Shopify Inc. (SHOP)

Shopify Balance Sheet

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

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Cash & Equivalents	1,545	2,414	1,542	1,309	1,498	1,507	1,541	1,623	1,413	1,287	1,611	1,738	1,649	1,378	3,351	2,452	2,503	2,190	2,365	2,786
Short-Term Investments	4,302	3,935	4,278	4,205	4,016	3,388	3,480	3,554	3,626	3,631	3,169	3,125	3,438	3,563	3,604	4,795	5,287	5,329	5,391	5,087
Cash & Short-Term Investments	5,847	6,349	5,820	5,514	5,514	4,895	5,021	5,177	5,039	4,918	4,780	4,863	5,087	4,941	6,955	7,247	7,790	7,519	7,755	7,872
Cash Growth	6.04%	29.70%	15.91%	6.51%	9.43%	-0.47%	5.04%	6.46%	-0.94%	-0.47%	-31.27%	-32.89%	-34.70%	-34.28%	-10.32%	-7.95%	21.76%	22.83%	93.84%	233.50%
Accounts Receivable	327	286	264	228	252	192	174	178	194	173	186	202	203	158.31	140.47	163.9	127.14	98.89	91.88	98.34
Other Receivables	207	131	106	69	122	89	101	87	98	75	76	74	75	94.87	111.47	64.72	70.1	110.26	118.47	121.95
Receivables	1,995	1,833	1,676	1,451	1,395	1,242	1,043	940	964	927	809	659	487	460.78	392.12	324.52	266.93	281.71	271.41	270.13
Inventory	21	-	-	-	26	-	-	-	19	-	-	-	-	-	-	-	-	-	-	-
Prepaid Expenses	55	-	-	-	59	-	-	-	55	-	-	-	48	-	-	-	49.92	-	-	-
Other Current Assets	378	523	505	480	260	404	338	323	198	316	320	405	428	610.77	510.86	503.67	432.84	532.35	433.37	340.53
Total Current Assets	8,296	8,705	8,001	7,445	7,254	6,541	6,402	6,440	6,275	6,161	5,909	5,927	6,050	6,013	7,858	8,075	8,539	8,333	8,460	8,483
Property, Plant & Equipment	141	145	143	151	140	143	144	148	147	124	170	482	486	478.2	338.76	329.78	301.91	215.2	211.01	215.18
Long-Term Investments	6,159	5,613	5,831	5,153	5,998	5,130	4,182	4,029	4,377	3,680	3,132	2,277	1,954	2,422	1,994	2,895	3,956	4,445	2,796	1,631
Goodwill	491	491	491	491	452	452	449	427	427	427	427	1,865	1,836	1,836	379.35	356.53	356.53	349.43	311.87	311.87
Other Intangible Assets	30	33	36	39	22	24	26	25	29	33	26	372	390	410.82	133.13	131.61	138.5	141.93	124.2	129.69
Long-Term Accounts Receivable	12	5	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-Term Deferred Tax Assets	33	29	31	98	37	39	44	43	44	39	39	41	41	43.25	44.76	47.06	48.37	52.07	52.11	54.1
Other Long-Term Assets	27	18	25	23	21	-	99	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Assets	15,189	15,039	14,561	13,400	13,924	12,329	11,346	11,112	11,299	10,464	9,703	10,964	10,757	11,203	10,748	11,834	13,340	13,537	11,956	10,825
Accounts Payable	570	941	839	768	360	612	556	587	364	533	544	535	364	596.11	419.41	406.65	284.01	350.59	289.54	338.88
Accrued Expenses	263	-	-	-	220	-	-	-	128	-	9	-	115	-	-	-	138.09	-	-	-
Current Portion of Long-Term Debt	-	920	919	919	918	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current Portion of Leases	17	19	20	19	18	18	17	17	17	15	16	24	18	17.02	25.67	19.34	15.75	15.62	15.84	15.57
Current Income Taxes Payable	156	-	-	-	58	-	-	-	18	-	-	-	9	4.46	4.13	8.29	13.51	26.5	22.54	25.94
Current Unearned Revenue	300	300	298	295	283	290	298	296	302	304	310	324	296	287.63	254.01	247.65	216.79	203.85	183.16	114.73
Other Current Liabilities	86	33	2	8	99	1	3	2	69	-	1	-	54	-	-	-	34.59	-	-	-
Total Current Liabilities	1,392	2,213	2,078	2,009	1,956	921	874	902	898	852	880	883	856	905.22	703.21	681.93	702.73	596.56	511.08	495.1
