Spotify Technology

Spotify Technology

Entertainment
Spotify is the leading global music streaming service provider, with over 700 million monthly active users and 280 million paying subscribers, with the latter constituting the firm’s premium segment. Most of the firm’s revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.

$122B

Market Cap • 10/30/2026

2006

(20 years)

Founded

2018

(8 years ago)

IPO

NYSE

Listing Exchange

Flag of Sweden

Sweden

Country

Valuation

P/B

12,3

P/S

5,6

P/EBITDA

37,1

P/OCF

32,6

P/FCF

33,2

P/E

39,6

BVPS

48,2

EPS

16,3

Market Cap

Market Cap

122B

EV

111,2B

EV/Revenue

5,1

EV/EBITDA

33,8

EV/EBIT

35,2

Payout

Dividend Per Share

0

Dividend Yield

0%

Buyback Yield

1,1%

Total Yield

1,1%

Payout

0%

Retained Earnings

1,1B

Profitability

Gross Margin

33,1%

EBITDA Margin

15,2%

EBIT Margin

14,6%

Net Margin

15,8%

D&A/EBITDA

0%

R&D/Revenue

7,6%

Capex/Revenue

0,3%

Capex/D&A

47,1%

Capex/OCF

1,6%

SBC/OCF

8,8%

% PPE

2,9%

% Goodwill

7,8%

ROE

36%

ROIC

48,8%

Growth

CAGR Revenue 5Y

14,9%

CAGR Op. Income 5Y

148,4%

CAGR OCF 5Y

55,4%

Leverage

N.D./EBITDA

—

Debt/Equity

0%

Current Ratio

2,1

Quick Ratio

2,1

Interest Coverage

2612%

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