Shopify (SHOP) Common Equity (2014 - 2026)
Shopify's Common Equity was $12.68 billion in Q2 2026, up 4.6% from $12.12 billion a year earlier and up 1.5% from the prior quarter.
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Analysis
Shopify (SHOP) Common Equity (2014 - 2026) Analysis & Trends
At the end of FY2025, Common Equity at Shopify came in at $13.47 billion, up 16.6% from FY2024.
- Common Equity has now increased for three consecutive years, with a five-year compound annual growth rate of 16.1% (FY2020 to FY2025).
- In earlier years, Common Equity was $11.56 billion in FY2024 (+27.5%), $9.07 billion in FY2023 (+10.0%), $8.24 billion in FY2022 (-26.0%) and $11.13 billion in FY2021 (+73.9%).
- Quarterly Common Equity has moved between $8.24 billion (Q4 2022) and $13.47 billion (Q4 2025) over five years.
- Compared with a year earlier, Common Equity has increased for seven straight quarters, with growth averaging 20.3% over the last seven quarters.
- The best year-over-year quarter for Common Equity over five years was Q4 2021 (growth of 73.9%); the worst was Q4 2022 (a decline of 26.0%).
- Per Business Quant data, SHOP's Common Equity in the three quarters before Q2 2026 was $12.5 billion (Q1 2026), $13.47 billion (Q4 2025) and $12.51 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Common Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,139.30 Bn | 3,896.82 Bn | 73.85 Bn | 640.48 Bn |
| 2 | Meta Platforms | 1,802.48 Bn | 1,505.00 Bn | 49.47 Bn | 261.22 Bn |
| 3 | Netflix | 295.38 Bn | 255.58 Bn | 6.52 Bn | 30.15 Bn |
| 4 | Alibaba Group Holding | 253.00 Bn | 66.78 Bn | 15.11 Bn | 163.05 Bn |
| 5 | Shopify | 219.40 Bn | 196.59 Bn | 1.71 Bn | 12.68 Bn |
| 6 | Uber Technologies | 143.37 Bn | 115.17 Bn | 6.38 Bn | 28.22 Bn |
| 7 | Booking Holdings | 125.53 Bn | 58.58 Bn | - | -10.78 Bn |
| 8 | PDD Holdings | 113.03 Bn | -130.74 Bn | 9.45 Bn | 66.00 Bn |
| 9 | Spotify Technology | 108.69 Bn | 66.19 Bn | 1.86 Bn | 9.58 Bn |
| 10 | Airbnb | 102.92 Bn | 56.15 Bn | 2.98 Bn | 7.80 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.68 Bn |
| Mar 31, 2026 | 12.50 Bn |
| Dec 31, 2025 | 13.47 Bn |
| Sep 30, 2025 | 12.51 Bn |
| Jun 30, 2025 | 12.12 Bn |
| Mar 31, 2025 | 11.05 Bn |
| Dec 31, 2024 | 11.56 Bn |
| Sep 30, 2024 | 10.12 Bn |
| Jun 30, 2024 | 9.17 Bn |
| Mar 31, 2024 | 8.89 Bn |
| Dec 31, 2023 | 9.07 Bn |
| Dec 31, 2022 | 8.24 Bn |
| Dec 31, 2021 | 11.13 Bn |
| Dec 31, 2020 | 6.40 Bn |
| Dec 31, 2019 | 3.02 Bn |
| Dec 31, 2018 | 2.09 Bn |
| Dec 31, 2017 | 1.00 Bn |
| Dec 31, 2016 | 410.48 Mn |
| Dec 31, 2015 | 195.32 Mn |
| Dec 31, 2014 | 67.73 Mn |
API Access
Shopify Common Equity 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=common-equity&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "common-equity", "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=common-equity&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();