Shopify (SHOP) Return on Capital Employed (2015 - 2026)
Shopify's quarterly Return on Capital Employed came in at 12.4% in Q1 2026, up 217.0% year-on-year from 3.91% in Q1 2025, and up 15.89% quarter-over-quarter from 10.7% in Q4 2025.
Shopify has reported Return on Capital Employed for 10 years, with the latest figure at 12.4% in Q1 2026.
- For the quarter ending Q1 2026, Return on Capital Employed rose 217.0% year-over-year to 12.4%; the trailing twelve-month figure through Mar 2026 stood at 12.4% (up 217.0% YoY), and the FY2025 full-year result was 11.15%, up 106.0% from the prior year.
- Return on Capital Employed for Q1 2026 stood at 12.4%, up from 10.7% in the prior quarter.
- The five-year high for Return on Capital Employed was 12.4% in Q1 2026, with the low at 8.52% in Q4 2022.
- Average Return on Capital Employed over 3 years is 7.6%, with a median of 10.39% recorded in 2025.
- Year-over-year, Return on Capital Employed slumped 1091 bps in 2022 and jumped 217 bps in 2026.
- Tracing SHOP's Return on Capital Employed over 3 years: stood at 8.52% in 2022, then jumped by 226 bps to 10.7% in 2025, then rose by 16 bps to 12.4% in 2026.
- The last three Return on Capital Employed figures came in at 12.4% (Q1 2026), 10.7% (Q4 2025), and 10.34% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 40.19% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 12.51% |
| 3 | Uber Technologies | 147.39 Bn | 146.35 Bn | 11.88 Bn | 12.81% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 12.40% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 12.32% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 17.43% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 49.21% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | -20.99% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 23.43% |
| 10 | Datadog | 78.54 Bn | 73.78 Bn | 797.20 Mn | -0.48% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 12.40% |
| Dec 31, 2025 | 10.70% |
| Sep 30, 2025 | 10.34% |
| Jun 30, 2025 | 10.43% |
| Mar 31, 2025 | 10.23% |
| Dec 31, 2022 | -8.52% |
| Dec 31, 2021 | 2.39% |
| Dec 31, 2020 | 3,766.25% |
| Mar 31, 2020 | -5.89% |
| Dec 31, 2019 | -4.96% |
| Sep 30, 2019 | -4.81% |
| Jun 30, 2019 | -5.35% |
| Mar 31, 2019 | -5.17% |
| Dec 31, 2018 | -5.05% |
| Sep 30, 2018 | -5.42% |
| Jun 30, 2018 | -4.31% |
| Mar 31, 2018 | -4.19% |
| Dec 31, 2017 | -4.26% |
| Sep 30, 2017 | -4.24% |
| Jun 30, 2017 | -5.58% |
| Mar 31, 2017 | -10.11% |
| Dec 31, 2016 | -9.27% |
| Sep 30, 2016 | -10.48% |
| Jun 30, 2016 | -14.71% |
| Mar 31, 2016 | -11.88% |
| Dec 31, 2015 | -8.77% |
| Sep 30, 2015 | -7.57% |