Spotify Technology S.A. — SPOT
| Close Price | Market Cap | P/E Ratio | Forward P/E Ratio | Implied Growth* | Implied Forward Growth* | Dividend | P/B Ratio |
|---|---|---|---|---|---|---|---|
| $514.94 | $106.02B | 41.4 | 26.8 | 19.2% | 14.3% | - | 10.8 |
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Revenue & Net Income
| Date | Revenue | Net_Income | EPS | Last_Updated | Revenue_Change | Net_Income_Change | EPS_Change | |
|---|---|---|---|---|---|---|---|---|
| 0 | 2020-12-31 | $7,880M | $-581M | $-3.10 | 2024-02-03 03:17:10 | N/A | N/A | N/A |
| 1 | 2021-12-31 | $9,668M | $-34M | $-0.18 | 2026-02-11 08:49:01 | 22.7% | -94.1% | -94.2% |
| 2 | 2022-12-31 | $11,727M | $-430M | $-2.23 | 2026-02-27 22:06:07 | 21.3% | 1164.7% | 1138.9% |
| 3 | 2023-12-31 | $13,247M | $-532M | $-2.73 | 2026-02-27 22:06:07 | 13.0% | 23.7% | 22.4% |
| 4 | 2024-12-31 | $15,673M | $1,138M | $5.67 | 2026-02-27 22:06:07 | 18.3% | -313.9% | -307.7% |
| 5 | 2025-12-31 | $17,186M | $2,212M | $10.77 | 2026-02-27 22:06:07 | 9.7% | 94.4% | 89.9% |
| 6 | TTM 2025-12-31 | $17,186M | $2,212M | $12.44 | 2026-02-12 08:47:10 | 0.0% | 0.0% | 15.5% |
EPS
Forecasts
Y/Y % Change
SPOT Year-over-Year Growth
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | Average | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (%) | 22.7% | 21.3% | 13.0% | 18.3% | 9.7% | 34.9% | 11.7% | 18.8% | |
| Revenue Analysts (#) | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 | |
| EPS Growth (%) | -94.1% | 1164.7% | 23.7% | -313.9% | 94.4% | 45.9% | 24.0% | 135.0% | |
| EPS Analysts (#) | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 7 |
Expenses
| Year | Revenue ($) | Cost of Revenue ($) | R&D ($) | Sales & Marketing ($) | G&A ($) | SG&A ($) | Facilities / D&A ($) |
|---|---|---|---|---|---|---|---|
| 2022 | $11.7B | $8.6B | $1.4B | $1.6B | $626.0M | $2.2B | $171.0M |
| 2023 | $13.2B | $9.7B | $1.7B | $1.5B | $585.0M | $2.1B | $158.0M |
| 2024 | $15.7B | $10.8B | $1.5B | $1.4B | $481.0M | $1.9B | $121.0M |
| 2025 | $17.2B | $11.6B | $1.4B | $1.4B | $479.0M | $1.9B | $102.0M |
| TTM | $17.2B | $11.6B | $1.4B | $1.4B | $479.0M | $1.9B | $102.0M |
| Year | Revenue Change (%) | Cost of Revenue Change (%) | R&D Change (%) | Sales & Marketing Change (%) | G&A Change (%) | SG&A Change (%) | Facilities / D&A Change (%) |
|---|---|---|---|---|---|---|---|
| 2023 | 12.96 | 12.31 | 24.37 | -2.48 | -6.55 | -3.64 | -7.60 |
| 2024 | 18.31 | 11.72 | -13.86 | -9.20 | -17.78 | -11.57 | -23.42 |
| 2025 | 9.65 | 7.02 | -6.26 | 2.44 | -0.42 | 1.71 | -15.70 |
| TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
No unmapped expenses.
Balance Sheet
| Metric | Value | |
|---|---|---|
| 0 | Total Assets | $14,689M |
| 1 | Cash | $5,456M |
| 2 | Total Liabilities | $6,910M |
| 3 | Total Debt | $2,246M |
| 4 | Total Equity | $7,779M |
| 5 | Debt to Equity Ratio | 0.29 |
EPS & Dividend
Valuation
| Share Price | Treasury Yield | Estimates | Fair Value (P/E) | Fair Value (P/S) | Current P/S | Current P/E |
|---|---|---|---|---|---|---|
| $514.94 | 4.0% | Nicks Growth: 9% Nick's Expected Margin: 10% FINVIZ Growth: 22% |
Nicks: 16 Finviz: 54 |
Nick's: 1.635 | 6.2 | 41.4 |
| Basis | Year | Nicks Valuation | Nicks vs Share Price | Finviz Valuation | Finviz vs Share Price |
|---|---|---|---|---|---|
| $12.44 EPS | TTM | $203.37 | -60.5% | $669.42 | 30.0% |
| $15.67 EPS | 2026 | $256.17 | -50.3% | $843.23 | 63.8% |
| $19.43 EPS | 2027 | $317.64 | -38.3% | $1045.56 | 103.0% |
Implied Growth
| Average | Median | Std Dev | Current | Percentile | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | |
| Timeframe | ||||||||||
| 1 Year | 30.43% | 24.09% | 31.43% | 26.39% | 5.37% | 4.53% | 18.84% | 13.96% | 6.8% | 7.3% |
| 3 Years | 30.43% | 24.09% | 31.43% | 26.39% | 5.37% | 4.53% | 18.84% | 13.96% | 6.8% | 7.3% |
| 5 Years | 30.43% | 24.09% | 31.43% | 26.39% | 5.37% | 4.53% | 18.84% | 13.96% | 6.8% | 7.3% |
| 10 Years | 30.43% | 24.09% | 31.43% | 26.39% | 5.37% | 4.53% | 18.84% | 13.96% | 6.8% | 7.3% |