TTM
17.0%
YoY change
+4.16pp
Trough year (2017)
-28.7%
Peak year (2025)
13.7%
Latest annual
13.7%
EBITDA Margin history chart for Spotify (SPOT) from 2015 to 2025
Latest: 13.7%
EBITDA Margin change chart for Spotify (SPOT) from 2015 to 2025
Latest: +4.16pp
EBITDA Margin history table for Spotify (SPOT) from 2015 to 2025
| 2025 | 13.7% | +4.16pp | ||
| 2024 | 9.6% | +11.89pp | ||
| 2023 | -2.3% | -0.99pp | ||
| 2022 | -1.3% | -5.65pp | ||
| 2021 | 4.3% | +11.21pp | ||
| 2020 | -6.9% | -6.89pp | ||
| 2019 | -0.0% | +2.55pp | ||
| 2018 | -2.6% | +26.16pp | ||
| 2017 | -28.7% | -12.06pp | ||
| 2016 | -16.7% | -6.67pp | ||
| 2015 | -10.0% | — |
- 202513.7%+4.16pp
- 20249.6%+11.89pp
- 2023-2.3%-0.99pp
- 2022-1.3%-5.65pp
- 20214.3%+11.21pp
- 2020-6.9%-6.89pp
- 2019-0.0%+2.55pp
- 2018-2.6%+26.16pp
- 2017-28.7%-12.06pp
- 2016-16.7%-6.67pp
- 2015-10.0%—
EBITDA Margin values are taken from Spotify's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in EUR as filed.
About EBITDA Margin at Spotify (SPOT)
According to Spotify's latest reported financial statements, the company's latest reported EBITDA margin is 17.0%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Spotify (SPOT) most recent annual EBITDA margin stands at 13.71% (2025) – expanded 4.2 percentage points year-over-year.
Across the available history, EBITDA margin reached its high of 13.71% in 2025 and its low of -28.73% in 2017.
Spotify EBITDA Margin by Year
Spotify EBITDA Margin 2025: 13.7%
In 2025, Spotify reported EBITDA margin of 13.71%, expanded 4.2 percentage points from 2024. This figure represents the highest annual value in the available history.
Spotify EBITDA Margin 2024: 9.6%
Spotify EBITDA margin in 2024 was 9.56%, expanded 11.9 percentage points from 2023.
Spotify EBITDA Margin 2023: -2.3%
2023's EBITDA margin for Spotify came in at -2.33%, contracted 1.0 percentage points from 2022.
Spotify EBITDA Margin 2022: -1.3%
Spotify posted EBITDA margin of -1.35% in 2022, contracted 5.7 percentage points from 2021.
Spotify EBITDA Margin 2021: 4.3%
Spotify EBITDA margin in 2021 was 4.30%.
See more financial history for Spotify (SPOT).
Sector peers by EBITDA Margin
Communication Services peers of Spotify (SPOT), ranked by their latest EBITDA margin
| 72.7% | |
| 52.8% | |
| 51.8% | |
| 42.3% | |
| 35.7% | |
| 35.0% | |
| 31.1% | |
| 21.3% |
- 72.7%
- 52.8%
- 51.8%
- 42.3%
- 35.7%
- 35.0%
- 31.1%
- 21.3%
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