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

616.01 11.65 −1.86%

Follow SPOT

Alert me

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

Spotify Technology (SPOT) Price to free cash flow

Alert me on Price to free cash flow

As of 5 November 2026, Spotify Technology (SPOT) trades at a price to free cash flow of 35.4×. Over the past ten years it has ranged from 0.0× (September 2018) to 1,143× (March 2023); the current reading is higher than 16% of that period. That is above the Internet Content & Information industry median of 10.8× and above the Communication Services sector median of 10.2×.

Embed this chart

Code for your page

<iframe src="https://stockrow.com/embed/SPOT/price-to-free-cash-flow" width="100%" height="360" style="border:0" loading="lazy" title="Spotify Technology price to free cash flow, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/SPOT/metrics/price-to-free-cash-flow">Spotify Technology (SPOT) price to free cash flow — stockrow.com</a></p>

Period	Price to free cash flow	Change
FY2025	36.7×	1.09%
FY2024	36.3×	(27.95%)
FY2023	50.4×	(92.94%)
FY2022	714×	420.89%
FY2021	137×	(51.97%)
FY2020	285×	417.48%
FY2019	55.2×	(29.04%)
FY2018	77.7×	—
FY2017	0.0×	—
FY2016	0.0×	—

Period	Price to free cash flow	Change
Sep 2026	28.0×	10.79%
Jun 2026	25.2×	(7.36%)
Mar 2026	27.3×	(25.77%)
Dec 2025	36.7×	(15.57%)
31 more quarters	Free account

Against its own ten years

Low 0.0× High 1,143×

Ten-year median 68.6×

Current reading's percentile 16

Company	Price to free cash flow
BIDU Baidu, Inc. compare	n/m
MTCH Match Group Inc. compare	7.9×
PINS Pinterest, Inc. compare	8.9×
SNAP Snap Inc. compare	11.4×
RDDT Reddit Inc. compare	15.2×
Z Zillow Group, Inc. compare	24.7×
ZG Zillow Group, Inc. compare	25.5×
SPOT Spotify Technology	35.4×
META Meta Platforms, Inc. compare	54.0×
Internet Content & Information industry median	10.8×
Communication Services sector median	10.2×
Market median	14.1×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

Spotify Technology (SPOT) Price to free cash flow

Price to free cash flow, daily

Annual newest first

Quarterly newest first

Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

More on SPOT

Price to free cash flow, daily

Annual newest first

Quarterly newest first

Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

More on SPOT

Stockrow Weekly