Shopify (SHOP) EBITDA Margin (2014 - 2026)
Shopify's quarterly EBITDA Margin came in at 18.49% in Q1 2026, up 1024.0% year-on-year from 1.64% in Q1 2025, and down 191.11% quarter-over-quarter from 20.29% in Q4 2025.
Shopify has reported EBITDA Margin for 10 years, with the latest figure at 18.49% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin rose 1024.0% year-over-year to 18.49%; the trailing twelve-month figure through Mar 2026 stood at 10.79% (down 636.0% YoY), and the FY2025 full-year result was 10.75%, down 1183.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 18.49%, down from 20.29% in the prior quarter.
- The five-year high for EBITDA Margin was 45.66% in Q4 2024, with the low at 28.73% in Q1 2025.
- Average EBITDA Margin over 3 years is 10.41%, with a median of 9.07% recorded in 2025.
- Peak annual rise in EBITDA Margin reached 2590 bps in 2025, while the deepest fall reached 2941 bps in 2025.
- Tracing SHOP's EBITDA Margin over 3 years: stood at 45.66% in 2024, then sank by 56 bps to 20.29% in 2025, then plunged by 191 bps to 18.49% in 2026.
- The last three EBITDA Margin figures came in at 18.49% (Q1 2026), 20.29% (Q4 2025), and 9.07% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 28.69% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 16.69% |
| 3 | Uber Technologies | 151.10 Bn | 150.06 Bn | 11.88 Bn | 14.56% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | -18.49% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 12.12% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 29.26% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 37.79% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | -22.99% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 46.97% |
| 10 | Datadog | 78.54 Bn | 73.78 Bn | 797.20 Mn | 0.73% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -18.49% |
| Dec 31, 2025 | 20.29% |
| Sep 30, 2025 | 9.07% |
| Jun 30, 2025 | 34.22% |
| Mar 31, 2025 | -28.73% |
| Dec 31, 2024 | 45.66% |
| Sep 30, 2024 | 38.48% |
| Jun 30, 2024 | 8.31% |
| Mar 31, 2024 | -15.10% |
| Mar 31, 2020 | -10.23% |
| Dec 31, 2019 | 0.81% |
| Sep 30, 2019 | -20.20% |
| Jun 30, 2019 | -6.06% |
| Mar 31, 2019 | -4.64% |
| Dec 31, 2018 | -3.50% |
| Sep 30, 2018 | -6.33% |
| Jun 30, 2018 | -11.57% |
| Mar 31, 2018 | -10.61% |
| Dec 31, 2017 | -2.88% |
| Sep 30, 2017 | -3.95% |
| Jun 30, 2017 | -6.20% |
| Mar 31, 2017 | -9.55% |
| Dec 31, 2016 | -7.83% |
| Sep 30, 2016 | -9.78% |
| Jun 30, 2016 | -9.83% |
| Mar 31, 2016 | -11.97% |
| Dec 31, 2015 | -8.99% |
| Sep 30, 2015 | -8.82% |
| Jun 30, 2015 | -7.34% |
| Mar 31, 2015 | -12.13% |
| Dec 31, 2014 | -12.78% |
| Sep 30, 2014 | -15.03% |
| Jun 30, 2014 | -29.73% |