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Spotify Technology SPOT · USD

Communication Services · US listing · 🇺🇸 United States

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609.10

+1.01%

Close of 9 Nov 2026, in USD

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in EUR, from our data supplier.

FY2025

Revenue

€19.83bn

FY2016FY2025

Net income

€2.55bn

FY2016FY2025

Free cash flow

€3.31bn

FY2016FY2025

Shareholders' equity

€9.61bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue€19.83bn€18.09bn€15.29bn€13.53bn€11.16bn€9.09bn€7.81bn€6.07bn€4.72bn€3.41bn
Gross profit€6.34bn€5.45bn€3.92bn€3.38bn€2.99bn€2.33bn€1.99bn€1.56bn€979.8m€462.8m
Research and development€1.61bn€1.71bn€1.99bn€1.60bn€1.05bn€966.0m€709.8m€569.0m€457.0m€238.9m
Operating income€2.54bn€1.58bn−€514.7m−€760.6m€108.5m−€338.2m−€84.2m−€49.6m−€436.2m−€611.7m
Net income€2.55bn€1.31bn−€614.0m−€496.3m−€39.2m−€670.5m−€214.7m−€90.0m−€1.43bn−€622.1m
Diluted earnings per share12.016.28-3.13-2.57-0.20-3.53-1.17-0.47-8.00-4.15

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assets€17.32bn€13.85bn€9.67bn€8.74bn€8.27bn€7.30bn€5.91bn€5.00bn€3.59bn€2.44bn
Cash and short-term investments€10.92bn€8.60bn€4.88bn€3.83bn€4.04bn€2.02bn€2.03bn€2.08bn€1.74bn€1.84bn
Total liabilities€7.71bn€7.48bn€6.75bn€5.99bn€5.83bn€4.06bn€3.56bn€2.59bn€2.22bn€2.71bn
Debt€1.96bn€2.00bn€1.70bn€1.68bn€1.78bn€577.0m€629.0m—€945.0m€1.11bn
Shareholders' equity€9.61bn€6.38bn€2.92bn€2.75bn€2.45bn€3.24bn€2.35bn€2.42bn€1.36bn−€278.4m
Shares outstanding212m209m196m193m192m190m183m191m178m150m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operations€3.38bn€2.66bn€784.8m€53.1m€416.6m€298.9m€661.3m€397.0m€206.6m€116.6m
Capital spending−€70.4m−€19.6m−€6.9m−€28.9m−€98.1m−€90.0m−€155.8m−€144.3m−€53.1m−€31.2m
Free cash flow€3.31bn€2.64bn€777.9m€24.2m€318.5m€208.9m€505.5m€252.7m€153.5m€85.4m
Dividends paid———−€48.7m−€237.6m−€34.6m−€279.6m———

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
Revenue€6.30bn€5.23bn€5.23bn€4.93bn€4.19bn€4.19bn€4.90bn€3.99bn
Gross profit€2.11bn€1.73bn€1.73bn€1.56bn€1.32bn€1.33bn€1.58bn€1.24bn
Operating income€864.1m€825.2m€809.0m€671.7m€406.0m€509.0m€550.5m€454.0m
Net income€719.0m€832.1m€1.35bn€1.04bn−€86.0m€225.0m€423.6m€300.0m
Diluted earnings per share3.443.986.384.88-0.401.062.031.44
Cash from operations€1.08bn€980.0m€987.0m€956.0m€709.0m€622.0m€1.02bn€825.0m
Capital spending−€26.0m−€5.0m−€25.0m−€26.0m−€10.0m−€6.0m−€6.0m−€4.0m
Free cash flow€1.05bn€975.0m€962.0m€930.0m€699.0m€616.0m€1.01bn€821.0m
Total assets€18.14bn€15.17bn€17.32bn€17.01bn€13.49bn€14.61bn€13.85bn€12.17bn
Cash and short-term investments€12.38bn€10.10bn€10.92bn€10.49bn€8.36bn€9.11bn€8.60bn€7.01bn
Debt€81.8m€71.6m€2.18bn€2.59bn€2.39bn€2.42bn€2.31bn€2.06bn
Shareholders' equity€11.06bn€9.25bn€9.61bn€9.01bn€6.64bn€7.20bn€6.38bn€5.34bn

Growth per year

Compound annual rate

3 years5 years10 years
Revenue13.6%16.9%24.4%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin31.1%28.6%28.1%26.7%
Operating margin10.8%4.3%3.0%1.0%
Net margin10.2%4.1%2.4%-0.5%

Valuation history

At each fiscal year end

FY2025
Price to earnings48.3
Price to sales6.2

Market value over time

30 Apr 2018 to 11 Sept 2026, in EUR

€27.16bn€109.81bn

Share price return

Finished calendar years

2025
Return23%

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.