Shopify (SHOP) - P/B ratio

P/B ratio as of January 2026 : 17.4

According to Shopify's latest financial reports the company has a price-to-book ratio of 20.3796.
The price-to-book ratio is a way to measure how much the stock market thinks a company is worth compared to how much the company says its assets are worth on paper.

Shopify - P/B ratio (from 2015 to 2025)

P/B ratio by year

Year	P/B ratio	Change
2025-12-31	17.8	45.48%
2024-12-31	12.2	10.73%
2023-12-31	11.0	105.91%
2022-12-31	5.36	-65.22%
2021-12-31	15.4	-28.22%
2020-12-31	21.5	40.69%
2019-12-31	15.3	108.5%
2018-12-31	7.32	-27.03%
2017-12-31	10.0	8.17%
2016-12-31	9.27	-11.85%
2015-12-31	10.5
2014-12-31	N/A

P/B ratio for similar companies or competitors

Company	P/B ratio	P/B ratio differencediff.	Country
MercadoLibre MELI	16.9	-2.97%	🇦🇷 Argentina
Etsy ETSY	-5.48	-131.48%	🇺🇸 USA
Shoper SHO.WA	20.1	15.53%	🇵🇱 Poland

What is the market capitalization of a company?

The market capitalization sometimes referred as Marketcap, is the value of a publicly listed company.
In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares.

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