SPOTIFY TECHNOLOGY SA (639.DE) Fundamental Analysis & Valuation

FRA:639 • LU1778762911

Current stock price

377 EUR
-6.5 (-1.69%)
Last:

This 639.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. 639.DE Profitability Analysis

1.1 Basic Checks

  • In the past year 639 was profitable.
  • In the past year 639 had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: 639 reported negative net income in multiple years.
  • In the past 5 years 639 always reported a positive cash flow from operatings.
639.DE Yearly Net Income VS EBIT VS OCF VS FCF639.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B

1.2 Ratios

  • The Return On Assets of 639 (20.63%) is better than 95.74% of its industry peers.
  • The Return On Equity of 639 (33.81%) is better than 91.49% of its industry peers.
  • With an excellent Return On Invested Capital value of 20.05%, 639 belongs to the best of the industry, outperforming 91.49% of the companies in the same industry.
Industry RankSector Rank
ROA 20.63%
ROE 33.81%
ROIC 20.05%
ROA(3y)5.95%
ROA(5y)2.35%
ROE(3y)8.69%
ROE(5y)1.31%
ROIC(3y)N/A
ROIC(5y)N/A
639.DE Yearly ROA, ROE, ROIC639.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200 -200 -400

1.3 Margins

  • Looking at the Profit Margin, with a value of 15.45%, 639 belongs to the top of the industry, outperforming 93.62% of the companies in the same industry.
  • 639 has a Operating Margin of 13.71%. This is in the better half of the industry: 639 outperforms 74.47% of its industry peers.
  • 639 has a worse Gross Margin (32.32%) than 74.47% of its industry peers.
  • In the last couple of years the Gross Margin of 639 has grown nicely.
Industry RankSector Rank
OM 13.71%
PM (TTM) 15.45%
GM 32.32%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y8.62%
GM growth 5Y4.57%
639.DE Yearly Profit, Operating, Gross Margins639.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20

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ROAROEROICOperating and Profit MarginShow most profitable peers

9

2. 639.DE Health Analysis

2.1 Basic Checks

  • 639 has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • 639 has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, 639 has more shares outstanding
  • 639 has a better debt/assets ratio than last year.
639.DE Yearly Shares Outstanding639.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
639.DE Yearly Total Debt VS Total Assets639.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.2 Solvency

  • An Altman-Z score of 11.76 indicates that 639 is not in any danger for bankruptcy at the moment.
  • 639 has a Altman-Z score of 11.76. This is amongst the best in the industry. 639 outperforms 95.74% of its industry peers.
  • 639 has a debt to FCF ratio of 0.13. This is a very positive value and a sign of high solvency as it would only need 0.13 years to pay back of all of its debts.
  • With an excellent Debt to FCF ratio value of 0.13, 639 belongs to the best of the industry, outperforming 95.74% of the companies in the same industry.
  • 639 has a Debt/Equity ratio of 0.05. This is a healthy value indicating a solid balance between debt and equity.
  • With an excellent Debt to Equity ratio value of 0.05, 639 belongs to the best of the industry, outperforming 89.36% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF 0.13
Altman-Z 11.76
ROIC/WACC2.71
WACC7.41%
639.DE Yearly LT Debt VS Equity VS FCF639.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 2.06 indicates that 639 has no problem at all paying its short term obligations.
  • With an excellent Current ratio value of 2.06, 639 belongs to the best of the industry, outperforming 85.11% of the companies in the same industry.
  • A Quick Ratio of 2.06 indicates that 639 has no problem at all paying its short term obligations.
  • 639's Quick ratio of 2.06 is amongst the best of the industry. 639 outperforms 85.11% of its industry peers.
Industry RankSector Rank
Current Ratio 2.06
Quick Ratio 2.06
639.DE Yearly Current Assets VS Current Liabilites639.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. 639.DE Growth Analysis

3.1 Past

  • 639 shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 91.53%, which is quite impressive.
  • 639 shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.02%.
  • 639 shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.88% yearly.
EPS 1Y (TTM)91.53%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%222.9%
Revenue 1Y (TTM)8.02%
Revenue growth 3Y13.59%
Revenue growth 5Y16.88%
Sales Q2Q%8.27%

3.2 Future

  • Based on estimates for the next years, 639 will show a very strong growth in Earnings Per Share. The EPS will grow by 22.26% on average per year.
  • Based on estimates for the next years, 639 will show a quite strong growth in Revenue. The Revenue will grow by 12.33% on average per year.
EPS Next Y58.87%
EPS Next 2Y40.88%
EPS Next 3Y33.02%
EPS Next 5Y22.26%
Revenue Next Year13.53%
Revenue Next 2Y13.45%
Revenue Next 3Y13.06%
Revenue Next 5Y12.33%

3.3 Evolution

  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
639.DE Yearly Revenue VS Estimates639.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10B 20B 30B 40B
639.DE Yearly EPS VS Estimates639.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 0 10 20 30

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5

4. 639.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 35.07, which means the current valuation is very expensive for 639.
  • Compared to the rest of the industry, the Price/Earnings ratio of 639 indicates a somewhat cheap valuation: 639 is cheaper than 70.21% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of 639 to the average of the S&P500 Index (26.64), we can say 639 is valued slightly more expensively.
  • A Price/Forward Earnings ratio of 22.72 indicates a rather expensive valuation of 639.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of 639 indicates a somewhat cheap valuation: 639 is cheaper than 65.96% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of 639 to the average of the S&P500 Index (21.36), we can say 639 is valued inline with the index average.
Industry RankSector Rank
PE 35.07
Fwd PE 22.72
639.DE Price Earnings VS Forward Price Earnings639.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as 639.
  • Based on the Price/Free Cash Flow ratio, 639 is valued a bit cheaper than the industry average as 63.83% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 24.48
EV/EBITDA 26.26
639.DE Per share data639.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • 639's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of 639 may justify a higher PE ratio.
  • A more expensive valuation may be justified as 639's earnings are expected to grow with 33.02% in the coming years.
PEG (NY)0.6
PEG (5Y)N/A
EPS Next 2Y40.88%
EPS Next 3Y33.02%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. 639.DE Dividend Analysis

