Shopify (SHOP) Operating Leases (2018 - 2026)
Shopify (SHOP) posted quarterly Operating Leases of $163.0 million for Q1 2026, down 18.5% year-over-year from $200.0 million in Q1 2025, and down 4.68% quarter-over-quarter from $171.0 million in Q4 2025.
Shopify (SHOP) Operating Leases (2018 - 2026) Analysis & Trends
Shopify's Operating Leases history runs 9 years deep, the most recent figure standing at $163.0 million for Q1 2026.
- In Q1 2026, Operating Leases fell 18.5% year-over-year to $163.0 million; the TTM figure through Mar 2026 stood at $163.0 million (down 18.5% YoY), while the FY2025 annual figure was $171.0 million, down 10.0% from the prior year.
- Operating Leases for Q1 2026 stood at $163.0 million, down from $171.0 million in the prior quarter.
- The five-year high for Operating Leases was $465.0 million in Q4 2022, with the low at $163.0 million in Q1 2026.
- The 5-year median for Operating Leases is $195.0 million (2024), against an average of $222.8 million.
- The sharpest annual moves came in 2022 and 2023: Operating Leases surged 88.43% in 2022, then tumbled 53.33% in 2023.
- Shopify's Operating Leases stood at $465.0 million in 2022, then sank by 53.33% to $217.0 million in 2023, then retreated by 12.44% to $190.0 million in 2024, then declined by 10.0% to $171.0 million in 2025, then declined by 4.68% to $163.0 million in 2026.
- Business Quant data shows SHOP's Operating Leases at $163.0 million in Q1 2026, $171.0 million in Q4 2025, and $176.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn |
| 10 | Datadog | 91.70 Bn | 86.71 Bn | 881.34 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 168.00 Mn |
| Mar 31, 2026 | 163.00 Mn |
| Dec 31, 2025 | 171.00 Mn |
| Sep 30, 2025 | 176.00 Mn |
| Jun 30, 2025 | 200.00 Mn |
| Mar 31, 2025 | 200.00 Mn |
| Dec 31, 2024 | 190.00 Mn |
| Dec 31, 2023 | 217.00 Mn |
| Dec 31, 2022 | 465.00 Mn |
| Dec 31, 2021 | 246.78 Mn |
| Dec 31, 2020 | 144.84 Mn |
| Dec 31, 2019 | 142.64 Mn |
| Dec 31, 2018 | 22.32 Mn |