Shopify annual free cash flow
2013
2014
2015
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2017
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2019
2020
2021
2022
2023
2024
2025
Shopify Free Cash Flow (FCF) History (SHOP)
Shopify reported $2.01B in free cash flow for fiscal 2025, an increase of 25.67% from the previous fiscal year, with a free cash flow margin of 17.37%.
View full Shopify company overviewShopify free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.01B | $410.0M | +25.67% | +17.37% |
| 2024 | 2024-12-31 | $1.60B | $692.0M | +76.46% | +17.98% |
| 2023 | 2023-12-31 | $905.0M | $1.09B | — | +12.82% |
| 2022 | 2022-12-31 | −$186.0M | −$670.9M | — | −3.32% |
| 2021 | 2021-12-31 | $484.9M | $101.7M | +26.54% | +10.51% |
| 2020 | 2020-12-31 | $383.2M | $369.4M | +2665.77% | +13.08% |
| 2019 | 2019-12-31 | $13.9M | $32.5M | — | +0.88% |
| 2018 | 2018-12-31 | −$18.6M | −$6.5M | — | −1.74% |
| 2017 | 2017-12-31 | −$12.1M | −$2.4M | — | −1.80% |
| 2016 | 2016-12-31 | −$9.8M | −$9.0M | — | — |
| 2015 | 2015-12-31 | −$769,000 | $20.6M | — | — |
| 2014 | 2014-12-31 | −$21.4M | −$19.3M | — | — |
| 2013 | 2013-12-31 | −$2.1M | — | — | — |
Shopify quarterly free cash flow
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $654.0M | $232.0M | +54.98% | +18.25% |
| Q1 2026 | 2026-03-31 | $476.0M | $113.0M | +31.13% | +15.02% |
| Q4 2025 | 2025-12-31 | $715.0M | $104.0M | +17.02% | +19.47% |
| Q3 2025 | 2025-09-30 | $507.0M | $86.0M | +20.43% | +17.83% |
| Q2 2025 | 2025-06-30 | $422.0M | $89.0M | +26.73% | +15.75% |
| Q1 2025 | 2025-03-31 | $363.0M | $131.0M | +56.47% | +15.38% |
| Q4 2024 | 2024-12-31 | $611.0M | — | — | +21.73% |
| Q3 2024 | 2024-09-30 | $421.0M | — | — | +19.47% |
| Q2 2024 | 2024-06-30 | $333.0M | — | — | +16.28% |
| Q1 2024 | 2024-03-31 | $232.0M | — | — | +12.47% |
Shopify free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $383.2M to $2.01B, a compound annual growth rate of 39.26%. Shopify's latest reported quarter, Q2 2026, generated $654.0M in free cash flow, an increase of 54.98% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Shopify filings at SEC.gov ↗