Shopify (SHOP) EV to FCF (2024 - 2026)
Shopify's (SHOP) EV to FCF stood at 60.77 in Q2 2026, down 23.2% from 79.18 a year earlier and down 13.4% from the prior quarter.
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Analysis
Shopify (SHOP) EV to FCF (2024 - 2026) Analysis & Trends
On a TTM basis, Shopify's EV to FCF came in at 53.18 as of Jun 30, 2026, down 24.4% year-over-year; for FY2025, it was 101.30, up 22.9% from FY2024.
- Across earlier years, EV to FCF came in at 82.45 in FY2024 (-21.3%), 104.78 in FY2023 and 341.59 in FY2021 (-1.1%).
- Per Business Quant, the preceding three quarters came in at 70.22 (Q1 2026), 101.30 (Q4 2025) and 98.19 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,139.30 Bn | 3,896.82 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,802.48 Bn | 1,505.00 Bn | 49.47 Bn |
| 3 | Netflix | 295.38 Bn | 255.58 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 253.00 Bn | 66.78 Bn | 15.11 Bn |
| 5 | Shopify | 219.40 Bn | 196.59 Bn | 1.71 Bn |
| 6 | Uber Technologies | 143.37 Bn | 115.17 Bn | 6.38 Bn |
| 7 | Booking Holdings | 125.53 Bn | 58.58 Bn | - |
| 8 | PDD Holdings | 113.03 Bn | -130.74 Bn | 9.45 Bn |
| 9 | Spotify Technology | 108.69 Bn | 66.19 Bn | 1.86 Bn |
| 10 | Airbnb | 102.92 Bn | 56.15 Bn | 2.98 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 60.77 |
| Mar 31, 2026 | 70.22 |
| Dec 31, 2025 | 101.30 |
| Sep 30, 2025 | 98.19 |
| Jun 30, 2025 | 79.18 |
| Mar 31, 2025 | 68.38 |
| Dec 31, 2024 | 82.45 |
API Access
Shopify EV to FCF 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-fcf&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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-fcf&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();