Spotify Technology S.A. (SPOT)

Spotify Technology Ratios and Metrics

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

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jan 9, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	111,155	90,406	36,669	15,248	44,829	59,655
Market Cap Growth	20.55%	146.55%	140.49%	-65.99%	-24.85%	122.76%
Enterprise Value	105,012	86,246	34,889	13,480	43,242	58,367
Last Close Price	539.37	447.38	187.91	78.95	234.03	314.66
PE Ratio	68.79	76.73	-	-	-	-
Forward PE	41.94	52.59	114.59	-	-	-
PS Ratio	5.57	5.57	2.50	1.22	4.08	6.19
PB Ratio	12.18	15.81	13.15	5.94	18.60	17.39
P/TBV Ratio	14.19	20.38	25.23	12.68	33.78	24.32
P/FCF Ratio	32.77	38.23	49.22	679.39	142.82	269.44
P/OCF Ratio	32.01	37.95	48.79	310.16	109.19	188.29
EV/Sales Ratio	5.30	5.32	2.38	1.08	3.93	6.06
EV/EBITDA Ratio	43.92	56.40	3945.55	-	172.05	-
EV/EBIT Ratio	44.37	59.17	-	-	404.49	-
EV/FCF Ratio	30.96	36.47	46.83	600.61	137.76	263.62
Debt / Equity Ratio	0.29	0.38	0.70	0.73	0.86	0.22
Debt / EBITDA Ratio	1.08	1.36	27.52	-	8.26	-
Debt / FCF Ratio	0.77	0.91	2.61	82.91	6.61	3.36
Asset Turnover	1.34	1.54	1.66	1.58	1.43	1.38
Quick Ratio	1.34	1.70	1.19	1.15	1.26	0.67
Current Ratio	1.61	1.88	1.29	1.24	1.36	0.82
Return on Equity (ROE)	22.64%	28.28%	-21.61%	-19.03%	-1.38%	-24.00%
Return on Assets (ROA)	9.99%	8.65%	-0.64%	-5.56%	0.87%	-3.20%
Return on Capital (ROIC)	15.27%	14.81%	-1.22%	-10.19%	1.60%	-6.03%
Return on Capital Employed (ROCE)	23.90%	18.60%	-1.90%	-16.00%	2.40%	-8.60%
Earnings Yield	1.48%	1.30%	-1.60%	-3.01%	-0.09%	-1.19%
FCF Yield	3.05%	2.62%	2.03%	0.15%	0.70%	0.37%
Buyback Yield / Dilution	-3.39%	-6.30%	0.57%	-0.98%	-3.39%	-3.66%

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q