Spotify Technology (SPOT) Return on Capital Employed (2018 - 2025)

Spotify Technology has disclosed Return on Capital Employed across 8 years of filings, most recently posting 24.33% for Q4 2025.

• Return on Capital Employed for Q4 2025 came in at 24.33%, up 451.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 24.33% (up 451.0% YoY), and the FY2025 annual result was 31.7%, up 798.0% from the prior year.
• Return on Capital Employed came in at 24.33% for Q4 2025 at Spotify Technology, up from 19.82% in the prior quarter.
• In the past five years, Return on Capital Employed ranged from a high of 24.33% in Q4 2025 to a low of 16.35% in Q4 2022.
• The 5-year median for Return on Capital Employed is 0.75% (2021), against an average of 1.56%.
• Across the five-year window, Return on Capital Employed plunged 1881 bps in 2022 and soared 3124 bps in 2024, its largest moves.
• Spotify Technology's Return on Capital Employed stood at 2.47% in 2021, then plunged by 763 bps to 16.35% in 2022, then surged by 30 bps to 11.42% in 2023, then surged by 273 bps to 19.82% in 2024, then grew by 23 bps to 24.33% in 2025.
• The last three Return on Capital Employed figures came in at 24.33% (Q4 2025), 19.82% (Q4 2024), and 11.42% (Q4 2023), per Business Quant data.