Shopify (SHOP) FCF Margin (2013 - 2025)

Shopify's FCF Margin history runs 13 years deep, the most recent figure standing at 17.37% for FY2025.

• In Q1 2026, FCF Margin fell 37.0% year-over-year to 15.02%; the TTM figure through Mar 2026 stood at 17.14% (down 128.0% YoY), while the FY2025 annual figure was 17.37%, down 62.0% from the prior year.
• FCF Margin for FY2025 stood at 17.37%, down from 17.98% in the prior year.
• The five-year high for FCF Margin was 17.98% in FY2024, with the low at 3.32% in FY2022.
• The 5-year median for FCF Margin is 12.82% (2023), against an average of 11.07%.
• The sharpest annual moves came in 2022 and 2023: FCF Margin tumbled 1384 bps in 2022, then jumped 1614 bps in 2023.
• Shopify's FCF Margin stood at 10.51% in 2021, then plunged by 132 bps to 3.32% in 2022, then jumped by 486 bps to 12.82% in 2023, then soared by 40 bps to 17.98% in 2024, then retreated by 3 bps to 17.37% in 2025.
• Business Quant data shows SHOP's FCF Margin at 17.37% in FY2025, 17.98% in FY2024, and 12.82% in FY2023.