All currency values in $ millions unless otherwise noted
Scroll
| Income Statement | TTM | DEC 2025 | DEC 2024 | DEC 2023 | DEC 2022 2:1 split | DEC 2015 ~1.6:1 split |
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Revenue | $14,114 | $11,556 | $8,880 | $7,060 | $5,600 | $205 |
| Cost of Revenue | $7,439 | $6,001 | $4,408 | $3,545 | $2,846 | $94 |
| Gross Profit | $6,728 | $5,555 | $4,472 | $3,515 | $2,754 | $111 |
| Operating Expenses | ||||||
| Selling & Marketing | $1,893 | $1,663 | $1,393 | $1,220 | $1,230 | $70 |
| General & Administrative | $506 | $471 | $410 | $491 | $708 | $19 |
| Research & Development | $1,769 | $1,536 | $1,367 | $1,730 | $1,503 | $40 |
| Provision for Doubtful Accounts | $250 | $230 | $148 | $80 | $74 | – |
| Total Operating Expenses | $4,659 | $4,087 | $3,397 | $4,933 | $3,576 | $129 |
| Operating Income | $2,069 | $1,468 | $1,075 | -$1,418 | -$822 | -$18 |
| Other Non-Operating Income (Expense) | $451 | $67 | $1,145 | $1,604 | -$2,803 | -$2 |
| EBT (Earnings Before Tax) | – | $1,509 | $2,228 | $185 | – | -$19 |
| Income Tax Expense | $406 | $278 | $209 | $53 | -$163 | $0 |
| Net Income | ||||||
| Net Income | $2,126 | $1,231 | $2,019 | $132 | -$3,460 | -$19 |
| Per Share Data | ||||||
| Revenue Per Share | $10.93 | $8.86 | $6.82 | $5.45 | $4.42 | $0.33 |
| EPS (Basic) | $1.65 | $0.95 | $1.57 | $0.10 | -$2.73 | -$0.03 |
| EPS (Diluted) | $1.65 | $0.94 | $1.55 | $0.10 | -$2.73 | -$0.03 |
| Weighted Avg Shares (Basic) | 1.29B | 1.30B | 1.29B | 1.28B | 1.27B | 61.7M |
| Weighted Avg Shares (Diluted) | 1.29B | 1.30B | 1.30B | 1.30B | 1.27B | 61.7M |
| Shares Outstanding | 1.29B | 1.30B | 1.30B | 1.30B | 1.27B | 617.2M |
Shopify (SHOP) financials: revenue, profit and margins
Shopify (SHOP) generated about $14.1 billion in revenue and $2.1 billion in net income (a 15.1% net margin) over the trailing twelve months, growing at roughly 156.0% a year. Figures are from SEC filings; this is analysis, not investment advice.
Frequently asked
What is Shopify's (SHOP) revenue?+
Shopify generated about $14.1 billion in revenue over the trailing twelve months. Revenue has grown at roughly 156.0% a year over the past five years. Revenue is the top line, before any costs; what matters for value is how much of it survives to free cash flow. The full income statement, balance sheet and cash-flow statement are on this tab.
Is Shopify profitable?+
Yes, Shopify reported about $2.1 billion in net income over the trailing twelve months, a net profit margin of roughly 15.1%. Net income is the bottom line after all costs, interest and taxes. Compare it to free cash flow on this tab, since reported profit and actual cash generated can diverge.
What are Shopify's profit margins?+
Shopify runs a gross margin of about 47.7%, an operating margin of about 14.7%, a net margin of about 15.1%. Margins show how much of each sales dollar a company keeps at each stage. Stable or rising margins usually signal pricing power and cost discipline; falling margins are worth investigating. See the multi-year trend on this tab.
How fast is Shopify growing?+
Shopify's revenue has compounded at roughly 156.0% a year over the past five years. Growth only creates value when it is profitable and cash-generative, so read this rate alongside SHOP's margins and free cash flow. This is analysis from SEC filings, not investment advice.
SourceFinancial statements computed from the 10-Q filed 3 Nov 2026, covering the period ending 30 Sept 2026, as reported to the SEC. Data last refreshed 4 Nov 2026. How this is calculated.
Fiscal year ends Dec.
Peers
Services-Prepackaged Software · Pick stocks to compare with SHOP
Held by ETFs
SHOP is in 199 US ETFs. The largest of them, with SHOP's weight in each:
Vanguard Total International Stock ETFVXUS0.40%of the fund
Invesco QQQ Trust, Series 1QQQ0.60%of the fund
Spot a number that looks wrong? Check it in SHOP's SEC filings or
Download this analysis as a PDF (Pro)
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Keep analysing SHOP
Create a free account and get 14 days of Premium: every stock and every tool.
- Unlimited stocks
- Stock screener
- Portfolio tracker
- Editable DCF
- Compare side by side
- Unlimited alerts
No card. Moves to Free after, unless you upgrade.
Already have an account?
Or come back tomorrow. Stocks on your watchlist are always free to view.