Shopify Inc. (SHOP)

NASDAQ: SHOP · Real-Time Price · USD

155.18

+3.61 (2.38%)

At close: Aug 10, 2026, 4:00 PM EDT

154.84

-0.34 (-0.22%)

After-hours: Aug 10, 2026, 7:58 PM EDT

Shopify Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	13,269	11,556	8,880	7,060	5,600	4,612
Revenue Growth	32.50%	30.14%	25.78%	26.07%	21.43%	57.43%
Gross Profit	6,338	5,555	4,472	3,515	2,754	2,481
Operating Income	1,844	1,468	1,075	-1,418	-822	268.64
Net Income	1,928	1,231	2,019	132	-3,460	2,915
Earnings Per Share	1.48	0.94	1.55	0.10	-2.73	2.29
EPS Growth	-17.32%	-39.36%	1450.00%	-	-	784.17%

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Subscription Solutions	3,028	2,752	2,350	1,837	1,488	1,342
Merchant Solutions	10,241	8,804	6,530	5,223	4,112	3,270
Revenue (Total)	13,269	11,556	8,880	7,060	5,600	4,612

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	4,947	5,778	5,479	5,008	5,053	7,768
Total Debt	178	188	1,126	1,150	1,396	1,173
Net Cash (Debt)	4,769	5,590	4,353	3,858	3,657	6,595
Net Cash Growth	1.88%	28.42%	12.83%	5.50%	-44.55%	20.45%
Net Cash Per Share	3.67	4.28	3.34	2.98	2.89	5.18

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	2,377	2,033	1,616	944	-136	535.71
Capital Expenditures	-25	-26	-19	-39	-50	-50.79
Free Cash Flow	2,352	2,007	1,597	905	-186	484.92
Free Cash Flow Growth	29.44%	25.67%	76.46%	-	-	26.54%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	47.77%	48.07%	50.36%	49.79%	49.18%	53.80%
Operating Margin	13.90%	12.70%	12.11%	-20.09%	-14.68%	5.83%
Pretax Margin	17.64%	13.06%	25.09%	2.62%	-64.70%	68.10%
Profit Margin	14.53%	10.65%	22.74%	1.87%	-61.79%	63.20%
FCF Margin	17.73%	17.37%	17.98%	12.82%	-3.32%	10.51%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 11, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	104.74	171.25	68.60	779.00	-	60.15
Forward PE	74.46	95.92	75.09	75.87	167.13	224.55
P/FCF Ratio	84.89	104.58	86.19	110.75	-	357.60
PS Ratio	15.05	18.16	15.50	14.20	7.90	37.60