Shopify (SHOP) Tax Rate (2024 - 2026)
Shopify's (SHOP) quarterly Tax Rate came in at 8.36% in Q1 2026, down 307.0% year-on-year from 4.04% in Q1 2025, and down 49.95% quarter-over-quarter from 16.7% in Q4 2025.
Shopify (SHOP) Tax Rate (2024 - 2026) Analysis & Trends
Shopify's Tax Rate history runs 3 years deep, the most recent figure standing at 8.36% for Q1 2026.
- On a quarterly basis, Tax Rate fell 307.0% year-over-year to 8.36% in Q1 2026; TTM through Mar 2026 was 19.03%, a 1296.0% increase from a year earlier, with the FY2025 full-year figure at 18.42%, up 904.0% from the prior year.
- Tax Rate eased to 8.36% in Q1 2026 per SHOP's latest filing, from 16.7% in the prior quarter.
- Across five years, Tax Rate topped out at 16.7% in Q4 2025 and bottomed at 6.64% in Q1 2024.
- The 3-year median for Tax Rate is 11.43% (2025), against an average of 9.85%.
- Across the five-year window, Tax Rate jumped 1807 bps in 2025 and tumbled 307 bps in 2026, its largest moves.
- Year by year, Tax Rate stood at 9.01% in 2024, then jumped by 85 bps to 16.7% in 2025, then plunged by 50 bps to 8.36% in 2026.
- Per Business Quant, the three latest SHOP Tax Rate figures stand at 8.36% (Q1 2026), 16.7% (Q4 2025), and 14.29% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | -29.13% |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | -18.42% |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | 8.36% |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 39.11% |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 22.57% |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 31.96% |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | 23.68% |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | 0.37% |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 21.59% |
| 10 | Datadog | 86.34 Bn | 81.58 Bn | 797.20 Mn | 10.86% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 8.36% |
| Mar 31, 2026 | 8.36% |
| Mar 31, 2026 | 8.36% |
| Dec 31, 2025 | 16.70% |
| Dec 31, 2025 | 16.70% |
| Dec 31, 2025 | 16.70% |
| Sep 30, 2025 | 14.29% |
| Sep 30, 2025 | 14.29% |
| Sep 30, 2025 | 14.29% |
| Jun 30, 2025 | 16.03% |
| Jun 30, 2025 | 16.03% |
| Jun 30, 2025 | 16.03% |
| Mar 31, 2025 | 11.43% |
| Mar 31, 2025 | 11.43% |
| Mar 31, 2025 | 11.43% |
| Dec 31, 2024 | 9.01% |
| Dec 31, 2024 | 9.01% |
| Dec 31, 2024 | 9.01% |
| Sep 30, 2024 | 3.72% |
| Sep 30, 2024 | 3.72% |