Shopify Inc. (SHOP) Operating Margin: 12.70%
Is Shopify Inc.’s operating margin high or low?
Shopify Inc.'s operating margin of 12.70% is 7427% above its 5-year average of -0.17%, near the high end of its 5-year range (-20.08%–12.70%).
The operating margin for Shopify Inc. (SHOP) is 12.70% as of Wednesday, June 10, 2026. It is above its 12-month average by 2.38% (12.40%).
SHOP Operating Margin Chart
SHOP Average Operating Margin Chart
SHOP Current vs Average Operating Margin Chart
SHOP Operating Margin Metrics
OPERATING MARGIN
12.70%
OPERATING MARGIN AVG TTM
12.40%
OPERATING MARGIN AVG 3Y
-2.49%
OPERATING MARGIN AVG 5Y
-0.17%
OPERATING MARGIN AVG 10Y
-4.00%
OPERATING MARGIN AVG 15Y
-5.68%
OPERATING MARGIN AVG 20Y
-5.68%
CURRENT VS TTM AVG
+2.38%
CURRENT VS 3Y AVG
+610.55%
CURRENT VS 5Y AVG
+7426.92%
CURRENT VS 10Y AVG
+417.21%
CURRENT VS 15Y AVG
+323.65%
CURRENT VS 20Y AVG
+323.65%
SHOP Competitors' Operating Margin
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Shopify Inc. (SHOP) | — | 12.70% | 12.40% | -2.49% | -0.17% |
| Uber Technologies, Inc. (UBER) | $143.27B | 10.70% | 8.53% | 3.57% | -8.56% |
| Salesforce, Inc. (CRM) | $143.61B | 21.47% | 20.24% | 14.54% | 10.39% |
| CrowdStrike Holdings, Inc. (CRWD) | $164.18B | -6.10% | -4.57% | -4.43% | -6.35% |
| ServiceNow, Inc. (NOW) | $110.32B | 13.74% | 13.08% | 9.89% | 8.05% |
| Palo Alto Networks, Inc. (PANW) | $177.55B | 13.48% | 11.00% | 6.05% | 1.96% |
| Western Digital Corporation (WDC) | $178.45B | 24.52% | 9.07% | 5.53% | 5.22% |
| Cadence Design Systems, Inc. (CDNS) | $107.82B | 31.15% | 30.13% | 30.25% | 28.52% |
| Accenture plc (ACN) | $106.76B | 14.68% | 14.73% | 14.61% | 14.70% |
| Fortinet, Inc. (FTNT) | $101.39B | 30.62% | 30.45% | 26.56% | 24.37% |
Operating Efficiency
Gross Margin
48.1%
Operating Margin
12.7%
Shopify Inc. Operating Margin Formula & Definition
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Shopify Inc. Operating Margin FAQ
- What is the operating margin for Shopify Inc. (SHOP)?
- The operating margin for SHOP stock is 12.70%.
- Is Shopify Inc.'s operating margin high or low?
- Shopify Inc.'s operating margin of 12.70% is 7427% above its 5-year average of -0.17%, near the high end of its 5-year range (-20.08%–12.70%).
- What is the TTM average operating margin for Shopify Inc. (SHOP)?
- The TTM average operating margin for SHOP stock is 12.40%.
- What is the 3Y average operating margin for Shopify Inc. (SHOP)?
- The 3Y average operating margin for SHOP stock is -2.49%.
- What is the 5Y average operating margin for Shopify Inc. (SHOP)?
- The 5Y average operating margin for SHOP stock is -0.17%.
- What is the 10Y average operating margin for Shopify Inc. (SHOP)?
- The 10Y average operating margin for SHOP stock is -4.00%.
- What is the 15Y average operating margin for Shopify Inc. (SHOP)?
- The 15Y average operating margin for SHOP stock is -5.68%.
- What is the 20Y average operating margin for Shopify Inc. (SHOP)?
- The 20Y average operating margin for SHOP stock is -5.68%.
Shopify Inc. Operating Margin History
| DATE | OPERATING MARGIN |
|---|---|
| 2025-12-31 | 12.70% |
| 2024-12-31 | 12.11% |
| 2023-12-31 | -20.08% |
| 2022-12-31 | -14.68% |
| 2021-12-31 | 5.83% |
| 2020-12-31 | 3.08% |
| 2019-12-31 | -8.94% |
| 2018-12-31 | -8.56% |
| 2017-12-31 | -7.30% |
| 2016-12-31 | -9.55% |
| 2015-12-31 | -8.65% |
| 2014-12-31 | -20.58% |
| 2013-12-31 | -8.50% |
| 2012-12-31 | -6.38% |