Shopify (SHOP) Price to Book (2015 - 2026)
Shopify's (SHOP) Price to Book was 11.66 for Q2 2026, down 5.6% from 12.35 a year earlier and down 5.7% 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%).
- The Q2 2026 figure ranks as the lowest quarterly Price to Book since Q1 2025.
- Year over year, Price to Book gained in six of the last seven quarters, with growth averaging 18.2%.
- 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 Q2 2026 came in at 12.37 (Q1 2026), 15.52 (Q4 2025) and 15.44 (Q3 2025).
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 | 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();