Spotify Technology S.A. (VIE:SPOT)

Spotify Technology Ratios and Metrics

Market cap in millions EUR. Fiscal year is January - December.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 5, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Cap	100,304	119,529	91,196	37,045	15,261	44,969
Market Cap Growth	-20.33%	31.07%	146.18%	142.75%	-66.06%	-24.87%
Enterprise Value	94,473	111,953	85,749	34,527	13,594	43,250
PE Ratio	45.35	47.09	78.17	-62.26	-32.86	-1143.33
Forward PE	36.98	44.52	52.59	114.59	-	-
PS Ratio	5.84	6.96	5.82	2.80	1.30	4.65
PB Ratio	12.04	14.35	16.51	14.68	6.36	21.22
P/TBV Ratio	12.09	14.68	16.76	14.50	6.38	21.26
P/FCF Ratio	34.92	41.62	39.93	54.96	726.69	162.93
P/OCF Ratio	34.20	40.75	39.63	54.48	331.75	124.57
EV/Sales Ratio	5.43	6.51	5.47	2.61	1.16	4.47
EV/EBITDA Ratio	40.65	48.68	57.70	-119.89	-27.86	195.70
EV/EBIT Ratio	42.46	50.93	62.82	-77.42	-20.63	460.11
EV/FCF Ratio	32.89	38.98	37.54	51.23	647.31	156.70
Debt / Equity Ratio	0.23	0.23	0.36	0.67	0.70	0.84
Debt / EBITDA Ratio	0.82	0.82	1.35	-5.89	-3.45	8.06
Debt / FCF Ratio	0.66	0.66	0.88	2.52	80.14	6.45
Net Debt / Equity Ratio	-0.91	-0.91	-0.99	-1.00	-0.69	-0.81
Net Debt / EBITDA Ratio	-3.29	-3.29	-3.67	8.74	3.42	-7.78
Net Debt / FCF Ratio	-2.64	-2.64	-2.38	-3.74	-79.38	-6.23
Asset Turnover	1.27	1.27	1.54	1.66	1.58	1.43
Quick Ratio	1.71	1.71	1.85	1.24	1.15	1.28
Current Ratio	1.72	1.72	1.88	1.29	1.24	1.36
Return on Equity (ROE)	28.51%	31.93%	28.28%	-21.61%	-19.03%	-1.38%
Return on Assets (ROA)	14.45%	16.18%	11.38%	-5.88%	-10.35%	-0.19%
Return on Invested Capital (ROIC)	148.27%	166.06%	146.44%	-45.57%	-64.25%	-0.80%
Return on Capital Employed (ROCE)	26.67%	26.67%	23.11%	-10.65%	-16.34%	2.55%
Earnings Yield	2.21%	2.12%	1.28%	-1.61%	-3.04%	-0.09%
FCF Yield	2.86%	2.40%	2.50%	1.82%	0.14%	0.61%
Buyback Yield / Dilution	0.30%	0.26%	-0.88%	-0.80%	-0.01%	-0.12%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.