Income Statement Shopify Inc.

Equities

SHOP

CA82509L1076

Internet Services

Market Closed - Nasdaq Other stock markets 04:00:00 2026-02-06 pm EST			5-day change	1st Jan Change
112.05 ^USD	+0.73%		-14.62%	-30.39%

Feb. 06	Diary-Canada corporate earnings week ahead	RE
Feb. 04	Swanson Health Re-Platforms to Ordergroove and Shopify to Power World-Class Subscriber Experiences and Long-Term Customer Growth	CI

5.4Bqd5x8CFouftBHABXaPXn5R-qflvlfDJzuPFJYvYow.pED0kygvfNHJ8VuaVDXVJEgHqN-I3Bn1alrsQddhBv24SfSSXTNCusDEXA

Published financial data: SHOPIFY INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	2.93B	4.61B	5.6B	7.06B	8.88B
Total Revenues	2.93B	4.61B	5.6B	7.06B	8.88B
Cost of Goods Sold, Total	1.39B	2.13B	2.85B	3.54B	4.41B
Gross Profit	1.54B	2.48B	2.75B	3.52B	4.47B
Selling General & Admin Expenses, Total	804M	1.22B	1.73B	1.62B	1.85B
R&D Expenses	518M	819M	1.49B	1.61B	1.35B
Other Operating Expenses	46.38M	65.32M	13.41M	21M	23M
Other Operating Expenses, Total	1.37B	2.1B	3.23B	3.26B	3.22B
Operating Income	174M	381M	-476M	260M	1.25B
Interest Expense, Total	-9.08M	-3.49M	-3.5M	-	-
Interest And Investment Income	23.43M	15.36M	79.14M	241M	308M
Net Interest Expenses	14.35M	11.86M	75.64M	241M	308M
Income (Loss) On Equity Invest.	-	-	-	-58M	-138M
Currency Exchange Gains (Loss)	669K	286K	-1.9M	1M	-8M
Other Non Operating Income (Expenses)	-51.85M	-81.72M	-135M	-152M	-227M
EBT, Excl. Unusual Items	137M	311M	-537M	292M	1.18B
Restructuring Charges	-	-	-30.5M	-148M	-
Gain (Loss) On Sale Of Investments	135M	2.86B	-2.87B	1.42B	991M
Gain (Loss) On Sale Of Assets	-	-	-	-1.34B	-
Asset Writedown	-31.62M	-30.14M	-84.31M	-38M	-
Legal Settlements	-	-	-97M	-	55M
EBT, Incl. Unusual Items	240M	3.14B	-3.62B	185M	2.23B
Income Tax Expense	-79.14M	226M	-162M	53M	209M
Earnings From Continuing Operations	320M	2.91B	-3.46B	132M	2.02B
Net Income to Company	320M	2.91B	-3.46B	132M	2.02B
Net Income - (IS)	320M	2.91B	-3.46B	132M	2.02B
Net Income to Common Incl Extra Items	320M	2.91B	-3.46B	132M	2.02B
Net Income to Common Excl. Extra Items	320M	2.91B	-3.46B	132M	2.02B
Per Share Items
Net EPS - Basic	0.27	2.34	-2.73	0.1	1.57
Basic EPS - Continuing Operations	0.27	2.34	-2.73	0.1	1.57
Basic Weighted Average Shares Outstanding	1.2B	1.25B	1.27B	1.28B	1.29B
Net EPS - Diluted	0.26	2.29	-2.73	0.1	1.55
Diluted EPS - Continuing Operations	0.26	2.29	-2.73	0.1	1.55
Diluted Weighted Average Shares Outstanding	1.23B	1.27B	1.27B	1.3B	1.3B
Normalized Basic EPS	0.07	0.16	-0.26	0.14	0.57
Normalized Diluted EPS	0.07	0.15	-0.26	0.14	0.57
American Depositary Receipts Ratio (ADR)	0.01	0.01	0.01	0.01	0.01
Supplemental Items
