Skip to content
OpenCapital
Get started
Income StatementBalance SheetCash FlowSegments
Shopify logo

Shopify Cash Flow Statement

Operating, investing, and financing cash movements

Shopify generated $2.1B in operating cash flow over the trailing twelve months. After $27.0M in capital expenditures, free cash flow was $2.1B. Free cash flow increased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.1BNet Cash From Investing (TTM)-$261.0MNet Cash From Financing (TTM)-$1.4BCapital Expenditures (TTM)$27.0MDepreciation And Amortization Cf (TTM)$30.0MNet Change In Cash (TTM)$35.0M
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$143.35B
P/E Ratio107.62
ROE11.31%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$0$56M$0$0$0$0
Capital expenditures$4M$4M$6M$6M$10M$5M
Payment for (Proceeds from) Other Investing Activity—$0-$2M$0-$56M-$2M
Payments To Acquire Equity And Other Investments$26M$4M$71M$8M$16M$1M
Payment for Acquisition, Loan, Held-for-Investment$877M$805M$944M$996M$1.3B$1.3B
Net cash from investing activities-$661M-$619M-$252M$335M-$654M$310M
Proceeds from Principal Repayments on Loans and Leases$775M$637M$767M$849M$1.2B$1B

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from convertible debt$0-$260.8M-$260.8M-$260.8M-$260.8M—
Proceeds from issuance of debt$0-$260.8M-$260.8M-$260.8M-$260.8M—
Net cash from financing activities$49M$59M$44M$24M-$938M-$485M
Proceeds from issuance of common stock$49M$59M$44M$24M$105M$6M
Repurchases of common stock—$0———$491M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share of Profits (Losses) of Related Party-$22M-$23M-$24M-$21M—-$21M
Change in accounts payable$27.5M$65.5M$65.5M$65.5M$65.5M—
Change in deferred revenue$6.5M$4.8M$4.8M$4.8M$4.8M—
Change in other assets$18M$9.5M$9.5M$9.5M$9.5M—
Other working capital changes—$6M$35M$70M—$70M
Change in receivables$37M$54.8M$54.8M$54.8M$54.8M—
Benefit from Receivables$52M$43M$44M$102M$41M$48M
Change in Finance Receivables$20.5M$35.3M$35.3M$35.3M$35.3M—
Loss (Gain) on Write-Down of Disposal Group$0$0$0$0$0—
Depreciation and amortization$8M$8M$8M$8M$7M$7M
Unrealized Foreign Currency Transaction Gain (Loss)-$34M$12M$46M-$4M$3M-$14M
Unrealized Foreign Currency Transaction Gain (Loss)-$34M$12M$46M-$4M$3M-$14M
Foreign Currency Transaction Gain (Loss)-$34M$12M$46M-$4M$3M-$14M
Income (Loss) from Equity Method Investments-$22M-$23M-$24M-$21M—-$21M
Income (Loss) from Equity Method Investments-$22M-$23M-$24M-$21M—-$21M
Income (Loss) from Equity Method Investments-$22M-$23M-$24M-$21M—-$21M
Net cash from operating activities$615M$367M$428M$513M$725M$481M
Net income$1.3B-$682M$906M$264M$743M-$581M
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax-$34M$12M$46M-$4M$3M-$14M
Equity in earnings (losses) of equity method investees-$22M-$23M-$24M-$21M—-$21M
Increase (Decrease) in Accounts and Other Receivables$37M$54.8M$54.8M$54.8M$54.8M—
Increase (Decrease) in Deferred Income Taxes-$72M$129M-$98M$5M—$139M
Increase (Decrease) in Other Operating Assets$18M$9.5M$9.5M$9.5M$9.5M—
Accounts Receivable, Credit Loss Expense (Reversal)$52M$43M$44M$102M$41M$48M
Revenue Related To Non-Cash Consideration$19M$13M$12M$12M$12M$12M
Stock Option Plan Expense$109M$114M$113M$107M$115M$132M
Unrealized Foreign Currency Transaction Gain (Loss)-$34M$12M$46M-$4M$3M-$14M
Income (Loss) from Equity Method Investments-$22M-$23M-$24M-$21M—-$21M
Impairment Charge on Assets Held for Sale$0$0$0$0$0—
Unrealized Foreign Currency Gain (Loss)-$34M$12M$46M-$4M$3M-$14M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$611M$363M$422M$507M$715M$476M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$12M$4M$13M$0—-$3M
Net increase (decrease) in cash—-$189M$233M$872M—$303M
Unrealized Gain (Loss) on Investments$929M-$1B$682M-$62M—-$1.1B

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$250K$250K$250K$250K$250K—
Income Taxes Paid, Net$53M$27M$61M$23M$83M$93M