Shopify (SHOP) EBT Margin (2024 - 2026)
Shopify (SHOP) posted EBT Margin of 49.54% for Q2 2026, up 347.7% on a QoQ basis from 20.0% in Q1 2026, and up 928.0% year-over-year from 4.82% in Q2 2025.
Powered by 
Analysis
Shopify (SHOP) EBT Margin (2024 - 2026) Analysis & Trends
Shopify has reported EBT Margin for 3 years, with the latest figure at 49.54% in Q2 2026.
- On a quarterly basis, EBT Margin rose 928.0% year-over-year to 49.54% in Q2 2026; TTM through Jun 2026 was 17.64%, a 822.0% decrease from a year earlier, with the FY2025 full-year figure at 13.06%, down 1203.0% from the prior year.
- EBT Margin was 49.54% for Q2 2026 at Shopify, up from 20.0% 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.
- Average EBT Margin over 3 years is 15.88%, with a median of 17.56% recorded in 2025.
- The largest YoY upside for EBT Margin was 3033 bps in 2025 against a maximum downside of 2895 bps in 2025.
- Over 3 years, EBT Margin stood at 50.53% in 2024, then tumbled by 52 bps to 24.29% in 2025, then soared by 104 bps to 49.54% in 2026.
- The last three EBT Margin figures came in at 49.54% (Q2 2026), 20.0% (Q1 2026), and 24.29% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn | 115.82% |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn | 30.85% |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn | 32.39% |
| 4 | Alibaba Group Holding | 254.92 Bn | 72.79 Bn | 15.11 Bn | 14.55% |
| 5 | Shopify | 184.25 Bn | 161.43 Bn | 1.71 Bn | 49.54% |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn | 23.09% |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - | 34.82% |
| 8 | PDD Holdings | 110.41 Bn | -141.52 Bn | 9.45 Bn | 36.60% |
| 9 | Spotify Technology | 104.89 Bn | 62.12 Bn | 1.86 Bn | 15.07% |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn | 78.26% |
Historic Data
Download Data
Historic 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% |
API Access
Shopify EBT 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=ebt-margin&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt-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=ebt-margin&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();