5.1 Amount

  • 639 does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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639.DE Fundamentals: All Metrics, Ratios and Statistics

SPOTIFY TECHNOLOGY SA

FRA:639 (4/30/2026, 7:00:00 PM)

377

-6.5 (-1.69%)

Chartmill FA Rating
GICS IndustryGroupMedia & Entertainment
GICS IndustryEntertainment
Industry StrengthN/A
Industry GrowthN/A
Earnings (Last)04-28
Earnings (Next)07-20
Inst Owners68.84%
Inst Owner ChangeN/A
Ins Owners15.32%
Ins Owner ChangeN/A
Market Cap77.62B
Revenue(TTM)17.53B
Net Income(TTM)2.71B
Analysts82.13
Price Target563.43 (49.45%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)36.3%
Min EPS beat(2)13.97%
Max EPS beat(2)58.63%
EPS beat(4)3
Avg EPS beat(4)3.43%
Min EPS beat(4)-121.7%
Max EPS beat(4)62.82%
EPS beat(8)4
Avg EPS beat(8)-5.7%
EPS beat(12)7
Avg EPS beat(12)31.77%
EPS beat(16)7
Avg EPS beat(16)18.24%
Revenue beat(2)0
Avg Revenue beat(2)-1.77%
Min Revenue beat(2)-1.78%
Max Revenue beat(2)-1.77%
Revenue beat(4)0
Avg Revenue beat(4)-2.03%
Min Revenue beat(4)-3.59%
Max Revenue beat(4)-1%
Revenue beat(8)0
Avg Revenue beat(8)-2.04%
Revenue beat(12)0
Avg Revenue beat(12)-2.06%
Revenue beat(16)0
Avg Revenue beat(16)-1.95%
PT rev (1m)-1.36%
PT rev (3m)-15.29%
EPS NQ rev (1m)-0.67%
EPS NQ rev (3m)6.27%
EPS NY rev (1m)0.14%
EPS NY rev (3m)6.3%
Revenue NQ rev (1m)-0.02%
Revenue NQ rev (3m)-0.98%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)-0.36%
Valuation
Industry RankSector Rank
PE 35.07
Fwd PE 22.72
P/S 4.43
P/FCF 24.48
P/OCF 24.03
P/B 9.69
P/tB 11.3
EV/EBITDA 26.26
EPS(TTM)10.75
EY2.85%
EPS(NY)16.59
Fwd EY4.4%
FCF(TTM)15.4
FCFY4.08%
OCF(TTM)15.69
OCFY4.16%
SpS85.14
BVpS38.91
TBVpS33.37
PEG (NY)0.6
PEG (5Y)N/A
Graham Number97.0074 (-74.27%)
Profitability
Industry RankSector Rank
ROA 20.63%
ROE 33.81%
ROCE 28.48%
ROIC 20.05%
ROICexc N/A
ROICexgc N/A
OM 13.71%
PM (TTM) 15.45%
GM 32.32%
FCFM 18.08%
ROA(3y)5.95%
ROA(5y)2.35%
ROE(3y)8.69%
ROE(5y)1.31%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y8.62%
GM growth 5Y4.57%
F-Score9
Asset Turnover1.34
Health
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF 0.13
Debt/EBITDA 0.17
Cap/Depr 59.41%
Cap/Sales 0.34%
Interest Coverage 77.55
Cash Conversion 128.94%
Profit Quality 117.06%
Current Ratio 2.06
Quick Ratio 2.06
Altman-Z 11.76
F-Score9
WACC7.41%
ROIC/WACC2.71
Cap/Depr(3y)25.88%
Cap/Depr(5y)31.84%
Cap/Sales(3y)0.17%
Cap/Sales(5y)0.32%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)91.53%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%222.9%
EPS Next Y58.87%
EPS Next 2Y40.88%
EPS Next 3Y33.02%
EPS Next 5Y22.26%
Revenue 1Y (TTM)8.02%
Revenue growth 3Y13.59%
Revenue growth 5Y16.88%
Sales Q2Q%8.27%
Revenue Next Year13.53%
Revenue Next 2Y13.45%
Revenue Next 3Y13.06%
Revenue Next 5Y12.33%
EBIT growth 1Y40.91%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year50.3%
EBIT Next 3Y32.38%
EBIT Next 5Y21.95%
FCF growth 1Y285.18%
FCF growth 3Y415.22%
FCF growth 5Y73.82%
OCF growth 1Y288.22%
OCF growth 3Y299.5%
OCF growth 5Y62.48%

SPOTIFY TECHNOLOGY SA / 639.DE Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for SPOTIFY TECHNOLOGY SA?

ChartMill assigns a fundamental rating of 6 / 10 to 639.DE.


Can you provide the valuation status for SPOTIFY TECHNOLOGY SA?

ChartMill assigns a valuation rating of 4 / 10 to SPOTIFY TECHNOLOGY SA (639.DE). This can be considered as Fairly Valued.


What is the profitability of 639 stock?

SPOTIFY TECHNOLOGY SA (639.DE) has a profitability rating of 6 / 10.


What is the valuation of SPOTIFY TECHNOLOGY SA based on its PE and PB ratios?

The Price/Earnings (PE) ratio for SPOTIFY TECHNOLOGY SA (639.DE) is 35.07 and the Price/Book (PB) ratio is 9.69.