Shopify (SHOP) Net Cash Flow (2024 - 2026)
Shopify's Net Cash Flow came in at $211 million for Q3 2026, down 75.8% from $872 million a year earlier.
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Analysis
Shopify (SHOP) Net Cash Flow (2024 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Shopify reported Net Cash Flow of -$538 million; for FY2025, it came in at $32 million, down 64.8% from FY2024.
- Net Cash Flow carries a five-year compound annual growth rate of -56.5% (FY2020 to FY2025).
- Going back by year, Net Cash Flow was $91 million in FY2024, -$240 million in FY2023, -$837 million in FY2022 and -$193.6 million in FY2021.
- The five-year range for quarterly Net Cash Flow is -$867 million (Q4 2025) to $872 million (Q3 2025).
- Business Quant data shows SHOP's Net Cash Flow at -$188 million (Q2 2026), $306 million (Q1 2026) and -$867 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | NCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn | 378.00 Mn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn | -4.93 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn | -924.00 Mn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn | 1.98 Bn |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn | 211.00 Mn |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn | 5.02 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn | 120.85 Mn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn | 93.18 Mn |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - | -1.46 Bn |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn | 836.52 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 211.00 Mn |
| Jun 30, 2026 | -188.00 Mn |
| Mar 31, 2026 | 306.00 Mn |
| Dec 31, 2025 | -867.00 Mn |
| Sep 30, 2025 | 872.00 Mn |
| Jun 30, 2025 | 220.00 Mn |
| Mar 31, 2025 | -193.00 Mn |
| Dec 31, 2024 | 3.00 Mn |
| Sep 30, 2024 | -45.00 Mn |
| Jun 30, 2024 | -81.00 Mn |
| Mar 31, 2024 | 214.00 Mn |
API Access
Shopify Net Cash Flow 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=net-cash-flow&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-cash-flow", "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=net-cash-flow&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();