Shopify (SHOP) Invested Capital (2023 - 2025)
Shopify's Invested Capital came in at $13.47 billion for Q4 2025, up 8.0% from $12.48 billion a year earlier and up 0.3% from the prior quarter.
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Analysis
Shopify (SHOP) Invested Capital (2023 - 2025) Analysis & Trends
Going back to Q4 2023, Shopify's Invested Capital data covers 6 quarters.
- Going back by year, Invested Capital was $12.48 billion in FY2024 (+37.6%) and $9.07 billion in FY2023.
- Business Quant data shows SHOP's Invested Capital at $13.43 billion (Q3 2025), $13.04 billion (Q2 2025) and $11.97 billion (Q1 2025) in the three quarters before Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn | 802.65 Bn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn | 353.31 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn | 44.42 Bn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn | 184.62 Bn |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn | - |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn | 44.24 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn | 6.81 Bn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn | - |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - | 9.65 Bn |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 13.47 Bn |
| Sep 30, 2025 | 13.43 Bn |
| Jun 30, 2025 | 13.04 Bn |
| Mar 31, 2025 | 11.97 Bn |
| Dec 31, 2024 | 12.48 Bn |
| Dec 31, 2023 | 9.07 Bn |
API Access
Shopify Invested Capital 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=invested-capital&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();