Shopify Financial Ratios
NASDAQ: SHOPTechnologyComputer Software: Prepackaged SoftwareUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Shopify ratio analysis
Shopify earned a net margin of 10.7% in FY 2025, down from 22.7% a year earlier. Gross margin was 48.1% compared with a median of 53.8% over the prior 9 years. Return on equity reached 9.1%, meaning Shopify generated 0.09 dollars of profit for every dollar of shareholders' equity.
At the end of FY 2025, SHOP traded at 167.2 times earnings; across the 5 fiscal years shown, its year-end P/E ranged from 43.7 to 779.0, with a median of 70.5. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
Shopify financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2022 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 167.23 | 70.48 | 779.00 | — | 60.15 | 43.70 | — | — | — | — |
| Price / sales | 17.67 | 15.87 | 14.14 | 7.85 | 37.23 | 4.62 | 2.90 | 1.36 | 1.44 | 0.92 |
| Price / book | 15.16 | 12.19 | 11.01 | 5.33 | 15.42 | 2.11 | 1.52 | 0.70 | 0.97 | 0.88 |
| Gross margin | 48.1% | 50.4% | 49.8% | 49.2% | 53.8% | 52.6% | 54.9% | 55.6% | 56.5% | 53.8% |
| Operating margin | 12.7% | 12.1% | -20.1% | -14.7% | 5.8% | 3.1% | -8.9% | -8.6% | -7.3% | -9.5% |
| Net margin | 10.7% | 22.7% | 1.9% | -61.8% | 63.2% | 10.9% | -7.9% | -6.0% | -5.9% | -9.1% |
| Free cash flow margin | 17.4% | 18.0% | 12.8% | -3.3% | 10.5% | 13.1% | 0.9% | -1.7% | -1.8% | -2.5% |
| Return on equity (ROE) | 9.1% | 17.5% | 1.5% | -42.0% | 26.2% | 5.0% | -4.1% | -3.1% | -4.0% | -8.6% |
| Return on assets (ROA) | 8.1% | 14.5% | 1.2% | -32.2% | 21.8% | 4.1% | -3.6% | -2.9% | -3.6% | -7.2% |
| Current ratio | 5.96 | 3.71 | 6.99 | 7.07 | 12.15 | 15.69 | 8.67 | 15.35 | 10.82 | 6.36 |
| Revenue growth | 30.1% | 25.8% | 26.1% | 21.4% | 57.4% | 85.6% | 47.0% | 59.4% | 72.9% | 89.7% |
| EPS growth | -39.4% | 1,450.0% | — | -219.2% | -11.6% | — | — | — | — | — |