Shopify (SHOP) Market Capitalization (2015 - 2026)
Shopify's Market Capitalization came in at $147.89 billion for Q2 2026, down 1.2% from $149.7 billion a year earlier and down 4.3% from the prior quarter.
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Analysis
Shopify (SHOP) Market Capitalization (2015 - 2026) Analysis & Trends
For FY2025, Shopify's Market Capitalization was $209.09 billion, up 52.5% from FY2024.
- Market Capitalization has increased in each of the last three years, with a five-year compound annual growth rate of 8.6% (FY2020 to FY2025).
- Going back by year, Market Capitalization was $137.15 billion in FY2024 (+37.4%), $99.83 billion in FY2023 (+127.1%), $43.95 billion in FY2022 (-74.7%) and $173.41 billion in FY2021 (+25.0%).
- The Q2 2026 figure represents the lowest quarterly Market Capitalization since Q1 2025.
- Year-over-year, Market Capitalization increased in six of the last seven quarters, with growth averaging 42.9%.
- The fastest year-over-year change in Market Capitalization over five years came in Q4 2023 (growth of 127.1%), and the weakest in Q4 2022 (a decline of 74.7%).
- Business Quant data shows SHOP's Market Capitalization at $154.6 billion (Q1 2026), $209.09 billion (Q4 2025) and $193.2 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,248.48 Bn | 4,006.00 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,873.50 Bn | 1,576.02 Bn | 49.47 Bn |
| 3 | Netflix | 304.25 Bn | 264.45 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 257.83 Bn | 71.60 Bn | 15.11 Bn |
| 5 | Shopify | 230.63 Bn | 207.82 Bn | 1.71 Bn |
| 6 | Uber Technologies | 145.10 Bn | 116.90 Bn | 6.38 Bn |
| 7 | Booking Holdings | 127.39 Bn | 60.44 Bn | - |
| 8 | PDD Holdings | 115.26 Bn | -128.52 Bn | 9.45 Bn |
| 9 | Spotify Technology | 109.42 Bn | 66.92 Bn | 1.86 Bn |
| 10 | Airbnb | 103.26 Bn | 56.49 Bn | 2.98 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 147.89 Bn |
| Mar 31, 2026 | 154.60 Bn |
| Dec 31, 2025 | 209.09 Bn |
| Sep 30, 2025 | 193.20 Bn |
| Jun 30, 2025 | 149.70 Bn |
| Mar 31, 2025 | 123.68 Bn |
| Dec 31, 2024 | 137.15 Bn |
| Sep 30, 2024 | 103.52 Bn |
| Jun 30, 2024 | 85.19 Bn |
| Mar 31, 2024 | 99.40 Bn |
| Dec 31, 2023 | 99.83 Bn |
| Dec 31, 2022 | 43.95 Bn |
| Dec 31, 2021 | 173.41 Bn |
| Dec 31, 2020 | 138.69 Bn |
| Dec 31, 2019 | 46.29 Bn |
| Dec 31, 2018 | 15.29 Bn |
| Dec 31, 2017 | 10.09 Bn |
| Dec 31, 2016 | 3.84 Bn |
| Dec 31, 2015 | 2.07 Bn |
API Access
Shopify Market Capitalization 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=market-capitalization&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "market-capitalization", "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=market-capitalization&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();