Spotify Technology S.A. (ETR:639)

Spotify Technology Ratios and Metrics

Market cap in millions EUR. Fiscal year is January - December.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 4, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	100,077	87,323	33,174	14,267	39,419	48,768
Market Cap Growth	13.06%	163.23%	132.52%	-63.81%	-19.17%	104.37%
Enterprise Value	94,796	83,305	31,564	12,613	38,022	47,715
Last Close Price	486.40	430.70	172.00	72.60	206.60	262.05
PE Ratio	71.23	76.73	-	-	-	-
PS Ratio	5.92	5.57	2.50	1.22	4.08	6.19
PB Ratio	12.87	15.81	13.15	5.94	18.60	17.39
P/TBV Ratio	14.99	20.38	25.23	12.68	33.78	24.32
P/FCF Ratio	34.33	38.23	49.22	679.39	142.82	269.44
P/OCF Ratio	33.81	37.95	48.79	310.16	109.19	188.29
EV/Sales Ratio	5.56	5.32	2.38	1.08	3.93	6.06
EV/EBITDA Ratio	45.19	56.40	3945.55	-	172.05	-
EV/EBIT Ratio	46.60	59.17	-	-	404.49	-
EV/FCF Ratio	32.52	36.47	46.83	600.61	137.76	263.62
Debt / Equity Ratio	0.29	0.38	0.70	0.73	0.86	0.22
Debt / EBITDA Ratio	1.08	1.36	27.52	-	8.26	-
Debt / FCF Ratio	0.77	0.91	2.61	82.91	6.61	3.36
Asset Turnover	1.34	1.54	1.66	1.58	1.43	1.38
Quick Ratio	1.34	1.70	1.19	1.15	1.26	0.67
Current Ratio	1.61	1.88	1.29	1.24	1.36	0.82
Return on Equity (ROE)	22.64%	28.28%	-21.61%	-19.03%	-1.38%	-24.00%
Return on Assets (ROA)	9.99%	8.65%	-0.64%	-5.56%	0.87%	-3.20%
Return on Capital (ROIC)	15.27%	14.81%	-1.22%	-10.19%	1.60%	-6.03%
Return on Capital Employed (ROCE)	23.90%	18.60%	-1.90%	-16.00%	2.40%	-8.60%
Earnings Yield	1.40%	1.30%	-1.60%	-3.01%	-0.09%	-1.19%
FCF Yield	2.91%	2.62%	2.03%	0.15%	0.70%	0.37%
Buyback Yield / Dilution	-3.39%	-6.30%	0.57%	-0.98%	-3.39%	-3.66%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.