> ## 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.

# Returning Customer CM4 ROAS: Repeat Order Operating Profit ROAS

> Track returning customer CM4 ROAS for your Shopify store. Measure operating profit generated per dollar of ad spend on repeat orders.

<Tip>
  Returning Customer CM4 ROAS measures how much operating profit (after all costs including OPEX) you generate from repeat orders per dollar of ad spend.
</Tip>

## Formula

<Info>
  **Returning Customer CM4 ROAS** = **Returning Customer CM4** ÷ **Ad Spend**
</Info>

### Formula Components

| Metric                                                                                             | Definition                                |
| -------------------------------------------------------------------------------------------------- | ----------------------------------------- |
| [**Returning Customer CM4**](/reference/metrics/orders/contribution-margin/returning-customer-cm4) | Operating profit from repeat buyer orders |
| [**Ad Spend**](/reference/metrics/advertising/blended/blended-spend)                               | Total advertising spend                   |

| Metadata        |                                                                                             |
| --------------- | ------------------------------------------------------------------------------------------- |
| **Type**        | Ratio                                                                                       |
| **Data Source** | [Shopify](/sources/catalog/shopify), [Advertising Platforms](/sources/catalog/facebook-ads) |
| **Aggregation** | Ratio                                                                                       |

***

## Example

Your Shopify store generates **\$28,000** CM4 from returning customers and spends **\$15,000** on ads.

| Component                       | Value    | Calculation                   |
| ------------------------------- | -------- | ----------------------------- |
| Returning Customer CM4          | \$28,000 | Repeat order operating profit |
| Ad Spend                        | \$15,000 | Marketing cost                |
| **Returning Customer CM4 ROAS** | **1.87** | \$28,000 ÷ \$15,000           |

***

## How It Works

Returning Customer CM4 ROAS shows fully-loaded profitability for repeat orders. This should be substantially higher than new customer CM4 ROAS since repeat orders don't carry acquisition costs.

***

## Benchmarks

| Rating     | Range     |
| ---------- | --------- |
| Excellent  | > 2.0     |
| Good       | 1.2 – 2.0 |
| Moderate   | 0.6 – 1.2 |
| Concerning | \< 0.6    |

Strong returning customer CM4 ROAS is essential for overall profitability.

***

## Related Metrics

| Metric                                                                                         | Relationship                 |
| ---------------------------------------------------------------------------------------------- | ---------------------------- |
| [Returning Customer CM4](/reference/metrics/orders/contribution-margin/returning-customer-cm4) | Numerator (operating profit) |
| [CM4 ROAS](/reference/metrics/orders/performance/cm4-roas)                                     | Overall CM4 ROAS             |
| [New Customer CM4 ROAS](/reference/metrics/orders/performance/new-customer-cm4-roas)           | First-order CM4 ROAS         |

[See all Performance metrics →](/reference/metrics/orders/performance)