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) Price to free cash flow

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As of 5 November 2026, Shopify Inc. (SHOP) trades at a price to free cash flow of 69.7×. Over the past ten years it has ranged from 0.0× (June 2023) to 7,471× (February 2020); the current reading is higher than 50% of that period. That is above the Software Application industry median of 17.2× and above the Technology sector median of 18.7×.

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

Period	Price to free cash flow	Change
FY2025	104×	21.31%
FY2024	85.9×	(17.87%)
FY2023	105×	—
FY2022	0.0×	—
FY2021	354×	0.24%
FY2020	353×	(93.54%)
FY2019	5,468×	—
FY2018	0.0×	—
FY2017	0.0×	—
FY2016	0.0×	—

Period	Price to free cash flow	Change
Sep 2026	71.7×	14.06%
Jun 2026	62.9×	(13.78%)
Mar 2026	72.9×	(30.00%)
Dec 2025	104×	2.62%
43 more quarters	Free account

Against its own ten years

Low 0.0× High 7,471×

Ten-year median 68.8×

Current reading's percentile 50

Company	Price to free cash flow
ADBE Adobe Inc. compare	9.2×
INTU Intuit Inc. compare	11.3×
CRM Salesforce, Inc. compare	12.0×
UBER Uber Technologies, Inc. compare	13.4×
NOW ServiceNow, Inc. compare	22.5×
ADP Automatic Data Processing, Inc. compare	25.5×
SAP SAP SE compare	27.0×
SHOP Shopify Inc.	69.7×
SNOW Snowflake Inc. compare	79.4×
Software Application industry median	17.2×
Technology sector median	18.7×
Market median	14.1×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

Shopify Inc. (SHOP) Price to free cash flow

Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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