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