Shopify Inc. (SHOP) balance sheet
NASDAQ · Technology · Software - Application · 7,600 employees · CEO Tobias Lutke
- Price
- $157.49 -5.63%
- Market cap
- $204B
- Enterprise value
- $203B
- Last report
- Q2 '26 filed 2026-08-05
- Next report
- 2026-11-03 EPS est. $0.46
At the end of Q2 '26 Shopify Inc. (SHOP) held $4.95B in cash and short-term investments against $178M of debt incl. leases. Total assets $14.5B, total liabilities $1.79B, shareholders' equity $12.7B.
Balance sheet
| Balance sheet | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $1.29B | $1.41B | $1.62B | $1.54B | $1.51B | $1.5B | $1.31B | $1.55B | $2.41B | $1.53B | $1.85B | $1.66B | |
| Short-term investments | $3.63B | $3.6B | $3.55B | $3.48B | $3.39B | $3.98B | $4.21B | $4.29B | $3.93B | $4.23B | $3.91B | $3.29B | |
| Receivables | $1.08B | $1.16B | $1.08B | $1.19B | $1.44B | $1.66B | $1.69B | $1.95B | $2.13B | $2.37B | $2.55B | $368M | |
| Inventory | $0 | $19M | $0 | $0 | $0 | $26M | $0 | $0 | $0 | $21M | $0 | $0 | |
| Other current assets | $162M | $7M | $183M | $188M | $211M | $0 | $242M | $235M | $227M | $14M | $207M | $2.5B | |
| Current assets | $6.16B | $6.28B | $6.44B | $6.4B | $6.54B | $7.25B | $7.45B | $8.02B | $8.7B | $8.3B | $8.52B | $7.82B | |
| Property, plant & equipment (net) | $124M | $147M | $148M | $144M | $143M | $140M | $151M | $143M | $145M | $141M | $138M | $53M | |
| Long-term investments | $3.68B | $4.38B | $4.03B | $4.28B | $5.13B | $6B | $5.15B | $5.84B | $5.61B | $6.16B | $4.84B | $5.41B | |
| Goodwill | $427M | $427M | $427M | $449M | $452M | $452M | $491M | $492M | $491M | $491M | $493M | $491M | |
| Intangible assets | $33M | $29M | $25M | $26M | $24M | $22M | $39M | $36.1M | $33M | $30M | $28.1M | $27M | |
| Deferred tax assets | $39M | $44M | $43M | $44M | $39M | $37M | $98M | $31.1M | $29M | $33M | $117M | $30M | |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $21M | $23M | $28.1M | $23M | $39M | $30.1M | $640M | |
| Non-current assets | $4.3B | $5.02B | $4.67B | $4.94B | $5.79B | $6.67B | $5.96B | $6.57B | $6.33B | $6.89B | $5.64B | $6.65B | |
| Total assets | $10.5B | $11.3B | $11.1B | $11.3B | $12.3B | $13.9B | $13.4B | $14.6B | $15B | $15.2B | $14.2B | $14.5B | |
| Liabilities | |||||||||||||
| Accounts payable | $533M | $364M | $587M | $556M | $612M | $360M | $776M | $841M | $969M | $570M | $1.03B | $1.12B | |
| Accrued expenses | $0 | $30M | $0 | $0 | $0 | $48M | $0 | $0 | $0 | $0 | $0 | $0 | |
| Short-term debt | $0 | $0 | $0 | $0 | $0 | $918M | $919M | $919M | $920M | $0 | $16.1M | $0 | |
| Taxes payable | $0 | $91M | $0 | $0 | $0 | $179M | $0 | $0 | $0 | $0 | $0 | $0 | |
| Deferred revenue | $0 | $302M | $0 | $0 | $290M | $283M | $295M | $299M | $300M | $300M | $322M | $335M | |
| Other current liabilities | $304M | $58M | $298M | $301M | $998K | $112M | $0 | $2M | $3.08M | $169M | $6.02M | $0 | |
| Current liabilities | $852M | $898M | $902M | $874M | $921M | $1.96B | $2.01B | $2.08B | $2.21B | $1.39B | $1.38B | $1.46B | |
| Long-term debt | $915M | $916M | $916M | $917M | $917M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Lease obligations (non-current) | $192M | $217M | $212M | $203M | $206M | $190M | $200M | $200M | $176M | $171M | $164M | $168M | |
| Deferred revenue (non-current) | $216M | $196M | $183M | $170M | $159M | $147M | $135M | $123M | $110M | $98M | $86.3M | $79M | |
| Deferred tax liabilities | $5M | $6M | $6M | $10M | $8M | $73M | $5M | $36.1M | $29M | $55M | $0 | $79M | |
| Non-current liabilities | $1.33B | $1.34B | $1.32B | $1.3B | $1.29B | $410M | $340M | $360M | $315M | $324M | $250M | $326M | |
| Total liabilities | $2.18B | $2.23B | $2.22B | $2.17B | $2.21B | $2.37B | $2.35B | $2.44B | $2.53B | $1.72B | $1.63B | $1.79B | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $9.1B | $9.2B | $9.28B | $9.37B | $9.47B | $9.63B | $9.83B | $10B | $10.1B | $10.4B | $10B | $8.64B | |
| Retained earnings | -$1.05B | -$390M | -$663M | -$492M | $336M | $1.63B | $947M | $1.86B | $2.11B | $2.86B | $2.29B | $3.78B | |
| Accumulated other comprehensive income | -$6M | $4M | -$4M | -$5M | -$1M | -$10M | -$6M | $5.01M | -$999K | $1M | -$4.01M | -$7M | |
