Shopify Inc.
SHOPNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
$156.22−1.27 (-0.81%)
Close on Nov 2, 2026Market cap $201.00BP/E 104.8Yield –
Shopify Merchant Solutions Cost of Revenues YoY Growth by Year
Merchant Solutions Cost of Revenues YoY Growth (%) (%)
Shopify Merchant Solutions Cost of Revenues YoY Growth: 38.0% in FY2025, up 13.0 pts from a year earlier.
Latest, FY2025
38.0%
Period ended Dec 31, 2025
Change on a year earlier
+13.0 pts
25.0% in FY2024
History
11 years
Since FY2015
Sources
10
Documents cited below
Where the FY2025 figure comes from
“|| Cost of merchant solutions | 5,481 | 38 | % | 3,974 | 25 | % | 3,191”
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Merchant Solutions Cost of Revenues YoY Growth (%) (%) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 38.0% | +13.0 pts | Form 10-K FY2025 (filed 2026-02-11) ↗ |
| FY2024 | Dec 31, 2024 | 25.0% | -2.0 pts | Form 10-K FY2025 (filed 2026-02-11) ↗ |
| FY2023 | Dec 31, 2023 | 27.0% | -8.0 pts | Form 10-K FY2024 (filed 2025-02-11) ↗ |
| FY2022 | Dec 31, 2022 | 35.0% | -21.3 pts | Form 40-F FY2023 (filed 2024-02-13) ↗ |
| FY2021 | Dec 31, 2021 | 56.3% | -48.1 pts | Form 40-F FY2022 (filed 2023-02-16) ↗ |
| FY2020 | Dec 31, 2020 | 104.4% | +49.0 pts | Form 40-F FY2021 (filed 2022-02-16) ↗ |
| FY2019 | Dec 31, 2019 | 55.4% | -6.8 pts | Form 40-F FY2020 (filed 2021-02-17) ↗ |
| FY2018 | Dec 31, 2018 | 62.2% | -2.9 pts | Form 40-F FY2019 (filed 2020-02-12) ↗ |
| FY2017 | Dec 31, 2017 | 65.1% | -43.0 pts | Form 40-F FY2018 (filed 2019-02-12) ↗ |
| FY2016 | Dec 31, 2016 | 108.1% | -55.2 pts | Form 40-F FY2017 (filed 2018-02-15) ↗ |
| FY2015 | Dec 31, 2015 | 163.3% | – | Form 40-F FY2016 (filed 2017-02-15) ↗ |
Cite this data
StockData. (2026). Shopify Merchant Solutions Cost of Revenues YoY Growth (%), annual FY2015–FY2025 [Data set]. Compiled from Shopify SEC filings and investor materials. https://stockdatahq.com/stocks/shop/kpis/merchant-solutions-cost-yoy-pct
See every metric in the Shopify KPI table. Data updated Oct 25, 2026.