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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

603.78 10.63 −1.73%
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) P/S ratio

Alert me on P/S ratio

As of 5 November 2026, Spotify Technology (SPOT) trades at a P/S ratio of 5.8×. Over the past ten years it has ranged from 0.0× (December 2018) to 9.1× (June 2025); the current reading is higher than 81% of that period. That is above the Internet Content & Information industry median of 0.9× and above the Communication Services sector median of 0.9×.

P/S ratio, daily

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Annual newest first

Period P/S ratio Change
FY2025 6.1× 15.92%
FY2024 5.3× 106.38%
FY2023 2.6× 100.51%
FY2022 1.3× (67.32%)
FY2021 3.9× (40.31%)
FY2020 6.6× 83.56%
FY2019 3.6× 10.34%
FY2018 3.2× —
FY2017 0.0× —
FY2016 0.0× —

Quarterly newest first

Period P/S ratio Change
Sep 2026 4.6× 2.59%
Jun 2026 4.5× (8.84%)
Mar 2026 4.9× (20.04%)
Dec 2025 6.1× (20.22%)
31 more quarters

Against its own ten years

Low 0.0× High 9.1×
Ten-year median 4.0×
Current reading's percentile 79

P/S ratio against peers

Company P/S ratio
SNAP Snap Inc. compare 1.3×
BIDU Baidu, Inc. compare 1.5×
Z Zillow Group, Inc. compare 2.4×
PINS Pinterest, Inc. compare 2.4×
ZG Zillow Group, Inc. compare 2.4×
MTCH Match Group Inc. compare 2.6×
SPOT Spotify Technology 5.8×
RDDT Reddit Inc. compare 5.9×
META Meta Platforms, Inc. compare 6.4×
Internet Content & Information industry median 0.9×
Communication Services sector median 0.9×
Market median 1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

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