Shopify (SHOP) Deferred Taxes (2024 - 2026)
Shopify (SHOP) posted Deferred Taxes of -$165.0 million for Q2 2026, down 218.71% on a QoQ basis from $139.0 million in Q1 2026, and down 68.37% year-over-year from -$521.6 million in Q2 2025.
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Analysis
Shopify (SHOP) Deferred Taxes (2024 - 2026) Analysis & Trends
Shopify has reported Deferred Taxes for 3 years, with the latest figure at -$165.0 million in Q2 2026.
- On a quarterly basis, Deferred Taxes fell 68.37% year-over-year to -$165.0 million in Q2 2026; TTM through Jun 2026 was -$43.0 million, a 2.27% increase from a year earlier, with the FY2025 full-year figure at $14.0 million, up 117.95% from the prior year.
- Deferred Taxes was -$165.0 million for Q2 2026 at Shopify, down from $139.0 million in the prior quarter.
- The five-year high for Deferred Taxes was $139.0 million in Q1 2026, with the low at -$165.0 million in Q2 2026.
- Average Deferred Taxes over 3 years is -$9.0 million, with a median of -$2.5 million recorded in 2024.
- The largest YoY upside for Deferred Taxes was 13000.0% in 2025 against a maximum downside of 4800.0% in 2025.
- Over 3 years, Deferred Taxes stood at -$72.0 million in 2024, then surged by 69.44% to -$22.0 million in 2025, then slumped by 650.0% to -$165.0 million in 2026.
- The last three Deferred Taxes figures came in at -$165.0 million (Q2 2026), $139.0 million (Q1 2026), and -$22.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Deferred Taxes (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn | 20.62 Bn |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn | 1.45 Bn |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn | 81.26 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 | -165.00 Mn |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn | 665.00 Mn |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - | 18.00 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 | 203.41 Mn |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -165.00 Mn |
| Mar 31, 2026 | 139.00 Mn |
| Dec 31, 2025 | -22.00 Mn |
| Sep 30, 2025 | 5.00 Mn |
| Jun 30, 2025 | -98.00 Mn |
| Mar 31, 2025 | 129.00 Mn |
| Dec 31, 2024 | -72.00 Mn |
| Sep 30, 2024 | -3.00 Mn |
| Jun 30, 2024 | -2.00 Mn |
| Mar 31, 2024 | -1.00 Mn |
API Access
Shopify Deferred Taxes 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=deferred-taxes&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "deferred-taxes", "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=deferred-taxes&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();