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Shopify SHOP Debt-to-equity

Debt-to-equity at other companies

Adobe logo
AdobeADBE
0.6×0.0×
eBay logo
eBayEBAY
1.8×+0.2×
Salesforce logo
SalesforceCRM
1.2×+1.0×
Global Payments logo
Global PaymentsGPN
0.9×+0.2×
Block logo
BlockXYZ
0.3×0.0×
GoDaddy logo
GoDaddyGDDY
16.2×-3.2×

Other financials

Income statement

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Revenue$3.2B+34.3%
Gross profit$1.5B+32.2%
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$152.02B-6.4%
Enterprise value$150.35B-7.2%
P/E114.1×+44.9×
P/S12.3×-3.9×

Profitability

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Gross margin48%-2.0pp
Operating margin13.3%+0.6pp
Net margin10.8%-6.4pp
FCF margin17.1%-1.3pp

Returns & leverage

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Return on equity11.3%-4.8pp
Current ratio6.2×+2.5×

Where this comes from

Calculated from Shopify’s reported figures.

Based on the most recent quarter.

The source filing: Shopify’s 10-Q, filed May 5, 2026. Open the filing →

Filed
May 5, 2026, 7:19 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001594805-26-000019

FAQ

What is Shopify's debt-to-equity?
Shopify (SHOP) reported debt-to-equity of 0× in Q1 2026.
How has Shopify's debt-to-equity changed year-over-year?
Shopify's debt-to-equity decreased by 86.1% year-over-year, from 0.1× to 0×.
What is the long-term trend for Shopify's debt-to-equity?
Over 2 years (2023 to 2025), Shopify's debt-to-equity has grown at a -26.3% compound annual growth rate (CAGR), from 0× to 0×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

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