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	Nov 7, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	127,135	90,406	36,669	15,248	44,829	59,655
Market Cap Growth	66.68%	146.55%	140.49%	-65.99%	-24.85%	122.76%
Enterprise Value	120,992	86,246	34,889	13,480	43,242	58,367
Last Close Price	616.91	447.38	187.91	78.95	234.03	314.66
PE Ratio	78.68	76.73	-	-	-	-
Forward PE	47.21	52.59	114.59	-	-	-
PS Ratio	6.37	5.57	2.50	1.22	4.08	6.19
PB Ratio	13.93	15.81	13.15	5.94	18.60	17.39
P/TBV Ratio	16.23	20.38	25.23	12.68	33.78	24.32
P/FCF Ratio	37.70	38.23	49.22	679.39	142.82	269.44
P/OCF Ratio	36.61	37.95	48.79	310.16	109.19	188.29
EV/Sales Ratio	6.10	5.32	2.38	1.08	3.93	6.06
EV/EBITDA Ratio	50.60	56.40	3945.55	-	172.05	-
EV/EBIT Ratio	51.13	59.17	-	-	404.49	-
EV/FCF Ratio	35.88	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%	-	-	2.40%	-
Earnings Yield	1.30%	1.30%	-1.60%	-3.01%	-0.09%	-1.19%
FCF Yield	2.65%	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