SHOPIFY INC. (SHOP) closed fiscal year 2025 with a gross margin of 48.1 % and a net margin of 10.7 %.
SHOPIFY INC. (SHOP) closed fiscal year 2025 with a gross margin of 48.1 % and a net margin of 10.7 %. The same year shows an EBITDA margin of 13.0 % and an EBIT margin of 12.7 %. The free cash flow margin was 17.4 %. Against the previous year the gross margin moved −2.3 pp and the net margin −12.1 pp. Across the period the gross margin ranges between 48.1 % in 2025 and 50.4 % in 2024. The series covers 4 fiscal years, from 2022 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Gross margin (%) | 49.18 % | 49.79 % | 50.36 % | 48.07 % |
| EBITDA margin (%) | -13.02 % | -19.09 % | 12.51 % | 12.97 % |
| EBIT margin (%) | -14.68 % | -20.08 % | 12.11 % | 12.70 % |
| Net margin (%) | -61.79 % | 1.87 % | 22.74 % | 10.65 % |
| FCF margin (%) | -3.32 % | 12.82 % | 17.98 % | 17.37 % |
