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Spotify Technology S.A.
SPOT
597.80 (-0.18%) 1.07
Communication Services
Entertainment
Spotify Technology S.A. together with its subsidiaries provides audio streaming subscription services worldwide. It operates through two segments Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. This segment sells directly to the end users. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its users on their computers tablets and compatible mobile devices. The company also offers sales distribution and marketing contract research and development and customer and other support services. Spotify Technology S.A. was incorporated in 2006 and is based in Luxembourg Luxembourg.

Quality Checklist 6/8

ROIC > 10%
Debt/Equity < 1
Current Ratio > 1
Quick Ratio > 1
Past Net Income CAGR > 0%
Est. EPS Growth > 5%
5Y Shares Out Change < 0%
Net Margin > 10%
0.0%of Portfolio

My holdings

Day change:
Total change:
Shares:
Cost basis:
Market cap: $123.20(B)
EV: $110.42(B)
Total Equity: $9.13(B)
Earnings date: Feb-03-2026
P/E: 74.17
Forward P/E: 68.09
P/FCF: 35.99
P/S: 6.17
P/B: 13.49
EPS: $8.1
EPS (fwd): $8.8
FCF/share: $16.6
Revenue/share: $96.9
Book value/share: $44.3
ROIC: 16.8%
ROA: 10.9%
ROE: 22.2%
Debt/Equity: 0.29
Current Ratio: 1.60
Gross margin: 31.9%
Operating margin: 11.7%
Net margin: 8.3%
Dividend/share: $0.0
Div. yield: 0.00%
All Valuation Overview Growth Financials & KPIsCompetitors & Peer Comparison Ownership Tools

SPOT Valuation & Price Targets

Current Price
$598

Favorite Valuation Methods

PEvaluation
N/A
Analyst targets
N/A
DCF (2-stage)
N/A

More Valuation Methods

DCF (simple)
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DCF (exit mult.)
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DDM
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EPS growth
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Revenue growth
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Peter Lynch FV
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Graham No.
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PEvaluation

65% overvalued
Low
$156
Mid
$208
High
$260
Current price
$598
Fair P/E
Margin of safety
EPS
Market Model
ROICRevenue growthFCF MarginShares outstan...Debt/EquityDebt/EBITDA
Economic moat: None/narrow

EPS Estimates

LowAvgHigh#
FY+16.58.810.925
FY+29.114.117.225
FY+316.718.520.816
FY+419.921.222.44
FY+522.822.822.81

Analyst Price Targets

27% undervalued
Low
$496
Mid
$760
High
$912
Current price
$598

Analyst Recommendations

Strong Buy8
Buy21
Hold8
Sell0
Strong Sell2

2-stage DCF

First Stage Duration: 5 Years
Starting Free Cash Flow
First Stage Growth Rate
LowMidHigh
Terminal Growth Rate
LowMidHigh
Discount Rate

Discounted Cash Flow

Forecast years: 5 Years
Terminal Growth Rate
LowMidHigh
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Discounted Cash Flow (exit mult.)

Forecast years: 5 Years
Exit FCF Multiple
LowMidHigh
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Dividend Discount Model

Annual Dividend
First Stage Length (Years): 0 Years
First Stage Growth Rate
Final Growth Rate
Discount Rate

EPS Growth

Forecast years: 5 Years
Starting EPS
EPS Growth Rate
LowMidHigh
Final P/E
LowMidHigh
Discount Rate

Revenue Growth Valuation

Forecast Years: 10 Years
Base Revenue
Revenue Growth Rate
LowMidHigh
Final Net Margin
LowMidHigh
Final P/E Ratio
LowMidHigh
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate

Graham Formula

Earnings Per Share
EPS Growth (7-10 years)
Government Bond Rate
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