Shopify reported revenue growth of 31.58% for the quarter ended Sep 2026. These growth metrics cover 19 quarters of results from Dec 2015 through Sep 2026, standardized by Business Quant from the company’s SEC filings.
| Growth MetricsGrowth | Dec2015 | Dec2016 | Dec2017 | Dec2018 | Dec2019 | Dec2020 | Dec2021 | Dec2022 | Dec2023 | Jun2024 | Sep2024 | Dec2024 | Mar2025 | Jun2025 | Sep2025 | Dec2025 | Mar2026 | Jun2026 | Sep2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Growth Ratios | |||||||||||||||||||
| Total Debt (QoQ) | 0.11% | 0.00% | 0.11% | ||||||||||||||||
| Tax Rate (QoQ) | 0.00M | 529.00 | -175.00 | 242.00 | -797.00 | ||||||||||||||
| Tax Rate Growth (1y) | 27.00 | 0.00M | 770.00 | -65.00 | -687.00 | ||||||||||||||
| Share-based Compensation (QoQ)Stock Comp. (QoQ) | 0.95% | 3.77% | -0.91% | 4.59% | -0.88% | -5.31% | 7.48% | 14.78% | -3.03% | 9.38% | |||||||||
| Share-based Compensation Growth (1y)Stock Comp. Growth (1y) | 8.57% | 6.60% | -2.73% | 5.50% | 15.79% | 13.27% | 30.84% | ||||||||||||
| Revenue (QoQ) | 9.89% | 5.72% | 30.06% | -16.07% | 13.56% | 6.12% | 29.11% | -13.67% | 13.03% | 4.44% | |||||||||
| Revenue Growth (1y) | 26.81% | 31.05% | 31.54% | 30.58% | 34.32% | 33.69% | 31.58% | ||||||||||||
| Return on Sales [ROS] (QoQ)ROS (QoQ) | 716.00 | 130.00 | 345.00 | -793.00 | 226.00 | 120.00 | 512.00 | -513.00 | 157.00 | 156.00 | |||||||||
| Return on Sales [ROS] Growth (1y)ROS Growth (1y) | 398.00 | -93.00 | -103.00 | 65.00 | 345.00 | 276.00 | 312.00 | ||||||||||||
| Return on Invested Capital [ROIC] (QoQ)ROIC (QoQ) | -17.00 | -40.00 | 31.00 | ||||||||||||||||
| Return on Equity [ROE] (QoQ)ROE (QoQ) | -439.00 | 600.00 | -578.00 | -498.00 | 78.00 | 505.00 | 141.00 | ||||||||||||
| Return on Equity [ROE] Growth (1y)ROE Growth (1y) | -915.00 | -399.00 | -493.00 | 226.00 | |||||||||||||||
| Return on Capital Employed [ROCE] (QoQ)ROCE (QoQ) | 21.00 | -9.00 | 35.00 | 170.00 | 197.00 | 159.00 | |||||||||||||
| Return on Capital Employed [ROCE] Growth (1y)ROCE Growth (1y) | 217.00 | 393.00 | 561.00 | ||||||||||||||||
| Return on Assets [ROA] (QoQ)ROA (QoQ) | 499.00 | -474.00 | -389.00 | 94.00 | 440.00 | 111.00 | |||||||||||||
| Return on Assets [ROA] Growth (1y)ROA Growth (1y) | -270.00 | -329.00 | 256.00 | ||||||||||||||||
| Property, Plant & Equipment (Net) (QoQ)PP&E (Net) (QoQ) | -2.13% | 0.00% | 10.87% | 3.92% | 1.89% | -1.85% | -5.66% | ||||||||||||
| Property, Plant & Equipment (Net) Growth (5y)PP&E (Net) Growth (5y) | 38.67% | 22.75% | 18.21% | 21.07% | -4.48% | -15.85% | -10.46% | ||||||||||||
| Property, Plant & Equipment (Net) Growth (3y)PP&E (Net) Growth (3y) | 32.34% | 23.08% | 34.56% | 22.29% | 19.65% | 5.55% | -18.97% | -23.63% | -26.04% | ||||||||||
| Property, Plant & Equipment (Net) Growth (1y)PP&E (Net) Growth (1y) | 52.10% | 38.34% | 10.15% | 22.34% | 80.81% | -17.32% | 14.57% | 24.14% | -62.60% | -4.08% | 12.77% | 17.39% | 15.22% | -1.96% | |||||
| Operating Margin (QoQ) | 716.00 | 130.00 | 345.00 | -793.00 | 226.00 | 120.00 | 512.00 | -513.00 | 157.00 | 156.00 | |||||||||
| Operating Margin Growth (1y) | 398.00 | -93.00 | -103.00 | 65.00 | 345.00 | 276.00 | 312.00 | ||||||||||||
| Operating Income (QoQ)Op. Inc (QoQ) | 180.23% | 17.43% | 64.31% | -56.34% | 43.35% | 17.87% | 83.97% | -39.46% | 27.75% | 16.39% | |||||||||
