Shopify Inc. (SHOP) stock
SHOPNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
$147.09+0.31 (+0.21%)
Close on Nov 13, 2026Market cap $189.25BP/E 98.7Yield –
Shopify gross margin
Gross margin is gross profit as a percentage of revenue.
Shopify's gross margin for the twelve months ending Jun 30, 2026 was 47.8%. For fiscal 2025 it was 48.1%, against 50.4% the year before. The highest annual figure on record is 73.1% in fiscal 2013.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 48.1% | −2.3 |
| FY2024 | Dec 31, 2024 | 50.4% | +0.6 |
| FY2023 | Dec 31, 2023 | 49.8% | +0.6 |
| FY2022 | Dec 31, 2022 | 49.2% | −4.6 |
| FY2021 | Dec 31, 2021 | 53.8% | +1.2 |
| FY2020 | Dec 31, 2020 | 52.6% | −2.2 |
| FY2019 | Dec 31, 2019 | 54.9% | −0.7 |
| FY2018 | Dec 31, 2018 | 55.6% | −0.9 |
| FY2017 | Dec 31, 2017 | 56.5% | +2.7 |
| FY2016 | Dec 31, 2016 | 53.8% | −1.4 |
| FY2015 | Dec 31, 2015 | 55.2% | −3.7 |
| FY2014 | Dec 31, 2014 | 58.8% | −14.3 |
| FY2013 | Dec 31, 2013 | 73.1% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q2 FY2026 | Jun 30, 2026 | 47.7% | −0.9 |
| Q1 FY2026 | Mar 31, 2026 | 48.8% | −0.8 |
| Q4 FY2025 | Dec 31, 2025 | 46.1% | −2.0 |
| Q3 FY2025 | Sep 30, 2025 | 48.9% | −2.8 |
| Q2 FY2025 | Jun 30, 2025 | 48.6% | −2.5 |
| Q1 FY2025 | Mar 31, 2025 | 49.5% | −1.9 |
| Q4 FY2024 | Dec 31, 2024 | 48.1% | – |
| Q3 FY2024 | Sep 30, 2024 | 51.7% | – |
| Q2 FY2024 | Jun 30, 2024 | 51.1% | – |
| Q1 FY2024 | Mar 31, 2024 | 51.4% | – |
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