Spotify Technology SA
Stock Watch
Stock Watch will tell you what changes at Spotify Technology SA.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Price history
Chart
Interactive price chart (TradingView).
52-week range: 412.80 $ to 656.70 $ · Last price: 593.40 $ (As of: October 30, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 10/31/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Internet Content & Information
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Spotify Technology SA SPOT | 122.0 | 44.2 | 28.3 | 33.1 | 15.8 | 9.7 | -9.6 |
| Alphabet Inc Class C GOOG | 3,421.2 | 21.2 | 17.9 | 60.9 | 36.1 | 15.1 | -1.1 |
| Alphabet Inc Class A GOOGL | 3,414.3 | 21.4 | 10.4 | 60.9 | 36.1 | 15.1 | -0.3 |
| Meta Platforms Inc. META | 1,565.7 | 22.8 | 15.3 | 81.0 | 40.6 | 22.2 | -7.4 |
| Nebius Group N.V. NBIS | 34.0 | – | 37.9 | 74.3 | – | – | 37.5 |
| Baidu Inc BIDU | 25.9 | – | 48.4 | 40.9 | 10.0 | -3.0 | -37.3 |
| Reddit, Inc. RDDT | 18.6 | 26.9 | 31.2 | 91.4 | 27.6 | 69.4 | -52.8 |
| Tencent Music Entertainment Group TME | 13.8 | 10.0 | 6.9 | 44.3 | 30.4 | 15.9 | -61.1 |
| Pinterest Inc PINS | 10.9 | 44.0 | 39.3 | 79.5 | -3.3 | 15.8 | -39.3 |
| Median of companies shown | 34.0 | 22.8 | 28.3 | 60.9 | 29.0 | 15.5 | -9.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 2,952 | -349 | -539 | -3.21 | 101 | -240 | 2,100 |
| 2017 | 4,090 | -378 | -1,235 | -6.93 | 179 | 1,182 | 3,107 |
| 2018 | 5,259 | -43 | -78 | -0.43 | 344 | 2,094 | 4,336 |
| 2019 | 6,764 | -73 | -186 | -1.03 | 573 | 2,037 | 5,122 |
| 2020 | 7,880 | -293 | -581 | -3.10 | 259 | 2,805 | 6,326 |
| 2021 | 9,668 | 94 | -34 | -0.18 | 361 | 2,119 | 7,170 |
| 2022 | 11,727 | -659 | -430 | -2.20 | 46 | 2,401 | 7,636 |
| 2023 | 13,247 | -446 | -532 | -2.73 | 680 | 2,523 | 8,346 |
| 2024 | 15,673 | 1,365 | 1,138 | 5.50 | 2,301 | 5,525 | 12,005 |
| 2025 | 17,186 | 2,198 | 2,212 | 10.51 | 2,933 | 8,329 | 15,015 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 1.76 | – | 4,242 | 15.60 | 8.70 | 883 | 877 |
| 2025: Q1 | 1.07 | 10.70 | 4,190 | 15.20 | 5.40 | 539 | 533 |
| 2025: Q2 | -0.42 | -131.50 | 4,193 | 10.10 | -2.10 | 709 | 699 |
| 2025: Q3 | 4.21 | 190.70 | 4,272 | 7.10 | 21.00 | 829 | 806 |
| 2025: Q4 | 5.52 | 214.70 | 4,531 | 6.80 | 25.90 | 856 | 834 |
| 2026: Q1 | 3.45 | 221.90 | 4,533 | 8.20 | 15.90 | 850 | 845 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 2 of our scanner strategies — each hit links to the scanner.
Backtested Scanners
Quality & Balance Sheet
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 11.87 | 9.88 – 13.68 | 19,510 | 12.9% | 28 |
| 12/31/2027 | 15.27 | 12.55 – 18.09 | 22,419 | 28.7% | 27 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 16.5% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $3.20B |
|---|---|
| Market cap | $122.02B |
| Free cash flow in year ten | $14.73B |
| Terminal value as a share of market value | 63.6% |
For comparison: over the past five years free cash flow grew by 73.8% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Not yet rated — we only show a category once an SEC-backed file with at least two cited passages is available.
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 13.6%
- More than 10% revenue growth is expected for the coming year 14.3%
- Share count grows by less than 3% a year 2.4%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 26.4%
- Gross margin at 40% or higher and without meaningful erosion 32.0%
- Goodwill from acquisitions does not grow faster than revenue 7.2%
- Net debt below twice EBITDA 7,511 m net cash
- Operating cash flow covers the profits of the last three years 3,096 m
- Return on capital at 15% or higher, or up versus two years ago 24.6%
- Insiders hold at least 10% or are net buyers 23.5%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
7/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 21.6%
- Exp. sales growth 3Y > 5% 14.2%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 20.6%
- Net debt < 4x EBIT -3.4x
- EBIT positive, 10Y straight 3
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 30.7%
- ROCE > 15% 24.6%
- Expected return > 10% 23.4%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Sell | 1,517 | 533.97 | 810,038 |
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Sell | 2,610 | 533.03 | 1,391,197 |
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Sell | 1,850 | 532.14 | 984,464 |
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Sell | 1,666 | 531.03 | 884,688 |
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Sell | 1,818 | 530.21 | 963,926 |
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Sell | 6,282 | 529.11 | 3,323,845 |
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Sell | 4,081 | 527.95 | 2,154,574 |
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Sell | 1,086 | 527.05 | 572,381 |
| Oct 12, 2026 | Soderstrom Gustav | Co-Chief Executive Officer | Other | 20,910 | 151.25 | 3,162,638 |
| Oct 1, 2026 | Giraldo John P | Chief Accounting Officer | Other | 42 | 487.38 | 20,470 |
The company
About the Company
Spotify Technology S.A.
- Employees
- 7,000
- Headquarters
- Stockholm, Sweden
- Address
- Regeringsgatan 19, 111 53 Stockholm, Sweden
- Website
- spotify.com
- IPO Date
- 04/03/2018
- ISIN
- LU1778762911
Management
| Name | Title | Birth Year |
|---|---|---|
| Daniel G. Ek | Founder & Executive Chairman | 1983 |
| Alex Norström | Co-CEO & Director | 1977 |
| Gustav Söderström | Co-CEO & Director | 1977 |
| Sven Martin Lorentzon | Co-Founder & Director | 1969 |
| Christian Luiga | Chief Financial Officer | 1968 |
| Dustee Tucker Jenkins | Chief Public Affairs Officer | 1979 |
| John P. Giraldo | Chief Accounting Officer | 1968 |
| Bryan Daniel Goldberg | Head of Investor Relations | – |
| Aditi Shorewal | Head of PR & Communications | – |
| Tanmaya Trivedi | Director of Sales | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Data as of: October 30, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.