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EBITDA Margin for Shopify (SHOP)

As of · Reported

Metric

TTM

12.9%

YoY change

−2.10pp

Trough year (2014)

-16.1%

Peak year (2021)

69.6%

EBITDA Margin history chart for Shopify (SHOP) from 2012 to 2025

Latest: 13.0%

EBITDA Margin change chart for Shopify (SHOP) from 2012 to 2025

Latest: −2.10pp

EBITDA Margin history table for Shopify (SHOP) from 2012 to 2025

  • 202513.0%-2.10pp
  • 202415.1%+13.03pp
  • 20232.0%+12.65pp
  • 2022-10.6%-80.17pp
  • 202169.6%+58.67pp
  • 202010.9%+14.70pp
  • 2019-3.8%+2.23pp
  • 2018-6.0%-2.22pp
  • 2017-3.8%+2.13pp
  • 2016-6.0%-0.83pp
  • 2015-5.1%+11.01pp
  • 2014-16.1%-11.14pp
  • 2013-5.0%-1.85pp
  • 2012-3.2%—

EBITDA Margin values are taken from Shopify's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About EBITDA Margin at Shopify (SHOP)

According to Shopify's latest reported financial statements, the company's latest reported EBITDA margin is 12.9%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

2025's annual EBITDA margin for Shopify (SHOP) came in at 12.97% – contracted 2.1 percentage points year-over-year.

Across the available history, EBITDA margin reached its high of 69.56% in 2021 and its low of -16.13% in 2014.

Shopify EBITDA Margin by Year

Shopify EBITDA Margin 2025: 13.0%

In 2025, Shopify reported EBITDA margin of 12.97%, contracted 2.1 percentage points from 2024.

Shopify EBITDA Margin 2024: 15.1%

Shopify EBITDA margin in 2024 was 15.07%, expanded 13.0 percentage points from 2023.

Shopify EBITDA Margin 2023: 2.0%

2023's EBITDA margin for Shopify came in at 2.04%, expanded 12.6 percentage points from 2022.

Shopify EBITDA Margin 2022: -10.6%

Shopify posted EBITDA margin of -10.61% in 2022, contracted 80.2 percentage points from 2021.

Shopify EBITDA Margin 2021: 69.6%

Shopify EBITDA margin in 2021 was 69.56%.

See more financial history for Shopify (SHOP).

Sector peers by EBITDA Margin

Technology peers of Shopify (SHOP), ranked by their latest EBITDA margin

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No dividends paid by this company.