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

FRA:639 • LU1778762911

Current stock price

434.5 EUR
+0.5 (+0.12%)
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.
  • 639 had a positive operating cash flow in the past year.
  • In multiple years 639 reported negative net income over the last 5 years.
  • 639 had a positive operating cash flow in each of the past 5 years.
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

  • With an excellent Return On Assets value of 14.73%, 639 belongs to the best of the industry, outperforming 95.74% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 26.56%, 639 belongs to the top of the industry, outperforming 87.23% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 17.33%, 639 belongs to the best of the industry, outperforming 89.36% of the companies in the same industry.
Industry RankSector Rank
ROA 14.73%
ROE 26.56%
ROIC 17.33%
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

  • 639 has a Profit Margin of 12.87%. This is amongst the best in the industry. 639 outperforms 89.36% of its industry peers.
  • Looking at the Operating Margin, with a value of 12.79%, 639 is in the better half of the industry, outperforming 72.34% of the companies in the same industry.
  • 639 has a Gross Margin of 31.98%. This is in the lower half of the industry: 639 underperforms 74.47% of its industry peers.
  • In the last couple of years the Gross Margin of 639 has grown nicely.
Industry RankSector Rank
OM 12.79%
PM (TTM) 12.87%
GM 31.98%
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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8

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.
  • The number of shares outstanding for 639 has been increased compared to 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

  • 639 has an Altman-Z score of 9.93. This indicates that 639 is financially healthy and has little risk of bankruptcy at the moment.
  • With an excellent Altman-Z score value of 9.93, 639 belongs to the best of the industry, outperforming 91.49% of the companies in the same industry.
  • The Debt to FCF ratio of 639 is 0.68, which is an excellent value as it means it would take 639, only 0.68 years of fcf income to pay off all of its debts.
  • 639's Debt to FCF ratio of 0.68 is amongst the best of the industry. 639 outperforms 93.62% of its industry peers.
  • A Debt/Equity ratio of 0.05 indicates that 639 is not too dependend on debt financing.
  • 639 has a Debt to Equity ratio of 0.05. This is amongst the best in the industry. 639 outperforms 89.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF 0.68
Altman-Z 9.93
ROIC/WACC2.33
WACC7.43%
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 1.72 indicates that 639 should not have too much problems paying its short term obligations.
  • 639 has a better Current ratio (1.72) than 85.11% of its industry peers.
  • A Quick Ratio of 1.72 indicates that 639 should not have too much problems paying its short term obligations.
  • The Quick ratio of 639 (1.72) is better than 85.11% of its industry peers.
Industry RankSector Rank
Current Ratio 1.72
Quick Ratio 1.72
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

  • The Earnings Per Share has grown by an impressive 51.72% over the past year.
  • The Revenue has grown by 9.65% in the past year. This is quite good.
  • The Revenue has been growing by 16.88% on average over the past years. This is quite good.
EPS 1Y (TTM)51.72%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%151.7%
Revenue 1Y (TTM)9.65%
Revenue growth 3Y13.59%
Revenue growth 5Y16.88%
Sales Q2Q%6.81%

3.2 Future

  • The Earnings Per Share is expected to grow by 22.26% on average over the next years. This is a very strong growth
  • 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

  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of 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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4

4. 639.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • 639 is valuated quite expensively with a Price/Earnings ratio of 51.97.
  • 61.70% of the companies in the same industry are more expensive than 639, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of 639 to the average of the S&P500 Index (27.15), we can say 639 is valued expensively.
  • With a Price/Forward Earnings ratio of 32.71, 639 can be considered very expensive at the moment.
  • 639's Price/Forward Earnings ratio is in line with the industry average.
  • When comparing the Price/Forward Earnings ratio of 639 to the average of the S&P500 Index (22.12), we can say 639 is valued slightly more expensively.
Industry RankSector Rank
PE 51.97
Fwd PE 32.71
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 50

4.2 Price Multiples

  • 63.83% of the companies in the same industry are cheaper than 639, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of 639 is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 31.15
EV/EBITDA 33.8
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

  • The 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)0.88
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

  • No dividends for 639!.
Industry RankSector Rank
Dividend Yield 0%

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639.DE Fundamentals: All Metrics, Ratios and Statistics

