Shopify (SHOP) Enterprise Value (2015 - 2026)
Shopify (SHOP) recorded Enterprise Value of $186.12 billion in Q3 2026, down 0.4% from $186.85 billion a year earlier but up 30.2% from the prior quarter.
Powered by 
Analysis
Shopify (SHOP) Enterprise Value (2015 - 2026) Analysis & Trends
On a TTM basis, Shopify's Enterprise Value came in at $169.65 billion as of Sep 30, 2026, down 0.2% year-over-year; for FY2025, it was $203.31 billion, up 54.4% from FY2024.
- Annual Enterprise Value has increased for three straight years, with a five-year compound annual growth rate of 9.0% (FY2020 to FY2025).
- Across earlier years, Enterprise Value came in at $131.67 billion in FY2024 (+38.9%), $94.83 billion in FY2023 (+143.8%), $38.9 billion in FY2022 (-76.5%) and $165.64 billion in FY2021 (+25.2%).
- Quarterly Enterprise Value has ranged from $38.9 billion in Q4 2022 to $203.31 billion in Q4 2025 over the past five years.
- On a year-over-year basis, Enterprise Value rose in six of the last eight quarters, with growth averaging 35.8%.
- Peak year-over-year performance for Enterprise Value in the last five years was growth of 143.8% in Q4 2023, against a decline of 76.5% in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $142.94 billion (Q2 2026), $148.86 billion (Q1 2026) and $203.31 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 186.12 Bn |
| Jun 30, 2026 | 142.94 Bn |
| Mar 31, 2026 | 148.86 Bn |
| Dec 31, 2025 | 203.31 Bn |
| Sep 30, 2025 | 186.85 Bn |
| Jun 30, 2025 | 143.88 Bn |
| Mar 31, 2025 | 118.17 Bn |
| Dec 31, 2024 | 131.67 Bn |
| Sep 30, 2024 | 103.52 Bn |
| Jun 30, 2024 | 85.19 Bn |
| Mar 31, 2024 | 99.40 Bn |
| Dec 31, 2023 | 94.83 Bn |
| Dec 31, 2022 | 38.90 Bn |
| Dec 31, 2021 | 165.64 Bn |
| Dec 31, 2020 | 132.30 Bn |
| Dec 31, 2019 | 43.84 Bn |
| Dec 31, 2018 | 13.32 Bn |
| Dec 31, 2017 | 9.15 Bn |
| Dec 31, 2016 | 3.44 Bn |
| Dec 31, 2015 | 1.88 Bn |
API Access
Shopify Enterprise Value 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=enterprise-value&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "enterprise-value", "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=enterprise-value&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();