Shopify Inc. (SHOP): revenue growth, 5-year cagr, 10 filed years
Revenue CAGR 5y at Shopify Inc. was 31.6% in FY2025, the newest filed year. Across the 9 computed years from FY2017 it ranged from 31.6% (FY2025) to 95.3% (FY2017), with a median of 64.0%.
Tonight's figure on the company page: 31.6%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | Revenue CAGR 5y | Read from |
|---|---|---|
| FY2016 No positive revenue is on file for the fiscal year five years earlier, so a five-year growth rate cannot be computed. | n/a | 40-F, filed 2017-02-15 |
| FY2017 | 95.3% | 40-F, filed 2018-02-15 |
| FY2018 | 84.5% | 40-F, filed 2019-02-12 |
| FY2019 | 71.9% | 40-F, filed 2020-02-12 |
| FY2020 | 70.2% | 40-F, filed 2021-02-17 |
| FY2021 | 64.0% | 40-F, filed 2022-02-16 |
| FY2022 | 52.8% | 10-K, filed 2025-02-11 |
| FY2023 | 45.8% | 40-F, filed 2024-02-13 |
| FY2024 | 41.3% | 10-K, filed 2025-02-11 |
| FY2025 | 31.6% | 10-K, filed 2026-02-11 |
How each year is computed
(Revenue this year / revenue five fiscal years earlier)^(1/5) - 1, x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.