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 |
|---|---|---|---|---|---|---|---|
| $693.69 | $142.75B | 154.2 | 77.9 | 35.5% | 26.9% | - | 21.5 |
Revenue & Net Income
| Date | Revenue | Net Income | EPS | Revenue Change | Net Income Change | EPS Change | |
|---|---|---|---|---|---|---|---|
| 0 | 2020-12-31 | $7.9B | $-581.0M | $-3.10 | N/A | N/A | N/A |
| 1 | 2021-12-31 | $9.7B | $-34.0M | $-0.18 | 22.7% | -94.1% | -94.2% |
| 2 | 2022-12-31 | $11.7B | $-430.0M | $-2.23 | 21.3% | 1164.7% | 1138.9% |
| 3 | 2023-12-31 | $13.2B | $-532.0M | $-2.73 | 13.0% | 23.7% | 22.4% |
| 4 | 2024-12-31 | $15.7B | $1.1B | $5.67 | 18.3% | -313.9% | -307.7% |
| 5 | TTM 2025-03-31 | $16.2B | $1.2B | $6.38 | 3.5% | 2.5% | 12.5% |
| 6 | Average | 15.8% | 156.6% | 154.4% |
EPS
Forecasts
Y/Y % Change
SPOT Year-over-Year Growth
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Average | |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth (%) | 22.7% | 21.3% | 13.0% | 18.3% | 27.0% | 14.1% | 19.4% | |
| Revenue Analysts (#) | 0 | 0 | 0 | 0 | 0 | 6 | 6 | |
| EPS Growth (%) | -94.1% | 1164.7% | 23.7% | -313.9% | 4.3% | 108.5% | 148.9% | |
| EPS Analysts (#) | 0 | 0 | 0 | 0 | 0 | 7 | 7 |
Expenses
| Year | Revenue ($) | Cost of Revenue ($) | R&D ($) | Sales & Marketing ($) | G&A ($) | SG&A ($) | Facilities / D&A ($) |
|---|---|---|---|---|---|---|---|
| 2021 | $9.7B | $7.0B | $912.0M | $1.1B | $450.0M | $1.6B | $127.0M |
| 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 |
| TTM | $16.6B | $11.2B | $1.5B | $1.4B | $493.0M | $1.9B | $113.0M |
| Year | Revenue Change (%) | Cost of Revenue Change (%) | R&D Change (%) | Sales & Marketing Change (%) | G&A Change (%) | SG&A Change (%) | Facilities / D&A Change (%) |
|---|---|---|---|---|---|---|---|
| 2022 | 21.30 | 24.17 | 52.08 | 38.50 | 39.11 | 38.68 | 34.65 |
| 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 |
| TTM | 6.00 | 3.86 | 1.75 | 0.79 | 2.49 | 1.23 | -6.61 |
No unmapped expenses.
Balance Sheet
| Metric | Value | |
|---|---|---|
| 0 | Total Assets | $12,687M |
| 1 | Cash | $5,019M |
| 2 | Total Liabilities | $6,440M |
| 3 | Total Debt | $2,102M |
| 4 | Total Equity | $6,247M |
| 5 | Debt to Equity Ratio | 0.34 |
EPS & Dividend
Valuation
| Share Price | Treasury Yield | Estimates | Fair Value (P/E) | Fair Value (P/S) | Current P/S | Current P/E |
|---|---|---|---|---|---|---|
| $707.42 | 4.4% | Nicks Growth: 9% Nick's Expected Margin: 10% FINVIZ Growth: 42% |
Nicks: 16 Finviz: 249 |
Nick's: 1.572 | 8.9 | 109.8 |
| Basis | Year | Nicks Valuation | Nicks vs Share Price | Finviz Valuation | Finviz vs Share Price |
|---|---|---|---|---|---|
| $6.38 EPS | TTM | $100.27 | -85.8% | $1,591.77 | 125.0% |
| $9.26 EPS | 2025 | $145.53 | -79.4% | $2,310.31 | 226.6% |
| $13.24 EPS | 2026 | $208.09 | -70.6% | $3,303.30 | 367.0% |
Implied Growth
| Average | Median | Std Dev | Current | Percentile | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | |
| Timeframe | ||||||||||
| 1 Year | 33.51% | 27.18% | 34.57% | 27.25% | 2.16% | 0.59% | 35.60% | 27.13% | 67.2% | 44.8% |
| 3 Years | 33.51% | 27.18% | 34.57% | 27.25% | 2.16% | 0.59% | 35.60% | 27.13% | 67.2% | 44.8% |
| 5 Years | 33.51% | 27.18% | 34.57% | 27.25% | 2.16% | 0.59% | 35.60% | 27.13% | 67.2% | 44.8% |
| 10 Years | 33.51% | 27.18% | 34.57% | 27.25% | 2.16% | 0.59% | 35.60% | 27.13% | 67.2% | 44.8% |