Basis: Current FMP quote-based enterprise value / four-quarter operating income plus matched D&A. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EV/EBITDA ratio high or low?
The EV/EBITDA ratio of 89.76x is 42% below its estimated 5-year average of 155.30x, near the low end of its estimated 5-year range (73.15x–500.68x).
As of 2026-09-15T14:31:01.748Z. 25.69% below its estimated 12-month average of 120.79x.
Calculation as of: 2026-09-15T14:31:01.748Z.
Quote observation: 2026-09-15T14:30:17.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: f5441c292366f8d55c28fa68c517b8e2d742a6161d6f432ac8865c05a2042d70
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation. Historical series through 2026-09-11.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
EV/EBITDA RATIO
89.76x
EV/EBITDA RATIO AVG TTM
120.79x
EV/EBITDA RATIO AVG 3Y
128.40x
EV/EBITDA RATIO AVG 5Y
155.30x
EV/EBITDA RATIO AVG 10Y
N/A
EV/EBITDA RATIO AVG 15Y
N/A
EV/EBITDA RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-25.69%
CURRENT VS 3Y AVG
-30.09%
CURRENT VS 5Y AVG
-42.20%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · TECHNOLOGY
25.18x
median of 157 covered companies
CURRENT VS SECTOR MEDIAN
+256.47%
vs the sector median at left
Shopify Inc.
Market Cap
$169.59B
EV/EBITDA Ratio
89.76x
TTM Avg
120.79x
3Y Avg
128.40x
5Y Avg
155.30x
Market Cap
$175.27B
EV/EBITDA Ratio
40.60x
TTM Avg
40.01x
3Y Avg
62.88x
5Y Avg
44.32x
Market Cap
$176.94B
EV/EBITDA Ratio
26.63x
TTM Avg
30.98x
3Y Avg
25.98x
5Y Avg
24.14x
Market Cap
$192.36B
EV/EBITDA Ratio
22.11x
TTM Avg
28.09x
3Y Avg
25.92x
5Y Avg
23.10x
Market Cap
$146.41B
EV/EBITDA Ratio
55.38x
TTM Avg
54.96x
3Y Avg
93.75x
5Y Avg
118.84x
Market Cap
$145.95B
EV/EBITDA Ratio
20.35x
TTM Avg
29.16x
3Y Avg
68.09x
5Y Avg
77.16x
Market Cap
$145.89B
EV/EBITDA Ratio
29.77x
TTM Avg
32.46x
3Y Avg
32.13x
5Y Avg
19.33x
Market Cap
$196.17B
EV/EBITDA Ratio
17.55x
TTM Avg
14.36x
3Y Avg
15.88x
5Y Avg
14.23x
Market Cap
$196.80B
EV/EBITDA Ratio
69.77x
TTM Avg
53.50x
3Y Avg
78.89x
5Y Avg
69.67x
| NAME | MARKET CAP | EV/EBITDA RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Shopify Inc. (SHOP) | $169.59B | 89.76x | 120.79x | 128.40x | 155.30x |
| Seagate Technology Holdings plc (STX)vs › | $175.27B | 40.60x | 40.01x | 62.88x | 44.32x |
| Analog Devices, Inc. (ADI)vs › | $176.94B | 26.63x | 30.98x | 25.98x | 24.14x |
| Amphenol Corporation (APH)vs › | $192.36B | 22.11x | 28.09x | 25.92x | 23.10x |
