Spotify Technology (SPOT) Price to Book (2018 - 2026)
Spotify Technology's Price to Book came in at 10.12 for Q3 2026, down 35.1% from 15.59 a year earlier but up 2.6% from the prior quarter.
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Analysis
Spotify Technology (SPOT) Price to Book (2018 - 2026) Analysis & Trends
For FY2025, Spotify Technology's Price to Book was 12.22, down 23.0% from FY2024.
- Going back by year, Price to Book was 15.86 in FY2024 (+19.6%), 13.27 in FY2023 (+122.5%), 5.96 in FY2022 (-68.2%) and 18.74 in FY2021 (+8.0%).
- The five-year range for quarterly Price to Book is 5.96 (Q4 2022) to 20.13 (Q2 2025).
- Year-over-year, Price to Book has declined for four consecutive quarters, with an average decline of 6.3% over the last eight quarters.
- The fastest year-over-year change in Price to Book over five years came in Q4 2023 (growth of 122.5%), and the weakest in Q4 2022 (a decline of 68.2%).
- Business Quant data shows SPOT's Price to Book at 9.87 (Q2 2026), 10.87 (Q1 2026) and 12.22 (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 10.12 |
| Jun 30, 2026 | 9.87 |
| Mar 31, 2026 | 10.87 |
| Dec 31, 2025 | 12.22 |
| Sep 30, 2025 | 15.59 |
| Jun 30, 2025 | 20.13 |
| Mar 31, 2025 | 16.58 |
| Dec 31, 2024 | 15.86 |
| Sep 30, 2024 | 14.04 |
| Jun 30, 2024 | 13.56 |
| Mar 31, 2024 | 14.57 |
| Dec 31, 2023 | 13.27 |
| Sep 30, 2023 | 13.23 |
| Jun 30, 2023 | 13.90 |
| Mar 31, 2023 | 10.11 |
| Dec 31, 2022 | 5.96 |
| Sep 30, 2022 | 7.55 |
| Jun 30, 2022 | 7.50 |
| Mar 31, 2022 | 12.11 |
| Dec 31, 2021 | 18.74 |
API Access
Spotify Technology Price to Book 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=price-to-book&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();