Shopify (SHOP) Cash from Operations (2024 - 2026)
Shopify (SHOP) posted Cash from Operations of $818 million for Q3 2026, up 59.5% from $513 million a year earlier and up 24.3% from the prior quarter.
Powered by 
Analysis
Shopify (SHOP) Cash from Operations (2024 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Cash from Operations at Shopify was $2.68 billion, up 39.5% year-over-year; for FY2025, it came in at $2.03 billion, up 25.8% from FY2024.
- Annual Cash from Operations shows a five-year compound annual growth rate of 36.8% (FY2020 to FY2025).
- In prior years, Shopify's Cash from Operations was $1.62 billion in FY2024 (+71.2%), $944 million in FY2023, -$136 million in FY2022 and $535.71 million in FY2021 (+26.1%).
- The Q3 2026 figure stands as the highest quarterly Cash from Operations in data going back to Q1 2024.
- On a year-over-year basis, Cash from Operations has increased in each of the last seven quarters, with growth averaging 37.6% over the last seven quarters.
- According to Business Quant data, Cash from Operations for the three prior quarters was $658 million (Q2 2026), $481 million (Q1 2026) and $725 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn | 42.29 Bn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn | 32.79 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn | 3.16 Bn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn | 3.38 Bn |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn | 818.00 Mn |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn | 2.64 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn | 1.43 Bn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn | 851.32 Mn |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - | 1.14 Bn |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn | 3.77 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 818.00 Mn |
| Jun 30, 2026 | 658.00 Mn |
| Mar 31, 2026 | 481.00 Mn |
| Dec 31, 2025 | 725.00 Mn |
| Sep 30, 2025 | 513.00 Mn |
| Jun 30, 2025 | 428.00 Mn |
| Mar 31, 2025 | 367.00 Mn |
| Dec 31, 2024 | 615.00 Mn |
| Sep 30, 2024 | 423.00 Mn |
| Jun 30, 2024 | 340.00 Mn |
| Mar 31, 2024 | 238.00 Mn |
API Access
Shopify Cash from Operations 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=cash-from-operations&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "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=cash-from-operations&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();