Question 1

What is Spotify's P/E ratio?

Accepted Answer

Spotify (SPOT) P/E ratio is 32.9× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Spotify?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Spotify specifically, the relevant sector benchmark is the current sector median of 24.9×.

Question 5

Is Spotify's P/E ratio high or low?

Accepted Answer

Spotify's P/E ratio of 32.9× is below its own 5-year average of 122.0× and above the sector median of 24.9×. That places the current reading at the 4th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Spotify's historical P/E ratio range?

Accepted Answer

In the available daily series, Spotify (SPOT) P/E ratio has ranged from a low of 27.6× in 2026 to a high of 388.4× in 2022. The 5-year average is 122.0× and the 5-year median is 90.9×.

Question 7

What was Spotify's P/E ratio in 2025?

Accepted Answer

Spotify (SPOT) P/E ratio at the end of 2025 was 46.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Spotify's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$119.46B	$2.56B	46.7×	-27.1×	Dec 31, 2025
2024	$90.77B	$1.23B	73.8×	—	Dec 31, 2024
2023	$36.78B	−$574.85M	—	—	Dec 31, 2023
2022	$15.25B	−$429.12M	—	—	Dec 31, 2022
2021	$44.97B	−$38.62M	—	—	Dec 31, 2021
2020	$59.71B	−$658.05M	—	—	Dec 31, 2020
2019	$27.38B	−$210.09M	—	—	Dec 31, 2019
2018	$20.51B	−$122.92M	—	—	Dec 31, 2018
2017	$26.54B	−$1.42B	—	—	Dec 31, 2017
2016	$22.29B	−$600.71M	—	—	Dec 31, 2016


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Trade Desk (TTD)	24.9×
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Meta (META)	20.5×
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John Wiley & Sons (WLY)	10.6×
AT&T (T)	9.5×
Comcast (CMCSA)	5.5×
Charter Communications (CHTR)	5.5×

P/E Ratio for Spotify (SPOT)

P/E Ratio daily chart for Spotify (SPOT)

Historical P/E Ratio for Spotify (SPOT) from 2016 to 2025

About P/E Ratio at Spotify (SPOT)

Spotify P/E Ratio by Year

Spotify P/E Ratio 2025: 46.7×

Spotify P/E Ratio 2024: 73.8×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Spotify (SPOT) Key Financials

P/E Ratio daily chart for Spotify (SPOT)

Historical P/E Ratio for Spotify (SPOT) from 2016 to 2025

About P/E Ratio at Spotify (SPOT)

Spotify P/E Ratio by Year

Spotify P/E Ratio 2025: 46.7×

Spotify P/E Ratio 2024: 73.8×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Spotify's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Spotify?

+Is Spotify's P/E ratio high or low?

+What is Spotify's historical P/E ratio range?

+What was Spotify's P/E ratio in 2025?

+Why does Spotify's P/E ratio change over time?

Spotify (SPOT) Key Financials