SHOP P/B: current value, 10-year range and year-by-year history
Cash & Leverage
SHOP's p/b is higher than 82% of the last 10 years.
P/B History
SHOP P/B by year
Yearly range of SHOP’s p/b from 2016 to 2026. Over the full period it ranged from 3.7 to 35.4, averaging 13.0.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 9.9 | 13.3 | 18.3 | 17.1 |
| 2025 | 9.0 | 13.9 | 18.8 | 15.6 |
| 2024 | 7.4 | 10.8 | 15.4 | 11.9 |
| 2023 | 5.5 | 9.0 | 12.4 | 12.2 |
| 2022 | 3.7 | 6.2 | 15.4 | 5.1 |
| 2021 | 14.4 | 18.9 | 28.9 | 15.6 |
| 2020 | 12.4 | 22.9 | 35.4 | 22.2 |
| 2019 | 6.7 | 13.5 | 21.1 | 15.3 |
| 2018 | 7.1 | 10.1 | 15.2 | 7.1 |
| 2017 | 8.3 | 12.8 | 21.7 | 10.1 |
| 2016 | 7.8 | 8.6 | 9.3 | 8.8 |
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How much the market pays relative to the company's accounting net worth (assets minus liabilities). P/B < 1 means the market values the company below what the books say it owns.
Price / Book Value Per ShareMost useful for asset-heavy businesses: banks, insurers, REITs. A P/B near its historical low suggests the market is paying unusually little for the net assets.
- Goodwill and intangibles from acquisitions can inflate book value significantly — some analysts prefer tangible book value.
- Low P/B in technology or software companies is usually irrelevant: their value is in IP and people, not balance sheet assets.
Is SHOP P/B High or Low Right Now?
Shopify Inc.'s P/B is currently 17.1, which is historically pricey relative to its 10-year historical range. The 10-year median P/B for SHOP is approximately 11.8. See all SHOP valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.