ShopifyMEX:SHOP N 80 EV-to-FCF is 67.65 as of Jul. 05, 2026, which is 7% below its 10-year median of 73.03. GuruFocus rates MEX:SHOP N with a GF Score™ of 80/100 and a GF Value™ of MXN2,553.04 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,592 Software companies, Shopify ranks worse than 89.2% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Shopify's Enterprise Value is MXN2,618,296 Mil.
Shopify's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was MXN38,704 Mil. Therefore, Shopify's EV-to-FCF for today is 67.65.
The historical rank and industry rank for Shopify's EV-to-FCF or its related term are showing as below:
MEX:SHOP N'
s EV-to-FCF Range Over the Past 10 Years
Min: -5594.55 Med: 73.03 Max: 7221.95
Current: 70.5
During the past 13 years, the highest EV-to-FCF of Shopify was 7221.95. The lowest was -5594.55. And the median was 73.03.
MEX:SHOP N's EV-to-FCF is ranked worse than 89.2% of 1592
companies
in the Software industry
Industry Median: 14.62
vs MEX:SHOP N: 70.50
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-07-05), Shopify's stock price is MXN2128.90.
Shopify's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was MXN19.120. Therefore, Shopify's PE Ratio (TTM) for today is 111.34.
Shopify (MEX:SHOP N) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Shopify's share price for today is MXN2128.90.
Shopify's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN19.120.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Shopify EV-to-FCF Related Terms
Shopify EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Shopify's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:SHOP N vs UBER, CRM, CDNS: EV-to-FCF Comparison
For the Software - Application subindustry, Shopify's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Shopify EV-to-FCF vs Software Industry
For the Software industry and Technology sector, Shopify's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Shopify's EV-to-FCF falls into.
Shopify's current Enterprise Value is MXN2,618,296 Mil.
Shopify's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN38,704 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Shopify (MEX:SHOP N) has a EV-to-FCF of 67.65 as of Jul. 05, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Shopify and its competitors. This is near median its historical median of 73.03. According to the industry distribution chart, Shopify ranks #1420 out of 1592 companies in the Software industry, placing it in the top 89.2%.
Is Shopify's EV-to-FCF too high?
Shopify's current EV-to-FCF of 67.65 is near median its 10-year median of 73.03. The Software industry median EV-to-FCF is 14.62. Shopify's value of 67.65 is 362.7% above this industry median. Based on the distribution chart, Shopify ranks #1420 out of 1592 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Shopify has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shopify's EV-to-FCF compare to UBER and CRM?
According to the Software industry distribution chart, Shopify ranks #1420 out of 1592 companies for EV-to-FCF. This places Shopify in the lower half of its industry. The industry median EV-to-FCF is 14.62. Shopify's value of 67.65 is 362.7% above this benchmark. While the company's 10-year median is 73.03 vs. the industry median of 14.62, Shopify has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Software company?
The median EV-to-FCF among Software companies is 14.62, based on 1,592 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Shopify's current EV-to-FCF of 67.65 is 362.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Shopify and its competitors. For the Software industry, the median EV-to-FCF is 14.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shopify's current EV-to-FCF is 67.65, which is near median its own 10-year median of 73.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shopify stock overvalued right now?
Based on GuruFocus' analysis, Shopify (MEX:SHOP N) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN2,553.04, compared to a current price of MXN2,128.90 — trading 16.6% below its estimated fair value. The current EV-to-FCF is 67.65, which is near median its 10-year median of 73.03 and 362.7% above the Software industry median of 14.62. Shopify's overall GF Score™ is 80/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Shopify (MEX:SHOP N), the current EV-to-FCF is 67.65 as of Jul. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Shopify (MEX:SHOP N) Overvalued in 2026?
Based on GuruFocus' analysis, Shopify stock appears to be undervalued.
The current stock price of MXN2,128.90 is trading 16.6% below its estimated GF Value™ of MXN2,553.04.
GuruFocus considers Shopify to be Modestly Undervalued.
Key valuation signals for MEX:SHOP N:
EV-to-FCF: 67.65 (near median its 10-year median of 73.03)
GF Value™: MXN2,553.04 vs. price of MXN2,128.90 (16.6% below fair value)
Industry Position: 362.7% above the Software median (#1420 of 1592)
No single metric tells the full story. See the MEX:SHOP N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
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