Spotify Technology S.A. (SPOT) P/E Ratio History
Historical price-to-earnings valuation from 2024 to 2026
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SPOT Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Spotify Technology S.A. (SPOT) trades at a price-to-earnings ratio of 34.5x, with a stock price of $425.25 and trailing twelve-month earnings per share of $13.00.
The current P/E is 68% below its 5-year average of 107.9x. Over the past five years, SPOT's P/E has ranged from a low of 45.1x to a high of 198.8x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Communication Services sector median P/E of 15.2x, SPOT trades at a 126% premium to its sector peers. The sector includes 108 companies with P/E ratios ranging from 0.1x to 187.4x.
Relative to the broader market, SPOT commands a significant premium over the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our SPOT DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
SPOT P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $9B | 11.9Lowest | 0.24Best | +146%Best | |
| $4.2T | 38.5 | 2.16 | +23% | |
| $3.0T | 38.3 | 1.37 | +30% | |
| $4.8T | 36.8 | 1.23 | +34% | |
| $374B | 34.9 | 1.06 | +28% | |
| $16B | 43.4 | - | -17% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
SPOT Historical P/E Data (2024–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | $484.91 | $10.75 | 45.1x | -58% | |
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $580.71 | $8.32 | 69.8x | -35% |
| FY2025 Q3 | $698.00 | $5.69 | 122.7x | +14% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $767.34 | $3.86 | 198.8x | +84% |
| FY2025 Q1 | Sun Mar 30 2025 00:00:00 GM | $561.16 | $5.61 | 100.0x | -7% |
| FY2024 Q4 | $447.38 | $5.51 | 81.2x | -25% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $368.53 | $3.42 | 107.8x | -0% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $313.79 | $2.28 | 137.6x | +28% |
Average P/E for displayed period: 107.9x
Full SPOT Stock Analysis
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Start ComparisonSPOT — Frequently Asked Questions
Quick answers to the most common questions about buying SPOT stock.
Is SPOT stock overvalued or undervalued?
SPOT trades at 34.5x P/E, below its 5-year average of 107.9x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does SPOT's valuation compare to peers?
Spotify Technology S.A. P/E of 34.5x compares to sector median of 15.2x. The premium reflects expected growth above peers.
What is SPOT's PEG ratio?
SPOT PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2024-2026.