Shopify price to book ratio SHOP

Market value divided by the book value of the company's net assets, since 2025.

Today, Oct 23, 2026: 17.1×
Peer median: 12.9×

Shopify's price to book ratio is 17.1× as of Oct 23, 2026.

The median for 10 application software stocks of a similar size is 12.9×.

Price to book ratio over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	17.1×	10.4×	17.3×
2025	17.8×	8.6×	18.6×

Against its peers

Companies in Software - Application nearest Shopify's size, closest first, today.

Company	Price to book ratio
SHOPShopify	17.1×
CRMSalesforce	5.3×
NOWServiceNow	13.1×
UBERUber Technologies	5.0×
ADPAutomatic Data Processing	20.0×
SNOWSnowflake	53.4×
ADBEAdobe	8.7×
DDOGDatadog	22.2×
INTUIntuit	4.8×
CDNSCadence Design Systems	12.7×
APPAppLovin	27.5×
Peer median	12.9×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Shopify

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.