stockrowSpotify 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
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Spotify Technology (SPOT) Operating margin
Spotify Technology's operating margin over the twelve months to 30 September 2026 was 14.6%, up 1.8 percentage points from fiscal 2025 (12.8%). Over the past ten years it has ranged from −23.6% (fiscal 2016) to 12.8% (fiscal 2025) — the current reading is the highest in ten years. That is above the Internet Content & Information industry median of −1.87% and above the Communication Services sector median of 0.94%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 12.8% | 4.08 |
| FY2024 | 8.71% | 12.08 |
| FY2023 | −3.37% | 2.25 |
| FY2022 | −5.62% | (6.59) |
| FY2021 | 0.97% | 4.69 |
| FY2020 | −3.72% | (2.64) |
| FY2019 | −1.08% | (0.26) |
| FY2018 | −0.82% | 8.42 |
| FY2017 | −9.24% | 14.40 |
| FY2016 | −23.6% | — |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 13.5% | (0.19) |
| Jun 2026 | 13.7% | (2.06) |
| Mar 2026 | 15.8% | 0.43 |
| Dec 2025 | 15.3% | 1.72 |
| 31 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| META Meta Platforms, Inc. compare | 32.9% |
| MTCH Match Group Inc. compare | 29.7% |
| RDDT Reddit Inc. compare | 29.4% |
| SPOT Spotify Technology | 14.6% |
| PINS Pinterest, Inc. compare | 4.19% |
| SNAP Snap Inc. compare | −1.81% |
| ZG Zillow Group, Inc. compare | −5.11% |
| Z Zillow Group, Inc. compare | −5.11% |
| BIDU Baidu, Inc. compare | −5.36% |
| Internet Content & Information industry median | −1.87% |
| Communication Services sector median | 0.94% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
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- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement