74/100BSpotify Technology SA free cash flow 2015–2026What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.
Spotify Technology SA's free cash flow in Q3 FY2026, the three months to 30 September 2026, was 734.00M EUR, down 8.9% on the same quarter a year before. Spotify Technology SA's free cash flow over the last twelve months was 3.20B EUR, up 9.6% on the twelve months before. In fiscal year 2025 it was 2.87B EUR, up 25.7% on the year before.
Last updated 10 Nov 2026 · Next report 9 Feb 2027
Free cash flow
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 30 Sept 2026 | 3.20B | +9.61% | 16.99% | 3.25B | -53.00M | 15.23 |
| FY2025 | 31 Dec 2025 | 2.87B | +25.74% | 16.71% | 2.93B | -61.00M | 13.64 |
| FY2024 | 31 Dec 2024 | 2.28B | +238.87% | 14.57% | 2.30B | -17.00M | 11.03 |
| FY2023 | 31 Dec 2023 | 674.00M | +3,109.52% | 5.09% | 680.00M | -6.00M | 3.46 |
| FY2022 | 31 Dec 2022 | 21.00M | -92.39% | 0.18% | 46.00M | -25.00M | 0.11 |
| FY2021 | 31 Dec 2021 | 276.00M | +52.49% | 2.85% | 361.00M | -85.00M | 1.42 |
| FY2020 | 31 Dec 2020 | 181.00M | -58.68% | 2.30% | 259.00M | -78.00M | 0.96 |
| FY2019 | 31 Dec 2019 | 438.00M | +100.00% | 6.48% | 573.00M | -135.00M | 2.42 |
| FY2018 | 31 Dec 2018 | 219.00M | +64.66% | 4.16% | 344.00M | -125.00M | 1.21 |
| FY2017 | 31 Dec 2017 | 133.00M | +79.73% | 3.25% | 179.00M | -46.00M | 0.75 |
| FY2016 | 31 Dec 2016 | 74.00M | — | 2.51% | 101.00M | -27.00M | 0.44 |
| FY2015 | 31 Dec 2015 | -87.00M | — | -4.48% | -38.00M | -49.00M | -0.52 |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 734.00M | -8.93% | 14.77% | 740.00M | -6.00M | 3.52 |
| Q2 FY2026 | 30 Jun 2026 | 796.00M | +13.88% | 16.66% | 816.00M | -20.00M | 3.81 |
| Q1 FY2026 | 31 Mar 2026 | 831.00M | +55.91% | 18.33% | 836.00M | -5.00M | 3.97 |
| Q4 FY2025 | 31 Dec 2025 | 834.00M | -4.90% | 18.41% | 856.00M | -22.00M | 3.92 |
| Q3 FY2025 | 30 Sept 2025 | 806.00M | +13.36% | 18.87% | 829.00M | -23.00M | 3.77 |
| Q2 FY2025 | 30 Jun 2025 | 699.00M | +42.65% | 16.67% | 709.00M | -10.00M | 3.40 |
| Q1 FY2025 | 30 Mar 2025 | 533.00M | +158.74% | 12.72% | 539.00M | -6.00M | 2.54 |
| Q4 FY2024 | 31 Dec 2024 | 877.00M | +121.46% | 20.67% | 883.00M | -6.00M | 4.20 |
| Q3 FY2024 | 30 Sept 2024 | 711.00M | +238.57% | 17.83% | 715.00M | -4.00M | 3.43 |
| Q2 FY2024 | 30 Jun 2024 | 490.00M | +4,354.55% | 12.87% | 492.00M | -2.00M | 2.38 |
| Q1 FY2024 | 31 Mar 2024 | 206.00M | +261.40% | 5.67% | 211.00M | -5.00M | 1.01 |
| Q4 FY2023 | 31 Dec 2023 | 396.00M | — | 10.79% | 397.00M | -1.00M | 2.02 |
