Superworth

Shopify profit margin SHOP

Gross, operating and net profit as a share of revenue over the last twelve months, from 2024.

Net margin, 12 months
14.5%
Operating margin, 12 months
13.9%
Net margin on a year earlier
−8.9 pts
Peer median
20.7%

Over the twelve months to Jun 30, 2026, Shopify kept 14.5% of its revenue as net profit, with an operating margin of 13.9% and a gross margin of 47.8%.

The median for 10 application software stocks of a similar size is 20.7%.

Profit margin over time

GrossOperatingNet

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearNet marginOperating marginGross margin
FY202510.7%12.7%48.1%
FY202422.7%12.1%50.4%

Quarter by quarter

QuarterEndedNet margin, 12 monthsChange on a yearOperating margin
Q2 FY2614.5%−8.9 pts13.9%
Q1 FY2610.8%−6.4 pts13.3%
Q4 FY2510.7%−12.1 pts12.7%
Q3 FY2516.7%n/a12.2%
Q2 FY2523.4%n/a12.4%
Q1 FY2517.2%n/a12.7%
Q4 FY2422.7%n/a12.1%
Q3 FY24n/an/an/a
Q2 FY24n/an/an/a
Q1 FY24n/an/an/a

Against its peers

Companies in Software - Application nearest Shopify's size, closest first, today.

CompanyProfit margin
SHOPShopify14.5%
CRMSalesforce22.0%
NOWServiceNow11.3%
UBERUber Technologies17.3%
ADPAutomatic Data Processing20.1%
SNOWSnowflake−20.1%
ADBEAdobe28.0%
DDOGDatadog4.5%
INTUIntuit21.3%
CDNSCadence Design Systems23.6%
APPAppLovin64.6%
Peer median20.7%

Where Shopify ranks

What the profit margin tells you

Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).

Compare within an industry. 10% is superb for a retailer and poor for a software company.

More on Shopify

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.