Spotify vs Netflix: financial comparison

Compare Spotify and Netflix side by side: valuation, margins, growth, cash and dividends, with the quarterly history of both. Yahoo Finance data, free and no sign-up.

SPOT

Spotify

SPOT

500.90 EUR

See the Spotify breakdown →
NFLX

Netflix

NFLX

71.73 USD

See the Netflix breakdown →

Spotify vs Netflix: key metrics

SpotifyEURNetflixUSD
Valuation
Market cap102.98 B EUR298.66 B USD
P/E (TTM)27.4522.56
Forward P/E28.3218.81
Price / Sales5.696.17
EV / EBITDA35.9820.91
Price / Book10.519.91
Margins & growth
Profit margin+18.43%+28.22%
Operating margin+13.71%+33.38%
Quarterly revenue (YoY)+13.93%+13.37%
Quarterly earnings (YoY)-733.72%+8.83%
Cash flow
FCF yield+1.5%+8.5%
Stock-based compensation274.00 M EUR487.33 M USD
Balance
Cash6.98 B EUR9.13 B USD
Debt466.00 M EUR16.65 B USD
Net position6.52 B EUR-7.53 B USD
Dividend
Dividend yield——
Payout ratio0%0%

Each column shows figures in that company's reporting currency (shown in the header); they are not converted. Ratios and percentages are currency-independent.

Price, rebased to 100

Spotify218Netflix121
10020030020212026

P/E (TTM)

Spotify31.9×Netflix22.6×
5010020252026

Both curves start at 100 on the same day, so this compares returns rather than prices. Each week's P/E is the price divided by the earnings per share already reported by that date; loss-making weeks are not drawn.

What analysts expect

Consensus revenue and earnings per share for the periods not yet reported.

Revenue forecast · Spotify

ReportedEstimate
02B4BQ3 25: 4.27 B EURQ3 25Q4 25: 4.53 B EURQ4 25Q1 26: 4.53 B EURQ1 26Q2 26: 4.78 B EURQ2 26Q3 26 · Estimate: 4.98 B EUR (4.94 B EUR – 5.01 B EUR)Q3 26Q4 26 · Estimate: 5.24 B EUR (5.14 B EUR – 5.36 B EUR)Q4 26EUR

Consensus of 27 analysts for Q3 26 · +16.66% year on year

Revenue forecast · Netflix

ReportedEstimate
05B10BQ3 25: 11.51 B USDQ3 25Q4 25: 12.05 B USDQ4 25Q1 26: 12.25 B USDQ1 26Q2 26: 12.56 B USDQ2 26Q3 26 · Estimate: 12.88 B USD (12.80 B USD – 13.03 B USD)Q3 26Q4 26 · Estimate: 13.53 B USD (13.30 B USD – 13.72 B USD)Q4 26USD

Consensus of 37 analysts for Q3 26 · +11.9% year on year

EPS forecast · Spotify

ReportedEstimate
024Q3 25: 3.28 · expected 2.13 (+53.63%)Q3 25Q4 25: 4.43 · expected 2.84 (+55.84%)Q4 25Q1 26: 3.45 · expected 2.92 (+17.99%)Q1 26Q2 26: 2.61 · expected 2.80 (-6.65%)Q2 26Q3 26 · Estimate: 3.27 (2.88 – 3.82)Q3 26Q4 26 · Estimate: 3.90 (3.60 – 4.20)Q4 26

Consensus of 19 analysts for Q3 26 · -12.92% year on year · adjusted earnings

EPS forecast · Netflix

ReportedEstimate
00.51Q3 25: 0.59 · expected 0.70 (-15.79%)Q3 25Q4 25: 0.56 · expected 0.55 (+1.43%)Q4 25Q1 26: 1.23 · expected 1.25 (-1.4%)Q1 26Q2 26: 0.80 · expected 0.79 (+1.45%)Q2 26Q3 26 · Estimate: 0.82 (0.79 – 0.87)Q3 26Q4 26 · Estimate: 0.73 (0.67 – 0.82)Q4 26

Consensus of 34 analysts for Q3 26 · +40.09% year on year · adjusted earnings

Analyst consensus from Yahoo Finance. The dashed bar is the average and the whisker runs from the lowest analyst to the highest. On periods already reported, the green or red line marks what had been expected: below the bar means the company beat it. EPS is measured on an adjusted basis, which is what analysts forecast against and is not the accounting profit in the statements.

