Spotify Technology (SPOT) EV to FCF (2018 - 2026)
Spotify Technology's (SPOT) quarterly EV to FCF came in at 86.02 in Q2 2026, down 52.36% year-over-year from 180.58 in Q2 2025, and down 5.44% quarter-over-quarter from 90.97 in Q1 2026.
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Analysis
Spotify Technology (SPOT) EV to FCF (2018 - 2026) Analysis & Trends
Spotify Technology has disclosed EV to FCF across 9 years of filings, most recently posting 86.02 for Q2 2026.
- In Q2 2026, EV to FCF fell 52.36% year-over-year to 86.02; the TTM figure through Jun 2026 stood at 21.03 (down 55.25% YoY), while the FY2025 annual figure was 31.13, down 7.35% from the prior year.
- EV to FCF came in at 86.02 for Q2 2026 at Spotify Technology, down from 90.97 in the prior quarter.
- In the past five years, EV to FCF ranged from a high of 1672.2 in Q2 2023 to a low of 178.58 in Q4 2022.
- Average EV to FCF over 5 years is 240.84, with a median of 122.11 recorded in 2025.
- Year-over-year, EV to FCF sank 167.32% in 2022 and soared 452.02% in 2023.
- Over 5 years, EV to FCF stood at 178.58 in 2022, then soared by 142.51% to 75.92 in 2023, then advanced by 15.41% to 87.62 in 2024, then rose by 21.17% to 106.17 in 2025, then slipped by 18.98% to 86.02 in 2026.
- Per Business Quant data, the three most recent EV to FCF figures were 86.02 in Q2 2026, 90.97 in Q1 2026, and 106.17 in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 254.92 Bn | 72.79 Bn | 15.11 Bn |
| 5 | Shopify | 184.25 Bn | 161.43 Bn | 1.71 Bn |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - |
| 8 | PDD Holdings | 110.41 Bn | -141.52 Bn | 9.45 Bn |
| 9 | Spotify Technology | 104.89 Bn | 62.12 Bn | 1.86 Bn |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.03 |
| Mar 31, 2026 | 23.47 |
| Dec 31, 2025 | 31.87 |
| Sep 30, 2025 | 39.51 |
| Jun 30, 2025 | 47.00 |
| Mar 31, 2025 | 36.49 |
| Dec 31, 2024 | 33.21 |
| Sep 30, 2024 | 33.25 |
| Jun 30, 2024 | 39.31 |
| Mar 31, 2024 | 51.60 |
| Dec 31, 2023 | 43.89 |
| Sep 30, 2023 | 104.95 |
| Jun 30, 2023 | 448.76 |
| Mar 31, 2023 | 241.99 |
| Dec 31, 2022 | 150.37 |
| Sep 30, 2022 | 43.03 |
| Jun 30, 2022 | 33.18 |
| Mar 31, 2022 | 53.20 |
| Dec 31, 2021 | 77.96 |
| Sep 30, 2021 | 72.26 |
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();