A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Spotify Technology's Debt-to-EBITDA or its related term are showing as below:
XSWX:SPOT'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -622.06 Med: -1.06 Max: 4.28
Current: 0.16
During the past 11 years, the highest Debt-to-EBITDA Ratio of Spotify Technology was 4.28. The lowest was -622.06. And the median was -1.06.
XSWX:SPOT's Debt-to-EBITDA is ranked better than 70.16% of 305
companies
in the Interactive Media industry
Industry Median: 0.67
vs XSWX:SPOT: 0.16
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Spotify Technology Debt-to-EBITDA Related Terms
Spotify Technology Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Spotify Technology's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:SPOT vs NBIS, BIDU, RDDT: Debt-to-EBITDA Comparison
For the Internet Content & Information subindustry, Spotify Technology's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Spotify Technology Debt-to-EBITDA vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Spotify Technology's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Spotify Technology's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Spotify Technology (XSWX:SPOT) has a Debt-to-EBITDA of 0.12 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Spotify Technology. According to the industry distribution chart, Spotify Technology ranks #91 out of 305 companies in the Interactive Media industry, placing it in the top 29.8%.
Is Spotify Technology's Debt-to-EBITDA too high?
Spotify Technology's current Debt-to-EBITDA is 0.12. The Interactive Media industry median Debt-to-EBITDA is 0.67. Spotify Technology's value of 0.12 is 82.1% below this industry median. Based on the distribution chart, Spotify Technology ranks #91 out of 305 companies in the Interactive Media industry, which is above the industry midpoint. Overall, Spotify Technology has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.
How does Spotify Technology's Debt-to-EBITDA compare to NBIS and BIDU?
According to the Interactive Media industry distribution chart, Spotify Technology ranks #91 out of 305 companies for Debt-to-EBITDA. This puts Spotify Technology in the upper half of its industry. The industry median Debt-to-EBITDA is 0.67. Spotify Technology's value of 0.12 is 82.1% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Interactive Media company?
The median Debt-to-EBITDA among Interactive Media companies is 0.67, based on 305 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spotify Technology's current Debt-to-EBITDA of 0.12 is 82.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Spotify Technology. For the Interactive Media industry, the median Debt-to-EBITDA is 0.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spotify Technology's current Debt-to-EBITDA is 0.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spotify Technology stock overvalued right now?
Spotify Technology (XSWX:SPOT) has a current Debt-to-EBITDA of 0.12. The stock's GF Value™ is CHF399.94, compared to a current price of CHF391.50 — trading 2.1% below its estimated fair value. The current Debt-to-EBITDA is 0.12 and 82.1% below the Interactive Media industry median of 0.67. Spotify Technology's overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Spotify Technology (XSWX:SPOT), the current Debt-to-EBITDA is 0.12 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Spotify Technology (XSWX:SPOT) Overvalued in 2026?
Based on GuruFocus' analysis, Spotify Technology stock appears to be undervalued.
The current stock price of CHF391.50 is trading 2.1% below its estimated GF Value™ of CHF399.94.
Key valuation signals for XSWX:SPOT:
Debt-to-EBITDA: 0.12
GF Value™: CHF399.94 vs. price of CHF391.50 (2.1% below fair value)
Industry Position: 82.1% below the Interactive Media median (#91 of 305)
No single metric tells the full story. See the XSWX:SPOT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spotify is the leading global music streaming service, with over 750 million monthly active users and nearly 300 million paying subscribers, with the latter constituting the firm's premium segment. Most of the firm's revenue and nearly all its gross profit come from subscribers, who pay a monthly fee to access a music library that includes most of the most popular songs ever recorded, including all from the major record labels. The firm also offers access to audiobooks and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog, but cannot customize a similar on-demand experience.
77GF Score
Get the complete analysis for XSWX:SPOT
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:SPOT has been successfully added to your 
