Spotify (SPOT) valuation

Run six valuation models on Spotify with live data: DCF, Reverse DCF, Graham number, Monte Carlo, scenarios and sum-of-the-parts (NAV).

SPOT
SPOT

Spotify

SPOT · Communication Services

Current price

490,01 €

You're trying every model for free, no account needed. Sign up to save your analyses →

Valuation

Market cap
€100.74B
PE (TTM | NTM | +1y)
26.65 | 27.44 | 31.56
Price / Sales
5.56
EV / EBITDA
35.96
Price / Book
10.90

Cash flow

FCF yield(7.50 / 490.01)
+1.53%
SBC-adjusted FCF yield(6.16 / 490.01)
+1.26%
SBC impact
-17.78%

Margins & growth

Profit margin
+18.43%
Operating margin
+13.71%
Quarterly earnings (YoY)
-733.72%
Quarterly revenue (YoY)
+13.93%

Balance

Cash
€6.98B
Debt
€466M
Net position
€6.52B

Dividend

Dividend yield
Payout ratio
0%
Next payout

Price (1 year)

-33.13%
€734.92

Revenue

estimate
Q2 25: €4.19BQ2 25Q3 25: €4.27BQ3 25Q4 25: €4.53BQ4 25Q1 26: €4.53BQ1 26Q2 26: €4.78BQ2 26Q3 26 · estimate: €4.98BQ3 26€4.98B

EBITDA

Q2 25: €82MQ2 25Q3 25: €859MQ3 25Q4 25: €1.05BQ4 25Q1 26: €970MQ1 26Q2 26: €757MQ2 26€1.05B

Net income

Q2 25: -€86MQ2 25Q3 25: €899MQ3 25Q4 25: €1.17BQ4 25Q1 26: €721MQ1 26Q2 26: €545MQ2 26€1.17B

Free cash flow

Q2 25: €699MQ2 25Q3 25: €806MQ3 25Q4 25: €834MQ4 25Q1 26: €831MQ1 26Q2 26: €796MQ2 26€834M

EPS

estimate
Q2 25: -0.42Q2 25Q3 25: 3.28Q3 25Q4 25: 4.43Q4 25Q1 26: 3.45Q1 26Q2 26: 2.61Q2 26Q3 26 · estimate: 2.86Q3 264.43

Cash & debt

CashDebt
Q2 25 · Cash: €5.16BQ2 25 · Debt: €2.38BQ2 25Q3 25 · Cash: €5.46BQ3 25 · Debt: €2.25BQ3 25Q4 25 · Cash: €5.26BQ4 25 · Debt: €1.96BQ4 25Q1 26 · Cash: €5.26BQ1 26 · Debt: €476MQ1 26Q2 26 · Cash: €5.94BQ2 26 · Debt: €466MQ2 26€5.94B

Return of capital

DividendsBuybacks
Q3 25 · Buybacks: €58MQ3 25Q4 25 · Buybacks: €381MQ4 25Q1 26 · Buybacks: €306MQ1 26Q2 26 · Buybacks: €232MQ2 26€381M

Shares outstanding

Q4 18: 180.86MQ4 18Q4 19: 184.33MQ4 20: 190.21MQ4 20Q4 21: 192.15MQ4 22: 193.29MQ4 22Q4 23: 197.14MQ2 25: 205.78MQ2 25Q3 25: 206.08MQ4 25: 205.83MQ4 25Q1 26: 205.62MQ2 26: 205.58MQ2 26206.08M

Stock-based compensation

Q2 25: €73MQ2 25Q3 25: €75MQ3 25Q4 25: €57MQ4 25Q1 26: €56MQ1 26Q2 26: €86MQ2 26€86M

Operating expenses

R&DSG&A
Q2 25 · R&D: €415MQ2 25 · SG&A: €499MQ2 25Q3 25 · R&D: €309MQ3 25 · SG&A: €460MQ3 25Q4 25 · R&D: €290MQ4 25 · SG&A: €508MQ4 25Q1 26 · R&D: €331MQ1 26 · SG&A: €449MQ1 26Q2 26 · R&D: €403MQ2 26 · SG&A: €538MQ2 26€941M

Source: Yahoo Finance. Quarterly history grows automatically over time as new quarters are published.

Other comparisons

Popular companies