Spotify Technology (SPOT) Net Margin (2017 - 2026)
Spotify Technology (SPOT) reported Net Margin of 11.41% for the quarter ended Jun 30, 2026, up 13.46 percentage points from -2.05% a year earlier but down 4.50 percentage points from the prior quarter.
Spotify Technology (SPOT) Net Margin (2017 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Spotify Technology's Net Margin came in at 18.44%, up 13.67 percentage points year-over-year; for the year ended Dec 31, 2025, it was 12.87%, up 5.61 percentage points from the prior year.
- Net Margin has a five-year change of +20.24 percentage points (years ended Dec 2020 to Dec 2025).
- By year, Net Margin came in at 7.26% in the year ended Dec 31, 2024 (+11.28 pp), -4.02% in the year ended Dec 31, 2023 (-0.35 pp), -3.67% in the year ended Dec 31, 2022 (-3.32 pp) and -0.35% in the year ended Dec 31, 2021 (+7.02 pp).
- Five-year quarterly Net Margin spans a low of -9.51% in the quarter ended Jun 30, 2023 and a high of 25.91% in the quarter ended Dec 31, 2025.
- Year over year, Net Margin has now increased in each of the last four quarters, with an average year-over-year change of +7.70 percentage points over the last eight quarters.
- The high point for year-over-year Net Margin in five years was the quarter ended Dec 31, 2025 (a gain of 17.26 percentage points); the low point was the quarter ended Mar 31, 2023 (a drop of 12.32 percentage points).
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at 15.91% (quarter ended Mar 31, 2026), 25.91% (quarter ended Dec 31, 2025) and 21.04% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 93.58% |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 26.07% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 27.08% |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 3.92% |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 41.92% |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 16.87% |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 26.52% |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | 25.36% |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 11.41% |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 22.62% |
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 | -1.91% |
| Sep 30, 2023 | 1.94% |
| Jun 30, 2023 | -9.51% |
| Mar 31, 2023 | -7.40% |
| Dec 31, 2022 | -8.53% |
| 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% |
Spotify Technology Net 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=net-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();