Shopify (SHOP) Operating Leases (2018 - 2026)
Shopify (SHOP) posted Operating Leases of $168 million for Q2 2026, down 16.0% from $200 million a year earlier but up 3.1% from the prior quarter.
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Analysis
Shopify (SHOP) Operating Leases (2018 - 2026) Analysis & Trends
At the end of FY2025, Shopify's Operating Leases came in at $171 million, down 10.0% from FY2024.
- Annual Operating Leases has declined for three consecutive years, though with a five-year compound annual growth rate of 3.4% (FY2020 to FY2025).
- In prior years, Shopify's Operating Leases was $190 million in FY2024 (-12.4%), $217 million in FY2023 (-53.3%), $465 million in FY2022 (+88.4%) and $246.78 million in FY2021 (+70.4%).
- Quarterly Operating Leases has run from a low of $163 million in Q1 2026 to a high of $465 million in Q4 2022 over five years.
- On a year-over-year basis, Operating Leases has declined in each of the last three quarters, with an average decline of 14.2% over the last four quarters.
- According to Business Quant data, Operating Leases for the three prior quarters was $163 million (Q1 2026), $171 million (Q4 2025) and $176 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,139.30 Bn | 3,896.82 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,802.48 Bn | 1,505.00 Bn | 49.47 Bn |
| 3 | Netflix | 295.38 Bn | 255.58 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 253.00 Bn | 66.78 Bn | 15.11 Bn |
| 5 | Shopify | 219.40 Bn | 196.59 Bn | 1.71 Bn |
| 6 | Uber Technologies | 143.37 Bn | 115.17 Bn | 6.38 Bn |
| 7 | Booking Holdings | 125.53 Bn | 58.58 Bn | - |
| 8 | PDD Holdings | 113.03 Bn | -130.74 Bn | 9.45 Bn |
| 9 | Spotify Technology | 108.69 Bn | 66.19 Bn | 1.86 Bn |
| 10 | Airbnb | 102.92 Bn | 56.15 Bn | 2.98 Bn |
Historic Data
Download Data
Historic 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 |
API Access
Shopify Operating Leases 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=operating-leases&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "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=operating-leases&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();