Equity
Retained Earnings
Shopify Retained Earnings decreased by 20.3% to $2.28B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 140.7%, from $947M to $2.28B. Over 2 years (FY 2023 to FY 2025), Retained Earnings shows an upward trend with a 170.8% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
StatementBalance Sheet Statement
SectionEquity
CategoryProfitability
SignalHigher is better
VolatilityStable
First reportedQ4 2023
Last reportedQ1 2026May 5, 2026
How to read this metric
A steady increase signals consistent profitability and effective capital reinvestment, while a decrease may indicate losses or significant dividend payouts.
Detailed definition
This represents the cumulative net income earned by the company since its inception, minus any dividends paid to shareho...
Peer comparison
Typically grows over time for mature, profitable companies; may be negative for early-stage growth companies.
Metric ID:
retained_earningsHistorical Data
7 periods
| Q4 '23 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|
| Value | -$390M | $1.63B | $947M | $1.85B | $2.12B | $2.86B | $2.28B |
| QoQ Change | — | +517.7% | -41.9% | +95.7% | +14.2% | +35.1% | -20.3% |
| YoY Change | — | +517.7% | — | — | — | +75.6% | +140.7% |
Range-$390M – $2.86B
CAGR+224.4%
Avg YoY Growth+244.6%
Median YoY Growth+140.7%
Retained Earnings at Other Companies
Frequently Asked Questions
- What is Shopify's retained earnings?
- Shopify (SHOP) reported retained earnings of $2.28B in Q1 2026.
- How has Shopify's retained earnings changed year-over-year?
- Shopify's retained earnings increased by 140.7% year-over-year, from $947M to $2.28B.
- What is the long-term trend for Shopify's retained earnings?
- Over 2 years (2023 to 2025), Shopify's retained earnings has grown at a 170.8% compound annual growth rate (CAGR), from -$390M to $2.86B.
- What does retained earnings mean?
- The total profits the company has kept and reinvested since it started.