Spotify Technology (SPOT) EBIT Margin (2017 - 2026)
Spotify Technology (SPOT) posted EBIT Margin of 23.32% for Q1 2026, down 3.95% sequentially from 24.28% in Q4 2025, and up 368.0% YoY from 4.98% in Q1 2025.
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Spotify Technology (SPOT) EBIT Margin (2017 - 2026) Analysis & Trends
Spotify Technology has reported EBIT Margin for 10 years, with the latest figure at 23.32% in Q1 2026.
- Quarterly EBIT Margin rose 368.0% year-over-year to 23.32% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 22.04% (up 301.0% YoY) and the FY2025 annual result came in at 12.79%, up 408.0% from the prior year.
- EBIT Margin retreated to 23.32% in Q1 2026 per SPOT's latest filing, from 24.28% in the prior quarter.
- Over five years, EBIT Margin peaked at 24.28% in Q4 2025 and troughed at 7.77% in Q2 2023.
- A 5-year average of 9.63% and a median of 13.53% in 2024 frame the typical range for EBIT Margin.
- The sharpest annual moves came in 2022 and 2024: EBIT Margin slumped 1051 bps in 2022, then jumped 2377 bps in 2024.
- Over 5 years, EBIT Margin stood at 7.3% in 2022, then soared by 233 bps to 9.72% in 2023, then surged by 111 bps to 20.51% in 2024, then advanced by 18 bps to 24.28% in 2025, then dropped by 4 bps to 23.32% in 2026.
- According to Business Quant data, EBIT Margin over the past three periods registered 23.32%, 24.28%, and 21.79% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBIT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,083.83 Bn | 3,654.79 Bn | 73.85 Bn | 34.03% |
| 2 | Meta Platforms | 1,456.07 Bn | 1,365.81 Bn | 49.47 Bn | 30.88% |
| 3 | Spotify Technology | 111.71 Bn | 104.79 Bn | 1.86 Bn | 21.88% |
| 4 | Nebius | 50.03 Bn | 40.93 Bn | 448.70 Mn | -30.21% |
| 5 | 28.44 Bn | 25.65 Bn | 734.60 Mn | 28.79% | |
| 6 | Bilibili | 13.59 Bn | 11.45 Bn | 433.97 Mn | 4.70% |
| 7 | Tencent Music Entertainment | 12.71 Bn | 9.21 Bn | 582.00 Mn | - |
| 8 | 12.21 Bn | 10.93 Bn | 922.30 Mn | -4.68% | |
| 9 | Match | 9.45 Bn | 8.86 Bn | 648.84 Mn | 28.77% |
| 10 | Snap | 9.26 Bn | 6.60 Bn | 931.11 Mn | -10.68% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.88% |
| Mar 31, 2026 | 23.32% |
| Dec 31, 2025 | 24.28% |
| Sep 30, 2025 | 21.79% |
| Jun 30, 2025 | 18.36% |
| Mar 31, 2025 | 19.64% |
| Dec 31, 2024 | 20.51% |
| Sep 30, 2024 | 19.71% |
| Jun 30, 2024 | 16.00% |
| Mar 31, 2024 | 13.53% |
| Dec 31, 2023 | 9.72% |
| Sep 30, 2023 | 11.53% |
| Jun 30, 2023 | -7.77% |
| Mar 31, 2023 | -5.13% |
| Dec 31, 2022 | -7.30% |
| Sep 30, 2022 | -7.51% |
| Jun 30, 2022 | -6.77% |
| Mar 31, 2022 | -0.23% |
| Dec 31, 2021 | -0.26% |
| Sep 30, 2021 | 3.00% |