Spotify Technology (SPOT) EBITDA Margin (2017 - 2026)
Spotify Technology (SPOT) reported EBITDA Margin of 6.28% for the quarter ended Jun 30, 2026, up 4.37 percentage points from 1.91% a year earlier but down 10.07 percentage points from the prior quarter.
Spotify Technology (SPOT) EBITDA Margin (2017 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Spotify Technology's EBITDA Margin came in at 11.15%, up 1.58 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 13.04%, up 3.91 percentage points from the prior year.
- EBITDA Margin has increased for three consecutive years, with a five-year change of +16.21 percentage points (years ended Dec 2020 to Dec 2025).
- By year, EBITDA Margin came in at 9.13% in the year ended Dec 31, 2024 (+11.87 pp), -2.74% in the year ended Dec 31, 2023 (+2.09 pp), -4.83% in the year ended Dec 31, 2022 (-6.40 pp) and 1.57% in the year ended Dec 31, 2021 (+4.74 pp).
- Five-year quarterly EBITDA Margin spans a low of -18.04% in the quarter ended Jun 30, 2023 and a high of 16.35% in the quarter ended Mar 31, 2026.
- Year over year, EBITDA Margin has now increased in each of the last three quarters, with an average year-over-year change of +3.80 percentage points over the last eight quarters.
- The high point for year-over-year EBITDA Margin in five years was the quarter ended Jun 30, 2024 (a gain of 25.81 percentage points); the low point was the quarter ended Jun 30, 2023 (a drop of 12.66 percentage points).
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at 16.35% (quarter ended Mar 31, 2026), 16.02% (quarter ended Dec 31, 2025) and 5.88% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 39.96% |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 41.33% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 68.51% |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | - |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 13.82% |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 14.69% |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 35.76% |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | - |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 14.76% |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | - |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 14.76% |
| Mar 31, 2026 | 16.92% |
| Dec 31, 2025 | 6.09% |
| Sep 30, 2025 | 14.58% |
| Jun 30, 2025 | 20.96% |
| Mar 31, 2025 | 18.81% |
| Dec 31, 2024 | 14.43% |
| Sep 30, 2024 | 15.20% |
| Jun 30, 2024 | 9.67% |
| Mar 31, 2024 | 6.93% |
| Dec 31, 2023 | 1.66% |
| Sep 30, 2023 | 2.44% |
| Jun 30, 2023 | -5.54% |
| Mar 31, 2023 | -1.15% |
| Dec 31, 2022 | -3.00% |
| Sep 30, 2022 | -5.47% |
| Jun 30, 2022 | -4.89% |
| Mar 31, 2022 | 1.69% |
| Dec 31, 2021 | 1.75% |
| Sep 30, 2021 | 4.88% |
Spotify Technology EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "SPOT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();