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Buy Day today: Neutral (53) Mixed market breadth · no major macro event

Spotify Technology SA (SPOT)

Communication Services Internet Content & Information
499.90 $
Closing price · As of: 31. Jul 2026
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Quality & Balance Sheet

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Basics

Market Cap
102.8$B
Shares Outstanding
206Mio.
Float
76.4%
Beta
1.6

Performance

Perf. 1M
-10.50%
Perf. 3M
-2.20%
Perf. 6M
-21.20%
YTD Performance (%)
-21.60%
52-Week-High Distance
-43.8%

Valuation

P/E
35.6
Forward P/E
32.7
PEG
1.6
P/B
11.8
P/S
5.9
EV/EBITDA
26.0
Price/FCF
32.3

Profitability

Gross Margin
32.3%
EBIT Margin
15.8%
Net Margin
15.5%
Return on Equity
38.0%
Return on Assets
11.6%

Balance Sheet & Safety

Equity Ratio
61.0%
Debt/Equity
0.1
Altman Z″
8.81
very solid
Piotroski
9 out of 9

Growth

Sales Growth Last Quarter
8.20%
EPS Growth Last Quarter
222.40%
Sales Growth (Year)
9.65%
Forward Sales Growth
14.25%
Forward EPS Growth
24.20%

Quality & Screener

Stage
4
RS Rating
13
Top 10%
EPS Rating
91
very solid
Piotroski
9 out of 9
Fundamental Rating
A (78 out of 100)
Altman Z″
8.81

AI Rating

Not yet rated — we only show a category once an SEC-backed file with at least two cited passages is available. How the Rating Is Built

Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.

Sales Per Quarter ($M)
2024: Q4 · 4,242.0 $M Q4 2025: Q1 · 4,190.0 $M Q1 2025: Q2 · 4,193.0 $M Q2 2025: Q3 · 4,272.0 $M Q3 2025: Q4 · 4,531.0 $M Q4 2026: Q1 · 4,533.0 $M Q1
Earnings Per Share Per Quarter ($)
2024: Q4 · 1.76 $ Q4 2025: Q1 · 1.07 $ Q1 2025: Q2 · -0.42 $ Q2 2025: Q3 · 4.21 $ Q3 2025: Q4 · 5.52 $ Q4 2026: Q1 · 3.45 $ Q1
Net Margin Per Quarter (%)
2024: Q4 · 8.7 % Q4 2025: Q1 · 5.4 % Q1 2025: Q2 · -2.1 % Q2 2025: Q3 · 21.0 % Q3 2025: Q4 · 25.9 % Q4 2026: Q1 · 15.9 % Q1
Operating Cash Flow Per Quarter ($M)
2024: Q4 · 883.0 $M Q4 2025: Q1 · 539.0 $M Q1 2025: Q2 · 709.0 $M Q2 2025: Q3 · 829.0 $M Q3 2025: Q4 · 856.0 $M Q4 2026: Q1 · 849.7 $M Q1
Free Cash Flow Per Quarter ($M)
2024: Q4 · 877.0 $M Q4 2025: Q1 · 533.0 $M Q1 2025: Q2 · 699.0 $M Q2 2025: Q3 · 806.0 $M Q3 2025: Q4 · 834.0 $M Q4 2026: Q1 · 844.7 $M Q1
Sales Growth vs. Year-Ago Quarter (%)
2024: Q4 · 15.6 % Q4 2025: Q1 · 15.2 % Q1 2025: Q2 · 10.1 % Q2 2025: Q3 · 7.1 % Q3 2025: Q4 · 6.8 % Q4 2026: Q1 · 8.2 % Q1
EPS Growth vs. Year-Ago Quarter (%)
2025: Q1 · 10.7 % Q1 2025: Q2 · -131.5 % Q2 2025: Q3 · 190.7 % Q3 2025: Q4 · 214.7 % Q4 2026: Q1 · 221.9 % Q1
Price Change in Quarter (%)
2024: Q4 · 21.4 % Q4 2025: Q1 · 22.9 % Q1 2025: Q2 · 39.5 % Q2 2025: Q3 · -9.0 % Q3 2025: Q4 · -16.8 % Q4 2026: Q1 · -16.5 % Q1

Quarterly Figures

Quarterly Figures
Quarter EPS (Earnings Per Share) EPS YoY (%) Sales ($M) Sales YoY (%) Net Margin (%) OCF ($M) FCF ($M)
2024: Q4 1.76 4,242 15.60 8.70 883 877
2025: Q1 1.07 10.70 4,190 15.20 5.40 539 533
2025: Q2 -0.42 -131.50 4,193 10.10 -2.10 709 699
2025: Q3 4.21 190.70 4,272 7.10 21.00 829 806
2025: Q4 5.52 214.70 4,531 6.80 25.90 856 834
2026: Q1 3.45 221.90 4,533 8.20 15.90 850 845
What Do These Terms Mean?
EPS (Earnings Per Share):
Quarterly profit divided by the total share count — how much of the profit works out to a single share.
YoY (Year over Year):
Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
Sales:
All revenue for the quarter, before any costs are deducted — the top line of the income statement.
Net Margin:
What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
OCF (Operating Cash Flow):
The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
FCF (Free Cash Flow):
Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.

About the Company

Spotify Technology S.A.

Employees7,258
HeadquartersStockholm, Sweden
Websitespotify.com
IPO Date3. Apr 2018
Next Earnings4. Aug 2026

Management

Management
Name Title Birth Year
Daniel G. Ek Founder & Executive Chairman 1983
Alex Norström Co-CEO & Director 1977
Gustav Söderström Co-CEO & Director 1977
Sven Martin Lorentzon Co-Founder & Director 1969
Christian Luiga Chief Financial Officer 1968
Dustee Tucker Jenkins Chief Public Affairs Officer 1979
John P. Giraldo Chief Accounting Officer 1968
Bryan Daniel Goldberg Head of Investor Relations
Aditi Shorewal Head of PR & Communications
Tanmaya Trivedi Director of Sales

Executives per the latest required filings; titles kept in their original language. Source: fundamental data.

Insider Transactions

Insider Transactions
Date Person Role Type Shares Price Value
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 40 486.00 19,440
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 135 485.47 65,539
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 625 484.48 302,803
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 150 483.64 72,545
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 635 482.37 306,305
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 1,409 481.23 678,055
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 1,224 480.38 587,979
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 385 478.45 184,204
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 324 477.33 154,654
6. Jul 2026 Norstrom Alex Co-Chief Executive Officer Sell 509 476.31 242,442

Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.

View all insider transactions →

Chart

Interactive price chart (TradingView).

Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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