| ServiceNow, Inc. (NOW)vs › | $146.41B | 55.38x | 54.96x | 93.75x | 118.84x |
| Uber Technologies, Inc. (UBER)vs › | $145.95B | 20.35x | 29.16x | 68.09x | 77.16x |
| Western Digital Corporation (WDC)vs › | $145.89B | 29.77x | 32.46x | 32.13x | 19.33x |
| QUALCOMM Incorporated (QCOM)vs › | $196.17B | 17.55x | 14.36x | 15.88x | 14.23x |
| Marvell Technology, Inc. (MRVL)vs › | $196.80B | 69.77x | 53.50x | 78.89x | 69.67x |
| Salesforce, Inc. (CRM)vs › | $209.95B | 18.27x | 17.16x | 24.86x | 31.11x |
At 89.8, EV/EBITDA is at an extreme level, where the multiple carries little signal — higher than 4% of readings in its estimated 6-year history.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
estimated 6-year low
73.2
median
160.6
estimated 6-year high
14670.4
EV/EBITDA = Enterprise Value / EBITDA (TTM)
Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | EV/EBITDA RATIO |
|---|---|
| 2026-09-11 | 88.46x |
| 2026-09-10 | 86.94x |
| 2026-09-09 | 87.07x |
| 2026-09-08 | 92.14x |
| 2026-09-04 | 99.75x |
| 2026-09-03 | 100.30x |
| 2026-09-02 | 97.52x |
| 2026-09-01 | 96.10x |
| 2026-08-31 | 101.33x |
| 2026-08-28 | 105.17x |
| 2026-08-27 | 106.16x |
| 2026-08-26 | 103.36x |
| 2026-08-25 | 105.85x |
| 2026-08-24 | 103.02x |
| 2026-08-21 | 102.64x |
| 2026-08-20 | 101.20x |
| 2026-08-19 | 100.79x |
| 2026-08-18 | 100.79x |
| 2026-08-17 | 102.22x |
| 2026-08-14 | 106.15x |
| 2026-08-13 | 109.07x |
| 2026-08-12 | 103.44x |
| 2026-08-11 | 104.97x |
| 2026-08-10 | 106.75x |
| 2026-08-07 | 104.25x |
| 2026-08-06 | 101.38x |
| 2026-08-05 | 111.10x |
| 2026-08-04 | 94.83x |
| 2026-08-03 | 89.94x |
| 2026-07-31 | 90.05x |
| 2026-07-30 | 94.13x |
| 2026-07-29 | 99.39x |
| 2026-07-28 | 100.25x |
| 2026-07-27 | 97.61x |
| 2026-07-24 | 87.41x |
| 2026-07-23 | 86.05x |
| 2026-07-22 | 91.04x |
| 2026-07-21 | 94.62x |
| 2026-07-20 | 95.75x |
| 2026-07-17 | 95.03x |
| 2026-07-16 | 96.20x |
| 2026-07-15 | 95.02x |
| 2026-07-14 | 96.68x |
| 2026-07-13 | 95.95x |
| 2026-07-10 | 94.24x |
| 2026-07-09 | 94.73x |
| 2026-07-08 | 91.66x |
| 2026-07-07 | 93.73x |
| 2026-07-06 | 92.37x |
| 2026-07-02 | 91.85x |
| 2026-07-01 | 93.53x |
| 2026-06-30 | 87.74x |
| 2026-06-29 | 87.77x |
| 2026-06-26 | 89.82x |
| 2026-06-25 | 85.75x |
| 2026-06-24 | 87.73x |
| 2026-06-23 | 82.69x |
| 2026-06-22 | 82.92x |
| 2026-06-18 | 83.60x |
| 2026-06-17 | 83.01x |
| 2026-06-16 | 87.00x |
| 2026-06-15 | 86.43x |
| 2026-06-12 | 83.13x |
| 2026-06-11 | 84.86x |
| 2026-06-10 | 83.09x |
