Shopify Inc. (SHOP)
NASDAQ: SHOP · Real-Time Price · USD
147.74
+9.82 (7.12%)
At close: Sep 22, 2026, 4:00 PM EDT
147.62
-0.12 (-0.08%)
After-hours: Sep 22, 2026, 5:53 PM EDT
Shopify Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
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 |
Net Income | 1,928 | 1,231 | 2,019 | 132 | -3,460 | 2,915 |
Depreciation & Amortization | 29 | 31 | 36 | 70 | 93 | 66.31 |
Other Amortization | - | - | - | - | - | 2.34 |
Loss (Gain) From Sale of Assets | - | - | - | 1,340 | - | - |
Asset Writedown & Restructuring Costs | 3 | 13 | - | 38 | 84 | 30.15 |
Loss (Gain) From Sale of Investments | -375 | 153 | -992 | -1,419 | 2,919 | -2,860 |
Loss (Gain) on Equity Investments | 36 | 40 | 138 | 58 | - | - |
Stock-Based Compensation | 482 | 449 | 430 | 615 | 549 | 330.76 |
Other Operating Activities | 421 | 233 | 151 | -85 | -222 | 180.93 |
Change in Accounts Receivable | -219 | -219 | -148 | -98 | -105 | -72.3 |
Change in Accounts Payable | 262 | 262 | 110 | 69 | 28 | 138.18 |
Change in Unearned Revenue | 19 | 19 | 26 | 60 | 32 | 309.29 |
Change in Income Taxes | - | - | - | - | - | 45.26 |
Change in Other Net Operating Assets | -209 | -179 | -154 | 164 | -54 | -550.07 |
Operating Cash Flow | 2,377 | 2,033 | 1,616 | 944 | -136 | 535.71 |
Operating Cash Flow Growth | 29.68% | 25.80% | 71.19% | - | - | 26.06% |
Investing Activities
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 |
Capital Expenditures | -25 | -26 | -19 | -39 | -50 | -50.79 |
Cash Acquisitions | - | -56 | -30 | -31 | -1,754 | -59.63 |
Investment in Securities | 1,235 | -587 | -1,076 | -615 | 1,244 | -2,237 |
Other Investing Activities | 59 | 58 | 3 | -36 | - | - |
Investing Cash Flow | 562 | -1,190 | -1,586 | -1,244 | -719 | -2,379 |
Financing Activities
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 |
Long-Term Debt Repaid | - | -1,043 | - | - | - | - |
Net Debt Issued (Repaid) | -1,043 | -1,043 | - | - | - | - |
Issuance of Common Stock | 138 | 232 | 61 | 60 | 18 | 1,660 |
Other Financing Activities | - | - | - | - | - | -10.53 |
Financing Cash Flow | -2,816 | -811 | 61 | 60 | 18 | 1,650 |
Net Cash Flow
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 |
Foreign Exchange Rate Adjustments | -9 | 15 | -6 | 4 | -17 | -7.01 |
Net Cash Flow | 114 | 47 | 85 | -236 | -854 | -200.61 |
Free Cash Flow
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 |
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% |
Free Cash Flow Margin | 17.73% | 17.37% | 17.98% | 12.82% | -3.32% | 10.51% |
Free Cash Flow Per Share | 1.81 | 1.54 | 1.23 | 0.70 | -0.15 | 0.38 |
Levered Free Cash Flow | 1,588 | 1,286 | 861.38 | 578.5 | 232.2 | 573.69 |
Unlevered Free Cash Flow | 1,588 | 1,286 | 861.38 | 578.5 | 232.2 | 573.53 |
Additional Metrics
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 |
Cash Interest Paid | 1 | 1 | 1 | 1 | 1 | 1.29 |
Cash Income Tax Paid | 347 | 194 | 116 | 50 | 27 | -10.47 |
Change in Working Capital | -147 | -117 | -166 | 195 | -99 | -129.64 |