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Spotify Technology (SPOT) Financials

Spotify Technology logo
$419.42 +1.59 (+0.38%)
Closing price 03:59 PM Eastern
Extended Trading
$419.54 +0.12 (+0.03%)
As of 07:57 PM Eastern
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Annual Income Statements for Spotify Technology

Annual Income Statements for Spotify Technology

This table shows Spotify Technology's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -567 -1,484 -89 -209 -710 -38 -460 -588 1,178 2,596
Consolidated Net Income / (Loss)		 -567 -1,484 -89 -209 -710 -38 -460 -588 1,178 2,596
Net Income / (Loss) Continuing Operations		 -567 -1,484 -89 -209 -710 -38 -460 -588 1,178 2,596
Total Pre-Tax Income 		-563 -1,481 -198 -147 -866 282 -396 -559 1,388 2,610
Total Operating Income		 -367 -454 -49 -82 -358 106 -705 -493 1,413 2,580
Total Gross Profit		 422 1,020 1,549 1,933 2,462 2,932 3,130 3,758 4,890 6,450
Total Revenue		 3,106 4,913 6,019 7,591 9,626 10,942 12,546 14,654 16,223 20,169
Operating Revenue		 3,106 4,913 6,019 7,591 9,626 10,942 12,546 14,654 16,223 20,169
Total Cost of Revenue		 2,684 3,893 4,470 5,658 7,165 8,010 9,415 10,896 11,333 13,719
Operating Cost of Revenue		 2,684 3,893 4,470 5,658 7,165 8,010 9,415 10,896 11,333 13,719
Total Operating Expenses		 789 1,474 1,598 2,014 2,819 2,826 3,835 4,251 3,477 3,871
Selling, General & Admin Expense		 184 317 324 397 540 509 670 647 498 562
Marketing Expense		 387 681 710 927 1,257 1,285 1,682 1,696 1,441 1,674
Research & Development Expense		 218 476 564 690 1,022 1,032 1,484 1,908 1,538 1,635
Total Other Income / (Expense), net		 -196 -1,027 -149 -65 -508 175 309 -65 -25 31
Interest Expense		 353 1,170 668 374 623 103 141 243 364 312
Interest & Investment Income		 160 142 521 309 115 278 450 178 340 343
Income Tax Expense		 4.21 2.40 -109 62 -156 320 64 30 210 14
Basic Earnings per Share		 ($3.63) ($9.78) ($0.44) ($1.03) ($3.10) ($0.18) ($2.39) ($3.02) $5.87 $12.64
Weighted Average Basic Shares Outstanding		 148.37M 151.67M 177.15M 180.96M 187.58M 191.30M 192.93M 194.73M 200.62M 205.41M
Diluted Earnings per Share		 ($3.63) ($9.78) ($0.51) ($1.03) ($3.10) ($1.03) ($3.13) ($3.02) $5.69 $12.33
Weighted Average Diluted Shares Outstanding		 148.37M 151.67M 181.21M 180.96M 187.58M 193.94M 195.85M 194.73M 206.99M 210.51M
Weighted Average Basic & Diluted Shares Outstanding		 - - 180.86M 184.33M 190.21M 384.30M 193.29M 197.14M 203.84M 205.83M

Quarterly Income Statements for Spotify Technology

No quarterly income statements for Spotify Technology are available.

