What is Shopify's asset turnover?

Shopify (SHOP) reported asset turnover of 0.9× in Q1 2026.

What does asset turnover mean?

How many sales dollars the company generates from each dollar of assets.

How do you interpret asset turnover?

Higher turnover means a more sales-efficient asset base. Low-margin businesses (retail, distribution) compete on high turnover; high-margin ones (software, luxury) on margin.

How does asset turnover compare across companies?

Compare within an industry — turnover differences across sectors reflect business models, not performance.

Shopify SHOP Asset turnover

Asset turnover at other companies

AdobeADBE

0.9×+0.1×

eBayEBAY

0.6×+0.1×

SalesforceCRM

0.4×0.0×

Global PaymentsGPN

0.2×0.0×

BlockXYZ

0.6×0.0×

Affirm Holdings, Inc.AFRM

0.3×0.0×

Other financials

Income statement

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Revenue$3.2B+34.3%

Gross profit$1.5B+32.3%

Operating income$382.0M+88.2%

Net income-$581.0M+14.8%

EPS (diluted)-$0.45+15.1%

Balance sheet

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Cash & equivalents$1.8B+41.2%

Total debt$179.0M-84.3%

Total equity$12.5B+13.1%

Total assets$14.1B+5.4%

Cash flow

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Operating cash flow$481.0M+31.1%

CapEx$5.0M+25.0%

Free cash flow$476.0M+31.1%

Valuation

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Market cap$140.26B+25.1%

Enterprise value$138.59B+23.9%

P/E105.3×+35.7×

P/S11.3×-0.6×

Profitability

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Gross margin48%-2.0pp

Operating margin13.3%+0.6pp

Net margin10.8%-6.4pp

Returns & leverage

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Return on equity11.3%-4.8pp

Debt / equity0×-0.1×

Current ratio6.2×+2.5×

Where this comes from

Calculated from Shopify’s reported figures.

total revenue/total assets=0.9×

Based on trailing twelve months.

The official record: Shopify’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Shopify's asset turnover?: Shopify (SHOP) reported asset turnover of 0.9× in Q1 2026.
What does asset turnover mean?: How many sales dollars the company generates from each dollar of assets.
How do you interpret asset turnover?: Higher turnover means a more sales-efficient asset base. Low-margin businesses (retail, distribution) compete on high turnover; high-margin ones (software, luxury) on margin.
How does asset turnover compare across companies?: Compare within an industry — turnover differences across sectors reflect business models, not performance.