Shopify Inc. (SHOP) Operating margin 2017–2025
Shopify Inc. (SHOP) operating margin by fiscal year — reported operating income divided by reported revenue.
12.7%FY2025 · since FY2017: -7.3% → 12.7%
| Fiscal year | Value | YoY |
|---|---|---|
| FY2025 | 12.7% | +0.6 pp |
| FY2024 | 12.1% | +32.2 pp |
| FY2023 | -20.1% | -5.4 pp |
| FY2022 | -14.7% | -20.5 pp |
| FY2021 | 5.8% | +2.7 pp |
| FY2020 | 3.1% | +12.0 pp |
| FY2019 | -8.9% | -0.4 pp |
| FY2018 | -8.6% | -1.3 pp |
| FY2017 | -7.3% | — |
Operating margin = reported operating income ÷ reported revenue for the same fiscal year. Operating-loss years show as a negative margin.
Source: SEC XBRL filings · For reference only · Not investment advice
More SHOP financial trends
SHOP RevenueSHOP Net incomeSHOP Net marginSHOP Gross profitSHOP Gross marginSHOP Operating incomeSHOP Operating cash flowSHOP Free cash flowSHOP Capital expendituresSHOP Return on equitySHOP Stock buybacksSHOP Dividends paidSHOP Total assetsSHOP Total liabilitiesSHOP Shareholders’ equitySHOP overview →