EBITDA	235M	445M	-385M	330M	1.28B
EBITA	196M	403M	-421M	298M	1.26B
EBIT	174M	381M	-476M	260M	1.25B
EBITDAR	270M	480M	-338M	378M	1.32B
Total Revenues (As Reported)	2.93B	4.61B	5.6B	7.06B	8.88B
Effective Tax Rate - (Ratio)	-32.93	7.19	4.48	28.65	9.38
Current Domestic Taxes	-54.25M	1.82M	508K	-1M	32M
Current Foreign Taxes	19.91M	33.16M	23.63M	55M	99M
Total Current Taxes	-34.34M	34.97M	24.14M	54M	131M
Deferred Domestic Taxes	12.55M	192M	-180M	2M	72M
Deferred Foreign Taxes	-57.35M	-626K	-6.51M	-3M	6M
Total Deferred Taxes	-44.8M	191M	-187M	-1M	78M
Normalized Net Income	85.5M	194M	-335M	182M	739M
Interest on Long-Term Debt	9.08M	3.49M	3.5M	4M	3M
Supplemental Operating Expense Items
Advertising Expense	241M	420M	505M	497M	546M
Selling and Marketing Expenses	596M	896M	1.22B	1.19B	1.39B
General and Administrative Expenses	207M	321M	513M	433M	461M
Research And Development Expense From Footnotes	561M	856M	1.5B	1.73B	1.37B
Net Rental Expense, Total	35.65M	35.27M	47.19M	48M	41M
Imputed Operating Lease Interest Expense	4.87M	945K	1.03M	-	-
Imputed Operating Lease Depreciation	30.79M	34.33M	46.16M	-	-
Stock-Based Comp., COGS (Total)	6.48M	6.68M	8.59M	4M	4M
Stock-Based Comp., R&D Exp. (Total)	154M	215M	387M	481M	287M
Stock-Based Comp., S&M Exp. (Total)	40.68M	41.55M	63.26M	56M	47M
Stock-Based Comp., G&A Exp. (Total)	45.66M	67.35M	90.7M	74M	92M
Total Stock-Based Compensation	247M	331M	549M	615M	430M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	2.7B	2.5B	1.65B	1.41B	1.5B
Short Term Investments	3.69B	5.29B	3.44B	3.63B	4.02B
Total Cash And Short Term Investments	6.4B	7.79B	5.09B	5.04B	5.51B
Accounts Receivable, Total	63.52M	127M	203M	194M	252M
Other Receivables	114M	70.1M	75.1M	98M	122M
Notes Receivable	40.88M	69.7M	209M	672M	1.02B
Total Receivables	219M	267M	487M	964M	1.4B
Inventory	-	-	-	-	26M
Prepaid Expenses	25.05M	49.92M	48.02M	55M	59M
Other Current Assets, Total	237M	433M	428M	217M	260M
Total Current Assets	6.88B	8.54B	6.05B	6.28B	7.25B
Gross Property Plant And Equipment	311M	429M	640M	303M	310M
Accumulated Depreciation	-99.61M	-127M	-154M	-156M	-170M
Net Property Plant And Equipment	211M	302M	486M	147M	140M
Long-term Investments	173M	3.96B	1.95B	4.38B	6B
Goodwill	312M	357M	1.84B	427M	452M
Other Intangibles, Total	136M	138M	390M	29M	22M
Deferred Tax Assets Long-Term	52.68M	48.37M	40.82M	44M	37M
Other Long-Term Assets, Total	-	-	-	-	21M
Total Assets	7.76B	13.34B	10.76B	11.3B	13.92B
Liabilities
Accounts Payable, Total	169M	284M	364M	364M	360M
Accrued Expenses, Total	116M	138M	115M	128M	220M
Current Portion of Long-Term Debt	-	-	-	-	918M
Current Portion of Leases	10.05M	15.75M	18.16M	17M	18M
