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.
Follow SPOT
Spotify Technology (SPOT) P/E ratio
As of 9 October 2026, Spotify Technology (SPOT) trades at a P/E ratio of 28.0×. Over the past ten years it has ranged from 0.0× (June 2024) to 378× (April 2022); the current reading is higher than 67% of that period. That is above the Internet Content & Information industry median of 10.8× and above the Communication Services sector median of 16.7×.
P/E ratio, daily
Embed this chart
Annual newest first
| Period | P/E ratio | Change |
|---|---|---|
| FY2025 | 46.8× | (36.14%) |
| FY2024 | 73.2× | — |
| FY2023 | 0.0× | — |
| FY2022 | 0.0× | — |
| FY2021 | 0.0× | — |
| FY2020 | 0.0× | — |
| FY2019 | 0.0× | — |
| FY2018 | 0.0× | — |
| FY2017 | 0.0× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | P/E ratio | Change |
|---|---|---|
| Jun 2026 | 24.3× | (23.13%) |
| Mar 2026 | 31.6× | (32.48%) |
| Dec 2025 | 46.8× | (48.35%) |
| Sep 2025 | 90.5× | (49.86%) |
| 30 more quarters | Free account |
Against its own ten years
P/E ratio against peers
| Company | P/E ratio |
|---|---|
| BIDU Baidu, Inc. compare | n/m |
| SNAP Snap Inc. compare | n/m |
| MTCH Match Group Inc. compare | 13.7× |
| META Meta Platforms, Inc. compare | 26.7× |
| SPOT Spotify Technology | 28.0× |
| RDDT Reddit Inc. compare | 35.0× |
| PINS Pinterest, Inc. compare | 61.1× |
| Z Zillow Group, Inc. compare | 132× |
| ZG Zillow Group, Inc. compare | 135× |
| Internet Content & Information industry median | 10.8× |
| Communication Services sector median | 16.7× |
| Market median | 17.9× |
What P/E ratio is
Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.
Stock Price ÷ EPS (Basic) (TTM)