US · SPOT
Spotify Technology S.A.
- Sector
- Communication Services · Internet Content & Information
- Headquarters
- Luxembourg City 1610
- Website
- spotify.com
Price · as of 2025-12-31
$441.51
Market cap 106.02B
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $378.00 | -14.38% |
| Intrinsic Value(DCF) | $289.98 | -34.32% |
| Graham-Dodd Method(GD) | $101.80 | -76.94% |
| Graham Formula(GF) | $160.90 | -63.56% |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | |||||
| 2012 | |||||
| 2013 | |||||
| 2014 | |||||
| 2015 | |||||
| 2016 | $0.00 | $0.00 | |||
| 2017 | $0.00 | $0.00 | |||
| 2018 | $140.18 | $92.64 | $2,596.01 | $10.30 | $0.00 |
| 2019 | $145.14 | $87.92 | $2,081.40 | $4.00 | $0.00 |
| 2020 | $279.89 | $133.67 | $808.74 | $0.00 | $0.00 |
| 2021 | $124.29 | $97.00 | $1,078.71 | $6.50 | $0.00 |
| 2022 | $121.66 | $79.55 | $1,099.68 | $0.00 | $0.00 |
| 2023 | $259.40 | $138.79 | $769.12 | $0.00 | $0.00 |
| 2024 | $532.10 | $318.93 | $1,081.38 | $58.40 | $170.80 |
| 2025 | $507.28 | $323.00 | $403.88 | $101.80 | $160.90 |
AI valuation
Our deep-learning model estimates Spotify Technology S.A.'s (SPOT) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $378.00
- Current price
- $441.51
- AI upside
- -14.38%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$289.98
-34.32% upside
Graham-Dodd
$101.80
-76.94% upside
Graham Formula
$160.90
-63.56% upside
Peer comparison
Same-industry comparables, ranked by market cap.
| Basic Info | Model Valuation | Core Valuation | Profitability | Leverage & Liquidity | Growth | Cash Flow | Dividends | Enterprise Value | Risk | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ticker | Company Name | Price | Market Cap | AI Upside | DCF Upside | GD Upside | GF Upside | P/E | P/B | P/S | EV/EBITDA | PEG | P/TBV | Gross Margin | Operating Margin | Net Margin | ROE | ROIC | ROA | Debt/Equity | Interest Coverage | Current Ratio | Quick Ratio | Net Debt/EBITDA | EPS Growth | Sales Growth | FCF Growth | FCF Yield | Op Cash Flow Ratio | Cash ROIC | Dividend Yield | Dividend Payout | Shareholder Yield | EV/EBIT | EV/FCF | EV/Sales | Altman Z-Score |
| SPOT | Spotify Technology S.A. | $441.51 | 106.02B | -27% | -34% | -77% | -64% | 41.91 | 10.69 | 5.39 | 32.89 | 50.21 | 12.36 | 31.98% | 12.79% | 12.87% | 30.68% | 332.39% | 15.73% | 0.28 | 8.26 | 1.72 | 1.71 | -1.18 | 8345.00% | 533.00% | 2175.00% | 3.12% | 0.47 | 440.17% | 0.00% | 0.00% | 0.65% | 38.79 | 29.45 | 4.96 | 9.84 |
| BIDU | Baidu, Inc. | $124.44 | 42.33B | -59% | -42% | -39% | -93% | 74.94 | 1.57 | 3.24 | 21.24 | — | 1.91 | 43.88% | -4.51% | 4.33% | 2.11% | -2.04% | 1.27% | 0.36 | -2.15 | 1.76 | 1.49 | 3.84 | -8216.00% | -304.00% | -12300.00% | -0.72% | -0.03 | -1.30% | 0.00% | 0.00% | 0.00% | -68.80 | -132.97 | 3.10 | 2.00 |
