Shopify Inc. (SHOP) Earnings History
Annual and quarterly earnings data from 2013 to 2025
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EPS Growth Rates (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 48.1% | 12.7% | 10.7% |
| 2024 | 50.4% | 12.1% | 22.7% |
| 2023 | 49.8% | -20.1% | 1.9% |
| 2022 | 49.2% | -14.7% | -61.8% |
| 2021 | 53.8% | 5.8% | 63.2% |
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Shopify Inc. (SHOP) Earnings Overview
As of March 2, 2026, Shopify Inc. (SHOP) reported trailing twelve-month net income of $1.23B, reflecting -0.4% year-over-year growth. The company earned $0.94 per diluted share over the past four quarters, with a net profit margin of 0.1%.
Looking at the long-term picture, SHOP's 5-year EPS compound annual growth rate (CAGR) stands at +29.3%, indicating exceptional earnings growth. The company achieved its highest annual net income of $2.91B in fiscal 2021.
Shopify Inc. maintains positive profitability with a gross margin of 0.5%, operating margin of 0.1%, and net margin of 0.1%. The company continues to generate positive earnings from operations. View revenue history →
Compared to industry peers including GRAB ($267M net income, 0.1% margin), MANH ($220M net income, 0.2% margin), STUB (-$1.32B net income, -0.0% margin), SHOP has outperformed on profitability metrics. Compare SHOP vs GRAB →
Peer Comparison
Earnings metrics vs industry competitors
Historical Data
13 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.23B | -39.0% | $1.47B | $0.94 | 10.7% | 12.7% |
| 2024 | $2.02B | +1429.5% | $1.07B | $1.55 | 22.7% | 12.1% |
| 2023 | $132M | +103.8% | -$1.42B | $0.10 | 1.9% | -20.1% |
| 2022 | -$3.46B | -218.7% | -$822M | $-2.73 | -61.8% | -14.7% |
| 2021 | $2.91B | +812.2% | $269M | $2.27 | 63.2% | 5.8% |
| 2020 | $320M | +355.9% | $90M | $0.26 | 10.9% | 3.1% |
| 2019 | -$125M | -93.4% | -$141M | $-0.11 | -7.9% | -8.9% |
| 2018 | -$65M | -61.4% | -$92M | $-0.06 | -6.0% | -8.6% |
| 2017 | -$40M | -13.1% | -$49M | $-0.04 | -5.9% | -7.3% |
| 2016 | -$35M | -88.2% | -$37M | $-0.04 | -9.1% | -9.5% |
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Start ComparisonFrequently Asked Questions
Is SHOP growing earnings?
SHOP EPS of $0.94 reflects slowing growth at -0.4%, below the 5-year CAGR of +29.3%. TTM net income is $1.2B. Expansion rate has moderated.
What are SHOP's profit margins?
Shopify Inc. net margin is +0.1%, with operating margin at +0.1%. Below-average margins reflect competitive or cost pressures.
How consistent are SHOP's earnings?
SHOP earnings data spans 2013-2025. The current earnings trend is -0.4% YoY. Historical data enables comparison across business cycles.