Shopify () EBITDA margin US GAAP (year values)

FY2021 FY2022 FY2023 FY2024 FY2025   LTM ? 5 years average
EBITDA margin, % ? 69.6% -10.6% 2.04% 15.1% 16.7%   12.9%  
Changes by years, y/y, % +59pp -80pp +13pp +13pp +2pp     19%

Shopify. EBITDA margin, %

Shopify. EBITDA margin, changes, pp

Shopify () EBITDA margin US GAAP (quarter values)

FY2025Q2 FY2025Q3 FY2025Q4 FY2026Q1 FY2026Q2   LTM ?
EBITDA margin, % ? 14.1% 17.7% 20.5% 15.9% 17.8%   12.9%
Changes by years, y/y, % 0pp +2pp +1pp +4pp +4pp    
Changes by quarters, q/q, % +2pp +4pp +3pp -5pp +2pp    

Shopify. EBITDA margin, %

Shopify. EBITDA margin, changes, pp

Shopify. EBITDA margin, changes, pp