Shopify Inc (SHOP) - Net Assets
Based on the latest financial reports, Shopify Inc (SHOP) has net assets worth $12.50 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($15.02 Billion) and total liabilities ($2.53 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check SHOP cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $12.50 Billion |
| % of Total Assets | 83.17% |
| Annual Growth Rate | 56.23% |
| 5-Year Change | 80.57% |
| 10-Year Change | 5817.56% |
| Growth Volatility | 65.99 |
Shopify Inc - Net Assets Trend (2013–2024)
This chart illustrates how Shopify Inc's net assets have evolved over time, based on quarterly financial data. Also explore SHOP asset base for the complete picture of this company's asset base.
Annual Net Assets for Shopify Inc (2013–2024)
The table below shows the annual net assets of Shopify Inc from 2013 to 2024. For live valuation and market cap data, see SHOP market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $11.56 Billion | +27.49% |
| 2023-12-31 | $9.07 Billion | +10.04% |
| 2022-12-31 | $8.24 Billion | -26.00% |
| 2021-12-31 | $11.13 Billion | +73.94% |
| 2020-12-31 | $6.40 Billion | +112.24% |
| 2019-12-31 | $3.02 Billion | +44.24% |
| 2018-12-31 | $2.09 Billion | +108.85% |
| 2017-12-31 | $1.00 Billion | +143.89% |
| 2016-12-31 | $410.48 Million | +110.16% |
| 2015-12-31 | $195.32 Million | +188.37% |
| 2014-12-31 | $67.73 Million | -20.67% |
| 2013-12-31 | $85.38 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Shopify Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 163575300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.63 Billion | 14.09% |
| Common Stock | $9.63 Billion | 83.35% |
| Other Comprehensive Income | $-10.00 Million | -0.09% |
| Other Components | $305.00 Million | 2.64% |
| Total Equity | $11.56 Billion | 100.00% |
Shopify Inc Competitors by Market Cap
The table below lists competitors of Shopify Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Bank of China Limited
SHG:601988
|
$198.31 Billion |
|
L’Oreal SA
PA:OR
|
$198.75 Billion |
|
HERMES INTL UNSP.ADR 1/10
F:HMIA
|
$199.78 Billion |
|
SAP SE
F:SAPA
|
$200.15 Billion |
|
McDonald’s Corporation
NYSE:MCD
|
$196.38 Billion |
|
Verizon Communications Inc
SA:VERZ34
|
$195.66 Billion |
|
Mitsubishi UFJ Financial Group Inc ADR
NYSE:MUFG
|
$194.79 Billion |
|
Nextera Energy Inc
NYSE:NEE
|
$193.89 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shopify Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 9,066,000,000 to 11,558,000,000, a change of 2,492,000,000 (27.5%).
- Net income of 2,019,000,000 contributed positively to equity growth.
- Share repurchases of 61,000,000 reduced equity.
- Other comprehensive income decreased equity by 14,000,000.
- Other factors increased equity by 548,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.02 Billion | +17.47% |
| Share Repurchases | $61.00 Million | -0.53% |
| Other Comprehensive Income | $-14.00 Million | -0.12% |
| Other Changes | $548.00 Million | +4.74% |
| Total Change | $- | 27.49% |
Book Value vs Market Value Analysis
This analysis compares Shopify Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 18.14x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 1250.85x to 18.14x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-12-31 | $0.13 | $161.08 | x |
| 2014-12-31 | $0.10 | $161.08 | x |
| 2015-12-31 | $0.32 | $161.08 | x |
| 2016-12-31 | $0.49 | $161.08 | x |
| 2017-12-31 | $1.05 | $161.08 | x |
| 2018-12-31 | $1.98 | $161.08 | x |
| 2019-12-31 | $2.67 | $161.08 | x |
| 2020-12-31 | $5.18 | $161.08 | x |
| 2021-12-31 | $8.74 | $161.08 | x |
| 2022-12-31 | $6.51 | $161.08 | x |
| 2023-12-31 | $7.00 | $161.08 | x |
| 2024-12-31 | $8.88 | $161.08 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shopify Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.47%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 22.74%
- • Asset Turnover: 0.64x
- • Equity Multiplier: 1.20x
- Recent ROE (17.47%) is above the historical average (-5.00%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | -5.67% | -9.63% | 0.52x | 1.12x | $-13.38 Million |
| 2014 | -32.94% | -21.24% | 1.10x | 1.41x | $-29.08 Million |
| 2015 | -9.62% | -9.16% | 0.84x | 1.25x | $-38.32 Million |
| 2016 | -8.61% | -9.08% | 0.79x | 1.20x | $-76.40 Million |
| 2017 | -4.00% | -5.94% | 0.60x | 1.11x | $-140.10 Million |
| 2018 | -3.09% | -6.01% | 0.48x | 1.08x | $-273.63 Million |
| 2019 | -4.14% | -7.91% | 0.45x | 1.16x | $-426.42 Million |
| 2020 | 4.99% | 10.91% | 0.38x | 1.21x | $-320.56 Million |
| 2021 | 26.18% | 63.20% | 0.35x | 1.20x | $1.80 Billion |
| 2022 | -42.00% | -61.79% | 0.52x | 1.31x | $-4.28 Billion |
| 2023 | 1.46% | 1.87% | 0.62x | 1.25x | $-774.60 Million |
| 2024 | 17.47% | 22.74% | 0.64x | 1.20x | $863.20 Million |
Industry Comparison
This section compares Shopify Inc's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $1,334,233,073
- Average return on equity (ROE) among peers: -97.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shopify Inc (SHOP) | $12.50 Billion | -5.67% | 0.20x | $196.94 Billion |
| Adobe Systems Incorporated (ADBE) | $715.42 Million | 26.12% | 0.31x | $93.73 Billion |
| ADEIA CORP (ADEA) | $179.96 Million | 17.48% | 0.06x | $3.00 Billion |
| Automatic Data Processing Inc (ADP) | $6.67 Billion | 22.73% | 3.81x | $76.36 Billion |
| Autodesk Inc (ADSK) | $460.20 Million | 19.69% | 0.51x | $48.93 Billion |
| AudioEye Inc (AEYE) | $696.01K | -805.71% | 6.23x | $71.03 Million |
| Agilysys Inc (AGYS) | $213.98 Million | 10.87% | 1.77x | $1.97 Billion |
| Firefly Neuroscience, Inc. (AIFF) | $1.61 Million | 25.62% | 1.34x | $24.73 Million |
| XIAO-I Corporation American Depositary Shares (AIXI) | $-3.38 Million | 0.00% | 0.00x | $8.06 Million |
| Alight Inc (ALIT) | $5.09 Billion | -1.22% | 1.21x | $489.01 Million |
| Alkami Technology Inc (ALKT) | $14.64 Million | -285.93% | 2.60x | $1.91 Billion |
About Shopify Inc
Shopify Inc., a commerce technology company, provides tools to start, scale, market, and run a business of various sizes in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The Company offers Shopify platform that enables merchants to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, s… Read more