Compared over time

Revenue

SpotifyNetflix
05B10BQ1 22 · Netflix: 6.90 B EURQ1 22Q2 22 · Netflix: 6.99 B EURQ3 22 · Netflix: 6.96 B EURQ4 22 · Netflix: 6.89 B EURQ4 22Q1 23 · Netflix: 7.16 B EURQ2 23 · Netflix: 7.19 B EURQ3 23 · Netflix: 7.50 B EURQ3 23Q4 23 · Netflix: 7.75 B EURQ1 24 · Netflix: 8.22 B EURQ2 24 · Netflix: 8.39 B EURQ2 24Q3 24 · Netflix: 8.62 B EURQ2 25 · Spotify: 4.19 B EURQ2 25 · Netflix: 9.72 B EURQ3 25 · Spotify: 4.27 B EURQ3 25 · Netflix: 10.10 B EURQ3 25Q4 25 · Spotify: 4.53 B EURQ4 25 · Netflix: 10.58 B EURQ1 26 · Spotify: 4.53 B EURQ1 26 · Netflix: 10.75 B EURQ2 26 · Spotify: 4.78 B EURQ2 26 · Netflix: 11.02 B EURQ2 26EUR

Net income

SpotifyNetflix
02B4BQ1 22 · Netflix: 1.40 B EURQ1 22Q2 22 · Netflix: 1.26 B EURQ3 22 · Netflix: 1.23 B EURQ4 22 · Netflix: 48.58 M EURQ4 22Q1 23 · Netflix: 1.15 B EURQ2 23 · Netflix: 1.31 B EURQ3 23 · Netflix: 1.47 B EURQ3 23Q4 23 · Netflix: 823.06 M EURQ1 24 · Netflix: 2.05 B EURQ2 24 · Netflix: 1.88 B EURQ2 24Q3 24 · Netflix: 2.07 B EURQ2 25 · Spotify: -86.00 M EURQ2 25 · Netflix: 2.74 B EURQ3 25 · Spotify: 899.00 M EURQ3 25 · Netflix: 2.24 B EURQ3 25Q4 25 · Spotify: 1.17 B EURQ4 25 · Netflix: 2.12 B EURQ1 26 · Spotify: 721.00 M EURQ1 26 · Netflix: 4.64 B EURQ2 26 · Spotify: 545.00 M EURQ2 26 · Netflix: 2.99 B EURQ2 26EUR

Free cash flow

SpotifyNetflix
02B4BQ1 22 · Netflix: 703.56 M EURQ1 22Q2 22 · Netflix: 11.17 M EURQ3 22 · Netflix: 414.10 M EURQ4 22 · Netflix: 291.60 M EURQ4 22Q1 23 · Netflix: 1.86 B EURQ2 23 · Netflix: 1.18 B EURQ3 23 · Netflix: 1.66 B EURQ3 23Q4 23 · Netflix: 1.39 B EURQ1 24 · Netflix: 1.88 B EURQ2 24 · Netflix: 1.06 B EURQ2 24Q3 24 · Netflix: 1.93 B EURQ2 25 · Spotify: 699.00 M EURQ2 25 · Netflix: 1.99 B EURQ3 25 · Spotify: 806.00 M EURQ3 25 · Netflix: 2.33 B EURQ3 25Q4 25 · Spotify: 834.00 M EURQ4 25 · Netflix: 1.64 B EURQ1 26 · Spotify: 831.00 M EURQ1 26 · Netflix: 4.47 B EURQ2 26 · Spotify: 796.00 M EURQ2 26 · Netflix: 1.34 B EURQ2 26EUR

EPS

SpotifyNetflix
-50Q1 22 · Netflix: 3.10Q1 22Q2 22 · Netflix: 2.81Q3 22 · Netflix: 2.72Q4 22 · Netflix: 0.11Q4 22Q1 23 · Netflix: 2.53Q2 23 · Netflix: 2.89Q3 23 · Netflix: 3.27Q3 23Q4 23 · Netflix: -7.64Q1 24 · Netflix: 4.63Q2 24 · Netflix: 4.28Q2 24Q3 24 · Netflix: 4.74Q2 25 · Spotify: -0.42Q2 25 · Netflix: 0.63Q3 25 · Spotify: 3.28Q3 25 · Netflix: 0.52Q3 25Q4 25 · Spotify: 4.43Q4 25 · Netflix: 0.49Q1 26 · Spotify: 3.45Q1 26 · Netflix: 1.08Q2 26 · Spotify: 2.61Q2 26 · Netflix: 0.70Q2 26

EBITDA

SpotifyNetflix
03B5B8BQ1 22 · Netflix: 1.80 B EURQ1 22Q2 22 · Netflix: 1.46 B EURQ3 22 · Netflix: 1.42 B EURQ4 22 · Netflix: 564.55 M EURQ4 22Q1 23 · Netflix: 1.58 B EURQ2 23 · Netflix: 1.68 B EURQ3 23 · Netflix: 1.76 B EURQ3 23Q4 23 · Netflix: 1.39 B EURQ1 24 · Netflix: 2.39 B EURQ2 24 · Netflix: 2.36 B EURQ2 24Q3 24 · Netflix: 2.62 B EURQ2 25 · Spotify: 82.00 M EURQ2 25 · Netflix: 6.78 B EURQ3 25 · Spotify: 859.00 M EURQ3 25 · Netflix: 6.47 B EURQ3 25Q4 25 · Spotify: 1.05 B EURQ4 25 · Netflix: 6.89 B EURQ1 26 · Spotify: 970.00 M EURQ1 26 · Netflix: 9.76 B EURQ2 26 · Spotify: 757.00 M EURQ2 26 · Netflix: 7.60 B EURQ2 26EUR

Netflix's figures were converted from USD to EUR at the current rate (0.8776) so both fit one axis.

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

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