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Shopify (SHOP) Operating Leases (2018 - 2026)

Shopify (SHOP) has disclosed Operating Leases for 8 consecutive years, with $171.0 million as the latest value for Q4 2025.

  • For Q4 2025, Operating Leases fell 10.0% year-over-year to $171.0 million; the TTM value through Dec 2025 reached $171.0 million, down 10.0%, while the annual FY2025 figure was $171.0 million, 10.0% down from the prior year.
  • Operating Leases hit $171.0 million in Q4 2025 for Shopify, down from $176.0 million in the prior quarter.
  • Across five years, Operating Leases topped out at $465.0 million in Q4 2022 and bottomed at $171.0 million in Q4 2025.
  • Average Operating Leases over 5 years is $233.2 million, with a median of $200.0 million recorded in 2025.
  • Year-over-year, Operating Leases skyrocketed 88.43% in 2022 and then tumbled 53.33% in 2023.
  • Shopify's Operating Leases stood at $246.8 million in 2021, then surged by 88.43% to $465.0 million in 2022, then crashed by 53.33% to $217.0 million in 2023, then fell by 12.44% to $190.0 million in 2024, then dropped by 10.0% to $171.0 million in 2025.
  • According to Business Quant data, Operating Leases over the past three periods came in at $171.0 million, $176.0 million, and $200.0 million for Q4 2025, Q3 2025, and Q2 2025 respectively.