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Spotify (SPOT)
NYSE:SPOT
US Market

Spotify (SPOT) Ratios

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Spotify Ratios

SPOT's free cash flow for Q4 2025 was €0.33. For the 2025 fiscal year, SPOT's free cash flow was decreased by € and operating cash flow was €0.23. See a summary of the company’s cash flow.
Ratios
TTM
Dec 25Dec 24Dec 23Dec 22
Liquidity Ratios
Current Ratio
1.72 1.72 1.88 1.29 1.24
Quick Ratio
1.72 1.72 1.88 1.29 1.24
Cash Ratio
0.86 0.86 1.07 0.76 0.71
Solvency Ratio
0.35 0.35 0.19 -0.06 -0.05
Operating Cash Flow Ratio
0.49 0.48 0.52 0.17 0.01
Short-Term Operating Cash Flow Coverage
2.04 2.01 0.00 0.00 0.00
Net Current Asset Value
€ 3.81B€ 3.81B€ 1.90B€ -565.14M€ -875.73M
Leverage Ratios
Debt-to-Assets Ratio
0.15 0.15 0.17 0.20 0.22
Debt-to-Equity Ratio
0.28 0.28 0.36 0.67 0.70
Debt-to-Capital Ratio
0.22 0.22 0.27 0.40 0.41
Long-Term Debt-to-Capital Ratio
0.05 0.05 0.22 0.32 0.32
Financial Leverage Ratio
1.80 1.80 2.17 3.31 3.18
Debt Service Coverage Ratio
1.58 1.58 35.97 -8.84 -5.32
Interest Coverage Ratio
70.90 70.90 37.92 -11.74 -16.07
Debt to Market Cap
0.02 0.02 0.02 0.04 0.08
Interest Debt Per Share
11.44 11.46 10.15 8.94 8.86
Net Debt to EBITDA
-1.24 -1.24 -1.86 4.61 5.02
Profitability Margins
Gross Profit Margin
31.98%31.98%30.14%25.64%24.95%
EBIT Margin
13.12%13.12%8.79%-3.53%-2.81%
EBITDA Margin
13.71%13.71%9.56%-2.33%-1.35%
Operating Profit Margin
12.79%12.79%8.71%-3.37%-5.62%
Pretax Profit Margin
12.94%12.94%8.56%-3.81%-3.16%
Net Profit Margin
12.87%12.87%7.26%-4.02%-3.67%
Continuous Operations Profit Margin
12.87%12.87%7.26%-4.02%-3.67%
Net Income Per EBT
99.46%99.46%84.86%105.35%116.22%
EBT Per EBIT
101.18%101.18%98.24%113.23%56.15%
Return on Assets (ROA)
14.74%14.74%9.48%-6.35%-5.68%
Return on Equity (ROE)
30.51%26.57%20.60%-21.01%-18.06%
Return on Capital Employed (ROCE)
24.62%24.62%18.07%-10.44%-16.13%
Return on Invested Capital (ROIC)
21.05%21.05%15.33%-10.44%-16.13%
Return on Tangible Assets
15.93%15.93%10.58%-7.44%-6.84%
Earnings Yield
2.36%2.18%1.31%-1.61%-3.02%
Efficiency Ratios
Receivables Turnover
18.73 18.73 19.62 15.03 17.01
Payables Turnover
9.79 9.79 11.74 14.82 15.09
Inventory Turnover
0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
40.74 40.74 37.86 24.13 15.46
Asset Turnover
1.15 1.15 1.31 1.58 1.55
Working Capital Turnover Ratio
4.17 4.12 6.14 13.22 11.85
Cash Conversion Cycle
-17.78 -17.78 -12.50 -0.34 -2.73
Days of Sales Outstanding
19.49 19.49 18.61 24.28 21.45
Days of Inventory Outstanding
0.00 0.00 0.00 0.00 0.00
Days of Payables Outstanding
37.26 37.26 31.10 24.62 24.19
Operating Cycle
19.49 19.49 18.61 24.28 21.45
Cash Flow Ratios
Operating Cash Flow Per Share
14.43 14.28 11.47 3.49 0.24
Free Cash Flow Per Share
14.13 13.98 11.38 3.46 0.11
CapEx Per Share
0.30 0.30 0.08 0.03 0.13
Free Cash Flow to Operating Cash Flow
0.98 0.98 0.99 0.99 0.46
Dividend Paid and CapEx Coverage Ratio
48.39 48.08 135.35 113.33 1.84
Capital Expenditure Coverage Ratio
48.39 48.08 135.35 113.33 1.84
Operating Cash Flow Coverage Ratio
1.28 1.26 1.15 0.40 0.03
Operating Cash Flow to Sales Ratio
0.17 0.17 0.15 0.05 <0.01
Free Cash Flow Yield
3.10%2.83%2.64%2.04%0.15%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
42.37 45.90 76.17 -62.23 -33.08
Price-to-Sales (P/S) Ratio
5.46 5.91 5.53 2.50 1.21
Price-to-Book (P/B) Ratio
11.26 12.19 15.69 13.07 5.97
Price-to-Free Cash Flow (P/FCF) Ratio
32.26 35.35 37.95 49.12 677.40
Price-to-Operating Cash Flow Ratio
31.57 34.61 37.67 48.68 309.25
Price-to-Earnings Growth (PEG) Ratio
0.74 0.51 -0.25 -2.78 -0.03
Price-to-Fair Value
11.26 12.19 15.69 13.07 5.97
Enterprise Value Multiple
38.55 41.83 56.01 -102.53 -85.01
Enterprise Value
90.91B 98.59B 83.90B 31.68B 13.43B
EV to EBITDA
38.57 41.83 56.01 -102.53 -85.01
EV to Sales
5.29 5.74 5.35 2.39 1.15
EV to Free Cash Flow
31.27 34.33 36.73 47.01 639.62
EV to Operating Cash Flow
30.62 33.61 36.46 46.59 292.00
Tangible Book Value Per Share
35.01 35.08 21.31 6.71 5.69
Shareholders’ Equity Per Share
40.46 40.53 27.54 13.01 12.34
Tax and Other Ratios
Effective Tax Rate
<0.01 <0.01 0.15 -0.05 -0.16
Revenue Per Share
83.52 83.67 78.12 68.03 60.78
Net Income Per Share
10.75 10.77 5.67 -2.73 -2.23
Tax Burden
0.99 0.99 0.85 1.05 1.16
Interest Burden
0.99 0.99 0.97 1.08 1.12
Research & Development to Revenue
0.08 0.08 0.09 0.13 0.12
SG&A to Revenue
0.03 0.03 0.03 0.00 0.00
Stock-Based Compensation to Revenue
<0.01 0.01 0.02 0.02 0.03
Income Quality
1.35 1.33 2.02 -1.28 -0.11
Currency in EUR