SHOP
Shopify
PE ratio, current and historical analysis
- Stocks
- Technology
- NASDAQ: SHOP
- PE Ratio
The P/E ratio for Shopify stock stands at 106.08 as of Jun 10, 2026. This takes into account the latest EPS of $1.02 and stock price of $108.2. A decrease of 7% has been observed in the PE ratio compared to its average of 114.1 of the past four quarters.
SHOP PE ratio history
Over the last six years, the average PE ratio of Shopify has been 204.28. The current 106.08 price-to-earnings ratio is 48% less than the historical average. Analyzing the last six years, SHOP's PE ratio reached its highest point in the Dec 2023 quarter at 779, with a price of $77.9 and an EPS of $0.1. The Sep 2021 quarter saw the lowest point at 49.3, with a price of $135.58 and an EPS of $2.75.
Shopify PE ratio by year
Maximum annual increase: 150.17% in 2025
Maximum annual decrease: -91.31% in 2024
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 169.44 | 150.17% | $160.97 | $0.95 |
| 2024 | 67.73 | -91.31% | $106.33 | $1.57 |
| 2023 | 779 | N/A | $77.9 | $0.1 |
| 2022 | N/A | N/A | $34.71 | -$2.73 |
| 2021 | 58.86 | -85.96% | $137.74 | $2.34 |
| 2020 | 419.24 | N/A | $113.2 | $0.27 |
| 2019 | N/A | N/A | $39.76 | -$0.11 |
| 2018 | N/A | N/A | $13.85 | -$0.06 |
| 2017 | N/A | N/A | $10.1 | -$0.04 |
| 2016 | N/A | N/A | $4.29 | -$0.04 |
| 2015 | N/A | N/A | $2.58 | -$0.03 |
| 2014 | N/A | N/A | N/A | -$0.06 |
| 2013 | N/A | N/A | N/A | -$0.01 |
| 2012 | N/A | N/A | N/A | $0 |
Shopify PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 116.29 | -31.37% | $118.62 | $1.02 |
| Dec 2025 | 169.44 | 57.34% | $160.97 | $0.95 |
| Sep 2025 | 107.69 | 70.5% | $148.61 | $1.38 |
| Jun 2025 | 63.16 | -17.31% | $114.95 | $1.82 |
| Mar 2025 | 76.38 | 12.77% | $95.48 | $1.25 |
| Dec 2024 | 67.73 | -9.57% | $106.33 | $1.57 |
| Sep 2024 | 74.9 | 12.26% | $80.14 | $1.07 |
| Jun 2024 | 66.72 | N/A | $66.05 | $0.99 |
| Mar 2024 | N/A | N/A | $77.17 | -$0.16 |
| Dec 2023 | 779 | N/A | $77.9 | $0.1 |
| Sep 2023 | N/A | N/A | $54.57 | -$0.9 |
| Jun 2023 | N/A | N/A | $64.6 | -$1.58 |
| Mar 2023 | N/A | N/A | $47.94 | -$1.51 |
| Dec 2022 | N/A | N/A | $34.71 | -$2.73 |
| Sep 2022 | N/A | N/A | $26.94 | -$2.54 |
SHOP Price vs fair value
SHOP average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
The current PE ratio of SHOP is under its 3, 5 and 10-year averages.
PE comparison
With a price to earnings (P/E) of 106.08, SHOP stands higher than the Technology sector and the industry average. Looking at the Technology sector average of 35.11, Shopify's price to earnings (P/E) is 202% higher.
SHOP PE vs peers
SHOP's PE ratio is above its peer stocks AMZN and MELI.
| Stock name | PE ratio | Market cap |
|---|---|---|
| ETSY Etsy Inc | 24.12 | $6.52B |
| AMZN Amazon Com Inc | 28.03 | $2.56T |
| MELI Mercadolibre Inc | 41.92 | $80.52B |
| SHOP Shopify Inc | 106.08 | $140.41B |
| EVLV Evolv Technologies Holdings Inc | N/A | $1.05B |
Frequently asked questions
What is Shopify's PE ratio?
The price to earnings ratio for SHOP stock is 106.08 as of Jun 10, 2026.
What is the 3-year average PE ratio for Shopify (SHOP)?
The 3-year average PE ratio for SHOP stock is 169.03.
What is the 5-year average PE ratio for Shopify (SHOP)?
The 5-year average PE ratio for SHOP stock is 163.49.
What is the highest PE ratio for SHOP?
The highest quarterly PE ratio in the last six years has been 779 and it was in the Dec 2023 quarter.
How does the current PE ratio for SHOP compare to its historical average?
SHOP's price to earnings ratio is currently 48% below its 6-year historical average.
Why is Shopify's PE ratio so high?
A company with a higher PE ratio may indicate that the market has higher growth expectations for the company's future earnings or profitability.
How is SHOP's PE ratio calculated (Shopify PE ratio formula)?
The P/E ratio is calculated by taking the latest stock price and dividing it by the earnings per share(EPS) for the last 12 months. As of today (Jun 10, 2026), Shopify's share price is $108.2. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $1.02. Therefore, Shopify's price to earnings ratio for today is 106.08. PE RATIO(106.08) = STOCK PRICE($108.2) / TTM EPS($1.02)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.