Current Income Taxes Payable	19.68M	13.5M	9.39M	18M	58M
Unearned Revenue Current, Total	108M	217M	296M	302M	283M
Other Current Liabilities	16.09M	34.59M	53.56M	69M	99M
Total Current Liabilities	438M	703M	856M	898M	1.96B
Long-Term Debt	758M	911M	913M	916M	-
Long-Term Leases	145M	247M	465M	217M	190M
Unearned Revenue Non Current	21.01M	163M	268M	196M	147M
Deferred Tax Liability Non Current	-	183M	16.29M	6M	73M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	1.36B	2.21B	2.52B	2.23B	2.37B
Common Stock, Total	6.12B	8.04B	8.75B	9.2B	9.63B
Additional Paid In Capital	261M	161M	30.21M	251M	305M
Retained Earnings	15.28M	2.94B	-522M	-390M	1.63B
Comprehensive Income and Other	8.77M	-5.97M	-16.47M	4M	-10M
Total Common Equity	6.4B	11.13B	8.24B	9.07B	11.56B
Total Equity	6.4B	11.13B	8.24B	9.07B	11.56B
Total Liabilities And Equity	7.76B	13.34B	10.76B	11.3B	13.92B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.23B	1.26B	1.28B	1.29B	1.29B
ECS Total Common Shares Outstanding	1.23B	1.26B	1.28B	1.29B	1.29B
Book Value / Share	5.22	8.84	6.46	7.05	8.93
Tangible Book Value	5.95B	10.64B	6.01B	8.61B	11.08B
Tangible Book Value Per Share	4.86	8.45	4.72	6.69	8.56
Total Debt	913M	1.17B	1.4B	1.15B	1.13B
Net Debt	-5.48B	-6.62B	-3.69B	-3.89B	-5.1B
Debt Equivalent Oper. Leases	285M	282M	378M	384M	328M
Equity Method Investments, Total	-	-	-	780M	642M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	60.52M	73.74M	103M	63M	68M
Full Time Employees	7K	10K	11.6K	8.3K	8.1K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	16M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	320M	2.91B	-3.46B	132M	2.02B
Depreciation & Amortization - CF	38.19M	41.83M	36.17M	32M	22M
Amortization of Goodwill and Intangible Assets - (CF)	22.84M	22.88M	54.35M	38M	14M
Depreciation & Amortization, Total	61.03M	64.71M	90.52M	70M	36M
Amortization of Deferred Charges, Total - (CF)	17.79M	3.94M	2.35M	-	-
(Gain) Loss From Sale Of Asset	-	-	-	1.34B	-
(Gain) Loss on Sale of Investments - (CF)	-135M	-2.86B	2.92B	-1.42B	-992M
Asset Writedown & Restructuring Costs	31.62M	30.14M	84.31M	38M	-
(Income) Loss On Equity Investments - (CF)	-	-	-	58M	138M
Stock-Based Compensation (CF)	247M	331M	549M	615M	430M
Other Operating Activities, Total	-16.4M	181M	-223M	-85M	151M
Change In Accounts Receivable	-29.15M	-72.3M	-105M	-98M	-148M
Change In Accounts Payable	119M	138M	36.54M	69M	110M
Change in Unearned Revenues	66.16M	309M	305M	60M	26M
Change In Income Taxes	-	45.26M	-3.94M	-	-
Change In Deferred Taxes	-106M	-	-	-	-
Change in Other Net Operating Assets	-150M	-581M	-332M	164M	-154M
Cash from Operations	425M	504M	-136M	944M	1.62B