Annual Cash Flow Statements for Spotify Technology

This table details how cash moves in and out of Spotify Technology's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 200 -267 474 171 210 1,612 -446 771 1,598 900
Net Cash From Operating Activities		 -106 215 394 643 316 409 49 752 2,382 3,442
Net Cash From Continuing Operating Activities		 106 210 394 643 316 409 49 752 2,382 3,442
Net Income / (Loss) Continuing Operations		 -567 -1,484 -89 -209 -710 -38 -460 -588 1,178 2,596
Consolidated Net Income / (Loss)		 -567 -1,484 -89 -209 -710 -38 -460 -588 1,178 2,596
Depreciation Expense		 34 55 24 80 105 106 126 122 88 93
Amortization Expense		 6.31 9.61 13 18 31 37 57 189 82 36
Non-Cash Adjustments To Reconcile Net Income		 317 1,104 149 278 575 404 185 483 513 285
Changes in Operating Assets and Liabilities, net		 317 525 298 476 315 -101 141 546 521 432
Net Cash From Investing Activities		 -870 -523 -25 -245 -454 -212 -453 -240 -1,538 -2,095
Net Cash From Continuing Investing Activities		 -870 -523 -25 -245 -454 -212 -453 -240 -1,538 -2,095
Purchase of Property, Plant & Equipment		 -28 -43 -143 -152 -95 -96 -27 -6.64 -18 -72
Acquisitions		 - -59 -10 -371 -410 -130 -327 -7.74 -10 -21
Purchase of Investments		 -1,470 -1,665 -1,223 -1,011 -1,654 -563 -489 -1,759 -7,530 -22,616
Sale and/or Maturity of Investments		 - 1,297 1,403 1,305 1,736 587 394 1,525 6,027 20,618
Other Investing Activities, net		 -13 -53 -52 -16 -31 -10 -3.21 7.74 -7.25 -3.52
Net Cash From Financing Activities		 964 41 105 -228 348 1,415 -43 259 755 -447
Net Cash From Continuing Financing Activities		 964 41 105 -221 385 1,415 -43 259 755 -447
Repayment of Debt		 - 0.00 - - - - -46 -73 -71 -86
Repurchase of Common Equity		 0.00 0.00 -82 -409 0.00 -101 -2.14 0.00 0.00 -515
Other Financing Activities, net		 58 30 188 171 385 96 5.35 332 826 154

Quarterly Cash Flow Statements for Spotify Technology

No quarterly cash flow statements for Spotify Technology are available.

Annual Balance Sheets for Spotify Technology

This table presents Spotify Technology's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 3,732 4,963 5,748 7,728 8,115 8,169 9,232 12,426 17,622
Total Current Assets		 2,280 2,571 2,504 2,890 4,948 4,656 5,819 8,673 12,318
Cash & Equivalents		 573 1,020 1,195 1,406 3,106 2,656 3,445 4,949 6,171
Short-Term Investments		 1,240 1,047 777 728 856 928 1,217 2,761 4,940
Accounts Receivable		 432 458 451 567 703 738 949 798 941
Current Deferred & Refundable Income Taxes		 0.00 2.29 4.49 4.89 5.66 5.35 22 29 136
Other Current Assets		 35 43 76 184 278 328 186 137 130
Plant, Property, & Equipment, net		 80 225 327 382 421 372 273 195 221
Plant, Property & Equipment, gross		 80 225 327 382 421 372 273 195 221
Total Noncurrent Assets		 1,365 2,167 2,918 4,455 2,746 3,141 3,141 3,482 2,371
Goodwill		 - 167 536 899 1,012 1,250 1,258 1,243 1,271
Intangible Assets		 195 32 65 118 101 136 93 50 48
Noncurrent Deferred & Refundable Income Taxes		 11 9.16 10 18 15 8.56 31 193 777
Other Noncurrent Operating Assets		 66 74 626 638 582 530 415 304 275
Total Liabilities & Shareholders' Equity		 3,732 4,963 5,748 7,728 8,115 8,169 9,232 12,426 17,622
Total Liabilities		 3,446 2,566 3,462 4,301 5,717 5,600 6,441 6,707 7,847
Total Current Liabilities		 2,302 2,460 2,737 3,543 3,651 3,761 4,524 4,606 7,141
Short-Term Debt		 - - - - - - - - 1,711
Accounts Payable		 410 489 616 779 898 904 1,082 1,389 1,401
Accrued Expenses		 1,126 1,231 1,614 2,135 2,084 2,239 2,699 2,429 3,038
Current Deferred & Payable Income Tax Liabilities		 11 8.01 10 11 26 12 13 34 84
Other Current Liabilities		 425 436 139 153 126 50 42 47 906
Total Noncurrent Liabilities		 1,138 106 725 759 2,066 1,839 1,917 2,101 705
Long-Term Debt		 - - - 0.00 1,360 1,207 1,331 1,593 0.00
Capital Lease Obligations		 - 0.00 698 705 655 594 545 478 508
Noncurrent Deferred & Payable Income Tax Liabilities		 3.60 2.29 2.24 - 0.00 5.35 8.85 22 191
Other Noncurrent Operating Liabilities		 - 104 25 54 50 33 32 8.28 3.52
Total Equity & Noncontrolling Interests		 286 2,397 2,286 3,427 2,398 2,569 2,791 5,719 9,775
Total Preferred & Common Equity		 286 2,397 2,286 3,427 2,398 2,569 2,791 5,719 9,775
Total Common Equity		 286 2,397 2,286 3,427 2,398 2,569 2,791 5,719 9,775
Common Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7,624
Retained Earnings		 -2,915 -2,867 -3,040 -4,019 -3,644 -3,902 -4,626 -3,151 -976
Treasury Stock		 0.00 -88 -415 -214 -294 -280 -290 -271 -823
Other Equity Adjustments		 3,201 5,352 5,741 7,659 6,337 6,750 7,707 9,141 3,950

