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.
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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.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,083.83 Bn | 3,654.79 Bn | 73.85 Bn | -4.89% |
| 2 | Meta Platforms | 1,456.07 Bn | 1,365.81 Bn | 49.47 Bn | 2.87% |
| 3 | Spotify Technology | 111.71 Bn | 104.79 Bn | 1.86 Bn | 17.50% |
| 4 | Nebius | 50.03 Bn | 40.93 Bn | 448.70 Mn | 1,357.29% |
| 5 | 28.44 Bn | 25.65 Bn | 734.60 Mn | 32.39% | |
| 6 | Bilibili | 13.59 Bn | 11.45 Bn | 433.97 Mn | - |
| 7 | Tencent Music Entertainment | 12.71 Bn | 9.21 Bn | 582.00 Mn | - |
| 8 | 12.21 Bn | 10.93 Bn | 922.30 Mn | 22.88% | |
| 9 | Match | 9.45 Bn | 8.86 Bn | 648.84 Mn | 41.32% |
| 10 | Snap | 9.26 Bn | 6.60 Bn | 931.11 Mn | 7.54% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 17.50% |
| Mar 31, 2026 | 18.55% |
| Dec 31, 2025 | 19.38% |
| Sep 30, 2025 | 19.94% |
| Jun 30, 2025 | 17.15% |
| Mar 31, 2025 | 13.01% |
| Dec 31, 2024 | 20.96% |
| Sep 30, 2024 | 18.03% |
| Jun 30, 2024 | 12.98% |
| Mar 31, 2024 | 5.94% |
| Dec 31, 2023 | 163,453.88% |
| Sep 30, 2023 | 6.32% |
| Jun 30, 2023 | 0.47% |
| Mar 31, 2023 | 2.01% |
| Dec 31, 2022 | 789,637.08% |
| 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% |