Stocktoria

SHOPIFY INC. SHOP

Nasdaq · stock · Services-Prepackaged Software · website · IPO 2015-05-21 · LEI

SHOPIFY INC. statistics & valuation

Market cap$151.6B
P / E123.2×
P / S13.1×
P / B11.3×
P / FCF75.6×
Net margin10.7%
Return on equity9.1%
FCF margin17.4%
Return on capital10.6%
Graham number -90.2%$14.78

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($14.78); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-5.90% -6.00% -7.90% 10.90% 63.20% -61.80% 1.90% 22.70% 10.70% 2016201720182019202020212022202320242025
Gross margin (%)
56.50% 55.60% 54.90% 52.60% 53.80% 49.20% 49.80% 50.40% 48.10% 2016201720182019202020212022202320242025
Operating margin (%)
-7.30% -8.60% -8.90% 3.10% 5.80% -14.70% -20.10% 12.10% 12.70% 2016201720182019202020212022202320242025
Return on equity (%)
-8.60% -4.00% -3.10% -4.10% 5.00% 26.20% -42.00% 1.50% 17.50% 9.10% 2016201720182019202020212022202320242025
Shares outstanding
1.13B 1.23B 1.27B 1.27B 1.30B 1.30B 1.30B 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-7.20% -3.60% -2.90% -3.60% 4.10% 21.80% -32.20% 1.20% 14.50% 8.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
-1.80% -1.70% 0.90% 13.10% 10.50% -3.30% 12.80% 18.00% 17.40% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
-$0.11 $0.26 $2.29 -$2.73 $0.10 $1.55 $0.94 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

SHOPIFY INC. trades at about 160× earnings — above its 10-year norm (10-year range 42.1×–800.7×, median 139.6×).

42.1× 800.7×

Shaded band = 10-year range (42.1×–800.7×); dot = today's 160×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin48.1%50.4%49.8%49.2%53.8%52.6%54.9%55.6%56.5%—
Operating margin12.7%12.1%-20.1%-14.7%5.8%3.1%-8.9%-8.6%-7.3%—
Net margin10.7%22.7%1.9%-61.8%63.2%10.9%-7.9%-6.0%-5.9%—
FCF margin17.4%18.0%12.8%-3.3%10.5%13.1%0.9%-1.7%-1.8%—
Return on assets8.1%14.5%1.2%-32.2%21.8%4.1%-3.6%-2.9%-3.6%-7.2%
Return on equity9.1%17.5%1.5%-42.0%26.2%5.0%-4.1%-3.1%-4.0%-8.6%
Current ratio5.963.716.997.0712.1515.698.6715.3510.826.36

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.