Shopify (SHOP) Capital Expenditures (2024 - 2026)
Shopify (SHOP) posted Capital Expenditures of $4.0 million for Q2 2026, down 20.0% on a QoQ basis from $5.0 million in Q1 2026, and down 33.33% year-over-year from $6.0 million in Q2 2025.
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Analysis
Shopify (SHOP) Capital Expenditures (2024 - 2026) Analysis & Trends
Shopify has reported Capital Expenditures for 3 years, with the latest figure at $4.0 million in Q2 2026.
- On a quarterly basis, Capital Expenditures fell 33.33% year-over-year to $4.0 million in Q2 2026; TTM through Jun 2026 was $25.0 million, a 56.25% increase from a year earlier, with the FY2025 full-year figure at $26.0 million, up 36.84% from the prior year.
- Capital Expenditures was $4.0 million for Q2 2026 at Shopify, down from $5.0 million in the prior quarter.
- The five-year high for Capital Expenditures was $10.0 million in Q4 2025, with the low at $2.0 million in Q3 2024.
- Average Capital Expenditures over 3 years is $5.4 million, with a median of $5.5 million recorded in 2024.
- The largest YoY upside for Capital Expenditures was 200.0% in 2025 against a maximum downside of 33.33% in 2025.
- Over 3 years, Capital Expenditures stood at $4.0 million in 2024, then surged by 150.0% to $10.0 million in 2025, then slumped by 60.0% to $4.0 million in 2026.
- The last three Capital Expenditures figures came in at $4.0 million (Q2 2026), $5.0 million (Q1 2026), and $10.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn | 44.92 Bn |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn | 30.12 Bn |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn | 218.64 Mn |
| 4 | Alibaba Group Holding | 254.92 Bn | 72.79 Bn | 15.11 Bn | - |
| 5 | Shopify | 184.25 Bn | 161.43 Bn | 1.71 Bn | 4.00 Mn |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn | 70.00 Mn |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - | 76.00 Mn |
| 8 | PDD Holdings | 110.41 Bn | -141.52 Bn | 9.45 Bn | - |
| 9 | Spotify Technology | 104.89 Bn | 62.12 Bn | 1.86 Bn | -23.25 Mn |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.00 Mn |
| Mar 31, 2026 | 5.00 Mn |
| Dec 31, 2025 | 10.00 Mn |
| Sep 30, 2025 | 6.00 Mn |
| Jun 30, 2025 | 6.00 Mn |
| Mar 31, 2025 | 4.00 Mn |
| Dec 31, 2024 | 4.00 Mn |
| Sep 30, 2024 | 2.00 Mn |
| Jun 30, 2024 | 7.00 Mn |
| Mar 31, 2024 | 6.00 Mn |
API Access
Shopify Capital Expenditures API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=capital-expenditures&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures", "ticker": "SHOP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=capital-expenditures&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();