Capital Expenditure	-41.73M	-50.79M	-50.02M	-39M	-19M
Cash Acquisitions	-	-59.63M	-1.75B	-31M	-30M
Sale (Purchase) of Intangible assets	-262K	-	-	-	-
Investment in Marketable and Equity Securities, Total	-1.89B	-2.24B	1.24B	-615M	-1.08B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-159M	-523M	-464M
Other Investing Activities, Total	-	-	-	-36M	3M
Cash from Investing	-1.93B	-2.35B	-719M	-1.24B	-1.59B
Long-Term Debt Issued, Total	908M	-	-	-	-
Total Debt Issued	908M	-	-	-	-
Issuance of Common Stock	2.65B	1.65B	17.55M	60M	61M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	3.56B	1.65B	17.55M	60M	61M
Foreign Exchange Rate Adjustments	3.22M	-7M	-16.2M	4M	-6M
Net Change in Cash	2.05B	-201M	-854M	-236M	85M
Supplemental Items
Cash Interest Paid	-	1.29M	1.15M	1M	1M
Cash Income Tax Paid (Refund)	-	-10.47M	27.29M	50M	116M
Levered Free Cash Flow	301M	574M	230M	578M	861M
Unlevered Free Cash Flow	298M	574M	230M	578M	861M
Change In Net Working Capital	85.27M	10.57M	62.83M	230M	365M
Net Debt Issued / Repaid	908M	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.93	2.25	-2.47	1.47	6.18
Return on Total Capital	2.07	2.42	-2.71	1.64	6.81
Return On Equity %	6.79	33.25	-35.73	1.53	19.58
Return on Common Equity	6.79	33.25	-35.73	1.53	19.58
Margin Analysis
Gross Profit Margin %	52.62	53.8	49.18	49.79	50.36
SG&A Margin	27.43	26.38	30.91	22.97	20.84
EBITDA Margin %	8.01	9.65	-6.88	4.67	14.45
EBITA Margin %	6.71	8.75	-7.52	4.22	14.2
EBIT Margin %	5.93	8.25	-8.49	3.68	14.04
Income From Continuing Operations Margin %	10.91	63.2	-61.79	1.87	22.74
Net Income Margin %	10.91	63.2	-61.79	1.87	22.74
Net Avail. For Common Margin %	10.91	63.2	-61.79	1.87	22.74
Normalized Net Income Margin	2.92	4.21	-5.99	2.58	8.32
Levered Free Cash Flow Margin	10.29	12.44	4.1	8.19	9.7
Unlevered Free Cash Flow Margin	10.18	12.44	4.1	8.19	9.7
Asset Turnover
Asset Turnover	0.52	0.44	0.46	0.64	0.7
Fixed Assets Turnover	12.8	17.97	14.22	22.31	61.88
Receivables Turnover (Average Receivables)	55.9	48.38	33.96	35.57	39.82
Inventory Turnover (Average Inventory)	-	-	-	-	195.91
Short Term Liquidity
Current Ratio	15.69	12.15	7.07	6.99	3.71
Quick Ratio	15	11.37	6.27	5.94	3.01
Operating Cash Flow to Current Liabilities	0.97	0.72	-0.16	1.05	0.83
Days Sales Outstanding (Average Receivables)	6.55	7.54	10.75	10.26	9.19
Days Outstanding Inventory (Average Inventory)	-	-	-	-	1.87
Average Days Payable Outstanding	34.18	38.78	41.54	37.48	30.01
Cash Conversion Cycle (Average Days)	-	-	-	-	-18.95
Long Term Solvency
Total Debt/Equity	14.26	10.54	16.95	12.68	9.74
Total Debt / Total Capital	12.48	9.54	14.49	11.26	8.88
