Spotify Technology SA (SPOT) - Net Assets
Based on the latest financial reports, Spotify Technology SA (SPOT) has net assets worth $8.33 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($15.01 Billion) and total liabilities ($6.68 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check SPOT asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $8.33 Billion |
| % of Total Assets | 55.49% |
| Annual Growth Rate | 43.24% |
| 5-Year Change | 293.04% |
| 10-Year Change | N/A |
| Growth Volatility | 85.85 |
Spotify Technology SA - Net Assets Trend (2015–2025)
This chart illustrates how Spotify Technology SA's net assets have evolved over time, based on quarterly financial data. Also explore Spotify Technology SA assets under control for the complete picture of this company's asset base.
Annual Net Assets for Spotify Technology SA (2015–2025)
The table below shows the annual net assets of Spotify Technology SA from 2015 to 2025. For live valuation and market cap data, see SPOT stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $8.33 Billion | +50.74% |
| 2024-12-31 | $5.52 Billion | +118.15% |
| 2023-12-31 | $2.53 Billion | +6.36% |
| 2022-12-31 | $2.38 Billion | +12.37% |
| 2021-12-31 | $2.12 Billion | -24.46% |
| 2020-12-31 | $2.81 Billion | +37.70% |
| 2019-12-31 | $2.04 Billion | -2.72% |
| 2018-12-31 | $2.09 Billion | +77.16% |
| 2017-12-31 | $1.18 Billion | +590.01% |
| 2016-12-31 | $-241.22 Million | -205.33% |
| 2015-12-31 | $229.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Spotify Technology SA's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 17864589500.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $130.90K | 0.00% |
| Other Components | $9.16 Billion | 109.99% |
| Total Equity | $8.33 Billion | 100.00% |
Spotify Technology SA Competitors by Market Cap
The table below lists competitors of Spotify Technology SA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
MercadoLibre Inc.
NASDAQ:MELI
|
$90.91 Billion |
|
CHRISTIAN DIOR ADR1/4/EO2
F:DIO0
|
$91.96 Billion |
|
KKR & Co LP
NYSE:KKR
|
$92.43 Billion |
|
Sandisk Corp
NASDAQ:SNDK
|
$92.46 Billion |
|
Agnico Eagle Mines Limited
TO:AEM
|
$90.48 Billion |
|
Compagnie Financière Richemont SA
JSE:CFR
|
$89.87 Billion |
|
Vertiv Holdings Co
NYSE:VRT
|
$89.72 Billion |
|
Marsh & McLennan Companies Inc
NYSE:MMC
|
$89.51 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Spotify Technology SA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,524,902,483 to 8,325,455,135, a change of 2,800,552,652 (50.7%).
- Net income of 2,212,000,000 contributed positively to equity growth.
- Share repurchases of 439,000,000 reduced equity.
- Other comprehensive income decreased equity by 2,706,952,221.
- Other factors increased equity by 3,734,504,873.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.21 Billion | +26.57% |
| Share Repurchases | $439.00 Million | -5.27% |
| Other Comprehensive Income | $-2.71 Billion | -32.51% |
| Other Changes | $3.73 Billion | +44.86% |
| Total Change | $- | 50.69% |
Book Value vs Market Value Analysis
This analysis compares Spotify Technology SA's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 11.16x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 323.48x to 11.16x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | $1.36 | $441.51 | x |
| 2016-12-31 | $-1.44 | $441.51 | x |
| 2017-12-31 | $6.64 | $441.51 | x |
| 2018-12-31 | $11.56 | $441.51 | x |
| 2019-12-31 | $11.26 | $441.51 | x |
| 2020-12-31 | $14.95 | $441.51 | x |
| 2021-12-31 | $10.93 | $441.51 | x |
| 2022-12-31 | $12.16 | $441.51 | x |
| 2023-12-31 | $13.01 | $441.51 | x |
| 2024-12-31 | $26.69 | $441.51 | x |
| 2025-12-31 | $39.55 | $441.51 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Spotify Technology SA utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 26.57%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.87%
- • Asset Turnover: 1.15x
- • Equity Multiplier: 1.80x
- Recent ROE (26.57%) is above the historical average (-21.09%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | -100.44% | -11.86% | 1.85x | 4.59x | $-252.90 Million |
| 2016 | 0.00% | -18.26% | 1.40x | 0.00x | $-514.88 Million |
| 2017 | -104.48% | -30.20% | 1.32x | 2.63x | $-1.35 Billion |
| 2018 | -3.72% | -1.48% | 1.21x | 2.07x | $-287.40 Million |
| 2019 | -9.13% | -2.75% | 1.32x | 2.51x | $-389.70 Million |
| 2020 | -20.71% | -7.37% | 1.25x | 2.26x | $-861.50 Million |
| 2021 | -1.60% | -0.35% | 1.35x | 3.38x | $-245.90 Million |
| 2022 | -18.06% | -3.67% | 1.55x | 3.18x | $-668.12 Million |
| 2023 | -21.01% | -4.02% | 1.58x | 3.31x | $-785.26 Million |
| 2024 | 20.60% | 7.26% | 1.31x | 2.17x | $585.51 Million |
| 2025 | 26.57% | 12.87% | 1.15x | 1.80x | $1.38 Billion |
Industry Comparison
This section compares Spotify Technology SA's net assets metrics with peer companies in the Internet Content & Information industry.
Industry Context
- Industry: Internet Content & Information
- Average net assets among peers: $4,720,440,688
- Average return on equity (ROE) among peers: -6.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Spotify Technology SA (SPOT) | $8.33 Billion | -100.44% | 0.80x | $90.90 Billion |
| Calibre (ALWIN) | $9.89 Million | -68.49% | 2.74x | $11.23 Million |
| ANGI Homeservices Inc (ANGI) | $-22.17 Million | 0.00% | 0.00x | $306.40 Million |
| Arena Group Holdings Inc (AREN) | $-52.15 Million | 0.00% | 0.00x | $123.41 Million |
| Autohome Inc (ATHM) | $7.12 Billion | 13.92% | 0.06x | $2.20 Billion |
| Baidu Inc (BIDU) | $8.41 Billion | 41.94% | 0.31x | $35.02 Billion |
| Bilibili Inc (BILI) | $15.24 Billion | -49.26% | 1.74x | $7.20 Billion |
| Bumble Inc (BMBL) | $1.35 Billion | -41.29% | 0.87x | $540.03 Million |
| The Beachbody Company, Inc. (BODI) | $87.40 Million | 36.95% | 2.33x | $62.80 Million |
| Kanzhun Ltd ADR (BZ) | $14.96 Billion | 10.59% | 0.29x | $5.37 Billion |
| BuzzFeed Inc (BZFD) | $106.94 Million | -9.44% | 1.07x | $28.12 Million |
About Spotify Technology SA
Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates in two segments, Premium and Ad-Supported. The Premium segment offers online and offline streaming access to its catalog of music and podcasts, including video, lossless music, and audiobooks in select markets through subscription offerings primarily sold directly to end … Read more