Non-Current Assets
PP&E (Net)
Shopify PP&E (Net) increased by 1.9% to $54M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 17.4%, from $46M to $54M. Over 2 years (FY 2023 to FY 2025), PP&E (Net) shows relatively stable performance with a 4.0% CAGR.
Analysis
StatementBalance Sheet Statement
SectionNon-Current Assets
CategoryCapital Allocation
SignalContext dependent
VolatilityStable
First reportedQ4 2023
Last reportedQ1 2026May 5, 2026
How to read this metric
Increasing levels suggest ongoing investment in infrastructure, while decreasing levels may indicate asset divestiture or high depreciation.
Detailed definition
This represents the net book value of tangible long-lived assets, such as office facilities, data center hardware, and c...
Peer comparison
Varies by business model; asset-light software companies typically have lower ratios compared to hardware-heavy firms.
Metric ID:
property_plant_equipment_netHistorical Data
7 periods
| Q4 '23 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|
| Value | $49M | $47M | $46M | $46M | $51M | $53M | $54M |
| QoQ Change | — | -4.1% | -2.1% | +0.0% | +10.9% | +3.9% | +1.9% |
| YoY Change | — | -4.1% | — | — | — | +12.8% | +17.4% |
Range$46M – $54M
CAGR+6.7%
Avg YoY Growth+8.7%
Median YoY Growth+12.8%
Current Streak4 quarters growth
PP&E (Net) at Other Companies
Frequently Asked Questions
- What is Shopify's pp&e (net)?
- Shopify (SHOP) reported pp&e (net) of $54M in Q1 2026.
- How has Shopify's pp&e (net) changed year-over-year?
- Shopify's pp&e (net) increased by 17.4% year-over-year, from $46M to $54M.
- What is the long-term trend for Shopify's pp&e (net)?
- Over 2 years (2023 to 2025), Shopify's pp&e (net) has grown at a 4.0% compound annual growth rate (CAGR), from $49M to $53M.
- What does pp&e (net) mean?
- The value of the company's physical assets like buildings and equipment, minus wear and tear.