SPOT

$412.75

Public overview and default valuation.

Log in to track this stock.

Valuation Details
Default assumptions: 10Y forecast, 9% market return, 2.5% terminal growth, 10.00% trendline growth.
Want to create your own valuation? Create a free account.
$330.22

With 20% Margin of Safety (MoS):

$264.18
-36.00% downside
Capital Efficiency
Average Quarterly ROIC
63.55%
Cost of Capital (estimated)9%
Value StatusCreating Value

The company is earning a higher return on invested capital than it costs to raise that capital — a sign of strong, efficient value creation.

Complete historical ROIC is available with
.
Fundamental Score
68
BullishWeighted across 6 signals
DCF Discount
36.0% premium to price
0
FCF Yield
4.2% trailing FCF yield
55
ROIC vs WACC
ROIC 63.6% vs WACC 9.0% (7.1x)
100
Net Debt / FCF
Net cash position
100
Buybacks
Share count flat
50
FCF CAGR (5Y)
33.7% 5Y FCF CAGR
100
Strengths: ROIC vs WACC, Net Debt / FCF. Concerns: DCF Discount.
Narrative Score
81
Strong
Weighted across 6 recent drivers · Last 30 days+5 vs previous · +1 new driversVs 6-Month Baseline: High (100th pct)
Trend: Improving upConfidence: 100%Updated: 5h ago
Sources: 127 (News 119 · Analyst 8)
Drivers
92 news sentiment+2.2
24 regulatory scrutiny+0.6
2 upgrade headlines+0.1
Earnings beat+0.1
Analyst upgrades+0.1
7 analyst reiterations0.0
Other Metrics
P/E60.4
Profit Margin8.3%
Owner Earnings$1.83b
One Dollar Premise0.00%
Debt/Equity1.02
Current Ratio1.59
PEG0.710
Free Cash Flow (in millions)
2015201620172018201920202021202220232024
$13$151$265$552$834$397$525$84$808$3,559
How Intrinziq Estimates Fair Value

Intrinziq estimates Spotify Technology S.A.'s intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

Spotify Technology S.A.Communication Services

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.

Last updated: Feb 06, 2026
Data sources: Financial Modeling Prep
This valuation is based on assumptions and publicly available data. It is not financial advice or a recommendation to buy or sell any security. Always do your own research before making investment decisions.