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Spotify TechnologyXSWX:SPOT 77 Debt-to-Equity is 0.06 as of Mar. 2026, which is 85% below its 10-year median of 0.40. GuruFocus rates XSWX:SPOT with a GF Score™ of 77/100 and a GF Value™ of CHF396.73. The stock has 2 warning signs investors should review. Among 412 Interactive Media companies, Spotify Technology ranks better than 64.32% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Spotify Technology's Debt-to-Equity or its related term are showing as below:
XSWX:SPOT'
s Debt-to-Equity Range Over the Past 10 Years
Min: -4.63 Med: 0.4 Max: 6.35
Current: 0.06
During the past 11 years, the highest Debt-to-Equity Ratio of Spotify Technology was 6.35. The lowest was -4.63. And the median was 0.40.
XSWX:SPOT's Debt-to-Equity is ranked better than 64.32% of 412
companies
in the Interactive Media industry
Industry Median: 0.125
vs XSWX:SPOT: 0.06
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Spotify Technology Debt-to-Equity Related Terms
Spotify Technology Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Spotify Technology's Debt-to-Equity 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-Equity Comparison
For the Internet Content & Information subindustry, Spotify Technology's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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-Equity vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Spotify Technology's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Spotify Technology's Debt-to-Equity 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.
Spotify Technology (XSWX:SPOT) has a Debt-to-Equity of 0.06 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Spotify Technology and its competitors. This is 85% below median its historical median of 0.40. According to the industry distribution chart, Spotify Technology ranks #147 out of 412 companies in the Interactive Media industry, placing it in the top 35.7%.
Is Spotify Technology's Debt-to-Equity too high?
Spotify Technology's current Debt-to-Equity of 0.06 is 85% below median its 10-year median of 0.40. The Interactive Media industry median Debt-to-Equity is 0.13. Spotify Technology's value of 0.06 is 52% below this industry median. Based on the distribution chart, Spotify Technology ranks #147 out of 412 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-Equity compare to NBIS and BIDU?
According to the Interactive Media industry distribution chart, Spotify Technology ranks #147 out of 412 companies for Debt-to-Equity. This puts Spotify Technology in the upper half of its industry. The industry median Debt-to-Equity is 0.13. Spotify Technology's value of 0.06 is 52% below this benchmark. While the company's 10-year median is 0.40 vs. the industry median of 0.13, Spotify Technology has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Interactive Media company?
The median Debt-to-Equity among Interactive Media companies is 0.13, based on 412 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spotify Technology's current Debt-to-Equity of 0.06 is 52% 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-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Spotify Technology and its competitors. For the Interactive Media industry, the median Debt-to-Equity is 0.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spotify Technology's current Debt-to-Equity is 0.06, which is 85% below median its own 10-year median of 0.40. 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-Equity of 0.06. The stock's GF Value™ is CHF396.73, compared to a current price of CHF391.50 — trading 1.3% below its estimated fair value. The current Debt-to-Equity is 0.06, which is 85% below median its 10-year median of 0.40 and 52% below the Interactive Media industry median of 0.13. 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-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Spotify Technology (XSWX:SPOT), the current Debt-to-Equity is 0.06 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 1.3% below its estimated GF Value™ of CHF396.73.
Key valuation signals for XSWX:SPOT:
Debt-to-Equity: 0.06 (85% below median its 10-year median of 0.40)
GF Value™: CHF396.73 vs. price of CHF391.50 (1.3% below fair value)
Industry Position: 52% below the Interactive Media median (#147 of 412)
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
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