Quarterly Balance Sheets for Spotify Technology

This table presents Spotify Technology's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q4 2023 Q4 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 8,169 9,232 12,426
Total Current Assets		 4,656 5,819 8,673
Cash & Equivalents		 2,656 3,445 4,949
Short-Term Investments		 928 1,217 2,761
Accounts Receivable		 738 949 798
Current Deferred & Refundable Income Taxes		 5.35 22 29
Other Current Assets		 328 186 137
Plant, Property, & Equipment, net		 372 273 195
Plant, Property & Equipment, gross		 372 273 195
Total Noncurrent Assets		 3,141 3,141 3,482
Long-Term Investments		 1,217 1,344 1,692
Goodwill		 1,250 1,258 1,243
Intangible Assets		 136 93 50
Noncurrent Deferred & Refundable Income Taxes		 8.56 31 193
Other Noncurrent Operating Assets		 530 415 304
Total Liabilities & Shareholders' Equity		 8,169 9,232 12,426
Total Liabilities		 5,600 6,441 6,707
Total Current Liabilities		 3,761 4,524 4,606
Accounts Payable		 904 1,082 1,389
Accrued Expenses		 2,239 2,699 2,429
Current Deferred Revenue		 556 688 707
Current Deferred & Payable Income Tax Liabilities		 12 13 34
Other Current Liabilities		 50 42 47
Total Noncurrent Liabilities		 1,839 1,917 2,101
Long-Term Debt		 1,207 1,331 1,593
Capital Lease Obligations		 594 545 478
Noncurrent Deferred & Payable Income Tax Liabilities		 5.35 8.85 22
Other Noncurrent Operating Liabilities		 33 32 8.28
Total Equity & Noncontrolling Interests		 2,569 2,791 5,719
Total Preferred & Common Equity		 2,569 2,791 5,719
Total Common Equity		 2,569 2,791 5,719
Common Stock		 0.00 0.00 0.00
Retained Earnings		 -3,902 -4,626 -3,151
Treasury Stock		 -280 -290 -271
Other Equity Adjustments		 6,750 7,707 9,141

