Shopify (SHOP) Tax Rate (2024 - 2026)
Shopify (SHOP) recorded quarterly Tax Rate of 8.36% in Q1 2026, down 49.95% quarter-over-quarter from 16.7% in Q4 2025, and down 307.0% on a YoY basis from 4.04% in Q1 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.
- In Q1 2026, Tax Rate fell 307.0% year-over-year to 8.36%; the TTM figure through Mar 2026 stood at 19.03% (up 1296.0% YoY), while the FY2025 annual figure was 18.42%, up 904.0% from the prior year.
- Tax Rate was 8.36% for Q1 2026 at Shopify, down from 16.7% in the prior quarter.
- In the past five years, Tax Rate ranged from a high of 16.7% in Q4 2025 to a low of 6.64% in Q1 2024.
- Historically, Tax Rate has averaged 9.85% across 3 years, with a median of 11.43% in 2025.
- The sharpest annual moves came in 2025 and 2026: Tax Rate surged 1807 bps in 2025, then tumbled 307 bps in 2026.
- A 3-year view of Tax Rate shows it stood at 9.01% in 2024, then jumped by 85 bps to 16.7% in 2025, then slumped by 50 bps to 8.36% in 2026.
- The last three Tax Rate figures came in at 8.36% (Q1 2026), 16.7% (Q4 2025), and 14.29% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | - |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | -18.42% |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 39.11% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 8.36% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 22.74% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 21.59% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 30.31% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 23.68% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 23.50% |
| 10 | Snowflake | 82.57 Bn | 79.61 Bn | 926.45 Mn | 0.37% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 8.36% |
| Mar 31, 2026 | 8.36% |
| Dec 31, 2025 | 16.70% |
| Dec 31, 2025 | 16.70% |
| Sep 30, 2025 | 14.29% |
| Sep 30, 2025 | 14.29% |
| Jun 30, 2025 | 16.03% |
| Jun 30, 2025 | 16.03% |
| Mar 31, 2025 | 11.43% |
| Mar 31, 2025 | 11.43% |
| Dec 31, 2024 | 9.01% |
| Dec 31, 2024 | 9.01% |
| Sep 30, 2024 | 3.72% |
| Sep 30, 2024 | 3.72% |
| Jun 30, 2024 | 15.76% |
| Jun 30, 2024 | 15.76% |
| Mar 31, 2024 | -6.64% |
| Mar 31, 2024 | -6.64% |