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Spotify Technology SPOT

$506.26
−$4.14 (-0.81%)
Market open · Sep 24, 2:00 pm ET
After hours $510.50 +0.02%
Open$507.39
Prev close$510.40
Day range$503.17 – $512.46
Volume478.1K
Market cap$104.08B
P/E (TTM)28.0
Dividend yield–

Fundamentals

Latest reported quarter: Q2, ended Jun 2026 · reported in EUR

Revenue€4.78B+13.9% YoY
Operating profit€655.00M+61.3% YoY
Net profit€545.00M+733.7% YoY
Diluted EPS€2.61+721.4% YoY
Free cash flow€796.00M+13.9% YoY
Operating cash flow€816.00M

Revenue, last 8 quarters

€4.0BSep '24€4.2BDec '24€4.2BMar '25€4.2BJun '25€4.3BSep '25€4.5BDec '25€4.5BMar '26€4.8BJun '26

Net profit, last 8 quarters

€300.0MSep '24€367.0MDec '24€225.0MMar '25€-86.0MJun '25€899.0MSep '25€1.2BDec '25€721.0MMar '26€545.0MJun '26

Diluted EPS by quarter

1.45Sep '241.76Dec '241.07Mar '25-0.42Jun '253.28Sep '254.43Dec '253.45Mar '262.61Jun '26

Free cash flow by quarter

€711.0MSep '24€877.0MDec '24€533.0MMar '25€699.0MJun '25€806.0MSep '25€834.0MDec '25€831.0MMar '26€796.0MJun '26

Annual revenue

€7.9BFY20€9.7BFY21€11.7BFY22€13.2BFY23€15.7BFY24€17.2BFY25

Profitability & balance sheet

Gross margin32.8%
Operating margin14.6%
Net margin18.4%
Return on equity44.5%
Return on assets24.5%
Return on invested capital35.4%
Current ratio2.11
Liabilities / assets39.0%
Cash & investments€9.39B
Total debt€404.00M
Net cash (debt)€8.98B
Free cash flow / sales18.0%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Premium€4.33B 90.7%
  • Ad-Supported€446.00M 9.3%

This company reports in its own local currency, not U.S. dollars. Every figure below is labeled with its real currency, not automatically converted.

Income statement

Line item 2026 Q2
(EUR)
2026 Q1
(EUR)
2025 ANNUAL
(EUR)
2025 Q4
(EUR)
2025 Q3
(EUR)
Total Revenue as Reported €4.78B €4.53B €17.19B €4.53B €4.27B
Total Operating Revenue €4.78B €4.53B €17.19B €4.53B €4.27B
Cost of Revenue €3.18B €3.04B €11.69B €3.03B €2.92B
Gross Profit €1.60B €1.50B €5.50B €1.50B €1.35B
Operating Expense €941.00M €780.00M €3.30B €798.00M €769.00M
Selling and Admin Expenses €538.00M €449.00M €1.91B €508.00M €460.00M
-Selling & Marketing Expense €390.00M €342.00M €1.43B €399.00M €349.00M
-General & Admin Expense €148.00M €107.00M €479.00M €109.00M €111.00M
Research & Development €403.00M €331.00M €1.39B €290.00M €309.00M
Operating Profit €655.00M €715.00M €2.20B €701.00M €582.00M
Net Non-Operating Interest Income (Expense) €49.00M €56.00M €226.00M €57.00M €56.00M
Non-Operating Interest Income €48.00M €54.00M €245.00M €58.00M €59.00M
Non-Operating Interest Expense €8.00M €7.00M €31.00M €7.00M €8.00M
Total Other Finance Costs -€9.00M -€9.00M -€12.00M -€6.00M -€5.00M
Other Income (Expense) €16.00M €166.00M -€200.00M €263.00M €189.00M
Gain on Sale of Security €16.00M €166.00M -€200.00M €263.00M €189.00M
Pretax Profit €720.00M €937.00M €2.22B €1.02B €827.00M
Tax €175.00M €216.00M €12.00M -€153.00M -€72.00M
Net Profit €545.00M €721.00M €2.21B €1.17B €899.00M
Profit from Continuing Operations €545.00M €721.00M €2.21B €1.17B €899.00M
Net Income to Parent Company €545.00M €721.00M €2.21B €1.17B €899.00M
Net Income to Common Stockholders €545.00M €721.00M €2.21B €1.17B €899.00M
Basic EPS €2.65 €3.50 €10.77 €5.71 €4.36
Diluted EPS €2.61 €3.45 €10.51 €4.43 €3.28

