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Spotify Technology S.A. SPOT R3KAITECH

Communication Services · Internet Content & Information · Sweden
https://www.spotify.com
Company Profile ↓
$584.22
-15.94% 1Y
Mkt Cap$120.13B
P/E31.84
P/B10.69
52W High$738.53
52W Low$412.75
Book Value$47.64
EPS (TTM)$18.35

Company Overview

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.

Why Investors Should Care

Strong Return on Equity

Generates a return on equity of 44.5%, reflecting efficient use of shareholder capital.

Healthy Capital Returns

Return on capital employed stands at 24.6%.

Steady Revenue Expansion

Revenue has grown at a 13.6% CAGR over the past five years.

Healthy Margins

Maintains a net profit margin of 18.4%.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.06.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Dec 2025 Revenue of $17.19B (+9.7% YoY); net profit $2.21B.
  • Trailing 12 Months Year-on-year growth — revenue +13.9%, earnings +94.4%.
  • 5-Year Trend Long-term compounding — revenue CAGR 13.6%.

Growth & Price Performance

Compounded Sales Growth

5 Years:13.59%
1 Year:13.90%

Compounded Profit Growth

5 Years:-
1 Year:94.38%

Stock Price Performance

1 Year:-15.94%
6 Months:+12.78%
3 Months:+18.09%
1 Month:+14.24%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

AI Exposure AI AI Consumer
Core Focus

AI DJ, AI playlists, AI audiobook recs; Wondery podcast + creator AI tools.

Key Initiatives
  • AI DJ & personalisation Spotify's AI DJ and recommendation engine personalise music/podcast discovery, deepening engagement and retention.
  • AI-driven discovery & ads Machine learning powers playlists, recommendations and ad targeting across a huge user base.
  • AI content tools AI features (e.g., voice translation for podcasts) expand content reach.
Why Investors Should Care
  • AI personalisation drives engagement on the leading audio platform; net margin ~15%, ROE ~38%.
  • Improving profitability and pricing power as scale builds.
  • AI-driven discovery strengthens the content flywheel.
  • Music-label economics and competition cap margin upside.
AI InvestmentML personalization + GPU compute.
AI RevenueIndirect via retention + premium uplift.
ROI (Now)Operating margin inflected positive.
ROI (Expected)AI-driven engagement to support pricing.

Curated from public filings and analyst commentary; figures are illustrative.

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Price Chart

Robinhood TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Strong return on equity of 44.5%.
  • Healthy ROCE of 24.6%.
  • Compounding revenue at 13.6% over 5 years.
  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
31.84
Industry PE
16.45
Forward P/E
33.02
PEG Ratio
1.55
Book Value
$47.64
Price to Book
10.69
P/S
5.78
EV/EBITDA
36.61
Dividend Yield
0.00%

Growth (CAGR)

Revenue 5Y
13.59%
Profit 5Y
-
Revenue (YoY)
13.90%
Earnings (YoY)
94.38%

Profitability & Returns

ROCE
24.61%
ROE
44.48%
ROA
12.19%
Profit Margin
18.43%
Op Margin
13.71%
Gross Margin
32.77%
EPS (Latest Qtr)
$3.45
EPS (TTM)
$18.35

Balance Sheet & Liquidity

Debt/Equity
0.06
Quick Ratio
1.60
Current Ratio
2.11
Debt
$466.00M
Total Assets
$13.13B
Current Assets
$9.66B
Working Capital
$4.41B

Ownership

Promoter Holding
23.46%
Chg in Prom Hold
0.00%
FII / Inst Holding
68.85%
Chg in FII Hold
0.01%

Financial Snapshot

Enterprise Value
$120.13B
Total Revenue (TTM)
$18.11B
EBITDA
$2.68B
Free Cash Flow
$1.54B
Operating Cash Flow
$3.34B
Shares Outstanding
205.62M
Gross Margin
32.77%
Payout Ratio
0.00%

