Spotify Technology (SPOT) EBT Margin (2017 - 2026)
Spotify Technology (SPOT) posted EBT Margin of 20.67% for Q1 2026, down 8.27% sequentially from 22.53% in Q4 2025, and up 1284.0% YoY from 1.49% in Q1 2025.
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Spotify Technology (SPOT) EBT Margin (2017 - 2026) Analysis & Trends
Spotify Technology has reported EBT Margin for 10 years, with the latest figure at 20.67% in Q1 2026.
- Quarterly EBT Margin rose 1284.0% year-over-year to 20.67% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 16.27% (up 705.0% YoY) and the FY2025 annual result came in at 12.94%, up 438.0% from the prior year.
- EBT Margin slipped to 20.67% in Q1 2026 per SPOT's latest filing, from 22.53% in the prior quarter.
- Over five years, EBT Margin peaked at 22.53% in Q4 2025 and troughed at 9.19% in Q4 2022.
- A 5-year average of 4.6% and a median of 4.79% in 2024 frame the typical range for EBT Margin.
- The sharpest annual moves came in 2023 and 2024: EBT Margin plunged 1260 bps in 2023, then surged 1533 bps in 2024.
- Over 5 years, EBT Margin stood at 9.19% in 2022, then surged by 61 bps to 3.57% in 2023, then surged by 430 bps to 11.76% in 2024, then jumped by 92 bps to 22.53% in 2025, then slipped by 8 bps to 20.67% in 2026.
- According to Business Quant data, EBT Margin over the past three periods registered 20.67%, 22.53%, and 19.36% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,083.83 Bn | 3,654.79 Bn | 73.85 Bn | 115.82% |
| 2 | Meta Platforms | 1,456.07 Bn | 1,365.81 Bn | 49.47 Bn | 30.85% |
| 3 | Spotify Technology | 111.71 Bn | 104.79 Bn | 1.86 Bn | 15.07% |
| 4 | Nebius | 50.03 Bn | 40.93 Bn | 448.70 Mn | -0.12% |
| 5 | 28.44 Bn | 25.65 Bn | 734.60 Mn | 31.91% | |
| 6 | Bilibili | 13.59 Bn | 11.45 Bn | 433.97 Mn | 4.68% |
| 7 | Tencent Music Entertainment | 12.71 Bn | 9.21 Bn | 582.00 Mn | - |
| 8 | 12.21 Bn | 10.93 Bn | 922.30 Mn | -4.17% | |
| 9 | Match | 9.45 Bn | 8.86 Bn | 648.84 Mn | 25.16% |
| 10 | Snap | 9.26 Bn | 6.60 Bn | 931.11 Mn | -10.10% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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% |
| Sep 30, 2021 | 6.48% |