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Shopify SHOP Price / sales

Price / sales at other companies

Adobe logo
AdobeADBE
4.2×-3.6×
eBay logo
eBayEBAY
3.5×+0.5×
Salesforce logo
SalesforceCRM
3.4×-3.2×
Global Payments logo
Global PaymentsGPN
2.1×-1.0×
Block logo
BlockXYZ
1.5×+0.1×
Affirm Holdings, Inc. logo
Affirm Holdings, Inc.AFRM
3.8×-1.0×

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×

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 / equity-0.1×
Current ratio6.2×+2.5×

Where this comes from

Calculated from Shopify’s reported figures.

Based on the most recent quarter.

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 price / sales?
Shopify (SHOP) reported price / sales of 12.5× in Q1 2026.
How has Shopify's price / sales changed year-over-year?
Shopify's price / sales decreased by 5.1% year-over-year, from 13.2× to 12.5×.
What is the long-term trend for Shopify's price / sales?
Over 2 years (2023 to 2025), Shopify's price / sales has grown at a 15.4% compound annual growth rate (CAGR), from 48.2× to 64.2×.
What does price / sales mean?
How many dollars investors pay for each dollar of the company's annual sales.
How do you interpret price / sales?
Useful when earnings are negative or volatile (e.g. early-stage or cyclical firms). Only comparable across companies with similar margins — a sales dollar is worth more at a high-margin business.
How does price / sales compare across companies?
Best compared within a margin cohort; a software P/S and a retailer P/S are not directly comparable.