Spotify Technology (SPOT) Invested Capital (2019 - 2025)
Spotify Technology (SPOT) posted Invested Capital of $11.39 billion for the quarter ended Dec 31, 2025, up 50.9% from $7.55 billion a year earlier.
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Analysis
Spotify Technology (SPOT) Invested Capital (2019 - 2025) Analysis & Trends
Since the quarter ended Dec 31, 2017, Spotify Technology has reported Invested Capital for 28 quarters.
- Annual Invested Capital has increased for five consecutive years, with a five-year compound annual growth rate of 28.9% (years ended Dec 2020 to Dec 2025).
- In prior years, Spotify Technology's Invested Capital was $7.55 billion in the year ended Dec 31, 2024 (+41.8%), $5.32 billion in the year ended Dec 31, 2023 (+11.5%), $4.77 billion in the year ended Dec 31, 2022 (+25.6%) and $3.8 billion in the year ended Dec 31, 2021 (+18.6%).
- The figure for the quarter ended Dec 31, 2025 stands as the highest quarterly Invested Capital since the quarter ended Sep 30, 2021.
- The strongest year-over-year quarter for Invested Capital in the past five years was the quarter ended Jun 30, 2024, with growth of 113.4%; the weakest was the quarter ended Sep 30, 2022, with a decline of 99.9%.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 738.65 Bn |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 344.89 Bn |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 44.46 Bn |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 183.96 Bn |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | - |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 40.94 Bn |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 9.40 Bn |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | - |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | - |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 10.28 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 11.39 Bn |
| Sep 30, 2025 | 9.08 Bn |
| Jun 30, 2025 | 7.49 Bn |
| Mar 31, 2025 | 6.56 Bn |
| Dec 31, 2024 | 7.55 Bn |
| Sep 30, 2024 | 5.08 Bn |
| Jun 30, 2024 | 6.05 Bn |
| Mar 31, 2024 | 4.99 Bn |
| Dec 31, 2023 | 5.32 Bn |
| Sep 30, 2023 | 4.98 Bn |
| Jun 30, 2023 | 3.51 Bn |
| Mar 31, 2023 | 5.02 Bn |
| Dec 31, 2022 | 4.77 Bn |
| Sep 30, 2022 | 4.69 Bn |
| Jun 30, 2022 | 4.88 Bn |
| Mar 31, 2022 | 3.70 Bn |
| Dec 31, 2021 | 3.80 Bn |
| Sep 30, 2021 | 3,435.99 Bn |
| Jun 30, 2021 | 4.69 Bn |
| Mar 31, 2021 | 5.40 Bn |
API Access
Spotify Technology Invested Capital 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=invested-capital&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();