Shopify (SHOP) EBIT Margin (2024 - 2026)
Shopify (SHOP) reported EBIT Margin of 13.62% for Q2 2026, up 2.76 percentage points from 10.86% a year earlier and up 1.57 percentage points from the prior quarter.
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Analysis
Shopify (SHOP) EBIT Margin (2024 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Shopify's EBIT Margin came in at 13.90%, up 1.49 percentage points year-over-year; for FY2025, it came in at 12.70%, up 0.60 percentage points from FY2024.
- EBIT Margin has a five-year change of +9.63 percentage points (FY2020 to FY2025).
- By year, EBIT Margin came in at 12.11% in FY2024 (+32.19 pp), -20.08% in FY2023 (-5.41 pp), -14.68% in FY2022 (-20.50 pp) and 5.83% in FY2021 (+2.75 pp).
- Five-year quarterly EBIT Margin spans a low of 4.62% in Q1 2024 and a high of 17.18% in Q4 2025.
- Year over year, EBIT Margin has now increased in each of the last three quarters, with an average year-over-year change of +1.48 percentage points over the last six quarters.
- Per Business Quant data, the three quarters before Q2 2026 came in at 12.05% (Q1 2026), 17.18% (Q4 2025) and 12.06% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBIT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,139.30 Bn | 3,896.82 Bn | 73.85 Bn | 34.03% |
| 2 | Meta Platforms | 1,802.48 Bn | 1,505.00 Bn | 49.47 Bn | 30.88% |
| 3 | Netflix | 295.38 Bn | 255.58 Bn | 6.52 Bn | 33.38% |
| 4 | Alibaba Group Holding | 253.00 Bn | 66.78 Bn | 15.11 Bn | 5.62% |
| 5 | Shopify | 219.40 Bn | 196.59 Bn | 1.71 Bn | 13.62% |
| 6 | Uber Technologies | 143.37 Bn | 115.17 Bn | 6.38 Bn | 13.32% |
| 7 | Booking Holdings | 125.53 Bn | 58.58 Bn | - | 34.00% |
| 8 | PDD Holdings | 113.03 Bn | -130.74 Bn | 9.45 Bn | 24.62% |
| 9 | Spotify Technology | 108.69 Bn | 66.19 Bn | 1.86 Bn | 13.71% |
| 10 | Airbnb | 102.92 Bn | 56.15 Bn | 2.98 Bn | 21.01% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.62% |
| Mar 31, 2026 | 12.05% |
| Dec 31, 2025 | 17.18% |
| Sep 30, 2025 | 12.06% |
| Jun 30, 2025 | 10.86% |
| Mar 31, 2025 | 8.60% |
| Dec 31, 2024 | 16.54% |
| Sep 30, 2024 | 13.09% |
| Jun 30, 2024 | 11.78% |
| Mar 31, 2024 | 4.62% |
API Access
Shopify EBIT Margin 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=ebit-margin&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebit-margin", "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=ebit-margin&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();