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Shopify (SHOP) Ratios
Shopify Ratios
TSE:SHOP's free cash flow for Q2 2026 was $654.00M. For the 2026 fiscal year, TSE:SHOP's free cash flow was decreased by $-4.00M and operating cash flow was $658.00M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 5.96 | 3.71 | 6.99 | 7.07 | 12.15 |
| Quick Ratio | 5.94 | 3.70 | 6.99 | 7.07 | 12.15 |
| Cash Ratio | 1.10 | 0.77 | 1.57 | 1.93 | 3.56 |
| Solvency Ratio | 0.75 | 0.87 | 0.09 | -1.34 | 1.35 |
| Operating Cash Flow Ratio | 1.49 | 0.83 | 1.05 | -0.16 | 0.72 |
| Short-Term Operating Cash Flow Coverage | 0.00 | 1.76 | 0.00 | 0.00 | 0.00 |
| Net Current Asset Value | $ 6.58B | $ 4.89B | $ 4.04B | $ 3.53B | $ 6.33B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.01 | 0.08 | 0.10 | 0.13 | 0.09 |
| Debt-to-Equity Ratio | 0.01 | 0.10 | 0.13 | 0.17 | 0.11 |
| Debt-to-Capital Ratio | 0.01 | 0.09 | 0.11 | 0.14 | 0.10 |
| Long-Term Debt-to-Capital Ratio | 0.00 | 0.00 | 0.09 | 0.10 | 0.08 |
| Financial Leverage Ratio | 1.13 | 1.20 | 1.25 | 1.31 | 1.20 |
| Debt Service Coverage Ratio | 0.00 | 1.17 | 0.00 | 0.00 | 2592.64 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 233.60 |
| Debt to Market Cap | 0.00 | 0.01 | 0.01 | 0.02 | 0.01 |
| Interest Debt Per Share | 0.14 | 0.87 | 0.90 | 1.10 | 0.94 |
| Net Debt to EBITDA | -0.69 | -0.29 | 32.88 | 0.66 | -0.41 |
| Profitability Margins | |||||
| Gross Profit Margin | 47.88% | 50.36% | 49.79% | 49.18% | 53.80% |
| EBIT Margin | 16.36% | 14.04% | -1.10% | -14.68% | 68.12% |
| EBITDA Margin | 16.63% | 14.45% | -0.11% | -6.84% | 69.55% |
| Operating Profit Margin | 16.36% | 12.11% | 3.68% | -14.68% | 5.83% |
| Pretax Profit Margin | 13.06% | 25.09% | 2.62% | -64.70% | 68.10% |
| Net Profit Margin | 10.65% | 22.74% | 1.87% | -61.79% | 63.20% |
| Continuous Operations Profit Margin | 10.65% | 22.74% | 1.87% | -61.79% | 63.20% |
| Net Income Per EBT | 81.58% | 90.62% | 71.35% | 95.50% | 92.81% |
| EBT Per EBIT | 79.80% | 207.26% | 71.15% | 440.75% | 1169.06% |
| Return on Assets (ROA) | 8.25% | 14.50% | 1.17% | -32.16% | 21.85% |
| Return on Equity (ROE) | 9.30% | 17.47% | 1.46% | -42.00% | 26.18% |
| Return on Capital Employed (ROCE) | 13.95% | 8.98% | 2.50% | -8.30% | 2.13% |
| Return on Invested Capital (ROIC) | 11.36% | 7.55% | 1.78% | -7.91% | 1.97% |
| Return on Tangible Assets | 8.54% | 15.01% | 1.22% | -40.56% | 22.69% |
| Earnings Yield | 0.60% | 1.47% | 0.13% | -7.88% | 1.70% |
| Efficiency Ratios | |||||
| Receivables Turnover | 4.96 | 5.37 | 6.11 | 6.33 | 6.71 |
| Payables Turnover | 10.75 | 12.24 | 9.74 | 7.82 | 7.50 |
| Inventory Turnover | 291.83 | 169.54 | 0.00 | 0.00 | 0.00 |
