What is Shopify's pre-tax income?

Shopify (SHOP) reported pre-tax income of $377.25M in Q4 2025.

How has Shopify's pre-tax income changed year-over-year?

Shopify's pre-tax income decreased by 32.3% year-over-year, from $557M to $377.25M.

What is the long-term trend for Shopify's pre-tax income?

Over 2 years (2023 to 2025), Shopify's pre-tax income has grown at a 185.6% compound annual growth rate (CAGR), from $185M to $1.51B.

What does pre-tax income mean?

Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

Shopify SHOP Pre-Tax Income

Pre-Tax Income at other companies

AdobeADBE

$2.24B+6.5%

eBayEBAY

$618M-1.7%

SalesforceCRM

$2.72B+37.8%

Global PaymentsGPN

-$224.5M-186%

EtsyETSY

$129.26M+986%

BlockXYZ

-$392.58M-273%

Other financials

Income statement

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Revenue$3.2B+34.3%

Gross profit$1.5B+32.2%

Operating income$382.0M+88.2%

Net income-$581.0M+14.8%

EPS (diluted)-$0.45+15.1%

Balance sheet

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Cash & equivalents$1.8B+41.2%

Total debt$179.0M-84.3%

Total equity$12.5B+13.1%

Total assets$14.1B+5.4%

Cash flow

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Operating cash flow$481.0M+31.1%

CapEx$5.0M+25.0%

Free cash flow$476.0M+31.1%

Valuation

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Market cap$151.64B+2.2%

Enterprise value$149.97B+1.3%

P/E113.9×+50.5×

P/S12.3×-2.6×

Profitability

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Gross margin48%-2.0pp

Operating margin13.3%+0.6pp

Net margin10.8%-6.4pp

FCF margin17.1%-1.3pp

Returns & leverage

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Return on equity11.3%-4.8pp

Debt / equity0×-0.1×

Current ratio6.2×+2.5×

Where this comes from

Reported directly by Shopify in its filing.

Tagged under the XBRL concept us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

The official record: Shopify’s 10-K, filed February 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Shopify's pre-tax income?: Shopify (SHOP) reported pre-tax income of $377.25M in Q4 2025.
How has Shopify's pre-tax income changed year-over-year?: Shopify's pre-tax income decreased by 32.3% year-over-year, from $557M to $377.25M.
What is the long-term trend for Shopify's pre-tax income?: Over 2 years (2023 to 2025), Shopify's pre-tax income has grown at a 185.6% compound annual growth rate (CAGR), from $185M to $1.51B.
What does pre-tax income mean?: Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.