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Spotify Technology S.A.
SPOT
513.08 (4.99%) 25.58
Market cap
$105.48(B)
Earnings date
Oct-22-2026
Category
Sector
Communication Services
Industry
Entertainment
Spotify Technology S.A. together with its subsidiaries provides audio streaming subscription services worldwide. It operates in two segments Premium and Ad-Supported. The Premium segment offers online and offline streaming access to its catalog of music and podcasts including video lossless music and audiobooks in select markets through subscription offerings primarily sold directly to end users and partners. The Ad-Supported segment provides limited on-demand online access to its catalog of music and online and offline access to its catalog of podcasts on computers tablets mobile devices and other smart 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 headquartered in Stockholm Sweden.
EV: $99.81(B)
Total Equity: $9.58(B)
Debt/Equity: 0.06
Dividend/share: $0.0
Div. yield: 0.00%
P/E: 27.69
Forward P/E: 36.75
P/FCF: 28.27
P/S: 5.11
P/B: 11.02
EPS: $18.5
EPS (fwd): $14.0
FCF/share: $18.1
Revenue/share: $100.5
Book value/share: $46.6
ROIC: 16.8%
ROA: 10.9%
ROE: 22.2%
Margins: Gross | Op. | Net
32.8% | 11.7% | 18.4%
0.0%of Portfolio
My holdings
Day change
Total change
Overview Valuation Growth Financials & KPIsCompetitors & Peer Comparison Ownership ToolsAll

SPOT Valuation & Price Targets

Favorite Valuation Methods

PEvaluation
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Analyst targets
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DCF (2-stage)
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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

CURRENT PRICE
$513
49% Overvalued
BEAR
$195
62%
BASE
$259
49%
BULL
$324
37%
Fair P/E
Margin of safety
EPS
Market Model
ROICRevenue growthFCF MarginShares outstan...Debt/EquityDebt/EBITDA
Economic moat: None/narrow

EPS Estimates

LowAvgHigh#
FY+113.014.015.727
FY+215.717.520.227
FY+319.422.425.016
FY+422.724.425.63
FY+529.929.929.91

Analyst Price Targets

CURRENT PRICE
$513
19% Undervalued
BEAR
$415
19%
BASE
$612
19%
BULL
$711
39%

Analyst Recommendations

Strong Buy8
Buy25
Hold7
Sell0
Strong Sell0

2-stage DCF

First Stage Duration: 5 Years
Starting Free Cash Flow
First Stage Growth Rate
Low
Mid
High
Terminal Growth Rate
Low
Mid
High
Discount Rate

Discounted Cash Flow

Forecast years: 5 Years
Terminal Growth Rate
Low
Mid
High
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
Low
Mid
High
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
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Final Growth Rate
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Mid
High
Discount Rate

EPS Growth

Forecast years: 5 Years
Starting EPS
EPS Growth Rate
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Mid
High
Final P/E
Low
Mid
High
Discount Rate

Revenue Growth Valuation

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

Peter Lynch Fair Value

Earnings Per Share
Growth Rate
Low
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High

Graham Formula

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