| Q3 FY2023 | 30 Sept 2023 | 210.00M | +500.00% | 6.26% | 211.00M | -1.00M | 1.06 |
| Q2 FY2023 | 30 Jun 2023 | 11.00M | -67.65% | 0.35% | 13.00M | -2.00M | 0.06 |
| Q1 FY2023 | 31 Mar 2023 | 57.00M | +111.11% | 1.87% | 59.00M | -2.00M | 0.29 |
| Q4 FY2022 | 31 Dec 2022 | -75.00M | -172.82% | -2.37% | -70.00M | -5.00M | -0.39 |
| Q3 FY2022 | 30 Sept 2022 | 35.00M | -64.29% | 1.15% | 40.00M | -5.00M | 0.18 |
| Q2 FY2022 | 30 Jun 2022 | 34.00M | 0.00% | 1.19% | 39.00M | -5.00M | 0.17 |
| Q1 FY2022 | 31 Mar 2022 | 27.00M | -34.15% | 1.01% | 37.00M | -10.00M | 0.14 |
| Q4 FY2021 | 31 Dec 2021 | 103.00M | +43.06% | 3.83% | 119.00M | -16.00M | 0.54 |
| Q3 FY2021 | 30 Sept 2021 | 98.00M | -6.67% | 3.92% | 123.00M | -25.00M | 0.50 |
| Q2 FY2021 | 30 Jun 2021 | 34.00M | +36.00% | 1.46% | 54.00M | -20.00M | 0.18 |
| Q1 FY2021 | 31 Mar 2021 | 41.00M | — | 1.91% | 65.00M | -24.00M | 0.21 |
| Q4 FY2020 | 31 Dec 2020 | 72.00M | -57.89% | 3.32% | 107.00M | -35.00M | 0.38 |
| Q3 FY2020 | 30 Sept 2020 | 105.00M | +133.33% | 5.32% | 122.00M | -17.00M | 0.56 |
| Q2 FY2020 | 30 Jun 2020 | 25.00M | -50.00% | 1.32% | 39.00M | -14.00M | 0.13 |
| Q1 FY2020 | 31 Mar 2020 | -21.00M | -112.21% | -1.14% | -9.00M | -12.00M | -0.11 |
| Q4 FY2019 | 31 Dec 2019 | 171.00M | +101.18% | 9.22% | 203.00M | -32.00M | 0.93 |
| Q3 FY2019 | 30 Sept 2019 | 45.00M | +45.16% | 2.60% | 71.00M | -26.00M | 0.24 |
| Q2 FY2019 | 30 Jun 2019 | 50.00M | +100.00% | 3.00% | 90.00M | -40.00M | 0.28 |
| Q1 FY2019 | 31 Mar 2019 | 172.00M | +126.32% | 11.38% | 209.00M | -37.00M | 0.95 |
| Q4 FY2018 | 31 Dec 2018 | 85.00M | +19.72% | 5.69% | 150.00M | -65.00M | 0.45 |
| Q3 FY2018 | 30 Sept 2018 | 31.00M | — | 2.29% | 80.00M | -49.00M | 0.16 |
| Q2 FY2018 | 30 Jun 2018 | 25.00M | -62.69% | 1.96% | 30.00M | -5.00M | 0.14 |
| Q1 FY2018 | 31 Mar 2018 | 76.00M | -15.56% | 6.67% | 84.00M | -8.00M | 0.45 |
| Q4 FY2017 | 31 Dec 2017 | 71.00M | — | 6.18% | 95.00M | -24.00M | 0.40 |
| Q3 FY2017 | 30 Sept 2017 | -90.00M | — | -8.72% | -81.00M | -9.00M | -0.54 |
| Q2 FY2017 | 30 Jun 2017 | 67.00M | — | 6.65% | 72.00M | -5.00M | 0.40 |
| Q1 FY2017 | 31 Mar 2017 | 90.00M | — | 9.98% | 93.00M | -3.00M | 0.54 |
Figures in EUR. Free cash flow is operating cash flow less capital expenditure; owner earnings take off only the spending that keeps the business as it is, not the spending to grow it (an estimate by Financial Modeling Prep). Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Stock buybacks,Cash flow
Common questions about Spotify Technology SA's free cash flow
Source: Financial Modeling PrepVerified against SEC filings