Pricing Log in Create free account
Friday 6 November 2026 Export SPOT’s income statement to Excel — free account

Spotify Technology

SPOT Communication Services Internet Content & Information

Spotify Technology’s revenue for fiscal 2025 (year ended December 2025) was $19.4 billion, up 14.6% from fiscal 2024.

Revenue
+14.5%
EPS
−43.1%
Free cash flow
−16.1%

Quarter to September 2026, against a year earlier

603.40 11.01 −1.79%
Market cap
$126.5B
P/E
36.8×
Fwd P/E
45.1×
Dividend yield
—
F-score
6/9
Altman Z
11.36
Beneish M
−2.56
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Spotify Technology (SPOT) EV/FCF

Alert me on EV/FCF

As of 5 November 2026, Spotify Technology (SPOT) trades at a EV/FCF of 32.6×. Over the past ten years it has ranged from 0.0× (September 2018) to 1,064× (March 2023); the current reading is higher than 16% of that period.

EV/FCF, daily

Embed this chart

Annual newest first

Period EV/FCF Change
FY2025 33.9× 0.66%
FY2024 33.6× (26.81%)
FY2023 46.0× (92.77%)
FY2022 636× 386.79%
FY2021 131× (53.22%)
FY2020 279× 431.32%
FY2019 52.6× (29.31%)
FY2018 74.4× —
FY2017 0.0× —
FY2016 0.0× —

Quarterly newest first

Period EV/FCF Change
Sep 2026 25.2× 10.93%
Jun 2026 22.7× (8.59%)
Mar 2026 24.8× (26.61%)
Dec 2025 33.9× (16.84%)
31 more quarters

Against its own ten years

Low 0.0× High 1,064×
Ten-year median 63.9×
Current reading's percentile 10

EV/FCF against peers

Company EV/FCF
BIDU Baidu, Inc. compare −6.3×
PINS Pinterest, Inc. compare 8.5×
MTCH Match Group Inc. compare 10.7×
SNAP Snap Inc. compare 12.3×
RDDT Reddit Inc. compare 12.6×
Z Zillow Group, Inc. compare 25.4×
ZG Zillow Group, Inc. compare 26.1×
SPOT Spotify Technology 32.6×
META Meta Platforms, Inc. compare 53.9×

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

More on SPOT