Shopify Inc (SHOP) — Working Capital to Net Assets Ratio
Shopify Inc (SHOP) has a Working Capital to Net Assets ratio of 51.9% as of September 2025. Working capital of $6.49 Billion (current assets of $8.70 Billion minus current liabilities of $2.21 Billion) is measured against net assets of $12.50 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See operational self-sufficiency of Shopify Inc to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Shopify Inc Working Capital to Net Assets (2013–2024)
This chart shows how Shopify Inc's Working Capital to Net Assets ratio has evolved across 12 annual periods from 2013 to 2024. As of September 2025, the ratio stands at 51.9%, reflecting working capital of $6.49 Billion against net assets of $12.50 Billion USD. For the complete balance sheet picture, see SHOP current and non-current assets.
Annual Working Capital to Net Assets for Shopify Inc (2013–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Shopify Inc from 2013 to 2024, covering 12 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. Check SHOP asset resilience ratio to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 45.8% | $5.30 Billion | $11.56 Billion | $7.25 Billion | $1.96 Billion | ▼ -13.5 pp |
| 2023 | 59.3% | $5.38 Billion | $9.07 Billion | $6.28 Billion | $898.00 Million | ▼ -3.7 pp |
| 2022 | 63.0% | $5.19 Billion | $8.24 Billion | $6.05 Billion | $856.00 Million | ▼ -7.3 pp |
| 2021 | 70.4% | $7.84 Billion | $11.13 Billion | $8.54 Billion | $702.73 Million | ▼ -30.2 pp |
| 2020 | 100.6% | $6.44 Billion | $6.40 Billion | $6.88 Billion | $438.33 Million | ▲ +20.2 pp |
| 2019 | 80.4% | $2.43 Billion | $3.02 Billion | $2.74 Billion | $316.38 Million | ▼ -14.8 pp |
| 2018 | 95.2% | $1.99 Billion | $2.09 Billion | $2.13 Billion | $138.69 Million | ▲ +2.2 pp |
| 2017 | 93.0% | $930.92 Million | $1.00 Billion | $1.03 Billion | $94.75 Million | ▲ +6.2 pp |
| 2016 | 86.8% | $356.37 Million | $410.48 Million | $422.90 Million | $66.53 Million | ▲ +2.2 pp |
| 2015 | 84.6% | $165.23 Million | $195.32 Million | $202.47 Million | $37.24 Million | ▲ +12.8 pp |
| 2014 | 71.8% | $48.61 Million | $67.73 Million | $68.38 Million | $19.77 Million | ▼ -19.5 pp |
| 2013 | 91.3% | $77.96 Million | $85.38 Million | $88.00 Million | $10.04 Million | — |