Spotify Technology (MEX:SPOT N) Asset Turnover: 0.32 (As of Mar. 2026)


MEX:SPOT N Spotify Technology SA MEX:SPOT N
80 GF Score
Price MXN7,843.09
GF Value MXN8,709.51
Valuation Fairly Valued
! 2 Warning Signs
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What is Spotify Technology Asset Turnover?

Spotify Technology MEX:SPOT N -1.82% 80 Asset Turnover is 0.32 as of Mar. 2026. GuruFocus rates MEX:SPOT N with a GF Score™ of 80/100 and a GF Value™ of MXN8,709.51 (Fairly Valued). The stock has 2 warning signs investors should review.

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Spotify Technology's Revenue for the three months ended in Mar. 2026 was MXN94,500 Mil. Spotify Technology's Total Assets for the quarter that ended in Mar. 2026 was MXN295,128 Mil. Therefore, Spotify Technology's Asset Turnover for the quarter that ended in Mar. 2026 was 0.32.

Asset Turnover is linked to ROE % through Du Pont Formula. Spotify Technology's annualized ROE % for the quarter that ended in Mar. 2026 was 35.10%. It is also linked to ROA % through Du Pont Formula. Spotify Technology's annualized ROA % for the quarter that ended in Mar. 2026 was 20.37%.

Spotify Technology  (MEX:SPOT N) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Spotify Technology's annulized ROE % for the quarter that ended in Mar. 2026 is

ROE %**(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=60122.9/171296.586
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(60122.9 / 377998.748)*(377998.748 / 295127.863)*(295127.863/ 171296.586)
=Net Margin %*Asset Turnover*Equity Multiplier
=15.91 %*1.2808*1.7229
=ROA %*Equity Multiplier
=20.37 %*1.7229
=35.10 %

Note: The Net Income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data.

* 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.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Spotify Technology's annulized ROA % for the quarter that ended in Mar. 2026 is

ROA %(Q: Mar. 2026 )
=Net Income/Total Assets
=60122.9/295127.863
=(Net Income / Revenue)*(Revenue / Total Assets)
=(60122.9 / 377998.748)*(377998.748 / 295127.863)
=Net Margin %*Asset Turnover
=15.91 %*1.2808
=20.37 %

Note: The Net Income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data.

* 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.

Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.

Spotify Technology Asset Turnover Related Terms

Spotify Technology Asset Turnover Historical Data

* Premium members only.

The historical data trend for Spotify Technology's Asset Turnover 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.

Spotify Technology Asset Turnover Chart

Spotify Technology Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Asset Turnover
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.40 1.50 1.57 1.64 1.25

Spotify Technology Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Asset Turnover Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.34 0.32 0.30 0.30 0.32

MEX:SPOT N vs NBIS, BIDU, RDDT: Asset Turnover Comparison

For the Internet Content & Information subindustry, Spotify Technology's Asset Turnover, along with its competitors' market caps and Asset Turnover 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 Asset Turnover vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Spotify Technology's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Spotify Technology's Asset Turnover falls into.


MEX:SPOT N
80GF Score
Spotify Technology SA MEX:SPOT N
Asset Turnover is just one metric. See GF Score™, valuation, warning signs, and more.
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Spotify Technology Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Spotify Technology's Asset Turnover for the fiscal year that ended in Dec. 2025 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2025 )/( (Total Assets (A: Dec. 2024 )+Total Assets (A: Dec. 2025 ))/ count )
=362348.9/( (262170.344+316575.627)/ 2 )
=362348.9/289372.9855
=1.25

Spotify Technology's Asset Turnover for the quarter that ended in Mar. 2026 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Mar. 2026 )/( (Total Assets (Q: Dec. 2025 )+Total Assets (Q: Mar. 2026 ))/ count )
=94499.687/( (316575.627+273680.099)/ 2 )
=94499.687/295127.863
=0.32

* 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.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.

Frequently Asked Questions Learn more about Asset Turnover →
What does a Asset Turnover of 0.32 mean?
Spotify Technology (MEX:SPOT N) has a Asset Turnover of 0.32 as of Mar. 2026. Asset turnover equals current-period sales over average total assets over the past two periods. View historical data on Spotify Technology and its competitors.
Is Spotify Technology's Asset Turnover too high?
Spotify Technology's current Asset Turnover is 0.32. Overall, Spotify Technology has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Spotify Technology's Asset Turnover compare to NBIS and BIDU?
Spotify Technology's Asset Turnover of 0.32 can be compared against companies in the Interactive Media industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Asset Turnover for an Interactive Media company?
A good Asset Turnover depends on the Interactive Media industry context. However, Asset Turnover should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Asset Turnover mean?
A high Asset Turnover can signal that a stock is expensive relative to its fundamentals. Asset turnover equals current-period sales over average total assets over the past two periods. View historical data on Spotify Technology and its competitors. Spotify Technology's current Asset Turnover is 0.32. 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?
Based on GuruFocus' analysis, Spotify Technology (MEX:SPOT N) is currently considered Fairly Valued. The stock's GF Value™ is MXN8,709.51, compared to a current price of MXN7,843.09 — trading 9.9% below its estimated fair value. The current Asset Turnover is 0.32. Spotify Technology's overall GF Score™ is 80/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Asset Turnover calculated?
Asset Turnover is calculated from a company's financial statements. For Spotify Technology (MEX:SPOT N), the current Asset Turnover is 0.32 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 (MEX:SPOT N) Overvalued in 2026?

Based on GuruFocus' analysis, Spotify Technology stock appears to be undervalued. The current stock price of MXN7,843.09 is trading 9.9% below its estimated GF Value™ of MXN8,709.51. GuruFocus considers Spotify Technology to be Fairly Valued.

Key valuation signals for MEX:SPOT N:

  • Asset Turnover: 0.32
  • GF Value™: MXN8,709.51 vs. price of MXN7,843.09 (9.9% below fair value)
  • GF Score™: 80/100 with 2 warning signs

No single metric tells the full story. See the MEX:SPOT N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Spotify Technology Business Description

Address Regeringsgatan 19, Stockholm, SWE, 111 53
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.
80GF Score

Get the complete analysis for MEX:SPOT N

Asset Turnover is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN7,843.09
Price
MXN8,709.51
GF Value