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Spotify Technology S.A.
SPOTCommunication ServicesNYSEUS
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Estimates, scoring, valuation assumptions, and peer comparison in one research surface.
Change the assumptions to see how revenue growth, margins, and exit multiples can move fair value.
| Year | Revenue | Margin | Profit | Free cash flow | Present value |
|---|---|---|---|---|---|
| 2026 | $17.19B | 12.9% | $2.22B | $2.87B | N/A |
| 2027 | $19.32B | 12.9% | $2.49B | $3.23B | $2.93B |
| 2028 | $21.71B | 12.9% | $2.80B | $3.63B | $3.00B |
| 2029 | $24.40B | 12.9% | $3.15B | $4.08B | $3.06B |
| 2030 | $27.43B | 12.9% | $3.54B | $4.58B | $3.13B |
| 2031 | $30.83B | 12.9% | $3.98B | $5.15B | $3.20B |
Projects EPS forward, applies an exit P/E, then discounts the result back to today.
| Base EPS | $10.51 | 2025-12-31 |
| EPS growth | +60.0% | Forecast years: 5 |
| Future EPS | $110.21 | EPS × (1 + G)^5 |
| Base P/E | 45.9 | P/E |
| Future price | $5,058.42 | Future EPS × P/E |
| Fair value today | $3,140.88 | PV @ 10.0% |
| 30% safety price | $2,198.62 | Margin of safety |
| 50% safety price | $1,570.44 | Margin of safety |
| Discount rate \\ Terminal growth | 1.5% | 2.5% | 3.5% |
|---|---|---|---|
| 9.0% | $333.73 | $370.36 | $420.30 |
| 10.0% | $296.80 | $323.81 | $359.12 |
| 11.0% | $267.70 | $288.26 | $314.31 |