Spotify Technology (SPOT) Return on Capital Employed [ROCE] (2018 - 2026)
Spotify Technology (SPOT) posted Return on Capital Employed [ROCE] of 19.81% for the quarter ended Jun 30, 2026, up 5.74 percentage points from 14.07% a year earlier and up 2.74 percentage points from the prior quarter.
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Analysis
Spotify Technology (SPOT) Return on Capital Employed [ROCE] (2018 - 2026) Analysis & Trends
For the year ended Dec 31, 2025, Spotify Technology's Return on Capital Employed [ROCE] came in at 16.95%, down 6.77 percentage points from the prior year.
- Annual Return on Capital Employed [ROCE] shows a five-year change of +27.62 percentage points (years ended Dec 2020 to Dec 2025).
- In prior years, Spotify Technology's Return on Capital Employed [ROCE] was 23.72% in the year ended Dec 31, 2024 (+35.76 pp), -12.04% in the year ended Dec 31, 2023 (+3.21 pp), -15.25% in the year ended Dec 31, 2022 (-17.92 pp) and 2.67% in the year ended Dec 31, 2021 (+13.34 pp).
- The figure for the quarter ended Jun 30, 2026 stands as the highest quarterly Return on Capital Employed [ROCE] since the quarter ended Dec 31, 2024.
- On a year-over-year basis, Return on Capital Employed [ROCE] increased in seven of the last eight quarters, with an average year-over-year change of +10.18 percentage points.
- The strongest year-over-year quarter for Return on Capital Employed [ROCE] in the past five years was the quarter ended Dec 31, 2024, with a gain of 31.24 percentage points; the weakest was the quarter ended Dec 31, 2022, with a drop of 18.81 percentage points.
- According to Business Quant data, Return on Capital Employed [ROCE] for the three prior quarters was 17.07% (quarter ended Mar 31, 2026), 14.43% (quarter ended Dec 31, 2025) and 13.53% (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 21.49% |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 23.74% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 30.16% |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 2.77% |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 14.37% |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 13.97% |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 121.68% |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | 22.53% |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 19.81% |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 28.23% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 19.81% |
| Mar 31, 2026 | 17.07% |
| Dec 31, 2025 | 14.43% |
| Sep 30, 2025 | 13.53% |
| Jun 30, 2025 | 14.07% |
| Mar 31, 2025 | 14.03% |
| Dec 31, 2024 | 19.82% |
| Sep 30, 2024 | 7.90% |
| Jun 30, 2024 | 4.08% |
| Mar 31, 2024 | -1.41% |
| Dec 31, 2023 | -11.42% |
| Sep 30, 2023 | -7.88% |
| Jun 30, 2023 | -11.28% |
| Mar 31, 2023 | -10.62% |
| Dec 31, 2022 | -16.35% |
| Sep 30, 2022 | -5.82% |
| Jun 30, 2022 | -1.70% |
| Mar 31, 2022 | 1.10% |
| Dec 31, 2021 | 2.47% |
| Sep 30, 2021 | 0.44% |
API Access
Spotify Technology Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();