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Microsoft vs Shopify: revenue, profit, margins and growth compared

Microsoft brought in $331.8B of revenue in fiscal 2026, Shopify $11.6B in fiscal 2025. Revenue changed by +17.8% at Microsoft and +30.1% at Shopify on the year before, so Shopify grew faster. Microsoft kept 40.3% of its revenue as net profit, Shopify 10.7%. Free cash flow was $67B at Microsoft and $2B at Shopify.

Side by side, latest fiscal year

MSFTSHOP
Fiscal year endedFY2026 (June 30, 2026)FY2025 (December 31, 2025)
Revenue$331.8B$11.6B
Revenue growth+17.8%+30.1%
Net income$133.7B$1.2B
Net margin40.3%10.7%
Free cash flow$67B$2B
Free cash flow margin20.2%17.4%
Earnings per share (diluted)$17.95$0.94
Cash$20.9B$1.5B
Debt$40.3Bn/a
Price to earnings28.8151.3
Market value$3.83T$184.3B
Dividend yield0.71%n/a
Rank by revenue in sector#3 of 530 · Technology#54 of 530 · Technology

Over the years

Revenue
MSFT FY2019: $125.8BMSFT FY2020: $143BMSFT FY2021: $168.1BMSFT FY2022: $198.3BMSFT FY2023: $211.9BMSFT FY2024: $245.1BMSFT FY2025: $281.7BMSFT FY2026: $331.8BSHOP FY2018: $1.1BSHOP FY2019: $1.6BSHOP FY2020: $2.9BSHOP FY2021: $4.6BSHOP FY2022: $5.6BSHOP FY2022: $7.1BSHOP FY2024: $8.9BSHOP FY2025: $11.6BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSFT $331.8BSHOP $11.6B
Net income
MSFT FY2019: $39.2BMSFT FY2020: $44.3BMSFT FY2021: $61.3BMSFT FY2022: $72.7BMSFT FY2023: $72.4BMSFT FY2024: $88.1BMSFT FY2025: $101.8BMSFT FY2026: $133.7BSHOP FY2018: -$64.6MSHOP FY2019: -$124.8MSHOP FY2020: $319.5MSHOP FY2021: $2.9BSHOP FY2022: -$3.5BSHOP FY2022: $132MSHOP FY2024: $2BSHOP FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSFT $133.7BSHOP $1.2B
Net margin
MSFT FY2019: 31.2%MSFT FY2020: 31.0%MSFT FY2021: 36.5%MSFT FY2022: 36.7%MSFT FY2023: 34.1%MSFT FY2024: 36.0%MSFT FY2025: 36.1%MSFT FY2026: 40.3%SHOP FY2018: -6.0%SHOP FY2019: -7.9%SHOP FY2020: 10.9%SHOP FY2021: 63.2%SHOP FY2022: -61.8%SHOP FY2022: 1.9%SHOP FY2024: 22.7%SHOP FY2025: 10.7%FY18FY19FY20FY21FY22FY23FY24FY25FY26
MSFT 40.3%SHOP 10.7%
Revenue growth
MSFT FY2020: +13.6%MSFT FY2021: +17.5%MSFT FY2022: +18.0%MSFT FY2023: +6.9%MSFT FY2024: +15.7%MSFT FY2025: +14.9%MSFT FY2026: +17.8%SHOP FY2019: +47.0%SHOP FY2020: +85.6%SHOP FY2021: +57.4%SHOP FY2022: +21.4%SHOP FY2022: +26.1%SHOP FY2024: +25.8%SHOP FY2025: +30.1%FY19FY20FY21FY22FY23FY24FY25FY26
MSFT +17.8%SHOP +30.1%
Free cash flow
MSFT FY2019: $38.3BMSFT FY2020: $45.2BMSFT FY2021: $56.1BMSFT FY2022: $65.1BMSFT FY2023: $59.5BMSFT FY2024: $74.1BMSFT FY2025: $71.6BMSFT FY2026: $67BSHOP FY2018: -$18.6MSHOP FY2019: $13.9MSHOP FY2020: $383.2MSHOP FY2021: $484.9MSHOP FY2022: -$186MSHOP FY2022: $905MSHOP FY2024: $1.6BSHOP FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSFT $67BSHOP $2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Microsoft and Shopify

Which is bigger by revenue, Microsoft or Shopify?

Microsoft is bigger by revenue: $331.8B in fiscal 2026, against $11.6B for Shopify in fiscal 2025.

Which keeps more of its revenue as profit, Microsoft or Shopify?

Microsoft had a net margin of 40.3% in fiscal 2026; Shopify had 10.7% in fiscal 2025.

Which grew revenue faster, Microsoft or Shopify?

In their latest fiscal years revenue changed by +17.8% at Microsoft and +30.1% at Shopify.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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