Shopify (SHOP) EV to EBITDA (2024 - 2026)
Shopify (SHOP) posted EV to EBITDA of 292.91 for Q2 2026, down 24.83% on a QoQ basis from 389.69 in Q1 2026, and down 40.76% year-over-year from 494.42 in Q2 2025.
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Analysis
Shopify (SHOP) EV to EBITDA (2024 - 2026) Analysis & Trends
Shopify has reported EV to EBITDA for 3 years, with the latest figure at 292.91 in Q2 2026.
- On a quarterly basis, EV to EBITDA fell 40.76% year-over-year to 292.91 in Q2 2026; TTM through Jun 2026 was 77.52, a 33.08% decrease from a year earlier, with the FY2025 full-year figure at 138.5, up 13.08% from the prior year.
- EV to EBITDA was 292.91 for Q2 2026 at Shopify, down from 389.69 in the prior quarter.
- The five-year high for EV to EBITDA was 1155.87 in Q1 2024, with the low at 283.15 in Q4 2024.
- Average EV to EBITDA over 3 years is 478.44, with a median of 377.74 recorded in 2024.
- The largest YoY upside for EV to EBITDA was 48.93% in 2025 against a maximum downside of 49.64% in 2025.
- Over 3 years, EV to EBITDA stood at 283.15 in 2024, then grew by 13.79% to 322.21 in 2025, then decreased by 9.09% to 292.91 in 2026.
- The last three EV to EBITDA figures came in at 292.91 (Q2 2026), 389.69 (Q1 2026), and 322.21 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 254.92 Bn | 72.79 Bn | 15.11 Bn |
| 5 | Shopify | 184.25 Bn | 161.43 Bn | 1.71 Bn |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - |
| 8 | PDD Holdings | 110.41 Bn | -141.52 Bn | 9.45 Bn |
| 9 | Spotify Technology | 104.89 Bn | 62.12 Bn | 1.86 Bn |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 76.32 |
| Mar 31, 2026 | 88.77 |
| Dec 31, 2025 | 135.63 |
| Sep 30, 2025 | 140.07 |
| Jun 30, 2025 | 112.93 |
| Mar 31, 2025 | 96.39 |
| Dec 31, 2024 | 118.51 |
API Access
Shopify EV to EBITDA 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=ev-to-ebitda&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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=ev-to-ebitda&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();