Spotify Technology (SPOT) EBT Margin (2017 - 2026)
Spotify Technology (SPOT) posted EBT Margin of 14.19% for Q3 2026, down 5.17 percentage points from 19.36% a year earlier and down 0.88 percentage points from the prior quarter.
Powered by 
Analysis
Spotify Technology (SPOT) EBT Margin (2017 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, EBT Margin at Spotify Technology was 18.00%, up 7.83 percentage points year-over-year; for FY2025, it was 12.94%, up 4.38 percentage points from FY2024.
- Annual EBT Margin shows a five-year change of +21.94 percentage points (FY2020 to FY2025).
- In prior years, Spotify Technology's EBT Margin was 8.56% in FY2024 (+12.37 pp), -3.81% in FY2023 (-0.66 pp), -3.16% in FY2022 (-5.73 pp) and 2.58% in FY2021 (+11.57 pp).
- The Q3 2026 figure stands as the lowest quarterly EBT Margin since Q2 2025.
- On a year-over-year basis, EBT Margin increased in six of the last eight quarters, with an average year-over-year change of +6.77 percentage points.
- The strongest year-over-year quarter for EBT Margin in the past five years was Q4 2024, with a gain of 15.33 percentage points; the weakest was Q1 2023, with a drop of 12.60 percentage points.
- According to Business Quant data, EBT Margin for the three prior quarters was 15.07% (Q2 2026), 20.67% (Q1 2026) and 22.53% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,394.62 Bn | 3,078.49 Bn | - | - |
| 2 | Meta Platforms | 1,562.01 Bn | 1,562.01 Bn | - | - |
| 3 | Netflix | 255.92 Bn | 217.22 Bn | 6.80 Bn | 33.53% |
| 4 | Alibaba Group Holding | 227.02 Bn | 40.65 Bn | 15.16 Bn | 8.29% |
| 5 | Shopify | 203.21 Bn | 180.40 Bn | 1.71 Bn | 49.54% |
| 6 | Uber Technologies | 132.34 Bn | 104.14 Bn | 6.38 Bn | 23.09% |
| 7 | Spotify Technology | 121.64 Bn | 78.55 Bn | 1.89 Bn | 14.19% |
| 8 | Booking Holdings | 113.63 Bn | 46.68 Bn | - | 34.82% |
| 9 | PDD Holdings | 109.85 Bn | -134.20 Bn | 9.48 Bn | 36.73% |
| 10 | Airbnb | 97.28 Bn | 50.51 Bn | 2.98 Bn | 24.86% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 14.19% |
| Jun 30, 2026 | 15.07% |
| Mar 31, 2026 | 20.67% |
| Dec 31, 2025 | 22.53% |
| Sep 30, 2025 | 19.36% |
| Jun 30, 2025 | 1.14% |
| Mar 31, 2025 | 7.83% |
| Dec 31, 2024 | 11.76% |
| Sep 30, 2024 | 9.98% |
| Jun 30, 2024 | 7.09% |
| Mar 31, 2024 | 4.79% |
| Dec 31, 2023 | -3.57% |
| Sep 30, 2023 | 2.17% |
| Jun 30, 2023 | -7.59% |
| Mar 31, 2023 | -6.77% |
| Dec 31, 2022 | -9.19% |
| Sep 30, 2022 | -4.74% |
| Jun 30, 2022 | -3.14% |
| Mar 31, 2022 | 5.82% |
| Dec 31, 2021 | -0.30% |
API Access
Spotify Technology EBT 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=ebt-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt-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=ebt-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();