Shopify Inc. (SHOP) Gross margin 2017–2025
Shopify Inc. (SHOP) gross margin by fiscal year — reported gross profit divided by reported revenue.
48.1%FY2025 · since FY2017: 56.5% → 48.1%
| Fiscal year | Value | YoY |
|---|---|---|
| FY2025 | 48.1% | -2.3 pp |
| FY2024 | 50.4% | +0.6 pp |
| FY2023 | 49.8% | +0.6 pp |
| FY2022 | 49.2% | -4.6 pp |
| FY2021 | 53.8% | +1.2 pp |
| FY2020 | 52.6% | -2.2 pp |
| FY2019 | 54.9% | -0.7 pp |
| FY2018 | 55.6% | -0.9 pp |
| FY2017 | 56.5% | — |
Gross margin = reported gross profit ÷ reported revenue for the same fiscal year.
Source: SEC XBRL filings · For reference only · Not investment advice
More SHOP financial trends
SHOP RevenueSHOP Net incomeSHOP Net marginSHOP Gross profitSHOP Operating incomeSHOP Operating marginSHOP Operating cash flowSHOP Free cash flowSHOP Capital expendituresSHOP Return on equitySHOP Stock buybacksSHOP Dividends paidSHOP Total assetsSHOP Total liabilitiesSHOP Shareholders’ equitySHOP overview →