Skip to content
Screener

Shopify SHOP Operating margin

Operating margin at other companies

Adobe logo
AdobeADBE
36.1%-0.3pp
eBay logo
eBayEBAY
19.6%-2.7pp
Salesforce logo
SalesforceCRM
20.4%+1.1pp
Global Payments logo
Global PaymentsGPN
15.3%-10.4pp
Etsy logo
EtsyETSY
14.3%+3.2pp
Block logo
BlockXYZ
4.9%+0.9pp

Other financials

Income statement

See full
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

See full
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

See full
Operating cash flow$481.0M+31.1%
CapEx$5.0M+25.0%
Free cash flow$476.0M+31.1%

Valuation

See full
Market cap$152.02B-6.4%
Enterprise value$150.35B-7.2%
P/E114.1×+44.9×
P/S12.3×-3.9×

Profitability

See full
Gross margin48%-2.0pp
Net margin10.8%-6.4pp
FCF margin17.1%-1.3pp

Returns & leverage

See full
Return on equity11.3%-4.8pp
Debt / equity-0.1×
Current ratio6.2×+2.5×

Where this comes from

Calculated from Shopify’s reported figures.

Based on trailing twelve months.

The source filing: Shopify’s 10-Q, filed May 5, 2026. Open the filing →

Filed
May 5, 2026, 7:19 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001594805-26-000019

FAQ

What is Shopify's operating margin?
Shopify (SHOP) reported operating margin of 13.3% in Q1 2026.
How has Shopify's operating margin changed year-over-year?
Shopify's operating margin increased by 4.8% year-over-year, from 12.7% to 13.3%.
What is the long-term trend for Shopify's operating margin?
Over 3 years (2022 to 2025), Shopify's operating margin has grown at a -4.7% compound annual growth rate (CAGR), from -14.7% to 12.7%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Ask your AI about Shopify's operating margin.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI
Harbor at dusk
Claude