| Operating Income Growth (1y)Op. Inc Growth (1y) | 136.05% | 20.75% | 21.20% | 35.70% | 88.18% | 67.70% | 65.60% | ||||||||||||
| Net Margin (QoQ) | 0.00M | 0.00M | 768.00 | -0.01M | 0.01M | 0.00M | 0.00M | 0.00M | 0.01M | 0.00M | |||||||||
| Net Margin Growth (1y) | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 811.00 | 306.00 | ||||||||||||
| Net Income towards Common Stockholders (QoQ)Net Income (QoQ) | 162.64% | 384.21% | 56.16% | -152.75% | 232.84% | -70.86% | 181.44% | -178.20% | 358.52% | -69.24% | |||||||||
| Net Income towards Common Stockholders Growth (1y)Net Income Growth (1y) | -149.82% | 429.82% | -68.12% | -42.54% | 14.81% | 65.78% | 75.00% | ||||||||||||
| Net Income (QoQ) | 162.64% | 384.21% | 56.16% | -152.75% | 232.84% | -70.86% | 181.44% | -178.20% | 358.52% | -69.24% | |||||||||
| Net Income Growth (1y) | -149.82% | 429.82% | -68.12% | -42.54% | 14.81% | 65.78% | 75.00% | ||||||||||||
| Net Cash Flow (QoQ)NCF (QoQ) | -137.85% | 44.44% | 106.67% | -6,533.33% | 213.99% | 296.36% | -199.43% | 135.29% | -161.44% | 212.23% | |||||||||
| Net Cash Flow Growth (1y)NCF Growth (1y) | -190.19% | 371.60% | 2,037.78% | -29,000.00% | 258.55% | -185.45% | -75.80% | ||||||||||||
| Income After Tax (QoQ) | 162.64% | 384.21% | 56.16% | -152.75% | 232.84% | -70.86% | 181.44% | -178.20% | 358.52% | -69.24% | |||||||||
| Income After Tax Growth (1y) | -149.82% | 429.82% | -68.12% | -42.54% | 14.81% | 65.78% | 75.00% | ||||||||||||
| Gross Profit (QoQ) | 9.20% | 6.99% | 20.93% | -13.54% | 11.38% | 6.84% | 21.71% | -8.68% | 10.48% | 4.27% | |||||||||
| Gross Profit Growth (1y) | 22.15% | 24.59% | 24.42% | 25.22% | 32.25% | 31.18% | 28.04% | ||||||||||||
| Gross Margin (QoQ) | -32.00 | 61.00 | -363.00 | 145.00 | -95.00 | 33.00 | -280.00 | 266.00 | -110.00 | -7.00 | |||||||||
| Gross Margin Growth (1y) | -189.00 | -252.00 | -280.00 | -197.00 | -76.00 | -91.00 | -132.00 | ||||||||||||
| Free Cash Flow (QoQ)FCF (QoQ) | 43.53% | 26.43% | 45.13% | -40.59% | 16.25% | 20.14% | 41.03% | -33.43% | 37.39% | 24.77% | |||||||||
| Free Cash Flow Growth (1y)FCF Growth (1y) | 56.47% | 26.73% | 20.43% | 17.02% | 31.13% | 54.98% | 60.95% | ||||||||||||
| FCF Margin (QoQ) | 382.00 | 319.00 | 226.00 | -635.00 | 36.00 | 208.00 | 164.00 | -446.00 | 324.00 | 355.00 | |||||||||
| FCF Margin Growth (1y) | 291.00 | -54.00 | -165.00 | -226.00 | -37.00 | 251.00 | 398.00 | ||||||||||||
| EPS (Diluted) (QoQ) | 162.03% | 383.58% | 56.17% | -153.00% | 231.46% | -70.95% | 183.15% | -178.29% | 359.60% | -69.07% | |||||||||
| EPS (Diluted) Growth (1y) | -148.27% | 426.15% | -68.39% | -42.69% | 15.33% | 67.20% | 78.00% | ||||||||||||
| EPS (Basic) (QoQ) | 162.56% | 383.58% | 56.25% | -152.52% | 232.60% | -70.91% | 181.68% | -177.93% | 360.14% | -69.04% | |||||||||
| EPS (Basic) Growth (1y) | -148.27% | 426.21% | -68.35% | -42.94% | 15.33% | 66.11% | 76.80% | ||||||||||||
| EBT (QoQ) | 179.30% | 323.65% | 65.23% | -154.19% | 240.13% | -71.46% | 189.61% | -171.08% | 379.97% | -71.89% | |||||||||
| EBT Margin (QoQ) | 0.00M | 0.00M | 0.00M | -0.01M | 0.01M | 0.00M | 0.00M | 0.00M | 0.01M | 0.00M | |||||||||
| EBT Margin Growth (1y) | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 928.00 | 251.00 | ||||||||||||
| EBT Growth (1y) | -200.78% | 431.53% | -64.19% | -37.23% | 17.66% | 64.50% | 62.01% | ||||||||||||
