Shopify (SHOP) EBITDA (2024 - 2026)
Shopify (SHOP) posted EBITDA of $488.0 million for Q2 2026, up 27.75% on a QoQ basis from $382.0 million in Q1 2026, and up 67.7% year-over-year from $291.0 million in Q2 2025.
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Analysis
Shopify (SHOP) EBITDA (2024 - 2026) Analysis & Trends
Shopify has reported EBITDA for 3 years, with the latest figure at $488.0 million in Q2 2026.
- On a quarterly basis, EBITDA rose 67.7% year-over-year to $488.0 million in Q2 2026; TTM through Jun 2026 was $1.8 billion, a 48.47% increase from a year earlier, with the FY2025 full-year figure at $1.5 billion, up 36.56% from the prior year.
- EBITDA was $488.0 million for Q2 2026 at Shopify, up from $382.0 million in the prior quarter.
- The five-year high for EBITDA was $631.0 million in Q4 2025, with the low at $86.0 million in Q1 2024.
- Average EBITDA over 3 years is $341.3 million, with a median of $317.0 million recorded in 2025.
- The largest YoY upside for EBITDA was 136.05% in 2025 against a maximum downside of 20.75% in 2025.
- Over 3 years, EBITDA stood at $465.0 million in 2024, then soared by 35.7% to $631.0 million in 2025, then retreated by 22.66% to $488.0 million in 2026.
- The last three EBITDA figures came in at $488.0 million (Q2 2026), $382.0 million (Q1 2026), and $631.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn | 47.87 Bn |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn | 25.13 Bn |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn | 4.29 Bn |
| 4 | Alibaba Group Holding | 254.92 Bn | 72.79 Bn | 15.11 Bn | - |
| 5 | Shopify | 184.25 Bn | 161.43 Bn | 1.71 Bn | 495.00 Mn |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn | 2.09 Bn |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - | 2.63 Bn |
| 8 | PDD Holdings | 110.41 Bn | -141.52 Bn | 9.45 Bn | - |
| 9 | Spotify Technology | 104.89 Bn | 62.12 Bn | 1.86 Bn | 348.71 Mn |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn | 1.53 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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();