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

147.32 3.57 +2.48%

Follow SHOP

Alert me

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/S ratio

Alert me on P/S ratio

As of 5 November 2026, Shopify Inc. (SHOP) trades at a P/S ratio of 13.1×. Over the past ten years it has ranged from 5.4× (May 2015) to 64.8× (September 2020); the current reading is higher than 35% of that period. That is above the Software Application industry median of 3.0× and above the Technology sector median of 2.6×.

Embed this chart

Code for your page

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

Period	P/S ratio	Change
FY2025	18.1×	17.16%
FY2024	15.4×	15.24%
FY2023	13.4×	66.11%
FY2022	8.1×	(78.33%)
FY2021	37.2×	(19.42%)
FY2020	46.2×	62.26%
FY2019	28.5×	108.81%
FY2018	13.6×	(9.13%)
FY2017	15.0×	62.53%
FY2016	9.2×	19.01%

Period	P/S ratio	Change
Sep 2026	13.5×	20.87%
Jun 2026	11.1×	(10.85%)
Mar 2026	12.5×	(30.90%)
Dec 2025	18.1×	0.17%
43 more quarters	Free account

Against its own ten years

Low 5.4× High 64.8×

Ten-year median 15.4×

Current reading's percentile 33

Company	P/S ratio
UBER Uber Technologies, Inc. compare	2.5×
ADBE Adobe Inc. compare	3.7×
CRM Salesforce, Inc. compare	4.2×
INTU Intuit Inc. compare	4.6×
ADP Automatic Data Processing, Inc. compare	5.4×
SAP SAP SE compare	6.1×
NOW ServiceNow, Inc. compare	6.9×
SHOP Shopify Inc.	13.1×
SNOW Snowflake Inc. compare	17.4×
Software Application industry median	3.0×
Technology sector median	2.6×
Market median	1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

Shopify Inc. (SHOP) P/S ratio

P/S ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/S ratio against peers

What P/S ratio is

More on SHOP

P/S ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/S ratio against peers

What P/S ratio is

More on SHOP

Stockrow Weekly