| 2026-06-09 | 84.82x |
| 2026-06-08 | 85.10x |
| 2026-06-05 | 84.14x |
| 2026-06-04 | 89.19x |
| 2026-06-03 | 86.78x |
| 2026-06-02 | 89.94x |
| 2026-06-01 | 95.47x |
| 2026-05-29 | 91.26x |
| 2026-05-28 | 88.40x |
| 2026-05-27 | 81.85x |
| 2026-05-26 | 80.53x |
| 2026-05-22 | 79.05x |
| 2026-05-21 | 80.50x |
| 2026-05-20 | 80.61x |
| 2026-05-19 | 77.51x |
| 2026-05-18 | 78.58x |
| 2026-05-15 | 76.94x |
| 2026-05-14 | 74.72x |
| 2026-05-13 | 73.15x |
| 2026-05-12 | 76.60x |
| 2026-05-11 | 78.70x |
| 2026-05-08 | 84.81x |
| 2026-05-07 | 85.85x |
| 2026-05-06 | 80.95x |
| 2026-05-05 | 92.80x |
| 2026-05-04 | 110.14x |
| 2026-05-01 | 110.25x |
| 2026-04-30 | 104.55x |
| 2026-04-29 | 104.66x |
| 2026-04-28 | 105.35x |
| 2026-04-27 | 107.25x |
| 2026-04-24 | 108.64x |
| 2026-04-23 | 107.25x |
| 2026-04-22 | 113.98x |
| 2026-04-21 | 113.26x |
| 2026-04-20 | 116.75x |
| 2026-04-17 | 113.27x |
| 2026-04-16 | 109.61x |
| 2026-04-15 | 110.02x |
| 2026-04-14 | 101.51x |
| 2026-04-13 | 99.19x |
| 2026-04-10 | 95.55x |
| 2026-04-09 | 96.93x |
| 2026-04-08 | 103.66x |
| 2026-04-07 | 101.01x |
| 2026-04-06 | 102.52x |
| 2026-04-02 | 102.04x |
| 2026-04-01 | 102.28x |
| 2026-03-31 | 102.37x |
| 2026-03-30 | 96.40x |
| 2026-03-27 | 96.47x |
| 2026-03-26 | 99.59x |
| 2026-03-25 | 102.19x |
| 2026-03-24 | 100.22x |
| 2026-03-23 | 104.53x |
| 2026-03-20 | 100.76x |
| 2026-03-19 | 105.63x |
| 2026-03-18 | 106.83x |
| 2026-03-17 | 110.36x |
| 2026-03-16 | 109.30x |
| 2026-03-13 | 106.14x |
| 2026-03-12 | 108.94x |
| 2026-03-11 | 111.86x |
| 2026-03-10 | 111.72x |
| 2026-03-09 | 115.32x |
| 2026-03-06 | 112.45x |
| 2026-03-05 | 116.44x |
| 2026-03-04 | 111.97x |
| 2026-03-03 | 105.20x |
| 2026-03-02 | 103.03x |
| 2026-02-27 | 104.20x |
| 2026-02-26 | 108.74x |
| 2026-02-25 | 103.84x |
| 2026-02-24 | 100.90x |
| 2026-02-23 | 101.20x |
| 2026-02-20 | 108.97x |
| 2026-02-19 | 106.88x |
| 2026-02-18 | 105.00x |
| 2026-02-17 | 97.94x |
| 2026-02-13 | 97.21x |
| 2026-02-12 | 95.44x |
| 2026-02-11 | 115.86x |
| 2026-02-10 | 124.25x |
| 2026-02-09 | 115.55x |
| 2026-02-06 | 109.30x |
| 2026-02-05 | 108.51x |
| 2026-02-04 | 111.24x |
| 2026-02-03 | 116.43x |
| 2026-02-02 | 129.13x |
| 2026-01-30 | 128.18x |
| 2026-01-29 | 140.39x |
| 2026-01-28 | 135.75x |
| 2026-01-27 | 134.35x |
| 2026-01-26 | 133.18x |
| 2026-01-23 | 134.73x |
| 2026-01-22 | 134.49x |
| 2026-01-21 | 135.37x |
| 2026-01-20 | 141.24x |
| 2026-01-16 | 152.37x |
| 2026-01-15 | 154.52x |
