Spotify Technology S.A.
SPOTSESpotify 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.
Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.
- Sector
- Consumer Internet, Media & Gaming
- Sub-sector
- Streaming & Digital Media
- Listing
- SPOT
- Country
- SE
EV / LTM Revenue
Annual financials & analyst forecasts
| $M | CY2021 | CY2022 | CY2023 | CY2024 | CY2025 | CY2026E | CY2027E |
|---|---|---|---|---|---|---|---|
| Revenue YoY | — | 21% | 13% | 18% | 10% | 14% | 14% |
| Revenue | $9.67B | $11.73B | $13.25B | $15.67B | $17.19B | $19.62B | $22.46B |
| Gross Profit | $2.59B | $2.93B | $3.40B | $4.72B | $5.50B | — | — |
| Gross Profit Margin | 26.8% | 25.0% | 25.6% | 30.1% | 32.0% | — | — |
| EBITDA | $427M | ($141M) | ($298M) | $1.50B | $2.36B | $5.20B | $5.95B |
| EBITDA Margin | 4.4% | -1.2% | -2.2% | 9.6% | 13.7% | 26.5% | 26.5% |
| EBIT | $94M | ($659M) | ($446M) | $1.36B | $2.20B | $5.24B | $6.00B |
| Net Income | ($34M) | ($430M) | ($532M) | $1.14B | $2.21B | $2.76B | $3.50B |
| Free Cash Flow | $276M | $21M | $674M | $2.28B | $2.87B | — | — |
| FCF Margin | 2.9% | 0.2% | 5.1% | 14.6% | 16.7% | — | — |
| Short-Term Debt | $0M | $0M | $0M | $0M | $1.46B | — | — |
| Long-Term Debt | $1.21B | $1.12B | $1.21B | $1.54B | $433M | — | — |
| Cash & Cash Equivalents | $2.75B | $2.46B | $3.13B | $4.78B | $5.26B | — | — |
| Net Debt | ($1.55B) | ($1.34B) | ($1.92B) | ($3.24B) | ($3.37B) | — | — |
| Net Debt / EBITDA | -3.6x | — | — | -2.2x | -1.4x | — | — |
| Rule of 40 | — | 21.5% | 18.0% | 32.9% | 26.4% | — | — |