Shopify (SHOP) Price to Book (2015 - 2026)
Shopify's (SHOP) Price to Book was 14.97 for Q3 2026, down 3.1% from 15.44 a year earlier but up 28.4% from the prior quarter.
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Analysis
Shopify (SHOP) Price to Book (2015 - 2026) Analysis & Trends
For FY2025, Price to Book at Shopify was 15.52, up 30.8% from FY2024.
- Price to Book has increased for three consecutive years.
- By year, Price to Book came in at 11.87 in FY2024 (+7.8%), 11.01 in FY2023 (+106.4%), 5.33 in FY2022 (-65.8%) and 15.58 in FY2021 (-28.1%).
- Five-year quarterly Price to Book spans a low of 5.33 in Q4 2022 and a high of 15.58 in Q4 2021.
- Year over year, Price to Book gained in six of the last eight quarters, with growth averaging 15.6%.
- The high point for year-over-year Price to Book in five years was Q4 2023 (growth of 106.4%); the low point was Q4 2022 (a decline of 65.8%).
- Per Business Quant data, the three quarters before Q3 2026 came in at 11.66 (Q2 2026), 12.37 (Q1 2026) and 15.52 (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 | 14.97 |
| Jun 30, 2026 | 11.66 |
| Mar 31, 2026 | 12.37 |
| Dec 31, 2025 | 15.52 |
| Sep 30, 2025 | 15.44 |
| Jun 30, 2025 | 12.35 |
| Mar 31, 2025 | 11.19 |
| Dec 31, 2024 | 11.87 |
| Sep 30, 2024 | 10.23 |
| Jun 30, 2024 | 9.29 |
| Mar 31, 2024 | 11.18 |
| Dec 31, 2023 | 11.01 |
| Dec 31, 2022 | 5.33 |
| Dec 31, 2021 | 15.58 |
| Dec 31, 2020 | 21.67 |
| Dec 31, 2019 | 15.35 |
| Dec 31, 2018 | 7.31 |
| Dec 31, 2017 | 10.08 |
| Dec 31, 2016 | 9.34 |
| Dec 31, 2015 | 10.58 |
API Access
Shopify Price to Book 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=price-to-book&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();