SPOTIFY TECHNOLOGY SA (639.DE) Stock Fundamental Analysis

FRA:639 • LU1778762911

398.65 EUR
-21.6 (-5.14%)
Last: Feb 23, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to 639. 639 was compared to 45 industry peers in the Entertainment industry. 639 has an excellent financial health rating, but there are some minor concerns on its profitability. 639 has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

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.
  • 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

  • 639 has a Return On Assets of 14.73%. This is amongst the best in the industry. 639 outperforms 93.33% of its industry peers.
  • 639's Return On Equity of 26.56% is fine compared to the rest of the industry. 639 outperforms 80.00% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 17.33%, 639 belongs to the top of the industry, outperforming 91.11% 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

  • With an excellent Profit Margin value of 12.87%, 639 belongs to the best of the industry, outperforming 84.44% of the companies in the same industry.
  • 639 has a Operating Margin of 12.79%. This is in the better half of the industry: 639 outperforms 75.56% of its industry peers.
  • Looking at the Gross Margin, with a value of 31.98%, 639 is doing worse than 71.11% of the companies in the same industry.
  • 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

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

8

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so 639 is creating value.
  • 639 has more shares outstanding than it did 1 year ago.
  • 639 has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, 639 has an improved debt to assets ratio.
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 9.27. This indicates that 639 is financially healthy and has little risk of bankruptcy at the moment.
  • The Altman-Z score of 639 (9.27) is better than 95.56% of its industry peers.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 0.68, 639 belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
  • A Debt/Equity ratio of 0.05 indicates that 639 is not too dependend on debt financing.
  • With an excellent Debt to Equity ratio value of 0.05, 639 belongs to the best of the industry, outperforming 88.89% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF 0.68
Altman-Z 9.27
ROIC/WACC2.3
WACC7.54%
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

  • 639 has a Current Ratio of 1.72. This is a normal value and indicates that 639 is financially healthy and should not expect problems in meeting its short term obligations.
  • 639 has a Current ratio of 1.72. This is amongst the best in the industry. 639 outperforms 84.44% of its industry peers.
  • 639 has a Quick Ratio of 1.72. This is a normal value and indicates that 639 is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 1.72, 639 belongs to the top of the industry, outperforming 84.44% of the companies in the same industry.
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

More info and screens

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

6

3. Growth

3.1 Past

  • 639 shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 49.96%, which is quite impressive.
  • Looking at the last year, 639 shows a quite strong growth in Revenue. The Revenue has grown by 9.65% in the last year.
  • 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)49.96%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%146.18%
Revenue 1Y (TTM)9.65%
Revenue growth 3Y13.59%
Revenue growth 5Y16.88%
Sales Q2Q%4.41%

3.2 Future

  • 639 is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.33% yearly.
  • Based on estimates for the next years, 639 will show a quite strong growth in Revenue. The Revenue will grow by 12.38% on average per year.
EPS Next Y49.86%
EPS Next 2Y37.85%
EPS Next 3Y30.4%
EPS Next 5Y22.33%
Revenue Next Year14.29%
Revenue Next 2Y14.16%
Revenue Next 3Y13.5%
Revenue Next 5Y12.38%

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

More info and screens

Find the best growth stocksShow best growing peers

4

4. Valuation

4.1 Price/Earnings Ratio

  • 639 is valuated quite expensively with a Price/Earnings ratio of 48.26.
  • Based on the Price/Earnings ratio, 639 is valued a bit cheaper than the industry average as 64.44% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 26.64. 639 is valued rather expensively when compared to this.
  • The Price/Forward Earnings ratio is 32.19, which means the current valuation is very expensive for 639.
  • 639's Price/Forward Earnings ratio is in line with the industry average.
  • 639's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.75.
Industry RankSector Rank
PE 48.26
Fwd PE 32.19
639.DE Price Earnings VS Forward Price Earnings639.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • 639's Enterprise Value to EBITDA is on the same level as the industry average.
  • 639's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 28.58
EV/EBITDA 30.59
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.
  • 639's earnings are expected to grow with 30.40% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.97
PEG (5Y)N/A
EPS Next 2Y37.85%
EPS Next 3Y30.4%