Peer comparison

Peer companies in the same sector (Communication Services).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 SPOT Spotify Technology S.A. R3KAITECH 584.22 31.84 $120.13B 0.00% 24.61% 44.48% 13.59% -
2 GOOGL Alphabet Inc. NDXSPXR3KAITECH 320.21 16.06 $1.88T 0.25% 26.20% 48.68% 17.96% 21.53%
3 META Meta Platforms, Inc. NDXSPXR3KAITECH 642.62 24.21 $1.42T 0.31% 25.69% 29.85% 19.89% 37.61%
4 NFLX Netflix, Inc. NDXSPXR3KAI 65.85 20.71 $274.20B 0.00% 29.87% 49.54% 22.30% 32.79%
5 DIS The Walt Disney Company SPXR3K 112.52 23.20 $194.29B 1.43% 10.74% 8.01% 6.96% 4.12%
6 VZ Verizon Communications Inc. SPXR3K 44.66 11.63 $185.55B 5.86% 8.56% 15.84% 2.33% 6.90%
7 TMUS T-Mobile US, Inc. NDXSPXR3K 146.54 15.34 $157.19B 2.45% 9.39% 17.99% 22.63% 28.77%
8 T AT&T Inc. SPXR3K 20.93 6.91 $143.42B 4.37% 6.59% 18.34% 0.31% 3.44%
9 CMCSA Comcast Corporation NDXSPXR3K 22.69 7.32 $80.30B 6.30% 8.64% 11.49% 8.47% 12.78%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 4.19B4.19B4.27B4.53B4.53B
Cost of Revenue 2.86B2.87B2.92B3.03B3.04B
Gross Profit 1.33B1.32B1.35B1.50B1.50B
Operating Expenses 817.00M914.00M769.00M798.00M780.00M
Operating Income 509.00M406.00M582.00M701.00M715.00M
EBITDA 363.00M82.00M859.00M1.05B970.00M
Interest Expense 8.00M8.00M8.00M7.00M7.00M
Pretax Income 328.00M48.00M827.00M1.02B937.00M
Tax Provision 103.00M134.00M-72.00M-153.00M216.00M
Net Income 225.00M-86.00M899.00M1.17B721.00M
Diluted EPS 1.07-0.423.284.433.45

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue -11.73B13.25B15.67B17.19B
Cost of Revenue -8.80B9.85B10.95B11.69B
Gross Profit -2.93B3.40B4.72B5.50B
Operating Expenses -3.58B3.84B3.36B3.30B
Operating Income --659.00M-446.00M1.36B2.20B
EBITDA --158.00M-309.00M1.50B2.36B
Interest Expense -41.00M38.00M36.00M31.00M
Pretax Income --370.00M-505.00M1.34B2.22B
Tax Provision -60.00M27.00M203.00M12.00M
Net Income --430.00M-532.00M1.14B2.21B
Diluted EPS --2.93-2.735.5010.51

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets -7.64B8.35B12.01B15.02B
Current Assets -4.35B5.26B8.38B10.50B
Cash & Equivalents -2.48B3.11B4.78B5.26B
Inventory -----
Receivables -502.00M602.00M540.00M536.00M
Total Liabilities -5.24B5.82B6.48B6.69B
Current Liabilities -3.52B4.09B4.45B6.08B
Long Term Debt 1.20B1.13B1.20B1.54B-
Total Debt -1.68B1.70B2.08B1.96B
Total Equity -2.40B2.52B5.53B8.33B
Shares Outstanding -196.86M201.34M207.48M209.49M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow -46.00M680.00M2.30B2.93B
Investing Cash Flow --423.00M-217.00M-1.49B-1.78B
Financing Cash Flow --40.00M234.00M729.00M-381.00M
Capital Expenditure --25.00M-6.00M-17.00M-61.00M
Free Cash Flow -21.00M674.00M2.28B2.87B
Net Change in Cash --417.00M697.00M1.54B767.00M

Ratios (Annual)

Figures in %.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % -25.0%25.6%30.1%32.0%
Operating Margin % --5.6%-3.4%8.7%12.8%
Net Margin % --3.7%-4.0%7.3%12.9%
ROE % --17.9%-21.1%20.6%26.6%
ROCE % --16.0%-10.5%18.1%24.6%

