> ## Documentation Index
> Fetch the complete documentation index at: https://docs.upstackdata.com/llms.txt
> Use this file to discover all available pages before exploring further.

# New Customer CM4 per Order: First-Order Operating Profit

> Track New Customer CM4 per order for your Shopify store. Measure operating profit per first-time buyer order.

<Tip>
  NC CM4 per Order measures the average operating profit per new customer order—your true profit from each first-time buyer transaction.
</Tip>

## Formula

<Info>
  **NC CM4 per Order** = **NC CM4** ÷ **New Customer Orders**
</Info>

### Formula Components

| Metric                                                                       | Definition                    |
| ---------------------------------------------------------------------------- | ----------------------------- |
| [**NC CM4**](/reference/metrics/orders/contribution-margin/new-customer-cm4) | New customer operating profit |
| [**New Customers**](/reference/metrics/orders/customers/new-customers)       | Count of new customer orders  |

| Metadata        |                                                                      |
| --------------- | -------------------------------------------------------------------- |
| **Type**        | Currency                                                             |
| **Data Source** | [Shopify](/sources/shopify), [Upstack Costs](/sources/upstack-costs) |
| **Aggregation** | Average                                                              |

***

## Example

New customers generated **\$7,000** CM4 from **500** orders.

| Component            | Value    | Calculation       |
| -------------------- | -------- | ----------------- |
| NC CM4               | \$7,000  | Operating profit  |
| NC Orders            | 500      | First-time orders |
| **NC CM4 per Order** | **\$14** | \$7,000 ÷ 500     |

***

## How It Works

NC CM4 per Order shows your true operating profit per new customer order after all costs. A \$14 NC CM4 per Order means each new customer acquisition generates \$14 in operating profit on their first order alone.

***

## When to Use

| Scenario                  | Action                                            |
| ------------------------- | ------------------------------------------------- |
| Validating unit economics | Ensure NC CM4 per Order is positive               |
| Comparing segments        | Benchmark against RC CM4 per Order                |
| Investment decisions      | Use NC CM4 per Order to model acquisition ROI     |
| Growth planning           | Project profit from customer acquisition at scale |

***

## Related Metrics

| Metric                                                                                             | Relationship                                 |
| -------------------------------------------------------------------------------------------------- | -------------------------------------------- |
| [NC CM4](/reference/metrics/orders/contribution-margin/new-customer-cm4)                           | Total new customer operating profit          |
| [RC CM4 per Order](/reference/metrics/orders/contribution-margin/returning-customer-cm4-per-order) | Operating profit per repeat order            |
| [LTV](/reference/metrics/orders/ltv/ltv)                                                           | Total lifetime value including repeat orders |

[See all Contribution Margin metrics →](/reference/metrics/orders/contribution-margin)