| EBIT (QoQ) | 180.23% | 17.43% | 64.31% | -56.34% | 43.35% | 17.87% | 83.97% | -39.46% | 27.75% | 16.39% | |||||||||
| EBIT Margin (QoQ) | 716.00 | 130.00 | 345.00 | -793.00 | 226.00 | 120.00 | 512.00 | -513.00 | 157.00 | 156.00 | |||||||||
| EBIT Margin Growth (1y) | 398.00 | -93.00 | -103.00 | 65.00 | 345.00 | 276.00 | 312.00 | ||||||||||||
| EBIT Growth (1y) | 136.05% | 20.75% | 21.20% | 35.70% | 88.18% | 67.70% | 65.60% | ||||||||||||
| EBITDA Margin (QoQ) | 712.00 | 119.00 | 336.00 | -788.00 | 222.00 | 119.00 | 503.00 | -510.00 | 154.00 | 155.00 | |||||||||
| EBITDA Margin Growth (1y) | 378.00 | -112.00 | -112.00 | 55.00 | 333.00 | 266.00 | 302.00 | ||||||||||||
| Cash from Operations (QoQ)Cash from Ops. (QoQ) | 42.86% | 24.41% | 45.39% | -40.33% | 16.62% | 19.86% | 41.33% | -33.66% | 36.80% | 24.32% | |||||||||
| Cash from Operations Growth (1y)Cash from Ops. Growth (1y) | 54.20% | 25.88% | 21.28% | 17.89% | 31.06% | 53.74% | 59.45% | ||||||||||||
| Cash from Investing Activities (QoQ)Cash from Investing (QoQ) | -1,470.37% | -11.79% | -39.45% | 6.35% | 59.29% | 232.94% | -295.22% | 147.40% | 84.19% | -110.51% | |||||||||
| Cash from Investing Activities Growth (1y)Cash from Investing Growth (1y) | -2,192.59% | 40.57% | 170.68% | 1.06% | 150.08% | 326.59% | -117.91% | ||||||||||||
| Cash & Equivalents (QoQ)Cash & Equiv. (QoQ) | -12.62% | 17.80% | 56.55% | -36.00% | 19.61% | -10.39% | 12.80% | ||||||||||||
| Cash & Equivalents Growth (5y)Cash & Equiv. Growth (5y) | 72.99% | 89.69% | 97.16% | 63.37% | 28.03% | 18.18% | -10.59% | ||||||||||||
| Cash & Equivalents Growth (3y)Cash & Equiv. Growth (3y) | 50.03% | 55.10% | 97.77% | 167.23% | 82.66% | 36.39% | -19.45% | -15.73% | -2.15% | ||||||||||
| Cash & Equivalents Growth (1y)Cash & Equiv. Growth (1y) | 162.37% | -23.67% | 68.64% | 189.87% | 58.25% | 315.99% | -7.42% | -34.12% | -14.31% | 6.02% | 3.14% | 41.18% | 7.39% | -22.62% | |||||
| Capital Expenditures (QoQ)Capex (QoQ) | 16.67% | -71.43% | 100.00% | 0.00% | 50.00% | 0.00% | 66.67% | -50.00% | -20.00% | -50.00% | |||||||||
| Capital Expenditures Growth (1y)Capex Growth (1y) | -33.33% | -14.29% | 200.00% | 150.00% | 25.00% | -33.33% | -66.67% | ||||||||||||
| Assets (QoQ) | -3.76% | 8.66% | 3.28% | 1.00% | -7.03% | 2.47% | 1.34% | ||||||||||||
| Assets Growth (5y) | 105.51% | 99.82% | 93.60% | 57.40% | 38.03% | 31.89% | 14.37% | ||||||||||||
| Assets Growth (3y) | 127.01% | 109.93% | 92.32% | 91.03% | 80.86% | 45.54% | 13.33% | 1.44% | 12.19% | ||||||||||
| Assets Growth (1y) | 156.02% | 101.29% | 127.00% | 102.48% | 54.76% | 122.47% | 71.85% | -19.36% | 5.04% | 23.23% | 9.09% | 5.38% | -0.62% | -2.49% |
Pull Shopify's standardized financial statements into your own models, spreadsheets and apps with the Business Quant Financial Statements API. The request below follows the statement, frequency and period selected above. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/statements?ticker=SHOP&statement=Growth&frequency=Quarter&period=all&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/statements"
params = {"ticker": "SHOP", "statement": "Growth", "frequency": "Quarter", "period": "all", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/statements?ticker=SHOP&statement=Growth&frequency=Quarter&period=all&api_key=YOUR_API_KEY");
const data = await res.json();