Shopify (SHOP) EBT Margin (2024 - 2026)
Shopify (SHOP) posted quarterly EBT Margin of 20.0% for Q1 2026, up 1263.0% year-over-year from 1.47% in Q1 2025, and down 182.33% quarter-over-quarter from 24.29% in Q4 2025.
Shopify (SHOP) EBT Margin (2024 - 2026) Analysis & Trends
Shopify's EBT Margin history runs 3 years deep, the most recent figure standing at 20.0% for Q1 2026.
- In Q1 2026, EBT Margin rose 1263.0% year-over-year to 20.0%; the TTM figure through Mar 2026 stood at 13.3% (down 497.0% YoY), while the FY2025 annual figure was 13.06%, down 1203.0% from the prior year.
- EBT Margin for Q1 2026 stood at 20.0%, down from 24.29% in the prior quarter.
- The five-year high for EBT Margin was 50.53% in Q4 2024, with the low at 32.63% in Q1 2025.
- The 3-year median for EBT Margin is 10.83% (2025), against an average of 12.14%.
- Peak annual rise in EBT Margin reached 3033 bps in 2025, while the deepest fall reached 2895 bps in 2025.
- Shopify's EBT Margin stood at 50.53% in 2024, then tumbled by 52 bps to 24.29% in 2025, then slumped by 182 bps to 20.0% in 2026.
- Business Quant data shows SHOP's EBT Margin at 20.0% in Q1 2026, 24.29% in Q4 2025, and 10.83% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 29.61% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 49.54% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 24.44% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 23.09% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 10.99% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | -21.33% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 22.98% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 33.82% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 47.29% |
| 10 | Datadog | 91.70 Bn | 86.71 Bn | 881.34 Mn | 4.61% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 49.54% |
| Mar 31, 2026 | -20.00% |
| Dec 31, 2025 | 24.29% |
| Sep 30, 2025 | 10.83% |
| Jun 30, 2025 | 40.26% |
| Mar 31, 2025 | -32.63% |
| Dec 31, 2024 | 50.53% |
| Sep 30, 2024 | 39.78% |
| Jun 30, 2024 | 9.93% |
| Mar 31, 2024 | -13.76% |