Spotify Technology reported a gross margin of 33.41% and a net margin of 11.41% for the quarter ended Jun 2026. These financial ratios cover 38 quarters of results from Mar 2017 through Jun 2026, standardized by Business Quant from the company’s SEC filings.
| Ratios | Mar2017 | Jun2017 | Sep2017 | Dec2017 | Mar2018 | Jun2018 | Sep2018 | Dec2018 | Mar2019 | Jun2019 | Sep2019 | Dec2019 | Mar2020 | Jun2020 | Sep2020 | Dec2020 | Mar2021 | Jun2021 | Sep2021 | Dec2021 | Mar2022 | Jun2022 | Sep2022 | Dec2022 | Mar2023 | Jun2023 | Sep2023 | Dec2023 | Mar2024 | Jun2024 | Sep2024 | Dec2024 | Mar2025 | Jun2025 | Sep2025 | Dec2025 | Mar2026 | Jun2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||||||||||||||||||||||||||||||
| Gross Margin | 26.71% | 26.48% | 25.22% | 24.58% | 24.70% | 25.30% | 25.18% | 24.11% | 26.36% | 26.70% | 27.61% | 29.21% | 31.09% | 32.25% | 31.65% | 31.48% | 31.62% | 33.08% | 32.98% | 33.41% | ||||||||||||||||||
| EBT Margin | 6.48% | -0.30% | 5.82% | -3.14% | -4.74% | -9.19% | -6.77% | -7.59% | 2.17% | -3.57% | 4.79% | 7.09% | 9.98% | 11.76% | 7.83% | 1.14% | 19.36% | 22.53% | 20.67% | 15.07% | ||||||||||||||||||
| EBIT Margin | 3.00% | -0.26% | -0.23% | -6.77% | -7.51% | -7.30% | -5.13% | -7.77% | 0.95% | -2.04% | 4.62% | 6.99% | 11.38% | 11.24% | 12.15% | 9.68% | 13.62% | 15.47% | 15.77% | 13.71% | ||||||||||||||||||
| EBITDA Margin | 3.00% | -0.26% | -0.23% | -6.77% | -7.51% | -7.30% | -5.13% | -7.77% | 0.95% | -2.04% | 4.62% | 6.99% | 11.38% | 11.24% | 12.15% | 9.68% | 13.62% | 15.47% | 15.77% | 13.71% | ||||||||||||||||||
| Operating Margin | 3.00% | -0.26% | -0.23% | -6.77% | -7.51% | -7.30% | -5.13% | -7.77% | 0.95% | -2.04% | 4.62% | 6.99% | 11.38% | 11.24% | 12.15% | 9.68% | 13.62% | 15.47% | 15.77% | 13.71% | ||||||||||||||||||
| Net Margin | 0.08% | -1.45% | 4.92% | -4.36% | -5.47% | 18.64% | -7.40% | -9.51% | 1.94% | 27.08% | 5.42% | 7.20% | 7.52% | 8.65% | 5.37% | -2.05% | 21.04% | 25.91% | 15.91% | 11.41% | ||||||||||||||||||
| FCF Margin | 5.92% | 5.02% | 1.77% | 1.54% | 1.48% | -2.05% | 2.01% | 0.47% | 6.32% | 10.84% | 5.94% | 12.98% | 18.03% | 20.96% | 13.01% | 17.15% | 19.94% | 19.38% | 18.55% | 17.50% | ||||||||||||||||||
| Efficiency | ||||||||||||||||||||||||||||||||||||||
| Assets AverageAssets Avg. | 8.63B | 8.22B | 8.05B | 7.89B | 7.79B | 7.74B | 7.94B | 8.02B | 8.11B | 8.62B | 9.42B | 10.39B | 11.26B | 12.21B | 13.09B | 14.29B | 16.21B | 17.33B | 16.42B | 15.67B | ||||||||||||||||||
| Invested CapitalInvested Cap. | 3,436.09B | 3.90B | 3.74B | 3.68B | 3.48B | 3.62B | 3.78B | 3.54B | 3.66B | 4.03B | 5.00B | 6.06B | 6.58B | 7.57B | 6.64B | 7.58B | 9.17B | 11.40B | 9.46B | 9.84B | ||||||||||||||||||
| Asset Utilization RatioAsset Util. | 1.27 | 1.39 | 1.47 | 1.53 | 1.56 | 1.59 | 1.59 | 1.62 | 1.68 | 1.66 | 1.59 | 1.51 | 1.45 | 1.39 | 1.33 | 1.26 | 1.15 | 1.12 | 1.24 | 1.35 | ||||||||||||||||||
| Leverage & Solvency | ||||||||||||||||||||||||||||||||||||||
| Interest Coverage RatioInterest Cover | -5.36 | 0.33 | 0.43 | 13.86 | 12.67 | 2.69 | 2.03 | 9.15 | -2.29 | 0.74 | -3.17 | -3.69 | -3.72 | -4.54 | -2.02 | -0.91 | -34.24 | 1.56 | -27.50 | -31.19 | ||||||||||||||||||
| Debt Ratio | 416.60 | 0.18 | 0.17 | 0.16 | 0.16 | 0.15 | 0.16 | 0.16 | 0.16 | 0.15 | 0.14 | 0.14 | 0.13 | 0.13 | 0.00 | 0.00 | 0.00 | 0.10 | 0.01 | 0.01 | ||||||||||||||||||
