Shopify (SHOP) Capital Expenditures (2024 - 2026)
Shopify (SHOP) recorded Capital Expenditures of $4 million in Q2 2026, down 33.3% from $6 million a year earlier and down 20.0% from the prior quarter.
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Analysis
Shopify (SHOP) Capital Expenditures (2024 - 2026) Analysis & Trends
On a TTM basis, Shopify's Capital Expenditures came in at $25 million as of Jun 30, 2026, up 56.3% year-over-year; for FY2025, it came in at $26 million, up 36.8% from FY2024.
- Annual Capital Expenditures has a five-year compound annual growth rate of -9.0% (FY2020 to FY2025).
- Across earlier years, Capital Expenditures came in at $19 million in FY2024 (-51.3%), $39 million in FY2023 (-22.0%), $50 million in FY2022 (-1.6%) and $50.79 million in FY2021 (+21.7%).
- Quarterly Capital Expenditures has ranged from $2 million in Q3 2024 to $10 million in Q4 2025 over the past five years.
- On a year-over-year basis, Capital Expenditures rose in three of the last six quarters, with growth averaging 49.0%.
- Per Business Quant, the preceding three quarters came in at $5 million (Q1 2026), $10 million (Q4 2025) and $6 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,139.30 Bn | 3,896.82 Bn | 73.85 Bn | 44.92 Bn |
| 2 | Meta Platforms | 1,802.48 Bn | 1,505.00 Bn | 49.47 Bn | 30.12 Bn |
| 3 | Netflix | 295.38 Bn | 255.58 Bn | 6.52 Bn | 218.64 Mn |
| 4 | Alibaba Group Holding | 253.00 Bn | 66.78 Bn | 15.11 Bn | -9.97 Bn |
| 5 | Shopify | 219.40 Bn | 196.59 Bn | 1.71 Bn | 4.00 Mn |
| 6 | Uber Technologies | 143.37 Bn | 115.17 Bn | 6.38 Bn | 70.00 Mn |
| 7 | Booking Holdings | 125.53 Bn | 58.58 Bn | - | 76.00 Mn |
| 8 | PDD Holdings | 113.03 Bn | -130.74 Bn | 9.45 Bn | - |
| 9 | Spotify Technology | 108.69 Bn | 66.19 Bn | 1.86 Bn | -23.25 Mn |
| 10 | Airbnb | 102.92 Bn | 56.15 Bn | 2.98 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();