Spotify Technology (SPOT) FCF Margin (2017 - 2026)

Spotify Technology has disclosed FCF Margin across 10 years of filings, most recently posting 18.55% for Q1 2026.

• FCF Margin for Q1 2026 came in at 18.55%, up 555.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 18.08% (up 196.0% YoY), and the FY2025 annual result was 16.71%, up 214.0% from the prior year.
• FCF Margin came in at 18.55% for Q1 2026 at Spotify Technology, up from 16.69% in the prior quarter.
• In the past five years, FCF Margin ranged from a high of 20.16% in Q4 2024 to a low of 3.63% in Q4 2022.
• The 5-year median for FCF Margin is 10.51% (2023), against an average of 9.58%.
• Across the five-year window, FCF Margin plunged 865 bps in 2022 and jumped 1415 bps in 2023, its largest moves.
• Spotify Technology's FCF Margin stood at 3.63% in 2022, then jumped by 389 bps to 10.51% in 2023, then surged by 92 bps to 20.16% in 2024, then decreased by 17 bps to 16.69% in 2025, then rose by 11 bps to 18.55% in 2026.
• The last three FCF Margin figures came in at 18.55% (Q1 2026), 16.69% (Q4 2025), and 19.94% (Q3 2025), per Business Quant data.