
Browsing restrictions can be lifted for a fee.
As of Q4'25, SPOT's EV/EBITDA stands at 30.454, marking a continued decline from its recent peak of 233.21 in Q1'24. This latest figure suggests a significant normalization in the company's valuation multiple after a period of extreme volatility. From Q1'23 to Q4'23, the EV/EBITDA ratio was deeply negative, reaching a low of -335.325 in Q4'23, before sharply reversing to a positive 233.21 in Q1'24. Since then, the ratio has steadily decreased each quarter, indicating a stabilization in SPOT's financial performance and valuation. The overall trend from Q1'23 to Q4'25 reflects a transition from highly negative to positive and gradually moderating EV/EBITDA levels, suggesting improved profitability and reduced market uncertainty.