More info and screens

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

0

5. Dividend

5.1 Amount

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

More info and screens

Find the best dividend stocksShow peers with best dividend

SPOTIFY TECHNOLOGY SA

FRA:639 (2/23/2026, 7:00:00 PM)

398.65

-21.6 (-5.14%)

Chartmill FA Rating
GICS IndustryGroupMedia & Entertainment
GICS IndustryEntertainment
Earnings (Last)02-10
Earnings (Next)04-21
Inst Owners67.66%
Inst Owner ChangeN/A
Ins Owners16.11%
Ins Owner ChangeN/A
Market Cap82.08B
Revenue(TTM)17.19B
Net Income(TTM)2.21B
Analysts80.85
Price Target627.53 (57.41%)
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)58.99%
Min EPS beat(2)55.15%
Max EPS beat(2)62.82%
EPS beat(4)2
Avg EPS beat(4)-14%
Min EPS beat(4)-121.7%
Max EPS beat(4)62.82%
EPS beat(8)4
Avg EPS beat(8)-2.15%
EPS beat(12)6
Avg EPS beat(12)27.47%
EPS beat(16)7
Avg EPS beat(16)28.79%
Revenue beat(2)0
Avg Revenue beat(2)-2.49%
Min Revenue beat(2)-3.99%
Max Revenue beat(2)-1%
Revenue beat(4)0
Avg Revenue beat(4)-2.71%
Min Revenue beat(4)-3.99%
Max Revenue beat(4)-1%
Revenue beat(8)0
Avg Revenue beat(8)-2.25%
Revenue beat(12)0
Avg Revenue beat(12)-2.36%
Revenue beat(16)0
Avg Revenue beat(16)-1.99%
PT rev (1m)-5.66%
PT rev (3m)-6.64%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.34%
EPS NY rev (1m)-0.89%
EPS NY rev (3m)5.51%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.17%
Revenue NY rev (1m)0.32%
Revenue NY rev (3m)-1.56%
Valuation
Industry RankSector Rank
PE 48.26
Fwd PE 32.19
P/S 4.78
P/FCF 28.58
P/OCF 27.98
P/B 9.85
P/tB 11.39
EV/EBITDA 30.59
EPS(TTM)8.26
EY2.07%
EPS(NY)12.38
Fwd EY3.11%
FCF(TTM)13.95
FCFY3.5%
OCF(TTM)14.25
OCFY3.57%
SpS83.47
BVpS40.45
TBVpS34.99
PEG (NY)0.97
PEG (5Y)N/A
Graham Number86.71
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 9.27
F-Score7
WACC7.54%
ROIC/WACC2.3
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)49.96%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%146.18%
EPS Next Y49.86%
EPS Next 2Y37.85%
EPS Next 3Y30.4%
EPS Next 5Y22.33%
Revenue 1Y (TTM)9.65%
Revenue growth 3Y13.59%
Revenue growth 5Y16.88%
Sales Q2Q%4.41%
Revenue Next Year14.29%
Revenue Next 2Y14.16%
Revenue Next 3Y13.5%
Revenue Next 5Y12.38%
EBIT growth 1Y61.03%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year48.62%
EBIT Next 3Y28.05%
EBIT Next 5Y20.93%
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 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.


Can you provide the profitability details for SPOTIFY TECHNOLOGY SA?

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


What are the PE and PB ratios of SPOTIFY TECHNOLOGY SA (639.DE) stock?

The Price/Earnings (PE) ratio for SPOTIFY TECHNOLOGY SA (639.DE) is 48.26 and the Price/Book (PB) ratio is 9.85.


What is the earnings growth outlook for SPOTIFY TECHNOLOGY SA?

The Earnings per Share (EPS) of SPOTIFY TECHNOLOGY SA (639.DE) is expected to grow by 49.86% in the next year.