Spotify Technology (SPOT) Invested Capital (2021 - 2026)
Spotify Technology (SPOT) posted Invested Capital of -$1.5 billion for Q1 2026, down 189.95% sequentially from $1.7 billion in Q4 2025, and down 187.75% YoY from $1.7 billion in Q1 2025.
Spotify Technology (SPOT) Invested Capital (2021 - 2026) Analysis & Trends
Spotify Technology has reported Invested Capital for 6 years, with the latest figure at -$1.5 billion in Q1 2026.
- Quarterly Invested Capital fell 187.75% year-over-year to -$1.5 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $4.4 billion (down 30.11% YoY) and the FY2025 annual result came in at $1.7 billion, up 3.2% from the prior year.
- Invested Capital fell to -$1.5 billion in Q1 2026 per SPOT's latest filing, from $1.7 billion in the prior quarter.
- Over five years, Invested Capital peaked at $2.2 billion in Q2 2025 and troughed at -$1.5 billion in Q1 2026.
- A 5-year average of $1.3 billion and a median of $1.3 billion in 2023 frame the typical range for Invested Capital.
- The sharpest annual moves came in 2025 and 2026: Invested Capital soared 53.26% in 2025, then sank 187.75% in 2026.
- Over 5 years, Invested Capital stood at $1.2 billion in 2022, then grew by 12.47% to $1.3 billion in 2023, then climbed by 27.06% to $1.6 billion in 2024, then increased by 3.2% to $1.7 billion in 2025, then tumbled by 189.95% to -$1.5 billion in 2026.
- According to Business Quant data, Invested Capital over the past three periods registered -$1.5 billion, $1.7 billion, and $2.0 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,255.28 Bn | 3,826.24 Bn | 73.85 Bn | - |
| 2 | Meta Platforms | 1,552.50 Bn | 1,462.24 Bn | 49.47 Bn | - |
| 3 | Taboola.com | 1,147.41 Bn | 1,147.28 Bn | 139.48 Mn | - |
| 4 | Baidu | 288.87 Bn | 284.38 Bn | 1.88 Mn | 2.16 Bn |
| 5 | Spotify Technology | 104.29 Bn | 94.05 Bn | 1.75 Bn | -1.53 Bn |
| 6 | Joyy | 78.58 Bn | 77.69 Bn | 205.64 Mn | 10.67 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | - |
| 8 | Nebius | 49.09 Bn | 39.47 Bn | 295.20 Mn | 18.40 Mn |
| 9 | 30.80 Bn | 28.01 Bn | 734.60 Mn | - | |
| 10 | Tencent Music Entertainment | 27.36 Bn | 24.66 Bn | 514.00 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -1.53 Bn |
| Dec 31, 2025 | 1.70 Bn |
| Sep 30, 2025 | 2.04 Bn |
| Jun 30, 2025 | 2.18 Bn |
| Mar 31, 2025 | 1.74 Bn |
| Dec 31, 2024 | 1.64 Bn |
| Sep 30, 2024 | 1.47 Bn |
| Jun 30, 2024 | 1.42 Bn |
| Mar 31, 2024 | 1.38 Bn |
| Dec 31, 2023 | 1.29 Bn |
| Sep 30, 2023 | 1.32 Bn |
| Jun 30, 2023 | 1.27 Bn |
| Mar 31, 2023 | 1.24 Bn |
| Dec 31, 2022 | 1.15 Bn |
| Sep 30, 2022 | 1.21 Bn |
| Jun 30, 2022 | 1.20 Bn |
| Mar 31, 2022 | 1.29 Bn |
| Dec 31, 2021 | 1.38 Bn |
| Sep 30, 2021 | 3,433.50 Bn |
| Jun 30, 2021 | 1.44 Bn |