Spotify Technology (SPOT) FCF Margin (2017 - 2026)
Spotify Technology (SPOT) posted FCF Margin of 18.55% for Q1 2026, up 11.19% sequentially from 16.69% in Q4 2025, and up 555.0% YoY from 2.83% in Q1 2025.
Spotify Technology (SPOT) FCF Margin (2017 - 2026) Analysis & Trends
Spotify Technology has reported FCF Margin for 10 years, with the latest figure at 18.55% in Q1 2026.
- Quarterly FCF Margin rose 555.0% year-over-year to 18.55% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 18.08% (up 196.0% YoY) and the FY2025 annual result came in at 16.71%, up 214.0% from the prior year.
- FCF Margin rose to 18.55% in Q1 2026 per SPOT's latest filing, from 16.69% in the prior quarter.
- Over five years, FCF Margin peaked at 20.16% in Q4 2024 and troughed at 3.63% in Q4 2022.
- A 5-year average of 9.58% and a median of 10.51% in 2023 frame the typical range for FCF Margin.
- The sharpest annual moves came in 2022 and 2023: FCF Margin plunged 865 bps in 2022, then soared 1415 bps in 2023.
- Over 5 years, FCF Margin stood at 3.63% in 2022, then soared by 389 bps to 10.51% in 2023, then jumped by 92 bps to 20.16% in 2024, then dropped by 17 bps to 16.69% in 2025, then advanced by 11 bps to 18.55% in 2026.
- According to Business Quant data, FCF Margin over the past three periods registered 18.55%, 16.69%, and 19.94% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,253.34 Bn | 3,824.30 Bn | 73.85 Bn | -4.89% |
| 2 | Meta Platforms | 1,548.59 Bn | 1,458.33 Bn | 49.47 Bn | 2.87% |
| 3 | Taboola.com | 1,144.63 Bn | 1,144.50 Bn | 139.48 Mn | - |
| 4 | Baidu | 289.09 Bn | 284.60 Bn | 1.88 Mn | 26.66% |
| 5 | Spotify Technology | 104.28 Bn | 94.04 Bn | 1.75 Bn | 18.55% |
| 6 | Joyy | 78.58 Bn | 77.69 Bn | 205.64 Mn | - |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 54.09% |
| 8 | Nebius | 49.00 Bn | 39.37 Bn | 295.20 Mn | 1,185.69% |
| 9 | 30.74 Bn | 27.96 Bn | 734.60 Mn | 32.39% | |
| 10 | Tencent Music Entertainment | 27.35 Bn | 24.65 Bn | 514.00 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 18.55% |
| Dec 31, 2025 | 16.69% |
| Sep 30, 2025 | 19.94% |
| Jun 30, 2025 | 17.15% |
| Mar 31, 2025 | 13.01% |
| Dec 31, 2024 | 20.16% |
| Sep 30, 2024 | 18.03% |
| Jun 30, 2024 | 12.98% |
| Mar 31, 2024 | 5.94% |
| Dec 31, 2023 | 10.51% |
| Sep 30, 2023 | 6.32% |
| Jun 30, 2023 | 0.47% |
| Mar 31, 2023 | 2.01% |
| Dec 31, 2022 | -3.63% |
| Sep 30, 2022 | 1.48% |
| Jun 30, 2022 | 1.54% |
| Mar 31, 2022 | 1.77% |
| Dec 31, 2021 | 5.02% |
| Sep 30, 2021 | 5.92% |
| Jun 30, 2021 | 3.17% |