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Shopify (SHOP)
NASDAQ:SHOP
US Market
SHOP
Shopify
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Shopify (SHOP) Ratios

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Shopify Ratios

SHOP's free cash flow for Q4 2025 was $0.46. For the 2025 fiscal year, SHOP's free cash flow was decreased by $ and operating cash flow was $0.20. See a summary of the company’s cash flow.
Ratios
TTM
Dec 25Dec 24Dec 23Dec 22
Liquidity Ratios
Current Ratio
 5.96 5.92 3.71 6.99 7.07
Quick Ratio
 5.94 5.91 3.70 6.99 7.07
Cash Ratio
 1.10 1.11 0.77 1.57 1.93
Solvency Ratio
 0.74 0.75 0.87 0.09 -1.34
Operating Cash Flow Ratio
 1.47 1.49 0.83 1.05 -0.16
Short-Term Operating Cash Flow Coverage
 0.00 121.90 1.76 0.00 0.00
Net Current Asset Value
$ 6.58B$ 6.52B$ 4.89B$ 4.04B$ 3.53B
Leverage Ratios
Debt-to-Assets Ratio
 0.01 0.02 0.08 0.10 0.13
Debt-to-Equity Ratio
 0.01 0.03 0.10 0.13 0.17
Debt-to-Capital Ratio
 0.01 0.03 0.09 0.11 0.14
Long-Term Debt-to-Capital Ratio
 0.00 0.01 0.00 0.09 0.10
Financial Leverage Ratio
 1.13 1.13 1.20 1.25 1.31
Debt Service Coverage Ratio
 0.00 98.58 1.17 0.00 0.00
Interest Coverage Ratio
 0.00 0.00 0.00 0.00 0.00
Debt to Market Cap
 0.00 <0.01 <0.01 <0.01 0.02
Interest Debt Per Share
 0.14 0.28 0.87 0.90 1.10
Net Debt to EBITDA
 -0.90 -0.61 -0.29 32.88 0.66
Profitability Margins
Gross Profit Margin
48.07%47.88%50.36%49.79%49.18%
EBIT Margin
12.70%16.36%14.04%-1.10%-14.68%
EBITDA Margin
12.97%16.63%14.45%-0.11%-6.84%
Operating Profit Margin
12.70%16.36%12.11%3.68%-14.68%
Pretax Profit Margin
13.06%13.06%25.09%2.62%-64.70%
Net Profit Margin
10.65%10.65%22.74%1.87%-61.79%
Continuous Operations Profit Margin
10.65%10.65%22.74%1.87%-61.79%
Net Income Per EBT
81.58%81.58%90.62%71.35%95.50%
EBT Per EBIT
102.79%79.80%207.26%71.15%440.75%
Return on Assets (ROA)
8.10%8.26%14.50%1.17%-32.16%
Return on Equity (ROE)
10.01%9.31%17.47%1.46%-42.00%
Return on Capital Employed (ROCE)
10.64%13.97%8.98%2.50%-8.30%
Return on Invested Capital (ROIC)
8.67%11.38%7.55%1.78%-7.91%
Return on Tangible Assets
8.39%8.55%15.01%1.22%-40.56%
Earnings Yield
0.78%0.60%1.47%0.13%-7.88%
Efficiency Ratios
Receivables Turnover
 4.88 5.08 5.37 6.11 6.33
Payables Turnover
 10.53 10.77 12.24 9.74 7.82
Inventory Turnover
 285.76 292.36 169.54 0.00 0.00
Fixed Asset Turnover
 81.96 83.54 63.43 48.03 11.52
Asset Turnover
 0.76 0.78 0.64 0.62 0.52
Working Capital Turnover Ratio
 1.73 1.94 1.66 1.34 0.86
Cash Conversion Cycle
 41.47 39.19 40.37 22.24 11.00
Days of Sales Outstanding
 74.86 71.82 68.03 59.71 57.68
Days of Inventory Outstanding
 1.28 1.25 2.15 0.00 0.00
Days of Payables Outstanding
 34.67 33.89 29.81 37.48 46.68
Operating Cycle
 76.13 73.07 70.18 59.71 57.68
Cash Flow Ratios
Operating Cash Flow Per Share
 1.57 1.59 1.25 0.74 -0.11
Free Cash Flow Per Share
 1.55 1.57 1.24 0.71 -0.15
CapEx Per Share
 0.02 0.02 0.01 0.03 0.04
Free Cash Flow to Operating Cash Flow
 0.99 0.99 0.99 0.96 1.37
Dividend Paid and CapEx Coverage Ratio
 78.10 78.19 85.05 24.21 -2.72
Capital Expenditure Coverage Ratio
 78.10 78.19 85.05 24.21 -2.72
Operating Cash Flow Coverage Ratio
 10.86 5.77 1.44 0.82 -0.10
Operating Cash Flow to Sales Ratio
 0.18 0.18 0.18 0.13 -0.02
Free Cash Flow Yield
1.28%0.98%1.16%0.91%-0.42%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
 134.72 166.89 67.92 755.08 -12.69
Price-to-Sales (P/S) Ratio
 14.37 17.78 15.44 14.12 7.84
Price-to-Book (P/B) Ratio
 12.31 15.54 11.86 10.99 5.33
Price-to-Free Cash Flow (P/FCF) Ratio
 82.43 102.37 85.86 110.13 -236.09
Price-to-Operating Cash Flow Ratio
 81.25 101.06 84.85 105.58 -322.89
Price-to-Earnings Growth (PEG) Ratio
 -3.45 -4.30 0.05 -7.28 0.06
Price-to-Fair Value
 12.31 15.54 11.86 10.99 5.33
Enterprise Value Multiple
 109.91 106.29 106.59 -12.43K -114.00
Enterprise Value
 156.41B 207.86B 136.75B 99.41B 43.66B
EV to EBITDA
 104.34 106.29 106.59 -12.43K -114.00
EV to Sales
 13.54 17.68 15.40 14.08 7.80
EV to Free Cash Flow
 77.63 101.79 85.63 109.84 -234.73
EV to Operating Cash Flow
 76.63 100.48 84.62 105.30 -321.03
Tangible Book Value Per Share
 9.97 9.95 8.59 6.72 4.75
Shareholders’ Equity Per Share
 10.37 10.35 8.96 7.07 6.51
Tax and Other Ratios
Effective Tax Rate
 0.18 0.18 0.09 0.29 0.04
Revenue Per Share
 8.90 9.05 6.88 5.51 4.42
Net Income Per Share
 0.95 0.96 1.57 0.10 -2.73
Tax Burden
 0.82 0.82 0.91 0.71 0.96
Interest Burden
 1.03 0.80 1.79 -2.37 4.41
Research & Development to Revenue
 0.13 0.13 0.15 0.25 0.27
SG&A to Revenue
 0.18 0.18 0.20 0.07 0.13
Stock-Based Compensation to Revenue
 0.03 0.00 0.05 0.09 0.10
Income Quality
 1.64 1.65 0.80 7.15 0.04
Currency in USD