Shopify Inc. (SHOP) Return on Invested Capital (ROIC): 8.67%
Is Shopify Inc.’s return on invested capital (ROIC) high or low?
Shopify Inc.'s return on invested capital (ROIC) of 8.67% is 2790% above its 5-year average of 0.30%, near the high end of its 5-year range (-9.71%–8.67%).
The return on invested capital (ROIC) for Shopify Inc. (SHOP) is 8.67% as of Wednesday, June 10, 2026. It is above its 12-month average by 6.91% (8.11%).
SHOP Return on Invested Capital (ROIC) Chart
SHOP Average Return on Invested Capital (ROIC) Chart
SHOP Current vs Average Return on Invested Capital (ROIC) Chart
SHOP Return on Invested Capital (ROIC) Metrics
RETURN ON INVESTED CAPITAL (ROIC)
8.67%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
8.11%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
-0.35%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
0.30%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
-2.65%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
-4.47%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
-4.47%
CURRENT VS TTM AVG
+6.91%
CURRENT VS 3Y AVG
+2577.14%
CURRENT VS 5Y AVG
+2790.00%
CURRENT VS 10Y AVG
+427.62%
CURRENT VS 15Y AVG
+294.05%
CURRENT VS 20Y AVG
+294.05%
SHOP Competitors' Return on Invested Capital (ROIC)
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Shopify Inc. (SHOP) | — | 8.67% | 8.11% | -0.35% | 0.30% |
| Salesforce, Inc. (CRM) | $141.00B | 8.76% | 8.36% | 5.69% | 4.06% |
| Uber Technologies, Inc. (UBER) | $139.66B | 11.21% | 9.00% | 3.46% | -1.70% |
| CrowdStrike Holdings, Inc. (CRWD) | $164.89B | -4.24% | -1.77% | -2.52% | -3.57% |
| Western Digital Corporation (WDC) | $167.87B | 21.53% | 9.75% | 6.22% | 5.25% |
| ServiceNow, Inc. (NOW) | $109.38B | 8.98% | 9.10% | 7.41% | 6.12% |
| Cadence Design Systems, Inc. (CDNS) | $105.80B | 14.11% | 13.77% | 18.23% | 18.78% |
| Accenture plc (ACN) | $104.93B | 16.99% | 17.99% | 19.80% | 19.97% |
| Fortinet, Inc. (FTNT) | $101.91B | 28.75% | 27.98% | 29.21% | 26.02% |
| Palo Alto Networks, Inc. (PANW) | $179.39B | 5.67% | 5.41% | 2.94% | 0.73% |
Capital Efficiency
ROIC
8.7%
ROE
10.6%
Shopify Inc. Return on Invested Capital (ROIC) Formula & Definition
ROIC = NOPAT / Invested Capital
Return on invested capital measures the after-tax return a company earns on all capital (debt and equity) invested in the business.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Shopify Inc. Return on Invested Capital (ROIC) FAQ
- What is the return on invested capital (ROIC) for Shopify Inc. (SHOP)?
- The return on invested capital (ROIC) for SHOP stock is 8.67%.
- Is Shopify Inc.'s return on invested capital (ROIC) high or low?
- Shopify Inc.'s return on invested capital (ROIC) of 8.67% is 2790% above its 5-year average of 0.30%, near the high end of its 5-year range (-9.71%–8.67%).
- What is the TTM average return on invested capital (ROIC) for Shopify Inc. (SHOP)?
- The TTM average return on invested capital (ROIC) for SHOP stock is 8.11%.
- What is the 3Y average return on invested capital (ROIC) for Shopify Inc. (SHOP)?
- The 3Y average return on invested capital (ROIC) for SHOP stock is -0.35%.
- What is the 5Y average return on invested capital (ROIC) for Shopify Inc. (SHOP)?
- The 5Y average return on invested capital (ROIC) for SHOP stock is 0.30%.
- What is the 10Y average return on invested capital (ROIC) for Shopify Inc. (SHOP)?
- The 10Y average return on invested capital (ROIC) for SHOP stock is -2.65%.
- What is the 15Y average return on invested capital (ROIC) for Shopify Inc. (SHOP)?
- The 15Y average return on invested capital (ROIC) for SHOP stock is -4.47%.
- What is the 20Y average return on invested capital (ROIC) for Shopify Inc. (SHOP)?
- The 20Y average return on invested capital (ROIC) for SHOP stock is -4.47%.
Shopify Inc. Return on Invested Capital (ROIC) History
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2025-12-31 | 8.67% |
| 2024-12-31 | 7.55% |
| 2023-12-31 | -9.71% |
| 2022-12-31 | -7.91% |
| 2021-12-31 | 1.97% |
| 2020-12-31 | 1.23% |
| 2019-12-31 | -4.44% |
| 2018-12-31 | -4.34% |
| 2017-12-31 | -4.82% |
| 2016-12-31 | -8.74% |
| 2015-12-31 | -8.57% |
| 2014-12-31 | -28.48% |
| 2013-12-31 | -4.96% |
| 2012-12-31 | 0.00% |
Related Metrics
About Shopify Inc.
Shopify Inc. functions as a premier commerce technology company, providing an extensive platform and associated services to empower businesses worldwide. Its reach extends across Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific region, and Latin America. The company's robust platform equips merchants to effectively display, organize, market, and sell their merchandise through a multitude of sales avenues. These include digital storefronts accessible via web and mobile, traditional brick-and-mortar stores, temporary pop-up locations, integrated social media channels, proprietary mobile applications, embeddable "buy buttons," and established online marketplaces. Beyond sales, the platform streamlines crucial business operations such as product and inventory management, order and payment processing, fulfillment and shipping logistics, attracting new customers and fostering client relationships, product sourcing, analytical reporting, financial administration encompassing cash, payments, and transactions, and facilitating access to working capital. Additionally, Shopify offers supplementary services like the sale of custom website themes and applications, alongside domain name registration. Its merchant-focused solutions also cover payment acceptance, efficient shipping and order fulfillment, and aid in securing necessary operating funds. Founded in 2004 under the initial name Jaded Pixel Technologies Inc., the company officially rebranded to Shopify Inc. in November 2011. Its global headquarters are located in Ottawa, Canada.
- Sector
- Technology
- Industry
- Software - Application
- CEO
- Tobias Lutke