Shopify (SHOP) Retained Earnings (2014 - 2026)
Shopify's Retained Earnings came in at $4.24 billion for Q3 2026, up 100.4% from $2.12 billion a year earlier and up 12.2% from the prior quarter.
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Analysis
Shopify (SHOP) Retained Earnings (2014 - 2026) Analysis & Trends
At the end of FY2025, Shopify's Retained Earnings was $2.86 billion, up 75.6% from FY2024.
- Retained Earnings carries a five-year compound annual growth rate of 184.7% (FY2020 to FY2025).
- Going back by year, Retained Earnings was $1.63 billion in FY2024, -$390 million in FY2023, -$522 million in FY2022 and $2.94 billion in FY2021.
- The Q3 2026 figure represents the highest quarterly Retained Earnings in data going back to Q4 2014.
- Year-over-year, Retained Earnings has increased for four consecutive quarters, with growth averaging 105.2% over the last four quarters.
- Business Quant data shows SHOP's Retained Earnings at $3.78 billion (Q2 2026), $2.28 billion (Q1 2026) and $2.86 billion (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Retained Earnings (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn | 516.78 Bn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn | 165.34 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn | 54.63 Bn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn | 103.45 Bn |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn | 4.24 Bn |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn | -7.38 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn | 2.73 Bn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn | 1.12 Bn |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - | 45.45 Bn |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn | 47.74 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.24 Bn |
| Jun 30, 2026 | 3.78 Bn |
| Mar 31, 2026 | 2.28 Bn |
| Dec 31, 2025 | 2.86 Bn |
| Sep 30, 2025 | 2.12 Bn |
| Jun 30, 2025 | 1.85 Bn |
| Mar 31, 2025 | 947.00 Mn |
| Dec 31, 2024 | 1.63 Bn |
| Dec 31, 2023 | -390.00 Mn |
| Dec 31, 2022 | -522.00 Mn |
| Dec 31, 2021 | 2.94 Bn |
| Dec 31, 2020 | 15.29 Mn |
| Dec 31, 2019 | -304.22 Mn |
| Dec 31, 2018 | -187.76 Mn |
| Dec 31, 2017 | -123.20 Mn |
| Dec 31, 2016 | -83.21 Mn |
| Dec 31, 2015 | -47.85 Mn |
| Dec 31, 2014 | -29.06 Mn |
API Access
Shopify Retained Earnings 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=retained-earnings&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "retained-earnings", "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=retained-earnings&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();