Long-Term Debt	-	-	-	-	-	917	917	916	916	915	914	914	913	912.72	912.14	911.55	910.96	910.38	909.79	909.21
Long-Term Leases	171	176	200	200	190	206	203	212	217	192	204	461	465	369.13	254.42	264.53	246.78	174.19	151.16	153.92
Long-Term Unearned Revenue	98	110	123	135	147	159	170	183	196	216	236	232	268	299.63	159.41	186.64	162.93	174.48	135.32	22.42
Long-Term Deferred Tax Liabilities	55	29	36	5	73	8	10	6	6	5	6	17	16	23.58	1.34	0.21	183.43	310.64	127.78	102.37
Total Liabilities	1,716	2,528	2,437	2,349	2,366	2,211	2,174	2,219	2,233	2,180	2,240	2,507	2,518	2,510	2,031	2,045	2,207	2,166	1,835	1,683
Common Stock	10,376	10,123	9,985	9,831	9,634	9,474	9,368	9,283	9,201	9,098	9,019	8,886	8,747	8,653	8,245	8,151	8,040	7,931	7,838	7,761
Additional Paid-In Capital	236	272	281	279	305	309	301	277	251	239	205	32	30	-	221.86	174.57	161.07	136.02	118.4	92.91
Retained Earnings	2,860	2,117	1,853	947	1,629	336	-492	-663	-390	-1,047	-1,765	-454	-522	101.42	259.83	1,464	2,938	3,309	2,161	1,282
Comprehensive Income & Other	1	-1	5	-6	-10	-1	-5	-4	4	-6	4	-7	-16	-61.42	-9.12	0.41	-5.97	-5.89	3.3	6.05
Total Common Equity	13,473	12,511	12,124	11,051	11,558	10,118	9,172	8,893	9,066	8,284	7,463	8,457	8,239	8,693	8,717	9,790	11,133	11,370	10,121	9,142
Shareholders' Equity	13,473	12,511	12,124	11,051	11,558	10,118	9,172	8,893	9,066	8,284	7,463	8,457	8,239	8,693	8,717	9,790	11,133	11,370	10,121	9,142
Total Liabilities & Equity	15,189	15,039	14,561	13,400	13,924	12,329	11,346	11,112	11,299	10,464	9,703	10,964	10,757	11,203	10,748	11,834	13,340	13,537	11,956	10,825
Total Debt	188	1,115	1,139	1,138	1,126	1,141	1,137	1,145	1,150	1,122	1,134	1,399	1,396	1,299	1,192	1,195	1,173	1,100	1,077	1,079
Net Cash (Debt)	6,634	5,910	5,512	5,270	5,097	3,754	3,884	4,032	4,004	3,796	3,646	3,464	3,691	3,643	5,763	6,051	6,616	6,419	6,679	6,794
Net Cash Growth	30.15%	57.43%	41.92%	30.70%	27.30%	-1.11%	6.53%	16.40%	8.48%	4.21%	-36.73%	-42.76%	-44.21%	-43.25%	-13.72%	-10.93%	20.64%	23.00%	73.57%	206.15%
Net Cash Per Share	5.08	4.52	4.20	4.04	3.92	2.86	2.99	3.14	3.09	2.97	2.86	2.73	2.91	2.89	4.58	4.76	5.19	5.08	5.30	5.39
Filing Date Shares Outstanding	1,304	1,302	1,300	1,297	1,295	1,292	1,290	1,289	1,287	1,285	1,283	1,279	1,277	1,272	1,268	1,261	1,260	1,256	1,248	1,243
Total Common Shares Outstanding	1,304	1,301	1,299	1,297	1,295	1,292	1,290	1,288	1,287	1,284	1,282	1,279	1,275	1,272	1,263	1,261	1,260	1,256	1,248	1,243
Working Capital	6,904	6,492	5,923	5,436	5,298	5,620	5,528	5,538	5,377	5,309	5,029	5,044	5,194	5,108	7,155	7,393	7,837	7,736	7,949	7,988
Book Value Per Share	10.33	9.61	9.33	8.52	8.93	7.83	7.11	6.90	7.05	6.45	5.82	6.61	6.46	6.83	6.90	7.76	8.84	9.05	8.11	7.35
Tangible Book Value	12,952	11,987	11,597	10,521	11,084	9,642	8,697	8,441	8,610	7,824	7,010	6,220	6,013	6,446	8,205	9,301	10,638	10,879	9,684	8,700
Tangible Book Value Per Share	9.93	9.21	8.93	8.11	8.56	7.46	6.74	6.55	6.69	6.09	5.47	4.86	4.72	5.07	6.50	7.37	8.45	8.66	7.76	7.00
Machinery	69	-	-	-	68	-	-	-	63	-	-	-	102	-	-	-	73.74	-	-	-
Leasehold Improvements	159	-	-	-	149	-	-	-	142	-	-	-	182	-	-	-	159.13	-	-	-

Updated Feb 11, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q