Spotify Technology (SPOT) EBITDA Margin (2017 - 2026)
Spotify Technology's (SPOT) quarterly EBITDA Margin came in at 15.77% in Q1 2026, up 363.0% year-on-year from 3.41% in Q1 2025, and up 1.95% quarter-over-quarter from 15.47% in Q4 2025.
Spotify Technology (SPOT) EBITDA Margin (2017 - 2026) Analysis & Trends
Spotify Technology has disclosed EBITDA Margin across 10 years of filings, most recently posting 15.77% for Q1 2026.
- EBITDA Margin for Q1 2026 came in at 15.77%, up 363.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 13.74% (up 324.0% YoY), and the FY2025 annual result was 12.79%, up 408.0% from the prior year.
- EBITDA Margin came in at 15.77% for Q1 2026 at Spotify Technology, up from 15.47% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 15.77% in Q1 2026 to a low of 7.77% in Q2 2023.
- The 5-year median for EBITDA Margin is 4.62% (2024), against an average of 3.83%.
- Across the five-year window, EBITDA Margin slumped 1051 bps in 2022 and jumped 1476 bps in 2024, its largest moves.
- Spotify Technology's EBITDA Margin stood at 7.3% in 2022, then surged by 72 bps to 2.04% in 2023, then surged by 650 bps to 11.24% in 2024, then jumped by 38 bps to 15.47% in 2025, then rose by 2 bps to 15.77% in 2026.
- The last three EBITDA Margin figures came in at 15.77% (Q1 2026), 15.47% (Q4 2025), and 13.62% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nebius | 1,913,603.98 Bn | 1,913,603.98 Bn | 295.20 Mn | -32.08% |
| 2 | Alphabet | 4,425.33 Bn | 4,209.71 Bn | 102.29 Bn | 36.12% |
| 3 | Meta Platforms | 1,502.66 Bn | 1,421.48 Bn | 46.09 Bn | 40.62% |
| 4 | Spotify Technology | 119.69 Bn | 109.44 Bn | 1.75 Bn | 15.77% |
| 5 | 33.22 Bn | 30.45 Bn | 511.94 Mn | 27.57% | |
| 6 | 13.64 Bn | 12.34 Bn | 768.96 Mn | -7.97% | |
| 7 | Kanzhun | 13.02 Bn | 10.92 Bn | 255.62 Bn | 30.02% |
| 8 | Snap | 9.72 Bn | 6.90 Bn | 1.29 Bn | -4.87% |
| 9 | Zillow | 8.26 Bn | 7.48 Bn | 519.00 Mn | 5.08% |
| 10 | Match | 8.04 Bn | 7.01 Bn | 653.28 Mn | 29.00% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 15.77% |
| Dec 31, 2025 | 15.47% |
| Sep 30, 2025 | 13.62% |
| Jun 30, 2025 | 9.68% |
| Mar 31, 2025 | 12.15% |
| Dec 31, 2024 | 11.24% |
| Sep 30, 2024 | 11.38% |
| Jun 30, 2024 | 6.99% |
| Mar 31, 2024 | 4.62% |
| Dec 31, 2023 | -2.04% |
| Sep 30, 2023 | 0.95% |
| 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% |
| Jun 30, 2021 | 0.51% |