Shopify (SHOP) Shares Outstanding (Diluted) (2019 - 2026)
Shopify's Shares Outstanding (Diluted) was 1.3 billion in Q2 2026, down 0.8% from 1.31 billion a year earlier and down 0.4% from the prior quarter.
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Analysis
Shopify (SHOP) Shares Outstanding (Diluted) (2019 - 2026) Analysis & Trends
From Q4 2019 onward, Shopify has reported Shares Outstanding (Diluted) for 15 quarters.
- Shares Outstanding (Diluted) has now increased for three consecutive years, with a five-year compound annual growth rate of 1.1% (FY2020 to FY2025).
- In earlier years, Shares Outstanding (Diluted) was 1.3 billion in FY2024 (+0.5%), 1.3 billion in FY2023 (+2.3%), 1.27 billion in FY2022 (-0.6%) and 1.27 billion in FY2021 (+3.2%).
- The Q2 2026 figure marks the lowest quarterly Shares Outstanding (Diluted) since Q1 2025.
- Compared with a year earlier, Shares Outstanding (Diluted) was higher in six of the last seven quarters, with growth averaging 0.4%.
- The best year-over-year quarter for Shares Outstanding (Diluted) over five years was Q4 2021 (growth of 3.2%); the worst was Q2 2026 (a decline of 0.8%).
- Per Business Quant data, SHOP's Shares Outstanding (Diluted) in the three quarters before Q2 2026 was 1.3 billion (Q1 2026), 1.3 billion (Q4 2025) and 1.31 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,248.48 Bn | 4,006.00 Bn | 73.85 Bn | 12.31 Bn |
| 2 | Meta Platforms | 1,873.50 Bn | 1,576.02 Bn | 49.47 Bn | 2.57 Bn |
| 3 | Netflix | 304.25 Bn | 264.45 Bn | 6.52 Bn | 4.26 Bn |
| 4 | Alibaba Group Holding | 257.83 Bn | 71.60 Bn | 15.11 Bn | 2.40 Bn |
| 5 | Shopify | 230.63 Bn | 207.82 Bn | 1.71 Bn | 1.30 Bn |
| 6 | Uber Technologies | 145.10 Bn | 116.90 Bn | 6.38 Bn | 2.05 Bn |
| 7 | Booking Holdings | 127.39 Bn | 60.44 Bn | - | 770.00 Mn |
| 8 | PDD Holdings | 115.26 Bn | -128.52 Bn | 9.45 Bn | 1.48 Bn |
| 9 | Spotify Technology | 109.42 Bn | 66.92 Bn | 1.86 Bn | 210.51 Mn |
| 10 | Airbnb | 103.26 Bn | 56.49 Bn | 2.98 Bn | 597.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.30 Bn |
| Mar 31, 2026 | 1.30 Bn |
| Dec 31, 2025 | 1.30 Bn |
| Sep 30, 2025 | 1.31 Bn |
| Jun 30, 2025 | 1.31 Bn |
| Mar 31, 2025 | 1.30 Bn |
| Dec 31, 2024 | 1.30 Bn |
| Sep 30, 2024 | 1.30 Bn |
| Jun 30, 2024 | 1.30 Bn |
| Mar 31, 2024 | 1.29 Bn |
| Dec 31, 2023 | 1.30 Bn |
| Dec 31, 2022 | 1.27 Bn |
| Dec 31, 2021 | 1.27 Bn |
| Dec 31, 2020 | 1.23 Bn |
| Dec 31, 2019 | 1.13 Bn |
API Access
Shopify Shares Outstanding (Diluted) 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=shares-outstanding-diluted&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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=shares-outstanding-diluted&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();