Balance sheet

Line item 2026 Q2
(EUR)
2026 Q1
(EUR)
2025 ANNUAL
(EUR)
2025 Q4
(EUR)
2025 Q3
(EUR)
Total Assets €13.75B €13.13B €15.02B €15.02B €14.69B
Total Current Assets €10.38B €9.66B €10.50B €10.50B €10.06B
Cash and Cash Equivalents & Short-Term Investments €9.39B €8.75B €9.47B €9.47B €9.06B
-Cash and Cash Equivalents €5.94B €5.26B €5.26B €5.26B €5.46B
-Short Term Investments €3.45B €3.49B €4.21B €4.21B €3.61B
Receivables €872.00M €777.00M €918.00M €918.00M €852.00M
-Accounts Receivable €543.00M €463.00M €536.00M €536.00M €511.00M
-Taxes Receivable €92.00M €94.00M €116.00M €116.00M €117.00M
-Other Receivables €237.00M €220.00M €266.00M €266.00M €224.00M
Other Current Assets €103.00M €126.00M €103.00M €103.00M €120.00M
Total Non-Current Assets €3.37B €3.47B €4.52B €4.52B €4.63B
Net PPE €418.00M €409.00M €422.00M €422.00M €416.00M
-Gross PPE €1.05B €1.06B €1.06B €1.06B €1.04B
-Accumulated Depreciation -€631.00M -€649.00M -€641.00M -€641.00M -€626.00M
Investments and Advances €1.12B €1.19B €2.18B €2.18B €2.89B
Non Current Accounts Receivables €71.00M €71.00M €69.00M €69.00M €69.00M
Goodwill and Other Intangible Assets €1.15B €1.14B €1.12B €1.12B €1.11B
-Goodwill €1.11B €1.10B €1.08B €1.08B €1.08B
-Other Intangible Assets €36.00M €41.00M €41.00M €41.00M €33.00M
Non-Current Deferred Assets €563.00M €596.00M €662.00M €662.00M €87.00M
Other Non-Current Assets €56.00M €59.00M €61.00M €61.00M €61.00M
Total Liabilities €5.36B €5.12B €6.69B €6.69B €6.91B
Total Current Liabilities €4.91B €4.69B €6.09B €6.09B €6.24B
Payables €1.46B €1.37B €1.24B €1.24B €1.19B
-Accounts Payable €888.00M €821.00M €783.00M €783.00M €802.00M
-Total Tax Payable €572.00M €545.00M €452.00M €452.00M €388.00M
Current Accrued Expenses €2.51B €2.41B €2.52B €2.52B €2.46B
Short-Term Debt and Capital Lease Obligation €62.00M €62.00M €1.52B €1.52B €1.80B
-Current Capital Lease Obligation €62.00M €62.00M €65.00M €65.00M €61.00M
Current Provisions €45.00M €49.00M €51.00M €51.00M €50.00M
Current Deferred Liabilities €778.00M €750.00M €711.00M €711.00M €692.00M
Other Current Liabilities €58.00M €52.00M €41.00M €41.00M €47.00M
Total Non-Current Liabilities €449.00M €430.00M €601.00M €601.00M €671.00M
Non-Current Accrued Expenses €2.00M €2.00M €2.00M €2.00M €1.00M
Long Term Debt and Capital Lease Obligation €404.00M €414.00M €433.00M €433.00M €444.00M
-Long Term Capital Lease Obligation €404.00M €414.00M €433.00M €433.00M €444.00M
Non-Current Liabilities €13.00M €3.00M €3.00M €3.00M €3.00M
Non-Current Deferred Liabilities €30.00M €11.00M €163.00M €163.00M €223.00M
Total Equity €8.39B €8.01B €8.33B €8.33B €7.78B
Stockholders' Equity €8.39B €8.01B €8.33B €8.33B €7.78B
Capital Stock €0.00 €0.00 €0.00 €0.00 €0.00
-Common Stock €0.00 €0.00 €0.00 €0.00 €0.00
Additional Paid-In Capital €6.62B €6.56B €6.50B €6.50B €6.46B
Retained Earnings €421.00M -€124.00M -€832.00M -€832.00M -€2.01B
Less: Treasury Stock €1.25B €1.01B €701.00M €701.00M €328.00M
Gains/Losses Not Affecting Retained Earnings €2.59B €2.58B €3.37B €3.37B €3.65B
-Current Debt – – €1.46B €1.46B €1.74B

Cash flow

Line item 2026 Q2
(EUR)
2026 Q1
(EUR)
2025 ANNUAL
(EUR)
2025 Q4
(EUR)
2025 Q3
(EUR)
Operating Cash Flow €816.00M €836.00M €2.93B €856.00M €829.00M
Net cash flow from continuing operations €816.00M €836.00M €2.93B €856.00M €829.00M
Net Income from Continuing Operations €545.00M €721.00M €2.21B €1.17B €899.00M
Depreciation & Depletion & Amortization €29.00M €26.00M €102.00M €25.00M €24.00M
Deferred Tax €175.00M €216.00M €12.00M -€153.00M -€72.00M
Other Non-Cash Items €118.00M -€224.00M -€93.00M -€534.00M -€55.00M
Change in Working Capital €89.00M €29.00M €248.00M €24.00M €101.00M
-Change in Receivables -€80.00M €91.00M -€115.00M -€66.00M -€26.00M
-Change in Payables and Accrued Expense €150.00M -€94.00M €281.00M €70.00M €100.00M
-Change In Other Working Capital €19.00M €32.00M €82.00M €20.00M €27.00M
Net cash flow from investing €62.00M €732.00M -€1.79B -€629.00M -€438.00M
Net Cash Flow from Continuing Investing Activities €62.00M €732.00M -€1.79B -€629.00M -€438.00M
Net PPE Purchase and Sale -€20.00M -€5.00M -€61.00M -€22.00M -€23.00M
Net Business Purchase and Sale €0.00 €0.00 -€18.00M -€9.00M €0.00
Net Investment Purchase and Sale €50.00M €744.00M -€1.73B -€598.00M -€414.00M
Net Other Investing Changes €3.00M -€7.00M -€3.00M €0.00 -€2.00M
Financing Cash Flow -€218.00M -€1.61B -€381.00M -€418.00M -€100.00M
Net Cash Flow from Continuing Financing Activities -€218.00M -€1.61B -€381.00M -€418.00M -€100.00M
Net Issuance Payments Of Debt -€16.00M -€20.00M -€73.00M -€14.00M -€15.00M
Net Common Stock Issuance -€232.00M -€306.00M -€439.00M -€381.00M -€58.00M
Proceeds from Stock Option Exercised €64.00M €64.00M €372.00M €37.00M €39.00M
Net Other Financing Charges -€34.00M -€1.35B -€241.00M -€60.00M -€66.00M
Ending Cash Balance €5.94B €5.26B €5.26B €5.26B €5.46B
Net Change in Cash €660.00M -€43.00M €767.00M -€191.00M €291.00M
Beginning Cash Balance €5.26B €5.26B €4.78B €5.46B €5.16B
Effect of Exchange Rate Changes €23.00M €40.00M -€290.00M -€7.00M €4.00M
Free Cash Flow €796.00M €831.00M €2.87B €834.00M €806.00M
Gain/Loss from Continuing Operations – – €77.00M €215.00M -€189.00M
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