| Times Interest Earned | -5.36 | 0.33 | 0.43 | 13.86 | 12.67 | 2.69 | 2.03 | 9.15 | -2.29 | 0.74 | -3.17 | -3.69 | -3.72 | -4.54 | -2.02 | -0.91 | -34.24 | 1.56 | -27.50 | -31.19 | ||||||||||||||||||
| Valuation | ||||||||||||||||||||||||||||||||||||||
| Price to EarningsP/E | 0.00B | -0.00B | 197.37 | -135.17 | -99.08 | 25.35 | -106.95 | -94.37 | 422.44 | 34.64 | 243.10 | 209.65 | 220.52 | 232.54 | 473.73 | -0.00B | 135.38 | 87.47 | 118.24 | 149.18 | ||||||||||||||||||
| Price to SalesP/S | 14.53 | 14.62 | 9.72 | 5.90 | 5.42 | 4.72 | 7.91 | 8.97 | 8.18 | 9.38 | 13.17 | 15.09 | 16.59 | 20.12 | 25.44 | 32.96 | 28.49 | 22.66 | 18.81 | 17.02 | ||||||||||||||||||
| Price to BookP/B | 17.17 | 18.55 | 12.04 | 7.34 | 7.37 | 6.23 | 10.27 | 13.87 | 12.84 | 13.65 | 14.47 | 13.49 | 14.28 | 15.45 | 17.06 | 20.85 | 15.65 | 12.33 | 10.64 | 9.70 | ||||||||||||||||||
| Enterprise Value | 39.05B | 40.97B | 25.05B | 14.22B | 12.89B | 11.84B | 22.14B | 27.31B | 25.85B | 32.51B | 46.95B | 56.05B | 65.98B | 83.24B | 103.80B | 146.97B | 131.69B | 108.51B | 89.57B | 83.59B | ||||||||||||||||||
| EV to EBIT | 441.46 | -0.00B | -0.00B | -68.70 | -56.06 | -50.25 | -132.21 | -101.55 | 741.98 | -402.89 | 257.26 | 195.66 | 132.32 | 163.30 | 193.86 | 319.80 | 193.55 | 132.98 | 107.00 | 109.79 | ||||||||||||||||||
| EV to EBITDA | 441.46 | -0.00B | -0.00B | -68.70 | -56.06 | -50.25 | -132.21 | -101.55 | 741.98 | -402.89 | 257.26 | 195.66 | 132.32 | 163.30 | 193.86 | 319.80 | 193.55 | 132.98 | 107.00 | 109.79 | ||||||||||||||||||
| Market Capitalization | 42.86B | 44.97B | 29.02B | 18.03B | 16.58B | 15.26B | 25.83B | 31.03B | 29.89B | 37.05B | 52.03B | 61.86B | 72.65B | 91.20B | 112.12B | 156.42B | 142.28B | 119.53B | 99.81B | 94.50B | ||||||||||||||||||
| Price to FCFP/FCF | 245.58 | 291.18 | 550.12 | 384.01 | 365.48 | -230.12 | 394.48 | 0.00B | 129.52 | 86.51 | 221.71 | 116.29 | 92.01 | 96.00 | 195.58 | 192.19 | 142.85 | 116.95 | 101.37 | 97.25 | ||||||||||||||||||
| EV to FCF | 223.71 | 265.26 | 474.86 | 302.92 | 284.01 | -178.58 | 338.12 | 0.00B | 112.00 | 75.92 | 200.09 | 105.36 | 83.55 | 87.62 | 181.06 | 180.58 | 132.21 | 106.17 | 90.97 | 86.02 | ||||||||||||||||||
| EV to CFO | 269.18 | 300.92 | 603.21 | 341.76 | 319.52 | -165.82 | 349.58 | 0.00B | 112.53 | 76.11 | 204.83 | 105.79 | 84.02 | 88.22 | 183.07 | 183.13 | 135.88 | 108.90 | 91.52 | 88.13 | ||||||||||||||||||
| Return Ratios | ||||||||||||||||||||||||||||||||||||||
| Return on Sales [ROS]ROS | 3.00% | -0.26% | -0.23% | -6.77% | -7.51% | -7.30% | -5.13% | -7.77% | 0.95% | -2.04% | 4.62% | 6.99% | 11.38% | 11.24% | 12.15% | 9.68% | 13.62% | 15.47% | 15.77% | 13.71% | ||||||||||||||||||
| Return on Capital Employed [ROCE]ROCE | 0.44% | 2.47% | 1.10% | -1.70% | -5.82% | -16.35% | -10.62% | -11.28% | -7.88% | -11.42% | -1.41% | 4.08% | 7.90% | 19.82% | 14.03% | 14.07% | 13.53% | 14.43% | 17.07% | 19.81% | ||||||||||||||||||
| Return on Invested Capital [ROIC]ROIC | 0.00% | 0.00% | 0.51% | 0.40% | -32.72% | -22.54% | -24.45% | -26.98% | -19.57% | -13.23% | -2.60% | 9.23% | 13.80% | 17.72% | 20.11% | 17.72% | 21.74% | 24.24% | 25.62% | 30.55% | ||||||||||||||||||
| Return on Assets [ROA]ROA | -1.66% | -0.47% | 1.00% | -0.36% | -2.55% | -5.54% | -10.30% | -12.63% | -9.55% | -6.67% | -1.27% | 4.85% | 6.78% | 10.08% | 9.58% | 6.02% | 9.76% | 14.76% | 19.27% | 24.85% |