| Fixed Asset Turnover | 83.39 | 63.43 | 48.03 | 11.52 | 15.28 |
| Asset Turnover | 0.77 | 0.64 | 0.62 | 0.52 | 0.35 |
| Working Capital Turnover Ratio | 1.93 | 1.66 | 1.34 | 0.86 | 0.65 |
| Cash Conversion Cycle | 40.87 | 40.37 | 22.24 | 11.00 | 5.74 |
| Days of Sales Outstanding | 73.57 | 68.03 | 59.71 | 57.68 | 54.39 |
| Days of Inventory Outstanding | 1.25 | 2.15 | 0.00 | 0.00 | 0.00 |
| Days of Payables Outstanding | 33.95 | 29.81 | 37.48 | 46.68 | 48.65 |
| Operating Cycle | 74.82 | 70.18 | 59.71 | 57.68 | 54.39 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 1.59 | 1.25 | 0.74 | -0.11 | 0.40 |
| Free Cash Flow Per Share | 1.57 | 1.24 | 0.71 | -0.15 | 0.36 |
| Dividend Paid and CapEx Coverage Ratio | 78.19 | 85.05 | 24.21 | -2.72 | 9.93 |
| Capital Expenditure Coverage Ratio | 78.19 | 85.05 | 24.21 | -2.72 | 9.93 |
| Operating Cash Flow Coverage Ratio | 11.00 | 1.44 | 0.82 | -0.10 | 0.43 |
| Operating Cash Flow to Sales Ratio | 0.18 | 0.18 | 0.13 | -0.02 | 0.11 |
| Free Cash Flow Yield | 0.98% | 1.16% | 0.91% | -0.42% | 0.26% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 167.64 | 67.72 | 755.08 | -12.69 | 58.89 |
| Price-to-Sales (P/S) Ratio | 17.78 | 15.44 | 14.12 | 7.84 | 37.22 |
| Price-to-Book (P/B) Ratio | 15.52 | 11.86 | 10.99 | 5.33 | 15.42 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 102.37 | 85.86 | 110.13 | -236.09 | 378.39 |
| Price-to-Operating Cash Flow Ratio | 101.06 | 84.85 | 105.58 | -322.89 | 340.29 |
| Price-to-Earnings Growth (PEG) Ratio | -4.31 | 0.05 | -7.28 | 0.06 | 0.08 |
| Enterprise Value Multiple | 106.23 | 106.59 | -12425.97 | -114.00 | 53.10 |
| Enterprise Value | 207.70B | 136.75B | 99.41B | 43.66B | 170.32B |
| EV to EBITDA | 106.23 | 106.59 | -12425.97 | -114.00 | 53.10 |
| EV to Sales | 17.66 | 15.40 | 14.08 | 7.80 | 36.93 |
| EV to Free Cash Flow | 101.71 | 85.63 | 109.84 | -234.73 | 375.46 |
| EV to Operating Cash Flow | 100.41 | 84.62 | 105.30 | -321.03 | 337.66 |
| Tangible Book Value Per Share | 9.97 | 8.59 | 6.72 | 4.75 | 8.53 |
| Shareholders’ Equity Per Share | 10.37 | 8.96 | 7.07 | 6.51 | 8.93 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.18 | 0.09 | 0.29 | 0.04 | 0.07 |
| Revenue Per Share | 9.05 | 6.88 | 5.51 | 4.42 | 3.70 |
| Net Income Per Share | 0.96 | 1.57 | 0.10 | -2.73 | 2.34 |
| Tax Burden | 0.82 | 0.91 | 0.71 | 0.96 | 0.93 |
| Interest Burden | 0.80 | 1.79 | -2.37 | 4.41 | 1.00 |
| Research & Development to Revenue | 0.13 | 0.15 | 0.25 | 0.27 | 0.19 |
| SG&A to Revenue | 0.18 | 0.20 | 0.07 | 0.13 | 0.08 |
| Stock-Based Compensation to Revenue | 0.04 | 0.05 | 0.09 | 0.10 | 0.07 |
| Income Quality | 1.65 | 0.80 | 7.15 | 0.04 | 0.17 |
Currency in USD
