Shopify (SHOP) Exchange Rate Effect (2024 - 2026)
Shopify (SHOP) recorded quarterly Exchange Rate Effect of -$3.0 million in Q1 2026, down 50.0% quarter-over-quarter from -$2.0 million in Q4 2025, and down 175.0% on a YoY basis from $4.0 million in Q1 2025.
Shopify (SHOP) Exchange Rate Effect (2024 - 2026) Analysis & Trends
Shopify's Exchange Rate Effect history runs 3 years deep, the most recent figure standing at -$3.0 million for Q1 2026.
- In Q1 2026, Exchange Rate Effect fell 175.0% year-over-year to -$3.0 million; the TTM figure through Mar 2026 stood at $8.0 million (up 300.0% YoY), while the FY2025 annual figure was $15.0 million, up 350.0% from the prior year.
- Exchange Rate Effect was -$3.0 million for Q1 2026 at Shopify, down from -$2.0 million in the prior quarter.
- In the past five years, Exchange Rate Effect ranged from a high of $13.0 million in Q2 2025 to a low of -$12.0 million in Q4 2024.
- Historically, Exchange Rate Effect has averaged $750000.0 across 3 years, with a median of -$1.5 million in 2024.
- The sharpest annual moves came in 2025 and 2026: Exchange Rate Effect surged 1400.0% in 2025, then plunged 175.0% in 2026.
- A 3-year view of Exchange Rate Effect shows it stood at -$12.0 million in 2024, then soared by 83.33% to -$2.0 million in 2025, then tumbled by 50.0% to -$3.0 million in 2026.
- The last three Exchange Rate Effect figures came in at -$3.0 million (Q1 2026), -$2.0 million (Q4 2025), and $13.0 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FX Effect (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 148.68 Mn |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | -4.02 Mn |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | -24.00 Mn |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | -3.00 Mn |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 11.00 Mn |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | -12.97 Mn |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | -5.00 Mn |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | -42.50 Mn |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | -9.00 Mn |
| 10 | Snowflake | 82.57 Bn | 79.61 Bn | 926.45 Mn | -2.82 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -3.00 Mn |
| Mar 31, 2026 | -3.00 Mn |
| Dec 31, 2025 | -2.00 Mn |
| Dec 31, 2025 | -2.00 Mn |
| Jun 30, 2025 | 13.00 Mn |
| Jun 30, 2025 | 13.00 Mn |
| Mar 31, 2025 | 4.00 Mn |
| Mar 31, 2025 | 4.00 Mn |
| Dec 31, 2024 | -12.00 Mn |
| Dec 31, 2024 | -12.00 Mn |
| Sep 30, 2024 | 11.00 Mn |
| Sep 30, 2024 | 11.00 Mn |
| Jun 30, 2024 | -1.00 Mn |
| Jun 30, 2024 | -1.00 Mn |
| Mar 31, 2024 | -4.00 Mn |
| Mar 31, 2024 | -4.00 Mn |