| Shareholders' equity | $8.28B | $9.07B | $8.89B | $9.17B | $10.1B | $11.6B | $11.1B | $12.2B | $12.5B | $13.5B | $12.5B | $12.7B | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $1.12B | $1.15B | $1.15B | $1.14B | $1.14B | $1.13B | $1.14B | $1.14B | $1.12B | $188M | $180M | $178M | |
| Net debt (debt - cash) | -$165M | -$263M | -$478M | -$404M | -$366M | -$372M | -$171M | -$404M | -$1.3B | -$1.35B | -$1.67B | -$1.48B | |
| Balance sheet | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & equivalents | $84M | $142M | $411M | $650M | $2.7B | $2.5B | $1.65B | $1.41B | $1.5B | $1.53B | |
| Short-term investments | $308M | $796M | $1.56B | $1.81B | $3.68B | $5.27B | $3.4B | $3.6B | $3.98B | $4.23B | |
| Receivables | $21.5M | $69M | $133M | $241M | $422M | $667M | $857M | $1.16B | $1.66B | $2.37B | |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $19M | $26M | $21M | |
| Other current assets | $563K | $6.12M | $3.68M | $12.6M | $33.8M | $12.5M | $30M | $7M | $0 | $14M | |
| Current assets | $423M | $1.03B | $2.13B | $2.74B | $6.88B | $8.54B | $6.05B | $6.28B | $7.25B | $8.3B | |
| Property, plant & equipment (net) | $45.7M | $50.4M | $61.6M | $246M | $211M | $302M | $486M | $147M | $140M | $141M | |
| Long-term investments | $0 | $0 | $0 | $2.5M | $173M | $3.96B | $1.95B | $4.38B | $6B | $6.16B | |
| Goodwill | $15.5M | $20.3M | $38M | $312M | $312M | $357M | $1.84B | $427M | $452M | $491M | |
| Intangible assets | $6.44M | $17.2M | $26.1M | $167M | $136M | $138M | $390M | $29M | $22M | $30M | |
| Deferred tax assets | $0 | $0 | $0 | $19.4M | $52.7M | $48.4M | $41M | $44M | $37M | $33M | |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21M | $39M | |
| Non-current assets | $67.7M | $87.9M | $126M | $747M | $885M | $4.8B | $4.71B | $5.02B | $6.67B | $6.89B | |
| Total assets | $491M | $1.11B | $2.25B | $3.49B | $7.76B | $13.3B | $10.8B | $11.3B | $13.9B | $15.2B | |
| Liabilities | |||||||||||
| Accounts payable | $34.3M | $44.3M | $61.3M | $90.5M | $169M | $284M | $364M | $364M | $360M | $570M | |
| Accrued expenses | $2.59M | $5.64M | $0 | $0 | $0 | $0 | $0 | $30M | $48M | $0 | |
| Short-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $918M | $0 | |
| Taxes payable | $2.36M | $4.12M | $4.97M | $121M | $73.8M | $79.7M | $56M | $91M | $179M | $0 | |
| Deferred revenue | $20.2M | $30.7M | $39.2M | $56.7M | $108M | $217M | $296M | $302M | $283M | $300M | |
| Other current liabilities | $5.79M | $5.77M | $26.5M | $32.4M | $61.9M | $77.8M | $84M | $58M | $112M | $169M | |
| Current liabilities | $66.5M | $94.8M | $139M | $316M | $438M | $703M | $856M | $898M | $1.96B | $1.39B | |
| Long-term debt | $0 | $0 | $0 | $0 | $758M | $911M | $913M | $916M | $0 | $0 | |
| Lease obligations (non-current) | $12.6M | $15M | $22.3M | $143M | $145M | $247M | $465M | $217M | $190M | $171M | |
| Deferred revenue (non-current) | $922K | $1.35M | $1.88M | $5.97M | $21M | $163M | $268M | $196M | $147M | $98M | |
| Deferred tax liabilities | $0 | $1.39M | $1.13M | $8.75M | $0 | $183M | $16M | $6M | $73M | $55M | |
| Non-current liabilities | $13.6M | $17.7M | $25.3M | $157M | $924M | $1.5B | $1.66B | $1.34B | $410M | $324M | |
| Total liabilities | $80.1M | $112M | $164M | $474M | $1.36B | $2.21B | $2.52B | $2.23B | $2.37B | $1.72B | |
| Equity | |||||||||||
| Common stock & paid-in capital | $468M | $1.08B | $2.22B | $3.26B | $6.12B | $8.04B | $8.75B | $9.2B | $9.63B | $10.4B | |
| Retained earnings | -$83.2M | -$123M | -$188M | -$304M | $15.3M | $2.94B | -$522M | -$390M | $1.63B | $2.86B | |
| Accumulated other comprehensive income | -$1.82M | $3.44M | -$12.2M | $1.05M | $8.77M | -$5.97M | -$16M | $4M | -$10M | $1M | |
| Shareholders' equity | $410M | $1B | $2.09B | $3.02B | $6.4B | $11.1B | $8.24B | $9.07B | $11.6B | $13.5B | |
| Debt | |||||||||||
| Total debt (incl. leases) | $13.9M | $16.5M | $24.9M | $152M | $913M | $1.17B | $1.4B | $1.15B | $1.13B | $188M | |
| Net debt (debt - cash) | -$70.1M | -$125M | -$386M | -$498M | -$1.79B | -$1.33B | -$253M | -$263M | -$372M | -$1.35B | |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31
Data as of 2026-11-01