Shopify Inc Working Capital to Net Assets Ratio
Shopify Inc 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. Check Shopify Inc tangible book value ratio to evaluate the tangible quality of the company's equity base.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Working Capital to Net Assets Ratio of Shopify Inc (2013–2024)
Working capital to net assets ratio of Shopify Inc from 2013 to 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. See SHOP defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Shopify Inc Working Capital to Net Assets Ratio by Year (2013–2024)
Shopify Inc working capital to net assets ratio by year from 2013 to 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. For the complete balance sheet picture, see SHOP asset base.
| 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 | — |