LT Debt/Equity	14.11	10.4	16.73	12.5	1.64
Long-Term Debt / Total Capital	12.34	9.41	14.31	11.09	1.5
Total Liabilities / Total Assets	17.55	16.54	23.41	19.76	16.99
EBIT / Interest Expense	19.11	108.93	-135.91	-	-
EBITDA / Interest Expense	29.75	137.56	-96.56	-	-
(EBITDA - Capex) / Interest Expense	25.16	123.02	-110.85	-	-
Total Debt / EBITDA	3.38	2.44	-4.13	3.04	0.85
Net Debt / EBITDA	-20.29	-13.77	10.92	-10.29	-3.85
Total Debt / (EBITDA - Capex)	3.99	2.73	-3.6	3.39	0.86
Net Debt / (EBITDA - Capex)	-23.99	-15.4	9.51	-11.47	-3.91
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	85.63	57.43	21.42	26.07	25.78
Gross Profit, 1 Yr. Growth %	78.08	60.95	11	27.63	27.23
EBITDA, 1 Yr. Growth %	-367.29	89.73	-186.17	-186.16	288.79
EBITA, 1 Yr. Growth %	-287.88	105.33	-204.01	-170.62	323.15
EBIT, 1 Yr. Growth %	-249.71	119.15	-224.98	-154.62	379.62
Earnings From Cont. Operations, 1 Yr. Growth %	-355.93	812.23	-218.72	-103.82	1.43K
Net Income, 1 Yr. Growth %	-355.93	812.23	-218.72	-103.82	1.43K
Normalized Net Income, 1 Yr. Growth %	-242.77	127.3	-272.62	-154.28	304.79
Diluted EPS Before Extra, 1 Yr. Growth %	-334.49	784.34	-219.31	-103.76	1.41K
Accounts Receivable, 1 Yr. Growth %	53.85	100.15	59.4	-4.43	29.9
Inventory, 1 Yr. Growth %	-	-	-	-	36.84
Net Property, Plant and Equip., 1 Yr. Growth %	-14.09	42.76	60.96	-69.75	-4.76
Total Assets, 1 Yr. Growth %	122.47	71.85	-19.36	5.04	23.23
Tangible Book Value, 1 Yr. Growth %	134.69	78.7	-43.48	43.19	28.73
Common Equity, 1 Yr. Growth %	112.24	73.94	-26	10.04	27.49
Cash From Operations, 1 Yr. Growth %	501.8	18.7	-125.47	-794.12	71.19
Capital Expenditures, 1 Yr. Growth %	-26.47	21.7	-1.52	-22	-51.28
Levered Free Cash Flow, 1 Yr. Growth %	191.19	90.39	-59.95	149.14	48.9
Unlevered Free Cash Flow, 1 Yr. Growth %	188.21	92.3	-59.97	149.14	48.9
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	65.22	70.95	38.26	23.73	25.93
Gross Profit, 2 Yr. CAGR %	60.79	69.3	33.66	19.02	27.43
EBITDA, 2 Yr. CAGR %	84.81	125.2	28.1	-14.06	83.03
EBITA, 2 Yr. CAGR %	51.49	96.41	46.42	-14.22	72.86
EBIT, 2 Yr. CAGR %	37.44	81.13	65.5	-17.34	61.86
Earnings From Cont. Operations, 2 Yr. CAGR %	122.48	383.19	229.1	-78.72	-23.61
Net Income, 2 Yr. CAGR %	122.48	383.19	229.1	-78.72	-23.61
Normalized Net Income, 2 Yr. CAGR %	45.57	80.14	98.08	-3.09	48.22
Diluted EPS Before Extra, 2 Yr. CAGR %	105.91	355.38	224.83	-78.83	-24.68
Accounts Receivable, 2 Yr. CAGR %	63.22	75.48	78.61	23.53	11.42
Net Property, Plant and Equip., 2 Yr. CAGR %	85.27	10.74	51.59	-30.22	-46.33
Total Assets, 2 Yr. CAGR %	85.55	95.52	17.72	-7.97	13.77
Tangible Book Value, 2 Yr. CAGR %	71.39	104.79	0.5	-10.04	35.77