Annual Metrics And Ratios for Spotify Technology

This table displays calculated financial ratios and metrics derived from Spotify Technology's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 58.21% 22.51% 26.12% 26.81% 13.67% 14.65% 16.81% 10.71% 24.33%
EBITDA Growth		 0.00% -18.59% 96.46% 214.40% -1,515.08% 212.50% -308.72% 65.04% 967.11% 71.15%
EBIT Growth		 0.00% -23.35% 88.88% -62.68% -336.90% 129.72% -762.66% 30.02% 386.38% 82.57%
NOPAT Growth		 0.00% -23.68% 89.16% -66.47% -336.90% 94.20% -3,297.10% 30.02% 447.19% 113.98%
Net Income Growth		 0.00% -161.63% 93.98% -133.83% -240.02% 94.58% -1,095.43% -27.93% 300.16% 120.38%
EPS Growth		 0.00% -169.37% 93.73% -101.96% -200.97% 66.77% -204.32% 3.66% 288.52% 116.66%
Operating Cash Flow Growth		 0.00% 302.37% 283.10% 63.33% -50.80% 29.14% -87.96% 1,428.56% 216.63% 44.52%
Free Cash Flow Firm Growth		 0.00% 0.00% -90.46% -1,001.24% 85.80% -60.26% -200.44% 186.93% 176.10% 74.56%
Invested Capital Growth		 0.00% 0.00% -9.84% 57.04% -17.45% 25.53% 25.99% -209.70% -26.13% -8.17%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 13.58% 20.76% 25.73% 25.46% 25.57% 26.80% 24.95% 25.64% 30.14% 31.98%
EBITDA Margin		 -10.54% -7.90% -0.23% 0.21% -2.31% 2.29% -4.16% -1.25% 9.76% 13.43%
Operating Margin		 -11.82% -9.24% -0.82% -1.08% -3.72% 0.97% -5.62% -3.37% 8.71% 12.79%
EBIT Margin		 -11.82% -9.22% -0.84% -1.08% -3.72% 0.97% -5.62% -3.37% 8.71% 12.79%
Profit (Net Income) Margin		 -18.26% -30.20% -1.48% -2.75% -7.37% -0.35% -3.67% -4.02% 7.26% 12.87%
Tax Burden Percent		 100.75% 100.16% 45.09% 141.98% 81.95% -13.65% 116.22% 105.35% 84.86% 99.46%
Interest Burden Percent		 153.30% 327.06% 393.18% 179.45% 241.98% 264.89% 56.15% 113.23% 98.24% 101.18%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 113.65% 0.00% 0.00% 15.14% 0.54%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% -518.91% -6.66% -8.92% -24.85% -1.32% -18.52% -21.96% 27.68% 33.51%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -12.13% -1.16% -1.53% -5.31% 1.34% -8.66% -5.67% 13.05% 17.17%
Return on Assets (ROA)		 0.00% -39.75% -2.05% -3.90% -10.53% -0.49% -5.65% -6.76% 10.88% 17.28%
Return on Common Equity (ROCE)		 0.00% -518.91% -6.66% -8.92% -24.85% -1.32% -18.52% -21.96% 27.68% 33.51%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -518.91% -3.72% -9.13% -20.71% -1.60% -17.91% -21.09% 20.60% 0.00%
Net Operating Profit after Tax (NOPAT)		 -257 -318 -34 -57 -251 -15 -493 -345 1,199 2,566
NOPAT Margin		 -8.28% -6.47% -0.57% -0.76% -2.60% -0.13% -3.93% -2.36% 7.39% 12.72%
Net Nonoperating Expense Percent (NNEP)		 0.00% -137.06% -1.94% -4.39% -12.82% -0.67% 1.12% -6.82% -0.37% 0.32%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - -11.30% -7.40% 15.39% 21.39%
Cost of Revenue to Revenue		 86.42% 79.24% 74.27% 74.54% 74.43% 73.20% 75.05% 74.36% 69.86% 68.02%
SG&A Expenses to Revenue		 5.93% 6.45% 5.38% 5.23% 5.61% 4.65% 5.34% 4.42% 3.07% 2.79%
R&D to Revenue		 7.01% 9.68% 9.37% 9.09% 10.62% 9.43% 11.83% 13.02% 9.48% 8.11%
Operating Expenses to Revenue		 25.41% 30.00% 26.55% 26.54% 29.29% 25.83% 30.57% 29.01% 21.43% 19.19%
Earnings before Interest and Taxes (EBIT)		 -367 -453 -50 -82 -358 106 -705 -493 1,413 2,580
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -327 -388 -14 16 -222 250 -522 -183 1,583 2,709
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 32.34 2.64 11.83 16.93 18.56 5.91 13.01 15.42 12.11
