Shopify (SHOP) Net Margin (2024 - 2026)

Shopify has reported Net Margin for 3 years, with the latest figure at 41.92% in Q2 2026.

• On a quarterly basis, Net Margin rose 811.0% year-over-year to 41.92% in Q2 2026; TTM through Jun 2026 was 14.53%, a 889.0% decrease from a year earlier, with the FY2025 full-year figure at 10.65%, down 1208.0% from the prior year.
• Net Margin was 41.92% for Q2 2026 at Shopify, up from 18.33% in the prior quarter.
• The five-year high for Net Margin was 45.98% in Q4 2024, with the low at 28.9% in Q1 2025.
• Average Net Margin over 3 years is 13.6%, with a median of 14.76% recorded in 2025.
• The largest YoY upside for Net Margin was 2544 bps in 2025 against a maximum downside of 2902 bps in 2025.
• Over 3 years, Net Margin stood at 45.98% in 2024, then sank by 56 bps to 20.23% in 2025, then jumped by 107 bps to 41.92% in 2026.
• The last three Net Margin figures came in at 41.92% (Q2 2026), 18.33% (Q1 2026), and 20.23% (Q4 2025), per Business Quant data.