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Shopify SHOP Net gains (losses) on investments

Net gains (losses) on investments at other companies

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$2M
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PayPal Holdings, Inc.PYPL
-$74M-773%

Other financials

Income statement

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Revenue$3.6B+33.7%
Gross profit$1.7B+31.2%
Operating income$488.0M+67.7%
Net income$1.5B+65.8%
EPS (diluted)$1.16+68.1%

Balance sheet

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Cash & equivalents$1.7B+7.4%
Total debt$178.0M-84.4%
Total equity$12.7B+4.6%
Total assets$14.5B-0.6%

Cash flow

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Operating cash flow$658.0M+53.7%
CapEx$4.0M-33.3%
Free cash flow$654.0M+55.0%

Valuation

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Market cap$195.02B+4.2%
Enterprise value$193.54B+3.6%
P/E105.8×-28.6×
P/S14.7×-5.0×

Profitability

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Gross margin47.8%-1.2pp
Operating margin14.2%+2.0pp
Net margin13.9%+3.4pp
FCF margin17.7%0.0pp

Returns & leverage

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Return on equity24.1%+8.7pp
Debt / equity-0.1×
Current ratio5.4×+1.5×

Where this comes from

Reported directly by Shopify in its filing.

Tagged under the XBRL concept us-gaap:UnrealizedGainLossOnInvestments.

The source filing: Shopify’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 7:03 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001594805-26-000047
Line itemThree months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Provision for transaction and loan losses944414287
Deferred income tax expense (recovery)1659826(31)
Revenue related to non-cash consideration(13)(12)(25)(25)
Net (gain) loss on equity and other investments(1,250)(682)(189)339
Net loss on equity method investment22244347
Unrealized foreign exchange loss (gain)4(46)18(58)
Changes in operating assets and liabilities(1)(35)(71)(41)
Net cash provided by operating activities6584281,139795

Item 1: Financial Statements (unaudited)

FAQ

What is Shopify's net gains (losses) on investments?
Shopify (SHOP) reported net gains (losses) on investments of $1.25B in Q2 2026.
How has Shopify's net gains (losses) on investments changed year-over-year?
Shopify's net gains (losses) on investments increased by 83.3% year-over-year, from $682M to $1.25B.
What is the long-term trend for Shopify's net gains (losses) on investments?
Over 2 years (2022 to 2024), Shopify's net gains (losses) on investments has grown at a -41.7% compound annual growth rate (CAGR), from -$2.92B to $992M.
What does net gains (losses) on investments mean?
Realized and unrealized gains/losses on investments removed from operating cash flow since they're investing-related.

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