stockrowShopify Inc.
SHOP Technology Software Application
Shopify Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.6 billion, up 30.1% from fiscal 2024.
- Revenue
- +31.6%
- EPS
- +79.5%
- Free cash flow
- +61.0%
- Total debt
- −81.7%
Quarter to September 2026, against a year earlier
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Shopify Inc. (SHOP) Operating margin
Shopify Inc.'s operating margin over the twelve months to 30 September 2026 was 14.6%, up 1.9 percentage points from fiscal 2025 (12.7%). Over the past ten years it has ranged from −20.1% (fiscal 2023) to 12.7% (fiscal 2025) — the current reading is the highest in ten years. That is above the Software Application industry median of 0.00% and above the Technology sector median of 0.02%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 12.7% | 0.59 |
| FY2024 | 12.1% | 32.19 |
| FY2023 | −20.1% | (5.40) |
| FY2022 | −14.7% | (20.51) |
| FY2021 | 5.83% | 2.75 |
| FY2020 | 3.08% | 12.02 |
| FY2019 | −8.94% | (0.38) |
| FY2018 | −8.56% | (1.26) |
| FY2017 | −7.30% | 2.25 |
| FY2016 | −9.55% | (0.90) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 15.2% | 1.56 |
| Jun 2026 | 13.6% | 1.57 |
| Mar 2026 | 12.1% | (5.13) |
| Dec 2025 | 17.2% | 5.12 |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| ADBE Adobe Inc. compare | 35.7% |
| INTU Intuit Inc. compare | 27.4% |
| SAP SAP SE compare | 27.0% |
| ADP Automatic Data Processing, Inc. compare | 26.5% |
| CRM Salesforce, Inc. compare | 19.9% |
| SHOP Shopify Inc. | 14.6% |
| UBER Uber Technologies, Inc. compare | 12.4% |
| NOW ServiceNow, Inc. compare | 9.68% |
| SNOW Snowflake Inc. compare | −22.8% |
| Software Application industry median | 0.00% |
| Technology sector median | 0.02% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on SHOP
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement