MARKETS / NYSE / SPOT
NYSE · RADIO BROADCASTING STATIONS · LARGE CAP

Spotify Technology S.a. SPOT

10 fiscal years on record · EUR · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
€17.2B
▲ 9.7% vs FY2024
EPS · FY25
€10.51
Dividend / sh · FY25
Payout · FY25
ROE · FY25
31.9%
Net margin · FY25
12.9%
Dividend coverage
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Result
EUR 17.2B
Revenue, FY2025 · full 10-year series below
Revenue Net income
510152017.22.22016201920222025
510152017.22.22016201920222025

13 cents of every revenue dollar became profit this year.

Per share
EUR 10.51
Diluted EPS, FY2025
EPS
481210.512016201920222025
481210.512016201920222025

The company pays no cash dividend.

Profitability
31.9%
Return on equity, FY2025
ROE
816243231.9%2016201920222025
816243231.9%2016201920222025
Operating margin12.8%
Net margin12.9%
Return on assets16.4%

Each EUR of equity produced 32 cents of profit this year.

Returned to shareholders
EUR 439.0M
returned in FY2025 · dividends + net buybacks
Dividends paid
Net buybacksEUR 439.0M
Share of profit19.8%
Consecutive raises

EUR 439.0M in buybacks — 20% of the year's profit went back to shareholders.

Growth
+16.9% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+13.6%
+16.9%
Returned to shareholders
+503.2%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
Shares outstanding, FY2025
0.190.202016201920222025
0.190.202016201920222025
Change, 5 years
Change, 10 years

A share split breaks the comparison across the period, so we leave it out.

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Balance sheet
EUR 15.0B
total assets, end of FY2025
Total assetsEUR 15.0B
EquityEUR 8.3B
CashEUR 5.3B
Current ratio1.72×

Equity funds 55% of total assets.

History
10 fiscal years
Every figure from documents filed with the SEC · EUR
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue €B
17.2
15.7
13.2
11.7
9.7
7.9
6.8
5.3
4.1
3.0
Operating income €B
2.2
1.4
−0.4
−0.7
0.1
−0.3
−0.1
−0.0
−0.4
−0.3
EBITDA €B
·
·
·
·
·
·
·
·
·
·
Income tax €B
0.0
0.2
0.0
0.1
0.3
−0.1
0.1
−0.1
0.0
0.0
Net income €B
2.2
1.1
−0.5
−0.4
−0.0
−0.6
−0.2
−0.1
−1.2
−0.5
EPS, diluted €
10.51
5.50
−2.73
−2.93
−1.03
−3.10
−1.03
−0.51
−8.14
−3.63
Dividend / sh €
·
·
·
·
·
·
·
·
·
·
Payout %
·
·
·
·
−0
·
·
·
·
·
ROE %
31.9
28.3
−21.6
−19.0
−1.4
−24.0
−9.0
−6.7
·
·
Shares out B
·
·
0.20
0.19
·
·
·
·
·
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
38 of 38
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed