profit from every $100 of sales.
$0$100
Spotify
$612.63+2.36% today
-5.1% in 1 year
1-year low $412.751-year high $645.33
Trading close to its highest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay $51.62 for every $1 of profit it makes in a year.
CheapExpensive
It holds more cash than debt.
No debt5 years
Money in, money out
What Spotify sold, what it kept, and what it did with the cash.
Sales went from €11.7 billion in 2022 to €17.2 billion in 2025, with €2.21 billion of profit last year.
SalesProfit
Spotify handed back 15% of the cash it generated last year.
Buybacks €439M
Free cash flow 2025€2.9B
Bought back its own shares€439M
Paid as dividends–
Cash vs. debt€5.3B vs. €2.0B
Spotify vs. similar companies
Spotify grows in the middle of these 5 and is priced in the middle for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Spotify | 51.6× · Expensive | ||
 Alphabet | 27.5× · Fair price | ||
 Meta | 27.1× · Fair price | ||
 Tencent Holdings | 13.1× · Cheap | ||
 Recruit | 59.6× · Expensive |
Compare Spotify with AppLovin · Alphabet · Alphabet · Meta · Netflix
AI analysis
Spotify turns audio streaming cash flow into a high-multiple stock
Read the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of EUR | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 11,727 | 13,247 | 15,673 | 17,186 | |
| 2,926 | 3,397 | 4,724 | 5,496 | |
| -659 | -446 | 1,365 | 2,198 | |
| -158 | -309 | 1,498 | 2,357 | |
| -430 | -532 | 1,138 | 2,212 | |
| -2.93 | -2.73 | 5.50 | 10.51 | |
| 25.0% | 25.6% | 30.1% | 32.0% | |
| -5.6% | -3.4% | 8.7% | 12.8% | |
| -3.7% | -4.0% | 7.3% | 12.9% |
Balance sheet
| In millions of EUR | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 7,636 | 8,346 | 12,005 | 15,015 |
| Cash | 2,483 | 3,114 | 4,781 | 5,258 |
| Total debt | 1,683 | 1,696 | 2,076 | 1,956 |
| Total liabilities | 5,235 | 5,823 | 6,480 | 6,686 |
| 2,401 | 2,523 | 5,525 | 8,329 | |
| 196 | 195 | 207 | 211 | |
| -6.4% | -8.7% | 14.3% | 17.3% | |
| -17.9% | -21.1% | 20.6% | 26.6% |
Cash flow
| In millions of EUR | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 46 | 680 | 2,301 | 2,933 | |
| 25 | 6 | 17 | 61 | |
| 21 | 674 | 2,284 | 2,872 | |
| Dividends paid | – | – | – | – |
| 2 | 0 | 0 | 439 | |
| 381 | 321 | 267 | 247 |
Valuation
- 51.6×
- 47.2×
- –
- 13.2×
- 6.6×
- 39.8×
- 47.0×
- 2.5%
- 1.9%
- 0.0%
Profitability
- 32.0%
- 12.8%
- 12.9%
- 15.6%
- 17.8%
- 4.2%
- 35.3%
- 20.7%
- 28.6%
- 7.6%
Growth
- +13.6%
- –
- +25.7%
- –
- +2.4%
Financial health
- -1.4×
- 0.23
- 3.6%
- 72.7×
- 1.72
- 2.06
- 1.34
How it ranks in Communication Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 12%of 436
Top 50%of 438
Bottom 16%of 347
Top 22%of 440
Bottom 27%of 440
What analysts expect
- Average price target
- $630.64
- Range
- $420.00 – $750.00
- 21 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| Apr 28, 2026 | 4.04 | 3.43 | +17.8% |
| Feb 10, 2026 | 5.16 | 3.21 | +60.7% |
| Nov 4, 2025 | 3.83 | 2.29 | +67.2% |
| Jul 29, 2025 | -0.48 | 2.30 | −120.9% |
| Apr 29, 2025 | 1.13 | 2.37 | −52.3% |
| Feb 4, 2025 | 1.88 | 2.06 | −8.7% |
| Nov 12, 2024 | 1.61 | 1.88 | −14.4% |
| Jul 23, 2024 | 1.33 | 1.06 | +25.5% |
News
Meta and Amazon Rise 5% as JPMorgan Names Them Top Internet Picks; Alphabet Gains 3% Despite Losing Its SpotYahoo Finance · Nov 9, 2026SpaceX Stock Is Nearly 30% Below Its Post-IPO High. Here's What Facebook's Stock Did From the Same Spot.Yahoo Finance · Nov 1, 2026Tesla stock leaves rest of the Magnificent 7 in the dust, surging to October's top spotYahoo Finance · Oct 26, 2026Here Are Monday’s Top Wall Street Analyst Research Calls: Block, Boise Cascade, Equifax, FirstEnergy, Lockheed Martin, Lumentum Holdings, NetApp, Roper Technologies, Spotify, Technology, and MoreYahoo Finance · Oct 26, 2026Is Spotify Technology SA a Buy After Its Latest Earnings Report?Yahoo Finance · Oct 25, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
1/7Passes 1 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
48No pass
Benjamin Graham
24No pass
Philip Fisher
39No pass
Peter Lynch
72Pass
Joel Greenblatt
16No pass
Charlie Munger
43No pass
Terry Smith
46No pass
Questions about Spotify
Is Spotify a good stock to buy?
A solid business, but the price is high. 1 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Spotify AI analysis
What does Spotify do?
Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates in two segments, Premium and Ad-Supported. It is in Internet Content & Information, based in Stockholm, Sweden, with 7,258 employees.
Does Spotify pay a dividend?
No. Spotify does not pay a dividend at the moment; in 2025 it returned $439 million to shareholders by buying back its own shares.
Is Spotify stock halal?
Yes. Spotify passes our halal screen: its business is permitted and its debt is 2% of its market value, under the 30% limit. How we check
How has Spotify stock done over the past year?
Down 5.1% over the past twelve months, to $612.63. It traded between $412.75 and $645.33 and is 5.1% below its high.
Who are Spotify's competitors?
The largest listed companies in the same industry are Alphabet, Meta, Tencent Holdings and Recruit. The peers table on this page compares their profit, growth and price with Spotify's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.