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 Shopify Inc balance sheet independence to measure how much of total assets are equity-financed.
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. Check SHOP tangible net worth ratio to evaluate the tangible quality of the company's equity base.
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. For live market cap and the full company profile, see market value of Shopify Inc.
| 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 | — |