Spotify Technology (SPOT) Net Margin (2017 - 2026)
Spotify Technology (SPOT) posted Net Margin of 15.91% for Q1 2026, down 38.61% sequentially from 25.91% in Q4 2025, and up 1054.0% YoY from 1.38% in Q1 2025.
Powered by 
Analysis
Spotify Technology (SPOT) Net Margin (2017 - 2026) Analysis & Trends
Spotify Technology has reported Net Margin for 10 years, with the latest figure at 15.91% in Q1 2026.
- Quarterly Net Margin rose 1054.0% year-over-year to 15.91% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 15.57% (up 838.0% YoY) and the FY2025 annual result came in at 12.87%, up 561.0% from the prior year.
- Net Margin fell to 15.91% in Q1 2026 per SPOT's latest filing, from 25.91% in the prior quarter.
- Over five years, Net Margin peaked at 25.91% in Q4 2025 and troughed at 9.51% in Q2 2023.
- A 5-year average of 3.8% and a median of 4.92% in 2022 frame the typical range for Net Margin.
- The sharpest annual moves came in 2023 and 2025: Net Margin sank 1232 bps in 2023, then surged 1726 bps in 2025.
- Over 5 years, Net Margin stood at 8.53% in 2022, then surged by 78 bps to 1.91% in 2023, then jumped by 554 bps to 8.65% in 2024, then surged by 199 bps to 25.91% in 2025, then slumped by 39 bps to 15.91% in 2026.
- According to Business Quant data, Net Margin over the past three periods registered 15.91%, 25.91%, and 21.04% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,083.83 Bn | 3,654.79 Bn | 73.85 Bn | 93.58% |
| 2 | Meta Platforms | 1,456.07 Bn | 1,365.81 Bn | 49.47 Bn | 26.07% |
| 3 | Spotify Technology | 111.71 Bn | 104.79 Bn | 1.86 Bn | 11.41% |
| 4 | Nebius | 50.03 Bn | 40.93 Bn | 448.70 Mn | -2.47% |
| 5 | 28.44 Bn | 25.65 Bn | 734.60 Mn | 31.41% | |
| 6 | Bilibili | 13.59 Bn | 11.45 Bn | 433.97 Mn | 4.33% |
| 7 | Tencent Music Entertainment | 12.71 Bn | 9.21 Bn | 582.00 Mn | - |
| 8 | 12.21 Bn | 10.93 Bn | 922.30 Mn | -3.96% | |
| 9 | Match | 9.45 Bn | 8.86 Bn | 648.84 Mn | 19.99% |
| 10 | Snap | 9.26 Bn | 6.60 Bn | 931.11 Mn | -10.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.41% |
| Mar 31, 2026 | 15.91% |
| Dec 31, 2025 | 25.91% |
| Sep 30, 2025 | 21.04% |
| Jun 30, 2025 | -2.05% |
| Mar 31, 2025 | 5.37% |
| Dec 31, 2024 | 8.65% |
| Sep 30, 2024 | 7.52% |
| Jun 30, 2024 | 7.20% |
| Mar 31, 2024 | 5.42% |
| Dec 31, 2023 | 27.08% |
| Sep 30, 2023 | 1.94% |
| Jun 30, 2023 | -9.51% |
| Mar 31, 2023 | -7.40% |
| Dec 31, 2022 | 18.64% |
| Sep 30, 2022 | -5.47% |
| Jun 30, 2022 | -4.36% |
| Mar 31, 2022 | 4.92% |
| Dec 31, 2021 | -1.45% |
| Sep 30, 2021 | 0.08% |