Current Net Margin
20.23%
Shopify Inc. currently has a net profit margin of 20.23%. Net margin is a key efficiency ratio that measures what percentage of each dollar of revenue actually results in profit for the company.
Historical Margin Data
Quarterly and annual profitability trends
| Date | Revenue ($B) | Net Income ($B) | Net Margin | Change (bps) |
|---|---|---|---|---|
| 2025-12-31 | 3.67 | 0.74 | 20.23% | ▲1095 |
| 2025-09-30 | 2.84 | 0.26 | 9.28% | ▼2452 |
| 2025-06-30 | 2.68 | 0.91 | 33.81% | ▲6270 |
| 2025-03-31 | 2.36 | -0.68 | -28.90% | ▼7488 |
| 2024-12-31 | 2.81 | 1.29 | 45.98% | ▲768 |
| 2024-09-30 | 2.16 | 0.83 | 38.30% | ▲2994 |
| 2024-06-30 | 2.04 | 0.17 | 8.36% | ▲2303 |
| 2024-03-31 | 1.86 | -0.27 | -14.67% | ▼4531 |
| 2023-12-31 | 2.14 | 0.66 | 30.64% | ▼1125 |
| 2023-09-30 | 1.71 | 0.72 | 41.89% | ▲11928 |
| 2023-06-30 | 1.69 | -1.31 | -77.39% | ▼8190 |
| 2023-03-31 | 1.51 | 0.07 | 4.51% | ▲4046 |
| 2022-12-31 | 1.73 | -0.62 | -35.95% | ▼2431 |
| 2022-09-30 | 1.37 | -0.16 | -11.64% | ▲8133 |
| 2022-06-30 | 1.29 | -1.20 | -92.97% | ▲2945 |
| 2022-03-31 | 1.20 | -1.47 | -122.43% | ▼9552 |
| 2021-12-31 | 1.38 | -0.37 | -26.91% | ▼12910 |
| 2021-09-30 | 1.12 | 1.15 | 102.20% | ▲2367 |
| 2021-06-30 | 1.12 | 0.88 | 78.53% | ▼4876 |
| 2021-03-31 | 0.99 | 1.26 | 127.29% | ▲11462 |
| 2020-12-31 | 0.98 | 0.12 | 12.67% | ▼1223 |
| 2020-09-30 | 0.77 | 0.19 | 24.90% | ▲1986 |
| 2020-06-30 | 0.71 | 0.04 | 5.04% | ▲1173 |
| 2020-03-31 | 0.47 | -0.03 | -6.69% | ▼684 |
| 2019-12-31 | 0.51 | 0.00 | 0.15% | ▲1879 |
| 2019-09-30 | 0.39 | -0.07 | -18.64% | ▼1071 |
| 2019-06-30 | 0.36 | -0.03 | -7.92% | ▼39 |
| 2019-03-31 | 0.32 | -0.02 | -7.54% | ▼710 |
| 2018-12-31 | 0.34 | -0.00 | -0.44% | ▲814 |
| 2018-09-30 | 0.27 | -0.02 | -8.58% | ▲119 |
| 2018-06-30 | 0.24 | -0.02 | -9.78% | ▼236 |
| 2018-03-31 | 0.21 | -0.02 | -7.42% | ▼608 |
| 2017-12-31 | 0.22 | -0.00 | -1.34% | ▲413 |
| 2017-09-30 | 0.17 | -0.01 | -5.47% | ▲378 |
| 2017-06-30 | 0.15 | -0.01 | -9.25% | ▲142 |
| 2017-03-31 | 0.13 | -0.01 | -10.68% | ▼387 |
| 2016-12-31 | 0.13 | -0.01 | -6.80% | ▲236 |
| 2016-09-30 | 0.10 | -0.01 | -9.16% | ▲58 |
| 2016-06-30 | 0.09 | -0.01 | -9.74% | ▲254 |
| 2016-03-31 | 0.07 | -0.01 | -12.28% | ▼329 |
| 2015-12-31 | 0.07 | -0.01 | -8.99% | ▼17 |
| 2015-09-30 | 0.05 | -0.00 | -8.82% | ▼149 |
| 2015-06-30 | 0.04 | -0.00 | -7.34% | ▲479 |
| 2015-03-31 | 0.04 | -0.00 | -12.13% | ▲151 |
| 2014-12-31 | 0.04 | -0.00 | -13.64% | ▲197 |
| 2014-09-30 | 0.03 | -0.00 | -15.61% | ▲1345 |
| 2014-06-30 | 0.02 | -0.01 | -29.05% | ▲478 |
| 2014-03-31 | 0.02 | -0.01 | -33.84% | — |
* Net margin = (Net Income / Total Revenue) * 100. Based on official SEC filings.