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	Dec 22, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	119,557	90,406	36,669	15,248	44,829	59,655
Market Cap Growth	17.77%	146.55%	140.49%	-65.99%	-24.85%	122.76%
Enterprise Value	113,771	86,246	34,889	13,480	43,242	58,367
Last Close Price	582.16	447.38	187.91	78.95	234.03	314.66
PE Ratio	73.93	76.73	-	-	-	-
Forward PE	44.53	52.59	114.59	-	-	-
PS Ratio	6.01	5.57	2.50	1.22	4.08	6.19
PB Ratio	13.14	15.81	13.15	5.94	18.60	17.39
P/TBV Ratio	15.31	20.38	25.23	12.68	33.78	24.32
P/FCF Ratio	35.01	38.23	49.22	679.39	142.82	269.44
P/OCF Ratio	34.53	37.95	48.79	310.16	109.19	188.29
EV/Sales Ratio	5.74	5.32	2.38	1.08	3.93	6.06
EV/EBITDA Ratio	47.58	56.40	3945.55	-	172.05	-
EV/EBIT Ratio	48.07	59.17	-	-	404.49	-
EV/FCF Ratio	33.21	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	1.37%	1.30%	-1.60%	-3.01%	-0.09%	-1.19%
FCF Yield	2.86%	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