| CMCSA | Comcast Corporation | $30.96 | 112.81B | +90% | -46% | -46% | +43% | 5.60 | 1.16 | 0.91 | 4.59 | 18.56 | -2.41 | 60.07% | 16.71% | 16.01% | 21.92% | 8.41% | 7.42% | 1.14 | 4.69 | 0.88 | 0.70 | 2.18 | 3019.00% | -2.00% | 4132.00% | 19.54% | 1.00 | 11.67% | 4.37% | 24.50% | 10.75% | 10.30 | 9.73 | 1.72 | 1.41 |
| DASH | DoorDash, Inc. | $176.47 | 76.66B | -24% | +503% | -88% | -57% | 80.83 | 7.51 | 5.49 | 43.56 | 12.74 | 33.42 | 50.88% | 5.27% | 6.82% | 10.45% | 12.77% | 5.73% | 0.37 | — | 1.41 | 1.08 | -0.37 | 63448.00% | 2793.00% | 2064.00% | 2.89% | 0.40 | 38.56% | 0.00% | 0.00% | 0.00% | 101.77 | 33.85 | 5.36 | 5.37 |
| NBIS | Nebius Group N.V. | $91.19 | 21.89B | +98% | -38% | -78% | +51% | 226.45 | 4.99 | 43.47 | -126.12 | — | 5.01 | 68.63% | -112.53% | 19.20% | 2.59% | -15.69% | 1.27% | 1.06 | -10.31 | 3.08 | 2.88 | -6.30 | -10482.00% | 35089.00% | 55490.00% | -15.98% | 0.25 | -110.26% | 0.00% | 0.00% | 0.00% | -40.66 | -6.58 | 45.75 | 2.33 |
| RDDT | Reddit, Inc. | $145.81 | 27.85B | +3% | +5,444% | -80% | +45% | 51.76 | 9.36 | 12.45 | 54.52 | — | 9.55 | 91.18% | 20.07% | 24.05% | 20.94% | 111.60% | 19.00% | 0.01 | — | 11.56 | 11.31 | -2.03 | -19740.00% | 6940.00% | 21701.00% | 2.50% | 2.55 | 172.75% | 0.00% | 0.00% | 1.44% | 56.48 | 36.49 | 11.33 | 54.95 |
| T | AT&T Inc. | $28.00 | 198.5B | +2% | -49% | -83% | +18% | 8.59 | 1.82 | 1.60 | 6.52 | 8.25 | 4.80 | 79.77% | 19.23% | 17.42% | 21.76% | 8.23% | 5.74% | 1.57 | 3.55 | 0.91 | 0.50 | 2.85 | 10403.00% | 271.00% | 505.00% | 9.68% | 0.75 | 7.65% | 4.07% | 35.00% | 6.31% | 14.76 | 18.34 | 2.84 | 0.94 |
| TME | Tencent Music Entertainme… | $14.60 | 22.38B | -9% | -25% | -64% | -58% | 16.86 | 2.16 | 5.17 | 12.81 | 45.84 | 3.35 | 42.34% | 30.67% | 23.39% | 14.08% | 16.70% | 10.50% | 0.09 | 70.24 | 2.09 | 1.86 | -0.72 | 3677.00% | 234.00% | 4973.00% | 6.29% | 0.62 | 21.72% | 1.03% | 17.30% | 2.34% | 14.43 | 13.60 | 4.43 | 5.43 |
| VZ | Verizon Communications In… | $50.14 | 211.47B | +6% | -48% | — | -14% | 12.30 | 2.02 | 1.53 | 8.23 | — | 2.97 | 45.64% | 21.17% | 12.43% | 16.86% | 8.27% | 4.35% | 1.92 | 4.37 | 0.91 | 0.76 | 3.80 | -217.00% | 252.00% | 636.00% | 9.53% | 0.60 | 7.33% | 5.44% | 66.90% | 5.44% | 13.42 | 19.52 | 2.84 | 1.32 |
About Spotify Technology S.A.
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.
- CEO
- Alex Norström
- Employees
- 7.26K
- Beta
- 1.67
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($289.98 ÷ $441.51) − 1 = -34.32% (DCF, example).