| 2026-01-14 | 154.04x |
| 2026-01-13 | 163.82x |
| 2026-01-12 | 164.30x |
| 2026-01-09 | 160.90x |
| 2026-01-08 | 164.64x |
| 2026-01-07 | 163.13x |
| 2026-01-06 | 164.81x |
| 2026-01-05 | 162.60x |
| 2026-01-02 | 153.74x |
| 2025-12-31 | 157.45x |
| 2025-12-30 | 160.17x |
| 2025-12-29 | 164.25x |
| 2025-12-26 | 167.15x |
| 2025-12-24 | 165.79x |
| 2025-12-23 | 165.87x |
| 2025-12-22 | 166.01x |
| 2025-12-19 | 165.91x |
| 2025-12-18 | 163.19x |
| 2025-12-17 | 158.20x |
| 2025-12-16 | 159.58x |
| 2025-12-15 | 156.35x |
| 2025-12-12 | 160.62x |
| 2025-12-11 | 161.17x |
| 2025-12-10 | 164.78x |
| 2025-12-09 | 156.38x |
| 2025-12-08 | 154.93x |
| 2025-12-05 | 157.56x |
| 2025-12-04 | 158.77x |
| 2025-12-03 | 156.49x |
| 2025-12-02 | 153.37x |
| 2025-12-01 | 145.94x |
| 2025-11-28 | 155.15x |
| 2025-11-26 | 155.84x |
| 2025-11-25 | 153.90x |
| 2025-11-24 | 151.88x |
| 2025-11-21 | 144.49x |
| 2025-11-20 | 141.30x |
| 2025-11-19 | 142.71x |
| 2025-11-18 | 137.25x |
| 2025-11-17 | 136.74x |
| 2025-11-14 | 142.75x |
| 2025-11-13 | 143.05x |
| 2025-11-12 | 153.14x |
| 2025-11-11 | 155.45x |
| 2025-11-10 | 155.39x |
| 2025-11-07 | 149.02x |
| 2025-11-06 | 152.61x |
| 2025-11-05 | 159.37x |
| 2025-11-04 | 165.04x |
| 2025-11-03 | 177.37x |
| 2025-10-31 | 178.32x |
| 2025-10-30 | 178.06x |
| 2025-10-29 | 183.61x |
| 2025-10-28 | 183.56x |
| 2025-10-27 | 179.55x |
| 2025-10-24 | 177.38x |
| 2025-10-23 | 171.30x |
| 2025-10-22 | 166.14x |
| 2025-10-21 | 166.79x |
| 2025-10-20 | 168.92x |
| 2025-10-17 | 161.78x |
| 2025-10-16 | 160.55x |
| 2025-10-15 | 160.18x |
| 2025-10-14 | 156.76x |
| 2025-10-13 | 157.56x |
| 2025-10-10 | 154.85x |
| 2025-10-09 | 168.05x |
| 2025-10-08 | 170.68x |
| 2025-10-07 | 165.39x |
| 2025-10-06 | 168.70x |
| 2025-10-03 | 165.25x |
| 2025-10-02 | 155.14x |
| 2025-10-01 | 153.36x |
| 2025-09-30 | 152.37x |
| 2025-09-29 | 152.78x |
| 2025-09-26 | 143.79x |
| 2025-09-25 | 147.07x |
| 2025-09-24 | 152.60x |
| 2025-09-23 | 153.74x |
| 2025-09-22 | 161.12x |
| 2025-09-19 | 157.19x |
| 2025-09-18 | 155.97x |
| 2025-09-17 | 151.61x |
| 2025-09-16 | 150.94x |
| 2025-09-15 | 151.64x |
| 2025-09-12 | 147.00x |
| 2025-09-11 | 148.70x |
| 2025-09-10 | 145.79x |
| 2025-09-09 | 147.06x |
| 2025-09-08 | 149.92x |
| 2025-09-05 | 150.54x |
| 2025-09-04 | 148.82x |
| 2025-09-03 | 143.75x |
| 2025-09-02 | 142.54x |
| 2025-08-29 | 144.84x |
Showing the most recent 260 of 944 data points. The chart above shows the full history.
