Shopify Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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
Net Income	1,332	1,231	2,019	132	-3,460	2,915
Depreciation & Amortization	30	31	36	70	93	66.31
Stock-Based Compensation	467	449	430	615	549	330.76
Other Adjustments	318	439	-703	-68	2,781	-2,646
Change in Receivables	-	-360	-230	116	-128	-307.09
Changes in Accounts Payable	-	262	110	69	28	138.18
Changes in Income Taxes Payable	-	-	-	-	-	45.26
Changes in Unearned Revenue	-	19	26	60	32	309.29
Changes in Other Operating Activities	-	-38	-72	-50	-31	-315.27
Operating Cash Flow	2,147	2,033	1,616	944	-136	535.71
Operating Cash Flow Growth	23.04%	25.80%	71.19%	-	-	26.06%
Capital Expenditures	-27	-26	-19	-39	-50	-50.79
Purchases of Investments	-10,819	-11,153	-11,539	-8,066	-6,172	-8,186
Proceeds from Sale of Investments	10,525	9,987	9,999	6,928	7,257	5,917
Payments for Business Acquisitions	-	-56	-30	-31	-1,754	-59.63
Other Investing Activities	60	58	3	-36	-	-
Investing Cash Flow	-261	-1,190	-1,586	-1,244	-719	-2,379
Long-Term Debt Repaid	-1,043	-1,043	-	-	-	-
Net Long-Term Debt Issued (Repaid)	-1,043	-1,043	-	-	-	-
Issuance of Common Stock	179	232	61	60	18	1,650
Repurchase of Common Stock	-491	-	-	-	-	-
Net Common Stock Issued (Repurchased)	-312	232	61	60	18	1,650
Financing Cash Flow	-1,355	-811	61	60	18	1,650
Effect of Exchange Rate Changes on Cash and Cash Equivalents	8	15	-6	4	-17	-7.01
Net Cash Flow	539	47	85	-236	-854	-200.61
Free Cash Flow	2,120	2,007	1,597	905	-186	484.92
Free Cash Flow Growth	5.63%	25.67%	76.46%	-	-	26.54%
FCF Margin	17.14%	17.37%	17.98%	12.82%	-3.32%	10.51%
Free Cash Flow Per Share	1.62	1.54	1.23	0.70	-0.15	0.38
Levered Free Cash Flow	292	436	2,100	242	-3,388	3,108
Unlevered Free Cash Flow	1,291	1,446	1,055	-901.76	-713.02	442.29

SEC Filings: 10-K · 10-Q