What is Shopify's income tax?

Shopify (SHOP) reported income tax of -$53M in Q1 2026.

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

Shopify's income tax increased by 39.8% year-over-year, from -$88M to -$53M.

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

Over 3 years (2022 to 2025), Shopify's income tax has grown at a 19.5% compound annual growth rate (CAGR), from -$163M to $278M.

What does income tax mean?

Total income tax expense (current + deferred) recognized in the income statement, representing the company's total tax obligation on pre-tax income.

Shopify SHOP Income Tax

Income Tax at other companies

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$526M+28.3%

eBayEBAY

$106M-17.2%

SalesforceCRM

$614M+41.8%

Global PaymentsGPN

-$11.84M-127%

EtsyETSY

$24.6M+20.0%

BlockXYZ

-$83.98M-319%

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:IncomeTaxExpenseBenefit.

The official record: Shopify’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Shopify's income tax?: Shopify (SHOP) reported income tax of -$53M in Q1 2026.
How has Shopify's income tax changed year-over-year?: Shopify's income tax increased by 39.8% year-over-year, from -$88M to -$53M.
What is the long-term trend for Shopify's income tax?: Over 3 years (2022 to 2025), Shopify's income tax has grown at a 19.5% compound annual growth rate (CAGR), from -$163M to $278M.
What does income tax mean?: Total income tax expense (current + deferred) recognized in the income statement, representing the company's total tax obligation on pre-tax income.