Price to Tangible Book Value (P/TBV)		 0.00 101.27 2.88 16.06 24.08 34.62 12.82 25.22 19.93 14.00
Price to Revenue (P/Rev)		 2.98 1.88 1.05 3.56 6.03 4.07 1.21 2.48 5.44 5.87
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 74.87 45.60
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.34% 2.19%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 1.29 0.39 3.17 5.59 3.80 0.97 2.20 4.98 5.43
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 1,533.46 0.00 166.05 0.00 0.00 51.10 40.42
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 390.39 0.00 0.00 57.23 42.44
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 67.44 42.67
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 29.49 6.03 37.47 170.01 101.65 247.30 42.80 33.95 31.81
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 5.78 22.67 0.00 0.00 0.00 0.00 57.39 52.21 40.50
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.31 0.21 0.84 0.70 0.67 0.36 0.23
Long-Term Debt to Equity		 0.00 0.00 0.00 0.31 0.21 0.84 0.70 0.67 0.36 0.05
Financial Leverage		 0.00 -5.95 -2.11 -1.47 -1.25 -1.23 -1.20 -1.33 -1.36 -1.23
Leverage Ratio		 0.00 13.05 3.24 2.29 2.36 2.72 3.28 3.25 2.55 1.94
Compound Leverage Factor		 0.00 42.70 12.74 4.10 5.71 7.20 1.84 3.68 2.50 1.96
Debt to Total Capital		 0.00% 0.00% 0.00% 23.39% 17.06% 45.67% 41.21% 40.20% 26.59% 18.50%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14.27%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 23.39% 17.06% 45.67% 41.21% 40.20% 26.59% 4.24%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 100.00% 100.00% 76.61% 82.94% 54.33% 58.79% 59.80% 73.41% 81.50%
Debt to EBITDA		 0.00 0.00 0.00 44.43 -3.17 8.06 -3.45 -10.28 1.31 0.82
Net Debt to EBITDA		 0.00 0.00 0.00 -188.00 18.94 -11.92 5.75 22.62 -4.63 -3.28
Long-Term Debt to EBITDA		 0.00 0.00 0.00 44.43 -3.17 8.06 -3.45 -10.28 1.31 0.19
Debt to NOPAT		 0.00 0.00 0.00 -12.17 -2.81 -138.76 -3.65 -5.43 1.73 0.87
Net Debt to NOPAT		 0.00 0.00 0.00 51.51 16.81 205.29 6.08 11.96 -6.11 -3.47
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -12.17 -2.81 -138.76 -3.65 -5.43 1.73 0.20
Altman Z-Score		 0.00 1.43 1.88 5.17 8.35 5.63 2.34 4.26 9.61 10.95
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.00 0.99 1.05 0.91 0.82 1.36 1.24 1.29 1.88 1.72
Quick Ratio		 0.00 0.98 1.03 0.89 0.76 1.28 1.15 1.24 1.85 1.69
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 1,097 105 -944 -134 -215 -645 561 1,549 2,704
Operating Cash Flow to CapEx		 0.00% 497.22% 275.20% 424.44% 332.05% 424.71% 184.00% 11,333.33% 13,535.29% 4,808.20%
Free Cash Flow to Firm to Interest Expense		 0.00 0.94 0.16 -2.53 -0.22 -2.09 -4.57 2.31 4.25 8.66
Operating Cash Flow to Interest Expense		 -0.30 0.18 0.59 1.72 0.51 3.97 0.35 3.09 6.54 11.03
Operating Cash Flow Less CapEx to Interest Expense		 1.43 0.15 0.38 1.32 0.35 3.03 0.16 3.06 6.49 10.80
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 1.32 1.38 1.42 1.43 1.38 1.54 1.68 1.50 1.34
Accounts Receivable Turnover		 0.00 11.36 13.52 16.70 18.91 17.24 17.41 17.37 18.57 23.19
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 61.04 39.35 27.50 27.16 27.24 31.63 45.40 69.35 97.15
Accounts Payable Turnover		 0.00 9.50 9.95 10.24 10.27 9.55 10.45 10.97 9.17 9.83
Days Sales Outstanding (DSO)		 0.00 32.13 26.99 21.85 19.30 21.18 20.96 21.01 19.65 15.74
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 38.40 36.67 35.63 35.55 38.21 34.92 33.26 39.79 37.12
