Shopify (SHOP) Asset Utilization Ratio (2025 - 2026)
Shopify's (SHOP) Asset Utilization Ratio stood at 0.93 in Q2 2026, up 29.6% from 0.72 a year earlier and up 10.0% from the prior quarter.
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Analysis
Shopify (SHOP) Asset Utilization Ratio (2025 - 2026) Analysis & Trends
For FY2025, Shopify's Asset Utilization Ratio came in at 0.79, up 12.7% from FY2024.
- Annual Asset Utilization Ratio has increased for four straight years.
- Across earlier years, Asset Utilization Ratio came in at 0.70 in FY2024 (+10.0%), 0.64 in FY2023 (+37.7%), 0.46 in FY2022 (+6.3%) and 0.44 in FY2021 (-16.1%).
- Per Business Quant, the preceding three quarters came in at 0.84 (Q1 2026), 0.76 (Q4 2025) and 0.72 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Asset Util. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,139.30 Bn | 3,896.82 Bn | 73.85 Bn | 0.55 |
| 2 | Meta Platforms | 1,802.48 Bn | 1,505.00 Bn | 49.47 Bn | 0.54 |
| 3 | Netflix | 295.38 Bn | 255.58 Bn | 6.52 Bn | 0.81 |
| 4 | Alibaba Group Holding | 253.00 Bn | 66.78 Bn | 15.11 Bn | 0.53 |
| 5 | Shopify | 219.40 Bn | 196.59 Bn | 1.71 Bn | 0.93 |
| 6 | Uber Technologies | 143.37 Bn | 115.17 Bn | 6.38 Bn | 0.88 |
| 7 | Booking Holdings | 125.53 Bn | 58.58 Bn | - | 0.98 |
| 8 | PDD Holdings | 113.03 Bn | -130.74 Bn | 9.45 Bn | 0.68 |
| 9 | Spotify Technology | 108.69 Bn | 66.19 Bn | 1.86 Bn | 1.37 |
| 10 | Airbnb | 102.92 Bn | 56.15 Bn | 2.98 Bn | 0.47 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.93 |
| Mar 31, 2026 | 0.84 |
| Dec 31, 2025 | 0.76 |
| Sep 30, 2025 | 0.72 |
| Jun 30, 2025 | 0.72 |
| Mar 31, 2025 | 0.69 |
API Access
Shopify Asset Utilization Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=asset-utilization-ratio&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "asset-utilization-ratio", "ticker": "SHOP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=asset-utilization-ratio&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();