Shopify (BUE:SHOP) EBIT: ARS2,884,932.96 Mil (TTM As of Mar. 2026)


What is Shopify EBIT?

Shopify BUE:SHOP 83 EBIT is ARS2,884,932.96 Mil as of Mar. 2026. GuruFocus rates BUE:SHOP with a GF Score™ of 83/100. The stock has 2 warning signs investors should review.

Shopify's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ARS696,326.06 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ARS2,884,932.96 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Shopify's annualized ROC % for the quarter that ended in Mar. 2026 was 22.56%. Shopify's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1,401.00%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

Shopify  (BUE:SHOP) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Shopify's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2785304.22 * ( 1 - 8.36% )/( (12360880.224 + 10268711.945)/ 2 )
=2552452.787208/11314796.0845
=22.56 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=22046666.242 - 1315049.023 - ( 8370736.995 - max(0, 2020472.672 - 12041552.646+8370736.995))
=12360880.224

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=19744618.924 - 1445785.424 - ( 8030121.555 - max(0, 1916994.019 - 11878092.044+8030121.555))
=10268711.945

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Shopify's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2785304.22/( ( (204659.947 + max(-1153933.746, 0)) + (192957.822 + max(-1468157.346, 0)) )/ 2 )
=2785304.22/( ( 204659.947 + 192957.822 )/ 2 )
=2785304.22/198808.8845
=1,401.00 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(611076.864 + 30481.269 + 200305.48) - (1315049.023 + 435446.696 + 245301.64)
=-1153933.746

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(138426.264 + 0 + 288038.488) - (1445785.424 + 448836.674 + -2.3283064365387E-10)
=-1468157.346

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Shopify's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=2884932.96/0.000
= %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Shopify EBIT Related Terms

Shopify EBIT Historical Data

* Premium members only.

The historical data trend for Shopify's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Shopify EBIT Chart

Shopify Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 317,284.52 -115,175.55 26,714.00 1,315,020.01 2,736,056.74

Shopify Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 296,358.27 440,463.52 666,784.09 1,081,359.30 696,326.06

BUE:SHOP vs CRM, UBER, NOW: EBIT Comparison

For the Software - Application subindustry, Shopify's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Shopify EV-to-EBIT vs Software Industry

For the Software industry and Technology sector, Shopify's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Shopify's EV-to-EBIT falls into.


Shopify EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ARS2,884,932.96 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of ARS2,884,932.96 Mil mean?
Shopify (BUE:SHOP) has a EBIT of ARS2,884,932.96 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Shopify.
Is Shopify's EBIT too high?
Shopify's current EBIT is ARS2,884,932.96 Mil. Overall, Shopify has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Shopify's EBIT compare to CRM and UBER?
Shopify's EBIT of ARS2,884,932.96 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Software company?
A good EBIT depends on the Software industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Shopify. Shopify's current EBIT is ARS2,884,932.96 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shopify stock overvalued right now?
Shopify (BUE:SHOP) has a current EBIT of ARS2,884,932.96 Mil. The current EBIT is ARS2,884,932.96 Mil. Shopify's overall GF Score™ is 83/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Shopify (BUE:SHOP), the current EBIT is ARS2,884,932.96 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Shopify Business Description

Address 151 O\'Connor Street, Ground Floor, Ottawa, ON, CAN, K2P 2L8
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.