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Spotify Technology S.A. logo

Spotify Technology S.A.

SPOT

NYSECommunication ServicesInternet Content & Information

Open in GoAI

Previous close

$533.72

+$0.59 · +0.11%

Aug 21, 4:00 PM ET

SPOT company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

90

Deep Value

Momentum

39

Weakening

Sentiment

65

Bullish

Risk resilience

54

Elevated Risk

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Thesis, catalysts, evidence, and risk analysis.

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AI-generated, informational only, and not investment advice.

Company profile

Company website

Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates in two segments, Premium and Ad-Supported. The Premium segment offers online and offline streaming access to its catalog of music and podcasts, including video, lossless music, and audiobooks in select markets through subscription offerings primarily sold directly to end users and partners. The Ad-Supported segment provides limited on-demand online access to its catalog of music and online and offline access to its catalog of podcasts on computers, tablets, mobile devices, and other smart devices. The company also offers sales, distribution and marketing, contract research and development, and customer and other support services. Spotify Technology S.A. was incorporated in 2006 and is headquartered in Stockholm, Sweden.

Industry
Internet Content & Information
Sector
Communication Services
Headquarters
SE
CEO
Alex Norström
Listed since
Apr 3, 2018
Employees
7,000

Market position

Day range

Current $533.72

52-week range

Current $533.72

Open
$533.22
Previous close
$533.13
Volume
1.44M
0.68× average
Average volume
2.1M
Average daily volume
Market cap
109.72B USD
Beta
1.58
Market reference 1
50-day average
$486.34
+9.74% above average
200-day average
$511.51
+4.34% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
98.59B EUR
P/E (TTM)
27.43×
P/B (TTM)
9.81×
P/S (TTM)
5×
EV / EBITDA
41.83×
Earnings yield
2.18%
Free cash flow yield
2.83%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
32.82%
Operating margin
14.61%
Net margin
18.18%
Return on equity
26.57%
Return on assets
14.74%
Return on invested capital
21.05%

Financial health

Debt / equity
0.06×
Current ratio
1.72×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends36%21%6%-9%Gross margin, FY2021: 26.80%Gross margin, FY2022: 24.95%Gross margin, FY2023: 25.64%Gross margin, FY2024: 30.14%Gross margin, FY2025: 31.98%Operating margin, FY2021: 0.97%Operating margin, FY2022: -5.62%Operating margin, FY2023: -3.37%Operating margin, FY2024: 8.71%Operating margin, FY2025: 12.79%Net margin, FY2021: -0.35%Net margin, FY2022: -3.67%Net margin, FY2023: -4.02%Net margin, FY2024: 7.26%Net margin, FY2025: 12.87%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 26.80%. Gross margin FY2022 24.95%. Gross margin FY2023 25.64%. Gross margin FY2024 30.14%. Gross margin FY2025 31.98%. Operating margin FY2021 0.97%. Operating margin FY2022 -5.62%. Operating margin FY2023 -3.37%. Operating margin FY2024 8.71%. Operating margin FY2025 12.79%. Net margin FY2021 -0.35%. Net margin FY2022 -3.67%. Net margin FY2023 -4.02%. Net margin FY2024 7.26%. Net margin FY2025 12.87%.

