Spotify Technology (SPOT) FCF Margin (2017 - 2026)
Spotify Technology (SPOT) recorded FCF Margin of 17.50% in the quarter ended Jun 30, 2026, up 0.35 percentage points from 17.15% a year earlier but down 1.05 percentage points from the prior quarter.
Spotify Technology (SPOT) FCF Margin (2017 - 2026) Analysis & Trends
On a TTM basis, Spotify Technology's FCF Margin came in at 18.81% as of Jun 30, 2026, up 1.50 percentage points year-over-year; for the year ended Dec 31, 2025, it was 17.42%, up 2.63 percentage points from the prior year.
- Annual FCF Margin has increased for three straight years, with a five-year change of +13.14 percentage points (years ended Dec 2020 to Dec 2025).
- Across earlier years, FCF Margin came in at 14.79% in the year ended Dec 31, 2024 (+9.61 pp), 5.18% in the year ended Dec 31, 2023 (+4.57 pp), 0.61% in the year ended Dec 31, 2022 (-4.01 pp) and 4.61% in the year ended Dec 31, 2021 (+0.34 pp).
- Quarterly FCF Margin has ranged from -2.05% in the quarter ended Dec 31, 2022 to 20.96% in the quarter ended Dec 31, 2024 over the past five years.
- On a year-over-year basis, FCF Margin rose in seven of the last eight quarters, with an average year-over-year change of +4.91 percentage points.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 12.89 percentage points in the quarter ended Dec 31, 2023, against a drop of 7.07 percentage points in the quarter ended Dec 31, 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 18.55% (quarter ended Mar 31, 2026), 19.38% (quarter ended Dec 31, 2025) and 19.94% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | -4.89% |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 2.87% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 12.14% |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 33.57% |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 18.25% |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 19.67% |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 49.55% |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | 22.77% |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 17.50% |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 35.20% |
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 | 10.84% |
| Sep 30, 2023 | 6.32% |
| Jun 30, 2023 | 0.47% |
| Mar 31, 2023 | 2.01% |
| Dec 31, 2022 | -2.05% |
| 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% |
Spotify Technology FCF Margin 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=fcf-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();