Cash Conversion Cycle (CCC)		 0.00 -6.28 -9.68 -13.78 -16.25 -17.03 -13.96 -12.25 -20.14 -21.38
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 -1,415 -1,554 -668 -784 -584 -432 -1,339 -1,688 -1,826
Invested Capital Turnover		 0.00 -6.94 -4.05 -6.83 -13.26 -15.99 -24.69 -16.55 -10.72 -11.48
Increase / (Decrease) in Invested Capital		 0.00 -1,415 -139 886 -117 200 152 -906 -350 -138
Enterprise Value (EV)		 0.00 6,340 2,375 24,093 53,789 41,533 12,170 32,192 80,867 109,483
Market Capitalization		 9,246 9,246 6,326 27,047 58,000 44,516 15,170 36,322 88,198 118,374
Book Value per Share		 $0.00 $1.89 $13.53 $12.64 $18.59 $12.61 $13.37 $14.44 $29.01 $47.95
Tangible Book Value per Share		 $0.00 $0.60 $12.40 $9.31 $13.07 $6.76 $6.16 $7.45 $22.45 $41.48
Total Capital		 0.00 286 2,397 2,984 4,131 4,414 4,369 4,667 7,790 11,994
Total Debt		 0.00 0.00 0.00 698 705 2,016 1,800 1,876 2,071 2,219
Total Long-Term Debt		 0.00 0.00 0.00 698 705 2,016 1,800 1,876 2,071 508
Net Debt		 0.00 -2,906 -3,951 -2,954 -4,211 -2,982 -3,001 -4,129 -7,331 -8,891
Capital Expenditures (CapEx)		 -612 43 143 152 95 96 27 6.64 18 72
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -1,834 -1,956 -2,205 -2,786 -2,664 -2,689 -3,367 -3,643 -4,223
Debt-free Net Working Capital (DFNWC)		 0.00 -22 111 -233 -652 1,297 894 1,294 4,067 6,888
Net Working Capital (NWC)		 0.00 -22 111 -233 -652 1,297 894 1,294 4,067 5,177
Net Nonoperating Expense (NNE)		 310 1,166 55 151 459 24 -33 243 21 -30
Net Nonoperating Obligations (NNO)		 0.00 -1,701 -3,951 -2,954 -4,211 -2,982 -3,001 -4,129 -7,407 -11,601
Total Depreciation and Amortization (D&A)		 40 65 37 98 136 144 183 311 170 129
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -37.34% -32.50% -29.05% -28.95% -24.35% -21.44% -22.98% -22.45% -20.94%
Debt-free Net Working Capital to Revenue		 0.00% -0.44% 1.84% -3.08% -6.78% 11.85% 7.13% 8.83% 25.07% 34.15%
Net Working Capital to Revenue		 0.00% -0.44% 1.84% -3.08% -6.78% 11.85% 7.13% 8.83% 25.07% 25.67%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.44) ($1.03) ($3.10) ($0.18) ($2.23) ($2.73) $5.87 $12.64
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 177.15M 180.96M 187.58M 191.30M 192.93M 194.73M 200.62M 205.41M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.51) ($1.03) ($3.10) ($1.03) ($2.93) ($2.73) $5.69 $12.33
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 181.21M 180.96M 187.58M 193.94M 195.85M 194.73M 206.99M 210.51M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 180.86M 184.33M 190.21M 384.30M 193.29M 197.14M 203.84M 205.83M
Normalized Net Operating Profit after Tax (NOPAT)		 -257 -318 -34 -57 -251 74 -493 -345 1,199 2,566
Normalized NOPAT Margin		 -8.28% -6.47% -0.57% -0.76% -2.60% 0.68% -3.93% -2.36% 7.39% 12.72%
Pre Tax Income Margin		 -18.12% -30.15% -3.29% -1.94% -9.00% 2.58% -3.16% -3.81% 8.56% 12.94%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -1.04 -0.39 -0.08 -0.22 -0.57 1.03 -4.99 -2.03 3.88 8.26
NOPAT to Interest Expense		 -0.73 -0.27 -0.05 -0.15 -0.40 -0.14 -3.49 -1.42 3.29 8.22
EBIT Less CapEx to Interest Expense		 0.69 -0.42 -0.29 -0.62 -0.73 0.10 -5.18 -2.05 3.83 8.03
NOPAT Less CapEx to Interest Expense		 1.01 -0.31 -0.27 -0.56 -0.56 -1.08 -3.68 -1.45 3.24 7.99
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -92.31% -195.70% 0.00% -261.76% -0.47% 0.00% 0.00% 19.85%

