Spotify Technology Ratios and Metrics

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 29, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	96,660	119,529	91,196	37,044	15,260	44,968
Market Cap Growth	-33.53%	31.07%	146.18%	142.75%	-66.06%	-24.87%
Enterprise Value	87,882	110,640	85,528	34,261	13,472	43,014
Last Close Price	470.09	580.71	447.38	187.91	78.95	234.03
PE Ratio	30.96	47.09	78.17	-	-	-
Forward PE	31.29	44.52	52.59	114.59	-	-
PS Ratio	4.68	5.93	5.59	2.53	1.21	4.09
PB Ratio	10.24	12.23	15.86	13.28	5.93	18.66
P/TBV Ratio	14.39	16.97	21.66	28.10	13.98	39.95
P/FCF Ratio	26.17	35.47	38.37	49.72	677.45	143.28
P/OCF Ratio	25.40	34.73	38.09	49.28	309.27	109.54
EV/Sales Ratio	4.35	5.49	5.24	2.34	1.07	3.91
EV/EBITDA Ratio	31.16	41.00	55.31	-	-	171.16
EV/EBIT Ratio	31.71	42.90	60.22	-	-	402.40
EV/FCF Ratio	24.31	32.83	35.99	45.98	598.07	137.05
Debt / Equity Ratio	0.05	0.05	0.36	0.67	0.70	0.84
Debt / EBITDA Ratio	0.17	0.82	1.35	-	-	8.06
Debt / FCF Ratio	0.18	0.66	0.88	2.52	80.14	6.45
Net Debt / Equity Ratio	-1.04	-0.91	-0.99	-1.00	-0.69	-0.81
Net Debt / EBITDA Ratio	-3.33	-3.29	-3.67	8.74	3.42	-7.78
Net Debt / FCF Ratio	-3.57	-2.64	-2.38	-3.74	-79.38	-6.23
Asset Turnover	1.25	1.27	1.54	1.66	1.58	1.43
Quick Ratio	2.03	1.71	1.85	1.24	1.15	1.28
Current Ratio	2.06	1.72	1.88	1.29	1.24	1.36
Return on Equity (ROE)	33.15%	31.93%	28.28%	-21.61%	-19.03%	-1.38%
Return on Assets (ROA)	16.33%	16.18%	11.38%	-5.88%	-10.35%	-0.19%
Return on Invested Capital (ROIC)	40.83%	39.01%	28.44%	-12.33%	-21.12%	-0.33%
Return on Capital Employed (ROCE)	27.68%	26.67%	23.11%	-10.65%	-16.34%	2.55%
Earnings Yield	3.30%	2.12%	1.28%	-	-	-
FCF Yield	3.82%	2.82%	2.61%	2.01%	0.15%	0.70%
Buyback Yield / Dilution	-0.80%	-1.70%	-6.29%	0.57%	-0.98%	-3.39%
Total Shareholder Return	-0.80%	-1.70%	-6.29%	0.57%	-0.98%	-3.39%

SEC Filings: 10-K · 10-Q