Spotify Technology S.A. SPOT AI
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.
READ MORE ›Market & Price
Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Strong return on equity of 38.0%.
- Healthy ROCE of 25.3%.
- Compounding revenue at 13.6% over 5 years.
- Profit CAGR of 204.8% over 5 years.
- Generates positive free cash flow.
CONS
- Trading 35.9% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Communication Services).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SPOT Spotify Technology S.A. AI | 497.68 | 33.22 | $102.33B | - | 25.25% | 37.99% | 13.59% | 204.81% |
| 2 | GOOGL Alphabet Inc. NDXSPXAI | 380.34 | 28.99 | $4.61T | 0.23% | 32.40% | 38.88% | 12.51% | 30.14% |
| 3 | META Meta Platforms, Inc. NDXSPXAI | 632.51 | 22.99 | $1.61T | 0.33% | 26.87% | 32.93% | 19.89% | 37.61% |
| 4 | NFLX Netflix, Inc. NDXSPXAI | 86.02 | 27.75 | $362.21B | - | 30.26% | 48.49% | 12.64% | 34.71% |
| 5 | APP AppLovin Corporation NDXSPXAI | 613.09 | 53.17 | $205.96B | - | 70.20% | - | 24.84% | 609.87% |
| 6 | TMUS T-Mobile US, Inc. NDXSPX | 187.53 | 19.93 | $202.95B | 2.18% | 9.27% | 18.02% | 3.53% | 61.90% |
| 7 | VZ Verizon Communications Inc. SPX | 47.81 | 11.66 | $199.63B | 5.92% | 8.59% | 17.20% | 0.33% | -6.86% |
| 8 | DIS The Walt Disney Company SPX | 101.83 | 16.29 | $176.83B | 1.47% | 8.46% | 11.01% | 4.51% | 58.00% |
| 9 | T AT&T Inc. SPX | 24.80 | 8.16 | $172.32B | 4.48% | 9.23% | 18.37% | 1.34% | 119.18% |
Quarterly Results
Figures in USD.
| Metric | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 4.19B | 4.19B | 4.27B | 4.53B | 4.53B |
| Cost of Revenue | 2.86B | 2.87B | 2.92B | 3.03B | 3.04B |
| Gross Profit | 1.33B | 1.32B | 1.35B | 1.50B | 1.50B |
| Operating Expenses | 817.00M | 914.00M | 769.00M | 798.00M | 780.00M |
| Operating Income | 509.00M | 406.00M | 582.00M | 701.00M | 715.00M |
| EBITDA | 363.00M | 82.00M | 859.00M | 1.05B | 970.00M |
| Interest Expense | 8.00M | 8.00M | 8.00M | 7.00M | 7.00M |
| Pretax Income | 328.00M | 48.00M | 827.00M | 1.02B | 937.00M |
| Tax Provision | 103.00M | 134.00M | -72.00M | -153.00M | 216.00M |
| Net Income | 225.00M | -86.00M | 899.00M | 1.17B | 721.00M |
| Diluted EPS | 1.07 | -0.42 | 3.28 | 4.43 | 3.45 |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | - | 11.73B | 13.25B | 15.67B | 17.19B |
| Cost of Revenue | - | 8.80B | 9.85B | 10.95B | 11.69B |
| Gross Profit | - | 2.93B | 3.40B | 4.72B | 5.50B |
| Operating Expenses | - | 3.58B | 3.84B | 3.36B | 3.30B |
| Operating Income | - | -659.00M | -446.00M | 1.36B | 2.20B |
| EBITDA | - | -158.00M | -309.00M | 1.50B | 2.36B |
| Interest Expense | - | 41.00M | 38.00M | 36.00M | 31.00M |
| Pretax Income | - | -370.00M | -505.00M | 1.34B | 2.22B |
| Tax Provision | - | 60.00M | 27.00M | 203.00M | 12.00M |
| Net Income | - | -430.00M | -532.00M | 1.14B | 2.21B |
| Diluted EPS | - | -2.93 | -2.73 | 5.50 | 10.51 |
Compounded Sales Growth
| 5 Years: | 13.59% |
| 1 Year: | 8.20% |
Compounded Profit Growth
| 5 Years: | 204.81% |
| 1 Year: | 222.40% |
Stock Price Performance
| 1 Year: | -25.18% |
| 6 Months: | -14.99% |
| 3 Months: | -3.35% |
| 1 Month: | +12.20% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Total Assets | - | 7.64B | 8.35B | 12.01B | 15.02B |
| Current Assets | - | 4.35B | 5.26B | 8.38B | 10.50B |
| Cash & Equivalents | - | 2.48B | 3.11B | 4.78B | 5.26B |
| Inventory | - | - | - | - | - |
| Receivables | - | 502.00M | 602.00M | 540.00M | 536.00M |
| Total Liabilities | - | 5.24B | 5.82B | 6.48B | 6.69B |
| Current Liabilities | - | 3.52B | 4.09B | 4.45B | 6.08B |
| Long Term Debt | 1.20B | 1.13B | 1.20B | 1.54B | - |
| Total Debt | - | 1.68B | 1.70B | 2.08B | 1.96B |
| Total Equity | - | 2.40B | 2.52B | 5.53B | 8.33B |
| Shares Outstanding | - | 196.86M | 201.34M | 207.48M | 209.49M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | - | 46.00M | 680.00M | 2.30B | 2.93B |
| Investing Cash Flow | - | -423.00M | -217.00M | -1.49B | -1.78B |
| Financing Cash Flow | - | -40.00M | 234.00M | 729.00M | -381.00M |
| Capital Expenditure | - | -25.00M | -6.00M | -17.00M | -61.00M |
| Free Cash Flow | - | 21.00M | 674.00M | 2.28B | 2.87B |
| Net Change in Cash | - | -417.00M | 697.00M | 1.54B | 767.00M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 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
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 5.53% | 11.38M | $5.66B |
| 2 | Morgan Stanley | 4.07% | 8.38M | $4.17B |
| 3 | BAILLIE GIFFORD & CO | 3.99% | 8.22M | $4.09B |
| 4 | State Street Corporation | 2.30% | 4.73M | $2.35B |
| 5 | Price (T.Rowe) Associates Inc | 2.24% | 4.60M | $2.29B |
| 6 | Wellington Management Group, LLP | 1.61% | 3.32M | $1.65B |
| 7 | Jennison Associates LLC | 1.35% | 2.78M | $1.38B |
| 8 | Fisher Asset Management, LLC | 1.26% | 2.59M | $1.29B |
| 9 | WCM Investment Management, LLC | 1.17% | 2.42M | $1.20B |
| 10 | Massachusetts Financial Services Co. | 1.00% | 2.06M | $1.03B |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for SPOT
San Francisco Giants Call Up Hot-Hitting Outfielder Jonah Cox
Jonah Cox has hit his way from the ninth spot in the batting order in the minors to the San Francisco Giants. The 24-year-old outfielder may make his MLB debut today.
Madonna’s New No. 1 Marks An Important Return To The Top Spot
Madonna scores her first No. 1 on one of Billboard's radio charts in nearly two decades as "I Feel So Free" climbs to the Dance/Mix Show Airplay list's summit.