Shopify Inc. (SHOP) operating KPIs
SHOPNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
$157.49−9.40 (-5.63%)
Close on Oct 30, 2026Market cap $202.63BP/E 105.7Yield –
Shopify research & Development (% of Total Revenue) (%) (%)
Annual figures from Shopify's filings and investor materials
Latest, FY2025
13.0%
Period ended Dec 31, 2025
Change on a year earlier
-2.0 pts
15.0% in FY2024
History
12 years
Since FY2014
Sources
10
Documents cited below
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Research & Development (% of Total Revenue) (%) (%) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 13.0% | -2.0 pts | Form 10-K FY2025 (filed 2026-02-11) ↗ |
| FY2024 | Dec 31, 2024 | 15.0% | -10.0 pts | Form 10-K FY2025 (filed 2026-02-11) ↗ |
| FY2023 | Dec 31, 2023 | 25.0% | -2.0 pts | Form 10-K FY2025 (filed 2026-02-11) ↗ |
| FY2022 | Dec 31, 2022 | 27.0% | +8.0 pts | Form 10-K FY2024 (filed 2025-02-11) ↗ |
| FY2021 | Dec 31, 2021 | 19.0% | +0.2 pts | Form 40-F FY2023 (filed 2024-02-13) ↗ |
| FY2020 | Dec 31, 2020 | 18.8% | -3.7 pts | Form 40-F FY2022 (filed 2023-02-16) ↗ |
| FY2019 | Dec 31, 2019 | 22.5% | +1.0 pts | Form 40-F FY2021 (filed 2022-02-16) ↗ |
| FY2018 | Dec 31, 2018 | 21.5% | +1.3 pts | Form 40-F FY2020 (filed 2021-02-17) ↗ |
| FY2017 | Dec 31, 2017 | 20.2% | +1.1 pts | Form 40-F FY2019 (filed 2020-02-12) ↗ |
| FY2016 | Dec 31, 2016 | 19.1% | -0.3 pts | Form 40-F FY2018 (filed 2019-02-12) ↗ |
| FY2015 | Dec 31, 2015 | 19.4% | -5.3 pts | Form 40-F FY2017 (filed 2018-02-15) ↗ |
| FY2014 | Dec 31, 2014 | 24.7% | – | Form 40-F FY2016 (filed 2017-02-15) ↗ |
Cite this data
StockData. (2026). Shopify Research & Development (% of Total Revenue) (%) (%), annual FY2014–FY2025 [Data set]. Compiled from Shopify SEC filings and investor materials. https://stockdatahq.com/stocks/shop/kpis/research_and_development_pct_revenue
See every metric in the Shopify KPI table. Data updated Oct 25, 2026.