% of that period. That is above the Software Application industry median of 2.6× and above the Technology sector median of 2.5×.

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

Period	P/B ratio	Change
FY2025	15.5×	30.79%
FY2024	11.9×	13.70%
FY2023	10.4×	90.32%
FY2022	5.5×	(64.44%)
FY2021	15.4×	(27.07%)
FY2020	21.1×	41.91%
FY2019	14.9×	112.88%
FY2018	7.0×	(30.65%)
FY2017	10.1×	15.25%
FY2016	8.8×	7.42%

Period	P/B ratio	Change
Sep 2026	15.0×	28.39%
Jun 2026	11.7×	(5.72%)
Mar 2026	12.4×	(20.31%)
Dec 2025	15.5×	0.50%
43 more quarters	Free account

Against its own ten years

Low 0.0× High 35.4×

Ten-year median 11.5×

Current reading's percentile 68

Company	P/B ratio
CRM Salesforce, Inc. compare	4.8×
UBER Uber Technologies, Inc. compare	4.9×
INTU Intuit Inc. compare	5.1×
SAP SAP SE compare	5.2×
NOW ServiceNow, Inc. compare	8.1×
ADBE Adobe Inc. compare	8.2×
SHOP Shopify Inc.	14.5×
ADP Automatic Data Processing, Inc. compare	23.8×
SNOW Snowflake Inc. compare	44.0×
Software Application industry median	2.6×
Technology sector median	2.5×
Market median	1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

Shopify Inc. (SHOP) P/B ratio

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on SHOP

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on SHOP

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