Income trends

Revenue

17.19B EUR+9.65%

Operating income

2.2B EUR+61.03%

Net income

2.21B EUR+94.38%
Income trends across reported periods18.97B EUR11.83B EUR4.69B EUR−2.44B EURRevenue, FY2021: 9.67B EURRevenue, FY2022: 11.73B EURRevenue, FY2023: 13.25B EURRevenue, FY2024: 15.67B EURRevenue, FY2025: 17.19B EUROperating income, FY2021: 94M EUROperating income, FY2022: −659M EUROperating income, FY2023: −446M EUROperating income, FY2024: 1.37B EUROperating income, FY2025: 2.2B EURNet income, FY2021: −34M EURNet income, FY2022: −430M EURNet income, FY2023: −532M EURNet income, FY2024: 1.14B EURNet income, FY2025: 2.21B EURFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 9.67B EUR. Revenue FY2022 11.73B EUR. Revenue FY2023 13.25B EUR. Revenue FY2024 15.67B EUR. Revenue FY2025 17.19B EUR. Operating income FY2021 94M EUR. Operating income FY2022 −659M EUR. Operating income FY2023 −446M EUR. Operating income FY2024 1.37B EUR. Operating income FY2025 2.2B EUR. Net income FY2021 −34M EUR. Net income FY2022 −430M EUR. Net income FY2023 −532M EUR. Net income FY2024 1.14B EUR. Net income FY2025 2.21B EUR.
Metric (EUR)FY2025FY2024FY2023FY2022FY2021
Revenue17.19B EUR15.67B EUR13.25B EUR11.73B EUR9.67B EUR
Cost of goods sold11.69B EUR10.95B EUR9.85B EUR8.8B EUR7.08B EUR
Gross profit5.5B EUR4.72B EUR3.4B EUR2.93B EUR2.59B EUR
Research and development1.39B EUR1.49B EUR1.73B EUR1.39B EUR912M EUR
Selling, general, and administrative1.91B EUR1.87B EUR2.12B EUR2.2B EUR1.59B EUR
Operating expenses3.3B EUR3.36B EUR3.84B EUR3.59B EUR2.5B EUR
Interest income245M EUR223M EUR131M EUR47M EUR11M EUR
Interest expense31M EUR36M EUR38M EUR41M EUR40M EUR
Depreciation and amortization102M EUR121M EUR158M EUR171M EUR127M EUR
Operating income2.2B EUR1.37B EUR−446M EUR−659M EUR94M EUR
Net income2.21B EUR1.14B EUR−532M EUR−430M EUR−34M EUR

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
45%
5 beats, 6 misses, 0 met estimates
Average EPS surprise
-33.70%
11 comparable reports
Latest EPS result
3.03
Estimate 3.27 · Miss by 7.34%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates5.613.431.25-0.93Q1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 1.88, estimate 2.06, surprise -8.74%, Miss. Q2 2025, reported Apr 29, 2025: actual 1.13, estimate 2.37, surprise -52.32%, Miss. Q3 2025, reported Jul 29, 2025: actual -0.48, estimate 2.3, surprise -120.87%, Miss. Q4 2025, reported Nov 4, 2025: actual 3.83, estimate 2.29, surprise +67.25%, Beat. Q1 2026, reported Feb 10, 2026: actual 5.16, estimate 3.21, surprise +60.75%, Beat. Q2 2026, reported Apr 28, 2026: actual 4.04, estimate 3.43, surprise +17.78%, Beat. Q3 2026, reported Aug 4, 2026: actual 3.03, estimate 3.27, surprise -7.34%, Miss. Q4 2026, reported Nov 3, 2026: actual —, estimate 3.26, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates6.06B5.39B4.73B4.06BQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 4.39B USD, estimate 4.3B USD, surprise +2.21%, Beat. Q2 2025, reported Apr 29, 2025: actual 4.59B USD, estimate 4.54B USD, surprise +1.09%, Beat. Q3 2025, reported Jul 29, 2025: actual 4.94B USD, estimate 5.02B USD, surprise -1.62%, Miss. Q4 2025, reported Nov 4, 2025: actual 5B USD, estimate 4.97B USD, surprise +0.74%, Beat. Q1 2026, reported Feb 10, 2026: actual 5.32B USD, estimate 5.31B USD, surprise +0.17%, Beat. Q2 2026, reported Apr 28, 2026: actual 5.24B USD, estimate 5.23B USD, surprise +0.15%, Beat. Q3 2026, reported Aug 4, 2026: actual 5.46B USD, estimate 5.47B USD, surprise -0.32%, Miss. Q4 2026, reported Nov 3, 2026: actual —, estimate 5.82B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$602.5