Shareholding Pattern

Insiders
23.46%
Institutions
68.85%
Public Float
89.95%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 5.29% 10.89M $5.76B
2 BAILLIE GIFFORD & CO 3.85% 7.93M $4.20B
3 Morgan Stanley 3.60% 7.42M $3.93B
4 State Street Corporation 2.25% 4.63M $2.45B
5 Price (T.Rowe) Associates Inc 1.75% 3.60M $1.90B
6 Wellington Management Group, LLP 1.51% 3.11M $1.65B
7 WCM Investment Management, LLC 1.38% 2.84M $1.50B
8 Jennison Associates LLC 1.36% 2.81M $1.49B
9 Fisher Asset Management, LLC 1.30% 2.67M $1.42B
10 Dz Bank Ag Deutsche Zentral Genossenschafts Bank, Frankfurt Am Main 1.20% 2.46M $1.30B

Analyst View

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Latest News

Recent headlines for SPOT

Google News hu, 22 Oct 2026

SPOT Stock Hits 10-Month High Despite Q3 Earnings Miss: Co-CEO Says Spotify ‘Is Now An Agent,’ Brushes Off AI Churn Fears - Yahoo Finance

<a href="https://news.google.com/rss/articles/CBMikwFBVV95cUxON2h3bjl1bUUxRG9wWDZtSE5TUDA3a21iLUtreHIwZEJpV2xjdGRRZXFYdzYwa2JEanhUdXFvYURjOWk5azk4RDhGLTAzQ0xQS2NWZy0yQS1ydW1INU40SDhoVlo3aU01UUNxSFpIX1N0MHdyblo0eDNNUUJOa2NOQnpzd3hJOTFBNzM3YW…

Google News Fri, 23 Oct 2026

Spotify Stock Forecast: Subscriber Beat Lifts SPOT 11% Above $565.39 as Chip Stocks Slide - TradingKey

<a href="https://news.google.com/rss/articles/CBMi6AFBVV95cUxQenZ3dnItaGd6bVh3eGcxeHVSNlhadFdsMHpkMjl6RVZBa2JXemZIUjNsZEtnV1RteDBYTm83WmNTVnA0bmJEeEZZaGwzOFlMcHZvVkxWVVpTZDNUX1FNUUxtYzZmY1h4M0Y0Q193MmFHUFVFc29QVlhPMG9IaVRjZVgzTGVSQlg5bHZWQT…

Google News hu, 22 Oct 2026

Spotify Stock Surges on Subscriber Growth, AI Optimism - Schaeffer's Investment Research

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Google News hu, 22 Oct 2026

SPOT Stock Hits 10-Month High Despite Q3 Earnings Miss: Co-CEO Says Spotify ‘Is Now An Agent,’ Brushes Off AI Churn Fears - Stocktwits

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Google News Fri, 23 Oct 2026

Spotify Technology (NYSE:SPOT) Stock Price Target Raised at Oppenheimer - MarketBeat

<a href="https://news.google.com/rss/articles/CBMiywFBVV95cUxPZnhhX09OOWpaY3pWTVo1YW1EOXdWckFpa3h2N3dBQ2g4VmRfWlJOd2stUlFjWjdsdzZPUTFFb0wwMlQ3bVgwTlRjQmxDME83TmVMbHBzU0tUTlFjUDJabUVsSnZDX2RxTjZVTVgxYkhfLUY2YVlGOE1EZnhYUmxEcUhpVk5MR2RyaXctYm…

Google News hu, 22 Oct 2026

Spotify shares rise as Q4 profit forecast tops estimates (SPOT:NYSE) - Seeking Alpha

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SPOT — Frequently Asked Questions

What is the current share price of Spotify Technology S.A. (SPOT)?

As of 2026-10-23 16:27 PDT, Spotify Technology S.A. (SPOT) trades at $584.22 on NYSE. Its 52-week range is $412.75 to $738.53.

What is the market capitalisation of SPOT?

Spotify Technology S.A. (SPOT) has a market capitalisation of $120.13B on NYSE.

What is the P/E ratio of SPOT?

SPOT trades at a trailing price-to-earnings (P/E) ratio of 31.84. The industry average P/E is 16.45. Its price-to-book (P/B) ratio is 10.69.

What is the return on equity (ROE) of SPOT?

SPOT has a return on equity (ROE) of 44.48%. Its return on capital employed (ROCE) is 24.61%.

Is SPOT a good stock to buy?

This page provides a data-driven analysis of Spotify Technology S.A. (SPOT), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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