Shopify (SHOP) Shares Outstanding (Diluted) (2019 - 2026)
Shopify's Weighted Average Shares Outstanding (Diluted) was 1.29 billion in Q3 2026, down 1.7% from 1.31 billion a year earlier and down 0.6% from the prior quarter.
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Analysis
Shopify (SHOP) Shares Outstanding (Diluted) (2019 - 2026) Analysis & Trends
For FY2025, Weighted Average Shares Outstanding (Diluted) at Shopify came in at 1.3 billion, up 0.3% from FY2024.
- Weighted Average 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, Weighted Average 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 Q3 2026 figure marks the lowest quarterly Weighted Average Shares Outstanding (Diluted) since Q1 2024.
- Compared with a year earlier, Weighted Average Shares Outstanding (Diluted) was higher in six of the last eight quarters, with growth averaging 0.1%.
- The best year-over-year quarter for Weighted Average Shares Outstanding (Diluted) over five years was Q4 2021 (growth of 3.2%); the worst was Q3 2026 (a decline of 1.7%).
- Per Business Quant data, SHOP's Weighted Average Shares Outstanding (Diluted) in the three quarters before Q3 2026 was 1.3 billion (Q2 2026), 1.3 billion (Q1 2026) and 1.3 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,463.18 Bn | 3,198.08 Bn | 76.16 Bn | 12.31 Bn |
| 2 | Meta Platforms | 1,546.58 Bn | 1,211.10 Bn | 51.23 Bn | 2.57 Bn |
| 3 | Netflix | 269.21 Bn | 230.51 Bn | 6.80 Bn | 4.20 Bn |
| 4 | Alibaba Group Holding | 251.07 Bn | 73.14 Bn | 15.16 Bn | 2.40 Bn |
| 5 | Shopify | 184.99 Bn | 163.79 Bn | 1.78 Bn | 1.29 Bn |
| 6 | Uber Technologies | 140.28 Bn | 111.49 Bn | 6.42 Bn | 2.05 Bn |
| 7 | Spotify Technology | 126.47 Bn | 83.39 Bn | 1.89 Bn | 210.51 Mn |
| 8 | Booking Holdings | 125.48 Bn | 59.22 Bn | - | 753.00 Mn |
| 9 | PDD Holdings | 119.49 Bn | -124.56 Bn | 9.48 Bn | 1.48 Bn |
| 10 | AppLovin | 117.98 Bn | 106.51 Bn | 1.94 Bn | 334.77 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 1.29 Bn |
| 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();