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. In the quarter to June 2026, revenue grew 16.7%, EPS grew 741.7% and free cash flow grew 9.80%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
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Spotify Technology (SPOT) EV/Sales
As of 9 October 2026, Spotify Technology (SPOT) trades at a EV/Sales of 4.7×. Over the past ten years it has ranged from 0.0× (December 2018) to 8.7× (June 2025); the current reading is higher than 72% of that period. That is above the Internet Content & Information industry median of 1.2× and above the Communication Services sector median of 1.4×.
EV/Sales, daily
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Annual newest first
| Period | EV/Sales | Change |
|---|---|---|
| FY2025 | 5.7× | 15.43% |
| FY2024 | 4.9× | 109.62% |
| FY2023 | 2.3× | 105.32% |
| FY2022 | 1.1× | (69.46%) |
| FY2021 | 3.7× | (41.86%) |
| FY2020 | 6.4× | 88.47% |
| FY2019 | 3.4× | 9.92% |
| FY2018 | 3.1× | — |
| FY2017 | 0.0× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | EV/Sales | Change |
|---|---|---|
| Jun 2026 | 4.0× | (10.06%) |
| Mar 2026 | 4.5× | (20.95%) |
| Dec 2025 | 5.7× | (21.42%) |
| Sep 2025 | 7.2× | (12.95%) |
| 30 more quarters | Free account |
Against its own ten years
EV/Sales against peers
| Company | EV/Sales |
|---|---|
| BIDU Baidu, Inc. compare | 0.9× |
| SNAP Snap Inc. compare | 1.8× |
| Z Zillow Group, Inc. compare | 2.4× |
| ZG Zillow Group, Inc. compare | 2.5× |
| PINS Pinterest, Inc. compare | 2.6× |
| MTCH Match Group Inc. compare | 3.7× |
| SPOT Spotify Technology | 4.7× |
| META Meta Platforms, Inc. compare | 8.0× |
| RDDT Reddit Inc. compare | 10.1× |
| Internet Content & Information industry median | 1.2× |
| Communication Services sector median | 1.4× |
| Market median | 2.2× |
What EV/Sales is
EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.
((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)) ÷ Revenue (TTM)