Shopify (SHOP) Return on Equity [ROE] (2024 - 2026)
Shopify (SHOP) reported Return on Equity [ROE] of 16.72% for Q3 2026, up 2.26 percentage points from 14.46% a year earlier and up 1.41 percentage points from the prior quarter.
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Analysis
Shopify (SHOP) Return on Equity [ROE] (2024 - 2026) Analysis & Trends
For FY2025, Shopify posted Return on Equity [ROE] of 9.84%, down 9.74 percentage points from FY2024.
- Return on Equity [ROE] has a five-year change of +3.05 percentage points (FY2020 to FY2025).
- By year, Return on Equity [ROE] came in at 19.58% in FY2024 (+18.05 pp), 1.53% in FY2023 (+37.25 pp), -35.72% in FY2022 (-68.97 pp) and 33.25% in FY2021 (+26.46 pp).
- The Q3 2026 figure ranks as the highest quarterly Return on Equity [ROE] since Q2 2025.
- Year over year, Return on Equity [ROE] gained in 1 of the last four quarters, with an average year-over-year change of -3.95 percentage points.
- Per Business Quant data, the three quarters before Q3 2026 came in at 15.31% (Q2 2026), 10.26% (Q1 2026) and 9.48% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn | 35.76% |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn | 28.20% |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn | 49.69% |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn | 6.20% |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn | 16.72% |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn | 12.62% |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn | 155.17% |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn | 35.30% |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - | - |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn | 21.12% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 16.72% |
| Jun 30, 2026 | 15.31% |
| Mar 31, 2026 | 10.26% |
| Dec 31, 2025 | 9.48% |
| Sep 30, 2025 | 14.46% |
| Jun 30, 2025 | 20.24% |
| Mar 31, 2025 | 14.24% |
| Dec 31, 2024 | 18.63% |
API Access
Shopify Return on Equity [ROE] 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=return-on-equity-%5Broe%5D&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-equity-[roe]", "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=return-on-equity-%5Broe%5D&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();