Company / R&D Expense
SHOPIFY INC. R&D Expense History
FY2022-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$1.5B
FY2025
5-year range
$1.4B / $1.7B
FY2022-FY2025
Trend
+12.4%
vs FY2024
Sector context
#31 of 254
Information Technology
What the data says
SHOPIFY INC.'s r&d expense of $1.5B is higher than 88% of companies in the Information Technology sector (FY2025). Declined from $1.7B to $1.5B over the past 2 years.
Based on SEC 10-K filings.
$1.5B in FY2025 with a 3-year CAGR of +0.7%. Top quartile in the Information Technology sector.
Declined from $1.7B to $1.5B over the past 2 years.
Information Technology sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +0.7%
- 5-Year CAGR
- -
- 10-Year CAGR
- -
Sector benchmark
Top 12% in Information TechnologyTop 12% of 254This company $1.5B Sector average $1.0B
▼
+50.0% above sector average
Key checks
Key Insights
- 3-year CAGR of +0.7%, indicating consistent growth.
- In FY2025, r&d expense increased 12.4% year-over-year.
- Ranks #31 out of 254 companies in the Information Technology sector.
Company context
Key Data Points
- Altman Z-Score 4.84 (safe zone, above 2.9 threshold)
- Strong profit margin: 22.7%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $1.5B | +12.4% |
| FY2024 | $1.4B | -21.0% |
| FY2023 | $1.7B | +15.1% |
| FY2022 | $1.5B | - |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026