Spotify Technology (SPOT) EV to FCF (2018 - 2026)
Spotify Technology's (SPOT) EV to FCF came in at 21.03 for the quarter ended Jun 30, 2026, down 55.3% from 47.00 a year earlier and down 10.4% from the prior quarter.
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Analysis
Spotify Technology (SPOT) EV to FCF (2018 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, EV to FCF at Spotify Technology was 13.02, down 67.2% year-over-year; for the year ended Dec 31, 2025, it was 31.13, down 7.3% from the prior year.
- Annual EV to FCF has declined for three consecutive years.
- In prior years, Spotify Technology's EV to FCF was 33.60 in the year ended Dec 31, 2024 (-23.7%), 44.05 in the year ended Dec 31, 2023 (-73.1%), 163.49 in the year ended Dec 31, 2022 (+103.6%) and 80.29 in the year ended Dec 31, 2021 (-46.6%).
- The figure for the quarter ended Jun 30, 2026 stands as the lowest quarterly EV to FCF in data going back to the quarter ended Jun 30, 2018.
- On a year-over-year basis, EV to FCF has declined in each of the last three quarters, with an average decline of 22.3% over the last eight quarters.
- The strongest year-over-year quarter for EV to FCF in the past five years was the quarter ended Mar 31, 2023, with growth of 354.9%; the weakest was the quarter ended Jun 30, 2024, with a decline of 91.2%.
- According to Business Quant data, EV to FCF for the three prior quarters was 23.47 (quarter ended Mar 31, 2026), 31.87 (quarter ended Dec 31, 2025) and 39.51 (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 | 21.86 |
| Mar 31, 2026 | 24.44 |
| Dec 31, 2025 | 33.22 |
| Sep 30, 2025 | 39.93 |
| Jun 30, 2025 | 47.45 |
| Mar 31, 2025 | 37.99 |
| Dec 31, 2024 | 33.78 |
| Sep 30, 2024 | 34.19 |
| Jun 30, 2024 | 40.72 |
| Mar 31, 2024 | 53.85 |
| Dec 31, 2023 | 44.49 |
| Sep 30, 2023 | 132.99 |
| Jun 30, 2023 | 2,773.22 |
| Mar 31, 2023 | 545.58 |
| Dec 31, 2022 | 421.32 |
| Sep 30, 2022 | 43.33 |
| Jun 30, 2022 | 33.36 |
| Mar 31, 2022 | 53.25 |
| Dec 31, 2021 | 78.04 |
| Sep 30, 2021 | 72.38 |
API Access
Spotify Technology EV to FCF 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-fcf&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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-fcf&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();