Common Equity, 2 Yr. CAGR %	74.97	92.14	13.45	-9.76	18.44
Cash From Operations, 2 Yr. CAGR %	575.11	167.27	-43.34	32.75	244.71
Capital Expenditures, 2 Yr. CAGR %	22.19	-5.41	9.48	-12.37	-38.36
Levered Free Cash Flow, 2 Yr. CAGR %	3.09K	223.05	-12.68	0.42	92.6
Unlevered Free Cash Flow, 2 Yr. CAGR %	3.07K	223	-12.26	0.43	92.6
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	63.25	62.58	52.52	34.07	24.41
Gross Profit, 3 Yr. CAGR %	59.45	60.84	47.08	31.62	21.7
EBITDA, 3 Yr. CAGR %	101.66	86.44	63.69	12.04	42.13
EBITA, 3 Yr. CAGR %	63.21	67.65	59.11	14.9	46.02
EBIT, 3 Yr. CAGR %	52.29	60.56	60.06	14.41	48.54
Earnings From Cont. Operations, 3 Yr. CAGR %	99.91	256.09	202.64	-25.52	-11.52
Net Income, 3 Yr. CAGR %	99.91	256.09	202.64	-25.52	-11.52
Normalized Net Income, 3 Yr. CAGR %	50.67	68.88	77.6	28.76	56.07
Diluted EPS Before Extra, 3 Yr. CAGR %	83.73	234.7	191.39	-26.54	-12.2
Accounts Receivable, 3 Yr. CAGR %	62.92	74.7	69.94	45.09	25.62
Net Property, Plant and Equip., 3 Yr. CAGR %	61.33	69.85	25.45	-11.42	-22.6
Total Assets, 3 Yr. CAGR %	91.03	80.86	45.54	13.33	1.44
Tangible Book Value, 3 Yr. CAGR %	83.49	73.79	33.33	13.09	1.38
Common Equity, 3 Yr. CAGR %	85.6	74.62	39.8	12.3	1.26
Cash From Operations, 3 Yr. CAGR %	277.47	278.21	24.55	30.48	44.49
Capital Expenditures, 3 Yr. CAGR %	27.69	22.03	-4.13	-2.23	-27.94
Levered Free Cash Flow, 3 Yr. CAGR %	219.82	1.15K	61.08	24.29	14.51
Unlevered Free Cash Flow, 3 Yr. CAGR %	218.73	1.15K	61.04	24.71	14.52
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	70.18	63.95	52.75	45.75	41.27
Gross Profit, 5 Yr. CAGR %	68.57	63.94	48.59	42.59	38.88
EBITDA, 5 Yr. CAGR %	81.14	78.44	68.19	36.87	70.98
EBITA, 5 Yr. CAGR %	61.73	63.05	56.27	28.33	64.54
EBIT, 5 Yr. CAGR %	57.78	59.24	57.44	23.12	60.8
Earnings From Cont. Operations, 5 Yr. CAGR %	76.24	141.67	144.02	15.38	74.48
Net Income, 5 Yr. CAGR %	76.24	141.67	144.02	15.38	74.48
Normalized Net Income, 5 Yr. CAGR %	48.74	54.47	68.09	35.24	65.29
Diluted EPS Before Extra, 5 Yr. CAGR %	53.45	122.4	130.77	10.94	69.6
Accounts Receivable, 5 Yr. CAGR %	87.03	90.17	69.03	52.08	43.59
Net Property, Plant and Equip., 5 Yr. CAGR %	44.95	45.87	57.36	19	-10.67
Total Assets, 5 Yr. CAGR %	99.82	93.6	57.4	38.03	31.89
Tangible Book Value, 5 Yr. CAGR %	99.77	93.86	44.22	33.55	34.3
Common Equity, 5 Yr. CAGR %	100.95	93.49	52.43	34.1	30.83
Cash From Operations, 5 Yr. CAGR %	93.28	104.75	76.79	151.81	87.03
Capital Expenditures, 5 Yr. CAGR %	20.36	16.4	20.07	6.89	-19.66
Levered Free Cash Flow, 5 Yr. CAGR %	183.95	329.2	90.28	355.2	73.38
Unlevered Free Cash Flow, 5 Yr. CAGR %	183.37	329.18	90.25	355.2	73.38