12.89% upside
Past 12 months12-month forecastHigh $720Average $602.5Low $530

Rating distribution

53 ratings
Strong buy00%
Buy3362%
Hold1834%
Sell24%
Strong sell00%

SPOT news

businesswire.com

Spotify Upsizes Share Repurchase Program by $1.5 Billion

NEW YORK--(BUSINESS WIRE)--Spotify Technology S.A. (NYSE: SPOT) (the “Company”) today announced that its Board of Directors has approved an increase in its share repurchase program by an additional $1.5 billion. With…

Read source
zacks.com

SPOT Gains 12.5% in a Month as Growth Strength Meets Valuation Risk

Spotify shares have risen 12.5% in four weeks as record margins, subscriber growth and pricing gains offset valuation and reinvestment risks.

Read source
zacks.com

Is Spotify Stock Worth Buying as Growth Meets a Premium Valuation?

SPOT's earnings growth, cash flow and expanding monetization support the bull case, but its premium valuation raises the bar for execution.

Read source
gurufocus.com

Spotify Technology SA (SPOT) Shares Surge 3.3% -- What GF Score of 77 Tells Investors

On August 19, 2026, Spotify Technology SA (SPOT) shares rose 3.3% to $533.37. The stock has shown considerable volatility over the past year, trading within a r

Read source
schaeffersresearch.com

Buy Signal Flashing for Surging Spotify Stock

Music streaming stock Spotify Technology (NYSE:SPOT) is trading 4.5% higher at $539.33 this afternoon, extending yesterday's gains and eyeing its highest close since April.

Read source
nytimes.com

AI Slop Is Everywhere. Spotify, LinkedIn and Others Have Had Enough.

Spotify, LinkedIn and others are trying to dig out of a digital sewage heap full of low-quality content made with artificial intelligence.

Read source

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ETFs holding SPOT

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Russell 1000 Growth ETF logoVanguard Russell 1000 Growth ETFVONG
Market value
126.82M
Weight
0.25%
AUM
51.6B USD
Expense ratio
0.06%
Price / 1D
$125.99+0.37%
State Street SPDR Portfolio Developed World ex-US ETF logoState Street SPDR Portfolio Developed World ex-US ETFSPDW
Market value
97.37M
Weight
0.23%
AUM
41.92B USD
Expense ratio
0.03%
Price / 1D
$52.02+0.79%
Vanguard Total World Stock ETF logoVanguard Total World Stock ETFVT
Market value
66.97M
Weight
0.07%
AUM
97.9B USD
Expense ratio
0.06%
Price / 1D
$160.77+0.53%
JPMorgan International Research Enhanced Equity ETF logoJPMorgan International Research Enhanced Equity ETFJIRE
Market value
41.5M
Weight
0.37%
AUM
11.31B USD
Expense ratio
0.24%
Price / 1D
$85.32+0.84%
JPMorgan U.S. Quality Factor ETF logoJPMorgan U.S. Quality Factor ETFJQUA
Market value
26.28M
Weight
0.30%
AUM
8.69B USD
Expense ratio
0.12%
Price / 1D
$74.75+0.63%
Dimensional U.S. Equity ETF logoDimensional U.S. Equity ETFDFUS
Market value
23.16M
Weight
0.11%
AUM
21.52B USD
Expense ratio
0.09%
Price / 1D
$83.64+0.43%
ARK Next Generation Internet ETF logoARK Next Generation Internet ETFARKW
Market value
22.04M
Weight
1.24%
AUM
1.61B USD
Expense ratio
0.76%
Price / 1D
$155.49+2.72%
Vanguard ESG U.S. Stock ETF logoVanguard ESG U.S. Stock ETFESGV
Market value
17.89M
Weight
0.14%
AUM
13.2B USD
Expense ratio
0.09%
Price / 1D
$135.75+0.56%

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