Shopify Inc (SHOP) — Tangible Net Worth Ratio
Shopify Inc (SHOP) has a Tangible Net Worth Ratio of 99.7% as of September 2025. This metric is calculated by deducting intangible assets ($32.97 Million) from net assets ($12.50 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See Shopify Inc (SHOP) liquidity to equity ratio to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Shopify Inc Tangible Net Worth Ratio (2013–2024)
This chart shows how Shopify Inc's Tangible Net Worth Ratio has changed across 12 annual periods from 2013 to 2024. As of September 2025, the ratio stands at 99.7%, reflecting net assets of $12.50 Billion with intangible assets of $32.97 Million USD. See SHOP cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Shopify Inc (2013–2024)
The table below presents the year-by-year Tangible Net Worth Ratio for Shopify Inc from 2013 to 2024, covering 12 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see Shopify Inc stock valuation.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2024 | 99.8% | $11.56 Billion | $22.00 Million | $13.92 Billion | ▲ +0.1 pp |
| 2023 | 99.7% | $9.07 Billion | $29.00 Million | $11.30 Billion | ▲ +4.4 pp |
| 2022 | 95.3% | $8.24 Billion | $390.00 Million | $10.76 Billion | ▼ -3.5 pp |
| 2021 | 98.8% | $11.13 Billion | $138.50 Million | $13.34 Billion | ▲ +0.9 pp |
| 2020 | 97.9% | $6.40 Billion | $135.68 Million | $7.76 Billion | ▲ +3.4 pp |
| 2019 | 94.5% | $3.02 Billion | $167.28 Million | $3.49 Billion | ▼ -4.3 pp |
| 2018 | 98.8% | $2.09 Billion | $26.07 Million | $2.25 Billion | ▲ +0.5 pp |
| 2017 | 98.3% | $1.00 Billion | $17.21 Million | $1.11 Billion | ▼ -0.2 pp |
| 2016 | 98.4% | $410.48 Million | $6.44 Million | $490.56 Million | ▲ +1.4 pp |
| 2015 | 97.0% | $195.32 Million | $5.83 Million | $243.71 Million | ▲ +1.0 pp |
| 2014 | 96.0% | $67.73 Million | $2.71 Million | $95.19 Million | ▼ -2.9 pp |
| 2013 | 98.9% | $85.38 Million | $926.00K | $95.79 Million | — |