• Shopify average p/s ratio for 2023 was 12.05, a 20.5% increase from 2022.
• Shopify average p/s ratio for 2022 was 10, a 75.99% increase from 2021.
• Shopify average p/s ratio for 2021 was 41.65, a 6.66% decline from 2020.

P/s ratio can be defined as the price to sales or PS ratio is calculated by taking the latest closing price and dividing it by the most recent sales per share number. The PS ratio is an additional way to assess whether a stock is over or under valued and is used primarily in cases where earnings are negative and the PE ratio cannot be utilized.