Spotify Technology (SPOT) EV to EBITDA (2019 - 2026)
Spotify Technology's (SPOT) EV to EBITDA stood at 35.50 in the quarter ended Jun 30, 2026, down 58.3% from 85.07 a year earlier and down 16.9% from the prior quarter.
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Analysis
Spotify Technology (SPOT) EV to EBITDA (2019 - 2026) Analysis & Trends
On a TTM basis, Spotify Technology's EV to EBITDA came in at 21.97 as of Jun 30, 2026, down 69.4% year-over-year; for the year ended Dec 31, 2025, it came in at 41.60, down 23.6% from the prior year.
- Across earlier years, EV to EBITDA came in at 54.43 in the year ended Dec 31, 2024 and 235.59 in the year ended Dec 31, 2021.
- The figure for the quarter ended Jun 30, 2026 is the lowest quarterly EV to EBITDA in data going back to the quarter ended Jun 30, 2019.
- On a year-over-year basis, EV to EBITDA rose in two of the last five quarters, with an average decline of 7.6%.
- Per Business Quant, the preceding three quarters came in at 42.72 (quarter ended Mar 31, 2026), 60.52 (quarter ended Dec 31, 2025) and 88.41 (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,139.30 Bn | 3,896.82 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,802.48 Bn | 1,505.00 Bn | 49.47 Bn |
| 3 | Netflix | 295.38 Bn | 255.58 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 253.00 Bn | 66.78 Bn | 15.11 Bn |
| 5 | Shopify | 219.40 Bn | 196.59 Bn | 1.71 Bn |
| 6 | Uber Technologies | 143.37 Bn | 115.17 Bn | 6.38 Bn |
| 7 | Booking Holdings | 125.53 Bn | 58.58 Bn | - |
| 8 | PDD Holdings | 113.03 Bn | -130.74 Bn | 9.45 Bn |
| 9 | Spotify Technology | 108.69 Bn | 66.19 Bn | 1.86 Bn |
| 10 | Airbnb | 102.92 Bn | 56.15 Bn | 2.98 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 26.05 |
| Mar 31, 2026 | 30.85 |
| Dec 31, 2025 | 41.59 |
| Sep 30, 2025 | 57.16 |
| Jun 30, 2025 | 68.97 |
| Mar 31, 2025 | 54.55 |
| Dec 31, 2024 | 51.89 |
| Sep 30, 2024 | 65.94 |
| Jun 30, 2024 | 101.84 |
| Mar 31, 2024 | 1,928.83 |
| Jun 30, 2022 | 518.72 |
| Mar 31, 2022 | 102.88 |
| Dec 31, 2021 | 156.53 |
| Sep 30, 2021 | 211.93 |
| Jun 30, 2021 | 1,130.68 |
| Mar 31, 2020 | 373.63 |
| Dec 31, 2019 | 1,656.60 |
| Sep 30, 2019 | 99.49 |
| Jun 30, 2019 | 230.97 |
API Access
Spotify Technology EV to EBITDA 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=ev-to-ebitda&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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=ev-to-ebitda&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();