Quarterly Metrics And Ratios for Spotify Technology

No quarterly metrics and ratios for Spotify Technology are available.


Financials Breakdown Chart

Key Financial Trends

Spotify Technology (SPOT) balance-sheet trends (FY2022–FY2024, latest as of 12/31/2024)

  • Cash & Equivalents rose to about $4.949B in 2024, up from $3.445B in 2023.
  • Short-Term Investments rose to about $2.761B in 2024, up from $1.217B in 2023.
  • Total Current Assets grew to about $8.673B in 2024, up from $5.822B in 2023.
  • Total Assets expanded to about $12.426B in 2024, up from $9.232B in 2023.
  • Long-Term Investments increased to about $1.692B in 2024, up from $1.343B in 2023.
  • Total Equity rose to about $5.719B in 2024, up from about $2.791B in 2023.
  • Other Equity Adjustments show a sizable line item of about $9.141B in 2024, suggesting a one-time accounting adjustment.
  • Total Current Liabilities increased modestly to about $4.606B in 2024 from $4.524B in 2023.
  • Total Liabilities increased to about $6.707B in 2024, up from about $6.441B in 2023.
  • Long-Term Debt rose to about $1.593B in 2024, up from about $1.331B in 2023.
  • Accounts Payable and other current obligations contributed to higher near-term liabilities (current liabilities rose as noted above).
05/11/26 10:29 PM ETAI Generated. May Contain Errors.

Spotify Technology Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Spotify Technology's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Spotify Technology's net income appears to be on a downward trend, with a most recent value of $2.60 billion in 2025, falling from -$567.03 million in 2016. The previous period was $1.18 billion in 2024. View Spotify Technology's forecast to see where analysts expect Spotify Technology to go next.

Spotify Technology's total operating income in 2025 was $2.58 billion, based on the following breakdown:
  • Total Gross Profit: $6.45 billion
  • Total Operating Expenses: $3.87 billion

Over the last 9 years, Spotify Technology's total revenue changed from $3.11 billion in 2016 to $20.17 billion in 2025, a change of 549.5%.

Spotify Technology's total liabilities were at $7.85 billion at the end of 2025, a 17.0% increase from 2024, and a 127.7% increase since 2017.

In the past 8 years, Spotify Technology's cash and equivalents has ranged from $572.99 million in 2017 to $6.17 billion in 2025, and is currently $6.17 billion as of their latest financial filing in 2025.

Over the last 9 years, Spotify Technology's book value per share changed from 0.00 in 2016 to 47.95 in 2025, a change of 4,795.3%.


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Financial statements for NYSE:SPOT last updated on 2/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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