Sign up to access all valuation multiples
Shopify offers an e-commerce platform mainly to small and medium-sized businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
2004
7.6K+
LTM Revenue $11.7B
LTM EBITDA $2.0B
$152B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
As of February 2026, Shopify reported last 12-month revenue of $11.7B and EBITDA of $2.0B.
In the same period, Shopify generated $5.6B in LTM gross profit and $1.9B in net income.
See Shopify valuation multiples based on analyst estimatesIn the most recent fiscal year, Shopify reported revenue of $8.5B and EBITDA of $1.4B.
Shopify expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Shopify valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $11.7B | XXX | $8.5B | XXX | XXX | XXX |
| Gross Profit | $5.6B | XXX | $4.1B | XXX | XXX | XXX |
| Gross Margin | 48% | XXX | 48% | XXX | XXX | XXX |
| EBITDA | $2.0B | XXX | $1.4B | XXX | XXX | XXX |
| EBITDA Margin | 17% | XXX | 17% | XXX | XXX | XXX |
| EBIT | $1.9B | XXX | $1.4B | XXX | XXX | XXX |
| EBIT Margin | 17% | XXX | 16% | XXX | XXX | XXX |
| Net Profit | $1.9B | XXX | $902M | XXX | XXX | XXX |
| Net Margin | 16% | XXX | 11% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Shopify has current market cap of CAD 215B (or $158B), and EV of CAD 208B (or $152B).
As of March 3, 2026, Shopify's stock price is CAD 165 (or $121).
See Shopify trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $152B | $158B | XXX | XXX | XXX | XXX | $1.49 |
Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more
Start Free TrialShopify's trades at 13.0x EV/Revenue multiple, and 76.2x EV/EBITDA.
See valuation multiples for Shopify and 15K+ public compsAs of March 3, 2026, Shopify has market cap of $158B and EV of $152B.
Equity research analysts estimate Shopify's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Shopify has a P/E ratio of 84.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $158B | XXX | $158B | XXX | XXX | XXX |
| EV (current) | $152B | XXX | $152B | XXX | XXX | XXX |
| EV/Revenue | 13.0x | XXX | 13.0x | XXX | XXX | XXX |
| EV/EBITDA | 76.2x | XXX | 76.2x | XXX | XXX | XXX |
| EV/EBIT | 78.0x | XXX | 78.0x | XXX | XXX | XXX |
| EV/Gross Profit | 27.0x | XXX | n/a | XXX | XXX | XXX |
| P/E | 84.6x | XXX | 84.6x | XXX | XXX | XXX |
| EV/FCF | 74.5x | XXX | 74.5x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialShopify's last 12 month revenue growth is 24%
Shopify's revenue per employee in the last FY averaged $1.1M, while opex per employee averaged $0.4M for the same period.
Shopify's rule of 40 is 39% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Shopify's rule of X is 77% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Shopify and other 15K+ public comps| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 24% | XXX | 23% | XXX | XXX | XXX |
| EBITDA Margin | 17% | XXX | 17% | XXX | XXX | XXX |
| EBITDA Growth | 34% | XXX | 43% | XXX | XXX | XXX |
| Rule of 40 | 39% | XXX | 41% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 77% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $1.1M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.4M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 14% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 13% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 32% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Netbay | XXX | XXX | XXX | XXX | XXX | XXX |
| Infracommerce Caxaas | XXX | XXX | XXX | XXX | XXX | XXX |
| Locaweb | XXX | XXX | XXX | XXX | XXX | XXX |
| Intershop Communications | XXX | XXX | XXX | XXX | XXX | XXX |
| QPR Software | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Shopify acquired XXX companies to date.
Last acquisition by Shopify was XXXXXXXX, XXXXX XXXXX XXXXXX . Shopify acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 65K+ M&A deals.
Start Free Trial| When was Shopify founded? | Shopify was founded in 2004. |
| Where is Shopify headquartered? | Shopify is headquartered in Canada. |
| How many employees does Shopify have? | As of today, Shopify has 7.6K+ employees. |
| Who is the CEO of Shopify? | Shopify's CEO is Mr. Tobias Lutke. |
| Is Shopify publicy listed? | Yes, Shopify is a public company listed on TSE. |
| What is the stock symbol of Shopify? | Shopify trades under SHOP ticker. |
| When did Shopify go public? | Shopify went public in 2015. |
| Who are competitors of Shopify? | Similar companies to Shopify include e.g. Netbay, Infracommerce Caxaas, Locaweb, Intershop Communications. |
| What is the current market cap of Shopify? | Shopify's current market cap is $158B |
| What is the current revenue of Shopify? | Shopify's last 12 months revenue is $11.7B. |
| What is the current revenue growth of Shopify? | Shopify revenue growth (NTM/LTM) is 24%. |
| What is the current EV/Revenue multiple of Shopify? | Current revenue multiple of Shopify is 13.0x. |
| Is Shopify profitable? | Yes, Shopify is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Shopify? | Shopify's last 12 months EBITDA is $2.0B. |
| What is Shopify's EBITDA margin? | Shopify's last 12 months EBITDA margin is 17%. |
| What is the current EV/EBITDA multiple of Shopify? | Current EBITDA multiple of Shopify is 76.2x. |
| What is the current FCF of Shopify? | Shopify's last 12 months FCF is $2.0B. |
| What is Shopify's FCF margin? | Shopify's last 12 months FCF margin is 17%. |
| What is the current EV/FCF multiple of Shopify? | Current FCF multiple of Shopify is 74.5x. |
Get access to always up-to-date, precisely categorized 70K+ public and private valuation multiples, across tech and beyond.