SPOTIFY TECHNOLOGY SA

FRA:639 (4/27/2026, 7:00:00 PM)

434.5

+0.5 (+0.12%)

Chartmill FA Rating
GICS IndustryGroupMedia & Entertainment
GICS IndustryEntertainment
Earnings (Last)02-10
Earnings (Next)04-28
Inst Owners68.84%
Inst Owner ChangeN/A
Ins Owners15.32%
Ins Owner ChangeN/A
Market Cap89.45B
Revenue(TTM)17.19B
Net Income(TTM)2.21B
Analysts82.13
Price Target556.07 (27.98%)
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)60.73%
Min EPS beat(2)58.63%
Max EPS beat(2)62.82%
EPS beat(4)2
Avg EPS beat(4)-13.13%
Min EPS beat(4)-121.7%
Max EPS beat(4)62.82%
EPS beat(8)4
Avg EPS beat(8)-1.71%
EPS beat(12)6
Avg EPS beat(12)27.76%
EPS beat(16)7
Avg EPS beat(16)29%
Revenue beat(2)0
Avg Revenue beat(2)-1.39%
Min Revenue beat(2)-1.78%
Max Revenue beat(2)-1%
Revenue beat(4)0
Avg Revenue beat(4)-2.16%
Min Revenue beat(4)-3.59%
Max Revenue beat(4)-1%
Revenue beat(8)0
Avg Revenue beat(8)-1.97%
Revenue beat(12)0
Avg Revenue beat(12)-2.18%
Revenue beat(16)0
Avg Revenue beat(16)-1.86%
PT rev (1m)-2.65%
PT rev (3m)-16.4%
EPS NQ rev (1m)0.57%
EPS NQ rev (3m)10.85%
EPS NY rev (1m)0.14%
EPS NY rev (3m)6.3%
Revenue NQ rev (1m)0.04%
Revenue NQ rev (3m)-0.97%
Revenue NY rev (1m)0.08%
Revenue NY rev (3m)-0.36%
Valuation
Industry RankSector Rank
PE 51.97
Fwd PE 32.71
P/S 5.21
P/FCF 31.15
P/OCF 30.5
P/B 10.74
P/tB 12.42
EV/EBITDA 33.8
EPS(TTM)8.36
EY1.92%
EPS(NY)13.28
Fwd EY3.06%
FCF(TTM)13.95
FCFY3.21%
OCF(TTM)14.25
OCFY3.28%
SpS83.48
BVpS40.46
TBVpS35
PEG (NY)0.88
PEG (5Y)N/A
Graham Number87.2336 (-79.92%)
Profitability
Industry RankSector Rank
ROA 14.73%
ROE 26.56%
ROCE 24.61%
ROIC 17.33%
ROICexc N/A
ROICexgc N/A
OM 12.79%
PM (TTM) 12.87%
GM 31.98%
FCFM 16.71%
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-Score7
Asset Turnover1.14
Health
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF 0.68
Debt/EBITDA 0.19
Cap/Depr 59.8%
Cap/Sales 0.35%
Interest Coverage 61.06
Cash Conversion 127.52%
Profit Quality 129.84%
Current Ratio 1.72
Quick Ratio 1.72
Altman-Z 9.93
F-Score7
WACC7.43%
ROIC/WACC2.33
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)51.72%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%151.7%
EPS Next Y58.87%
EPS Next 2Y40.88%
EPS Next 3Y33.02%
EPS Next 5Y22.26%
Revenue 1Y (TTM)9.65%
Revenue growth 3Y13.59%
Revenue growth 5Y16.88%
Sales Q2Q%6.81%
Revenue Next Year13.53%
Revenue Next 2Y13.45%
Revenue Next 3Y13.06%
Revenue Next 5Y12.33%
EBIT growth 1Y61.03%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year50.3%
EBIT Next 3Y32.38%
EBIT Next 5Y21.95%
FCF growth 1Y25.74%
FCF growth 3Y415.22%
FCF growth 5Y73.82%
OCF growth 1Y27.47%
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 51.97 and the Price/Book (PB) ratio is 10.74.