Operating Expenses
Total Lease Cost
Shopify Total Lease Cost remained flat by 0.0% to $9.50M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 7.3%, from $10.25M to $9.50M. Over 3 years (FY 2022 to FY 2025), Total Lease Cost shows a downward trend with a -6.8% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryEfficiency
SignalLower is better
VolatilityStable
First reportedQ1 2022
Last reportedQ4 2025Feb 11, 2026
How to read this metric
Provides a clear view of the total operational burden of leasing; rising costs relative to revenue may indicate declining efficiency.
Detailed definition
The comprehensive sum of all lease-related expenses, including operating lease costs, finance lease interest, and variab...
Peer comparison
Used by analysts to normalize operating expenses across companies with different capital structures.
Metric ID:
ibm_total_lease_costHistorical Data
4 years
| FY'22 | FY'23 | FY'24 | FY'25 | |
|---|---|---|---|---|
| Value | $47.00M | $48.00M | $41.00M | $38.00M |
| YoY Change | — | +2.1% | -14.6% | -7.3% |
Range$38.00M – $48.00M
CAGR-6.8%
Avg YoY Growth-6.6%
Median YoY Growth-7.3%
Current Streak2 years decline
Total Lease Cost at Other Companies
Frequently Asked Questions
- What is Shopify's total lease cost?
- Shopify (SHOP) reported total lease cost of $9.50M in Q4 2025.
- How has Shopify's total lease cost changed year-over-year?
- Shopify's total lease cost decreased by 7.3% year-over-year, from $10.25M to $9.50M.
- What is the long-term trend for Shopify's total lease cost?
- Over 3 years (2022 to 2025), Shopify's total lease cost has grown at a -6.8% compound annual growth rate (CAGR), from $47.00M to $38.00M.
- What does total lease cost mean?
- The total cost of all lease obligations combined.