Shopify (SHOP) EBITDA (2024 - 2026)
Shopify's EBITDA came in at $575 million for Q3 2026, up 63.8% from $351 million a year earlier and up 16.2% from the prior quarter.
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Analysis
Shopify (SHOP) EBITDA (2024 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Shopify reported EBITDA of $2.1 billion, up 57.2% year-over-year; for FY2025, it was $1.5 billion, up 34.9% from FY2024.
- EBITDA carries a five-year compound annual growth rate of 54.7% (FY2020 to FY2025).
- Going back by year, EBITDA was $1.11 billion in FY2024, -$1.35 billion in FY2023, -$726.65 million in FY2022 and $337.29 million in FY2021 (+99.6%).
- The five-year range for quarterly EBITDA is $96 million (Q1 2024) to $638 million (Q4 2025).
- Year-over-year, EBITDA has increased for seven consecutive quarters, with growth averaging 58.3% over the last seven quarters.
- Business Quant data shows SHOP's EBITDA at $495 million (Q2 2026), $389 million (Q1 2026) and $638 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn | 48.95 Bn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn | 20.14 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn | 8.80 Bn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn | - |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn | 575.00 Mn |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn | 1.67 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn | 1.74 Bn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn | 844.41 Mn |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - | 3.60 Bn |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 575.00 Mn |
| Jun 30, 2026 | 495.00 Mn |
| Mar 31, 2026 | 389.00 Mn |
| Dec 31, 2025 | 638.00 Mn |
| Sep 30, 2025 | 351.00 Mn |
| Jun 30, 2025 | 299.00 Mn |
| Mar 31, 2025 | 211.00 Mn |
| Dec 31, 2024 | 473.00 Mn |
| Sep 30, 2024 | 291.00 Mn |
| Jun 30, 2024 | 251.00 Mn |
| Mar 31, 2024 | 96.00 Mn |
API Access
Shopify EBITDA 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=ebitda&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();