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 operating margin
Operating margin is operating income as a percentage of revenue.
Shopify's operating margin for the twelve months ending Jun 30, 2026 was 13.9%. For fiscal 2025 it was 12.7%, against 12.1% the year before. The highest annual figure on record is 12.7% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 12.7% | +0.6 |
| FY2024 | Dec 31, 2024 | 12.1% | +32.2 |
| FY2023 | Dec 31, 2023 | -20.1% | −5.4 |
| FY2022 | Dec 31, 2022 | -14.7% | −20.5 |
| FY2021 | Dec 31, 2021 | 5.8% | +2.7 |
| FY2020 | Dec 31, 2020 | 3.1% | +12.0 |
| FY2019 | Dec 31, 2019 | -8.9% | −0.4 |
| FY2018 | Dec 31, 2018 | -8.6% | −1.3 |
| FY2017 | Dec 31, 2017 | -7.3% | +2.2 |
| FY2016 | Dec 31, 2016 | -9.5% | −0.9 |
| FY2015 | Dec 31, 2015 | -8.7% | +11.9 |
| FY2014 | Dec 31, 2014 | -20.6% | −12.1 |
| FY2013 | Dec 31, 2013 | -8.5% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q2 FY2026 | Jun 30, 2026 | 13.6% | +2.8 |
| Q1 FY2026 | Mar 31, 2026 | 12.1% | +3.4 |
| Q4 FY2025 | Dec 31, 2025 | 17.2% | +0.6 |
| Q3 FY2025 | Sep 30, 2025 | 12.1% | −1.0 |
| Q2 FY2025 | Jun 30, 2025 | 10.9% | −0.9 |
| Q1 FY2025 | Mar 31, 2025 | 8.6% | +4.0 |
| Q4 FY2024 | Dec 31, 2024 | 16.5% | – |
| Q3 FY2024 | Sep 30, 2024 | 13.1% | – |
| Q2 FY2024 | Jun 30, 2024 | 11.8% | – |
| Q1 FY2024 | Mar 31, 2024 | 4.6% | – |
See a number that looks wrong?