Shopify annual debt-to-equity ratio
2018
2019
2020
2021
2022
2023
2024
2025
Shopify Debt-to-Equity Ratio Growth & History (SHOP)
Shopify's debt-to-equity ratio was 0.01 for fiscal 2025.
View full Shopify company overviewShopify annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.01 | −0.00 | −22.46% |
| 2024 | 2024-12-31 | 0.02 | −0.11 | −85.81% |
| 2023 | 2023-12-31 | 0.13 | −0.04 | −25.15% |
| 2022 | 2022-12-31 | 0.17 | 0.06 | +60.78% |
| 2021 | 2021-12-31 | 0.11 | −0.04 | −26.09% |
| 2020 | 2020-12-31 | 0.14 | 0.09 | +183.52% |
| 2019 | 2019-12-31 | 0.05 | 0.04 | +322.94% |
| 2018 | 2018-12-31 | 0.01 | — | — |
Shopify quarterly debt-to-equity ratio
Q4.18
Q4.19
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.01 | −0.00 | −22.66% |
| Q1 2026 | 2026-03-31 | 0.01 | −0.01 | −27.75% |
| Q4 2025 | 2025-12-31 | 0.01 | −0.00 | −22.46% |
| Q3 2025 | 2025-09-30 | 0.02 | — | — |
| Q2 2025 | 2025-06-30 | 0.02 | — | — |
| Q1 2025 | 2025-03-31 | 0.02 | — | — |
| Q4 2024 | 2024-12-31 | 0.02 | −0.11 | −85.81% |
| Q4 2023 | 2023-12-31 | 0.13 | −0.04 | −25.15% |
| Q4 2022 | 2022-12-31 | 0.17 | 0.06 | +60.78% |
| Q4 2021 | 2021-12-31 | 0.11 | −0.04 | −26.09% |
| Q4 2020 | 2020-12-31 | 0.14 | 0.09 | +183.52% |
| Q4 2019 | 2019-12-31 | 0.05 | 0.04 | +322.94% |
| Q4 2018 | 2018-12-31 | 0.01 | — | — |
Shopify debt-to-equity ratio trends
Over the last five fiscal years, Shopify's debt-to-equity ratio decreased from 0.14 to 0.01, a change of −0.13. The latest reported quarter, Q2 2026, shows 0.01.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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