Shopify (SHOP) FCF Margin (2014 - 2026)
Shopify's quarterly FCF Margin came in at 15.02% in Q1 2026, down 37.0% year-on-year from 23.83% in Q1 2025, and down 22.88% quarter-over-quarter from 19.47% in Q4 2025.
Shopify has reported FCF Margin for 10 years, with the latest figure at 15.02% in Q1 2026.
- For the quarter ending Q1 2026, FCF Margin fell 37.0% year-over-year to 15.02%; the trailing twelve-month figure through Mar 2026 stood at 17.14% (down 128.0% YoY), and the FY2025 full-year result was 17.37%, down 62.0% from the prior year.
- FCF Margin for Q1 2026 stood at 15.02%, down from 19.47% in the prior quarter.
- The five-year high for FCF Margin was 21.73% in Q4 2024, with the low at 12.47% in Q1 2024.
- Average FCF Margin over 3 years is 17.04%, with a median of 16.28% recorded in 2024.
- Peak annual rise in FCF Margin reached 291 bps in 2025, while the deepest fall reached 226 bps in 2025.
- Tracing SHOP's FCF Margin over 3 years: stood at 21.73% in 2024, then decreased by 10 bps to 19.47% in 2025, then declined by 23 bps to 15.02% in 2026.
- The last three FCF Margin figures came in at 15.02% (Q1 2026), 19.47% (Q4 2025), and 17.83% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 36.77% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 47.52% |
| 3 | Uber Technologies | 151.10 Bn | 150.06 Bn | 11.88 Bn | 17.31% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 15.02% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 41.64% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 20.82% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 45.65% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | 36.83% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 61.18% |
| 10 | Datadog | 78.54 Bn | 73.78 Bn | 797.20 Mn | 32.12% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 15.02% |
| Dec 31, 2025 | 19.47% |
| Sep 30, 2025 | 17.83% |
| Jun 30, 2025 | 15.75% |
| Mar 31, 2025 | 15.38% |
| Dec 31, 2024 | 21.73% |
| Sep 30, 2024 | 19.47% |
| Jun 30, 2024 | 16.28% |
| Mar 31, 2024 | 12.47% |
| Mar 31, 2020 | -14.51% |
| Dec 31, 2019 | 9.94% |
| Sep 30, 2019 | -4.29% |
| Jun 30, 2019 | 12.14% |
| Mar 31, 2019 | 10.58% |
| Dec 31, 2018 | 3.70% |
| Sep 30, 2018 | 3.03% |
| Jun 30, 2018 | 3.58% |
| Mar 31, 2018 | 1.65% |
| Dec 31, 2017 | 10.52% |
| Sep 30, 2017 | -1.05% |
| Jun 30, 2017 | -4.09% |
| Mar 31, 2017 | 5.21% |
| Dec 31, 2016 | 8.74% |
| Jun 30, 2016 | 14.88% |
| Mar 31, 2016 | 4.63% |
| Dec 31, 2015 | 14.41% |
| Sep 30, 2015 | 11.90% |
| Jun 30, 2015 | 20.91% |
| Mar 31, 2015 | 17.38% |
| Dec 31, 2014 | 39.23% |
| Sep 30, 2014 | 16.23% |