Operating Income for Shopify (SHOP)
According to Shopify's latest reported financial statements, the company's current operating income (TTM) is $1.47B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
SHOP
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$1.47B
YoY change
+36.6%
5Y CAGR
+74.7%
Peak year (2025)
$1.47B
Cumulative operating income
$297.25M
Operating Income history chart for Shopify (SHOP) from 2012 to 2025
Operating Income history table for Shopify (SHOP) from 2012 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $1.47B | +36.6% | ||
| 2024 | $1.07B | -175.8% | ||
| 2023 | -$1.42B | +72.5% | ||
| 2022 | -$822.00M | -406.0% | ||
| 2021 | $268.64M | +198.0% | ||
| 2020 | $90.15M | -163.9% | ||
| 2019 | -$141.15M | +53.6% | ||
| 2018 | -$91.92M | +87.0% | ||
| 2017 | -$49.16M | +32.3% | ||
| 2016 | -$37.16M | +109.3% | ||
| 2015 | -$17.76M | -17.9% | ||
| 2014 | -$21.61M | +406.3% | ||
| 2013 | -$4.27M | +182.0% | ||
| 2012 | -$1.51M | — |
Operating Income values are taken from Shopify's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of Shopify (SHOP) operating income is $1.47B – surged 36.6% year-over-year.
Shopify operating income has grown for 2 consecutive years, with a +74.7% compound annual growth rate over 2020–2025 (5 years).
The dataset's maximum operating income sits at $1.47B (2025); the minimum reading of -$1.42B dates to 2023.
Shopify (SHOP) sits 9th of 8 Technology peers we track on this metric, against a peer median of $77.01B.
Shopify Operating Income by Year
Shopify Operating Income 2025: $1.47B
Shopify operating income in 2025 was $1.47B, surged 36.6% from 2024. This figure represents the highest annual value in the available history.
Shopify Operating Income 2024: $1.07B
Shopify operating income in 2024 was $1.07B, plunged 175.8% below 2023.
Shopify Operating Income 2023: -$1.42B
Shopify operating income in 2023 was -$1.42B, surged 72.5% from 2022. This figure represents the lowest annual value in the available history.
Shopify Operating Income 2022: -$822.00M
Shopify operating income in 2022 was -$822.00M, plunged 406.0% below 2021.
Shopify Operating Income 2021: $268.64M
Shopify operating income in 2021 was $268.64M.
See more financial history for Shopify (SHOP).
Sector peers — Operating Income
Companies in the same sector as Shopify, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | $1.96T | Technology |
| Apple Inc. (AAPL) | $133.05B | Technology |
| NVIDIA Corporation (NVDA) | $130.39B | Technology |
| Microsoft Corporation (MSFT) | $128.53B | Technology |
| Broadcom Inc. (AVGO) | $25.48B | Technology |
| ASML Holding N.V. (ASML) | $11.30B | Technology |
| Micron Technology, Inc. (MU) | $9.87B | Technology |
| Advanced Micro Devices, Inc. (AMD) | $3.69B | Technology |
Frequently asked questions
What is Shopify's operating income?
- Latest reported operating income for Shopify (SHOP) is $1.47B (period ending December 31, 2025).
How has Shopify operating income changed year-over-year?
- Shopify (SHOP) operating income changed +36.6% year-over-year on the latest annual filing.
What is the long-term growth rate of Shopify operating income?
- Shopify (SHOP) operating income compound annual growth rate is +74.7% over the most recent 5 years available.
When did Shopify operating income hit its highest annual value?
- Shopify operating income reached its highest annual value of $1.47B in 2025.
What was Shopify operating income in 2024?
- Shopify (SHOP) operating income in 2024 was $1.07B.
What was Shopify operating income in 2025?
- Shopify (SHOP) operating income in 2025 was $1.47B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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