Full text
Earnings transcript
Read the complete earnings call transcript.
SPOT
Spotify Technology S.A.
$488.97
18.96
(4.03%)
| Exchange: | NYSE |
| Market Cap: | 100.67B |
| Shares Outstanding: | 167.779M |
About The Company
| Sector: | Communication Services | |||||
| Industry: | Internet Content & Information | |||||
| CEO: | Alex Norström | |||||
| Full Time Employees: | 7258 | |||||
| Address: |
| |||||
| Website: | https://www.spotify.com |
Spotify Technology S.A., together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices. The company also offers sales, marketing, contract research and development, and customer support services. As of December 31, 2021, its platform included 406 million monthly active users and 180 million premium subscribers in 184 countries and territories. The company was incorporated in 2006 and is based in Luxembourg, Luxembourg.
Click to read more…
Revenue Segmentation
EPS
Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.
Earnings Call
AI summary
Key takeaways
Short, structured highlights from the call so you can focus on what matters.
Log in to continue
Log in to read the full transcript and AI-generated earnings summaries.
Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 13,247,000 | 15,673,000 | 17,186,000 |
| Gross Profit | 3,397,000 | 4,724,000 | 5,496,000 |
| EBITDA | -309,000 | 1,498,000 | 2,357,000 |
| Operating Income | -446,000 | 1,365,000 | 2,198,000 |
| Net Income | -532,000 | 1,138,000 | 2,212,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 8,377,663.696 | 12,004,788.111 | 15,008,609.540 |
| Total Liabilities | 5,845,091.745 | 6,479,885.628 | 6,680,155.680 |
| Total Stockholders Equity | 2,532,571.951 | 5,524,902.483 | 8,325,455.135 |
| Total Debt | 1,702,434.415 | 2,000,964.682 | 2,323,010.893 |
| Cash and Cash Equivalents | 3,125,814.132 | 4,780,915.615 | 5,255,762.168 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 680,000 | 2,301,000 | 2,839,334.641 |
| Capital Expenditure | -6,000 | -17,000 | -58,592.490 |
| Free Cash Flow | 674,000 | 2,284,000 | 2,780,742.150 |
| Net Income | -532,000 | 1,138,000 | 2,124,698.317 |
| Net Change in Cash | 631,000 | 1,667,000 | 1,042,199.695 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 28,643,100.314 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 30,291,388.001 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 29,390,382.143 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 7,592,014.889 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 8,028,902.814 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 7,790,086.142 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 3,869,602.792 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 4,161,368.507 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 4,001,880.442 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 4,248,400.752 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 4,492,878.011 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 4,359,239.057 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 19.010 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 19.770 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 18.380 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 15 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 7 | Full Access | Full Access | Full Access | Full Access |
Log in to continue
Log in and subscribe to Full Access to see up to 5 years of analyst estimates.
Login — it's free(* All numbers are in thousands)
Current Key Metrics
Log in to continue
Log in to see all key valuation metrics and ratios for this symbol.
Login — it's freeForward P/E Ratios
Log in to continue
Log in with Full Access for forward P/E high/low estimates and the full multi-year table.
Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Revenue Growth: SPOT has demonstrated consistent revenue increases as per income statement data, supported by strong user growth and subscription model expansion. This aligns with industry trends in digital streaming within the Technology sector, reflecting SPOT's ability to capitalize on market demand.
- Strong Operating Cash Flow: Cash flow statements indicate healthy net cash provided by operating activities, suggesting operational efficiency and the ability to fund innovation without excessive reliance on external financing.
- Market Leadership in Streaming: As highlighted in the company profile, SPOT maintains a dominant position in the audio streaming industry, bolstered by a large user base and global presence across multiple regions, as seen in revenue geo segments.
Log in with Full Access for Weaknesses, Opportunities, Threats, and the complete SWOT.
At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates SPOT intrinsic value between $162.04 – $248.05 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about SPOT valuation
Is Spotify Technology S.A. (SPOT) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Spotify Technology S.A. (SPOT) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is SPOT a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether SPOT trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is SPOT’s P/E ratio?
You can see SPOT’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for SPOT?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is SPOT a good long-term investment?
Whether SPOT fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
SPOT
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
Daily snapshot
4.03
Trading Metrics:
| Open: | 465.23 | Previous Close: | 470.01 | |
| Day Low: | 462.33 | Day High: | 491.17 | |
| Year Low: | 405 | Year High: | 785 | |
| Price Avg 50: | 491 | Price Avg 200: | 615.02 | |
| Volume: | 1.361M | Average Volume: | 2.601M |
Log in to continue
Log in for multi-period charts (1W–5Y), period tabs, and the same layout as members.
Login — it's freeSPOT full analysis
Welcome to MARKETSNAP’s SWOT analysis for Spotify Technology S.A., better known to most of us as just Spotify. If you’re a long-term investor looking to dig into the streaming giant’s potential, you’re in the right place. Today, we’re breaking down Spotify’s strengths, weaknesses, opportunities, and threats with a conversational deep dive into their financials, recent developments, and what could shape their future. Let’s get started with a quick overview of where Spotify stands right now. Spotify, as you likely know,…
