Spotify Technology S.A. (SPOT) Stock: Price, Forecast & Analyst Target
Spotify Technology S.A. (SPOT) — MoonshotScore 89/100 (Exceptional band), calculated Oct 4, 2026. Price $472.89 (-3.77%), as of the Oct 2, 2026 trading session; market cap $97.2B. Expected results Oct 22, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 10.35× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Oct 22, 2026
Spotify Technology S.A. · SPOT · NYSE · Communication Services · Internet Content & Information
Research dated 2026-09-12: Spotify sells access to a global audio catalog through paid subscriptions and an advertising-funded service; it is not primarily an advertising-led internet-content business. The case rests on whether expanding subscription revenue and lean cash economics can keep lifting profit while heavier artificial-intelligence and marketing spending runs through the cost base.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · Spotify Technology (SPOT)
ExceptionalWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
Elite quality, a fortress balance sheet and durable growth, but a full valuation. Business Quality: Elite; Financial Safety: Fortress; Valuation: Rich; Growth Durability: Compounding; Momentum: Quiet.
Price relative to book value is the main valuation drag relative to sector peers.
- quarterly revenue $4.78B (Q2 FY2026, quarter ended Jun 2026)
- EPS beat 3 of 8
- Altman Z 12.35 · Piotroski F 6
Holding back: a rich price
Helping: business quality, balance-sheet strength, durable growth
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 90 | Exceptional | |
| 90 | Exceptional | |
| 90 | Exceptional | |
| 90 | Exceptional | |
| 90 | Exceptional | |
| 90 | Exceptional |
The score was 89 in the stored Oct 3, 2026 snapshot and remains 89 in the current publication computed Oct 4, 2026 (0). This current publication is not yet represented in the immutable snapshot archive.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $472.89 | |
| Change on the day | -3.77% | |
| 52-week range | $405.00 – $700.12 | |
| Market capitalisation | $97.2B | |
| Price / earnings (trailing) | 25.81 | |
| Shares traded on the day | 1.89M | |
| Beta (volatility vs the S&P 500) | 1.59 |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings call · management outlook
- · Earnings results · below the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
We continue to expect these marketing and AI-related investments to drive approximately EUR 200 million in incremental operating expense for the full year.
Christian Luiga · Statement from
Although we do not provide full year guidance for gross margin and operating margin, we continue to expect both to improve in 2026 on a full year basis.
Christian Luiga · Statement from
Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsOther perspectives
Council score for Spotify Technology (SPOT): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
9-Factor Breakdown
Legends Council
6 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Sep 10, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.
Readings on this page are from Oct 4, 2026, except a card that shows its own read date.
Watch the SPOT film — every key number, told as a short cinematic story
~2 min · open the film
What is Spotify Technology (SPOT), and what does it report?
Short answer · as of
Premium subscriptions are Spotify’s economic core, giving listeners online and offline access to music and podcasts alongside selected video, lossless music and audiobooks.
Research dated 2026-09-12.
Premium subscriptions are Spotify’s economic core, giving listeners online and offline access to music and podcasts alongside selected video, lossless music and audiobooks. Advertising supports a smaller service with more limited music access, so reported revenue mainly measures paid access to licensed audio rather than audience monetization through ads.
The segment mix matters when interpreting growth: subscription demand carries far more weight than advertising demand, while gross profit reflects what remains after delivering and licensing the catalog. Research, sales and administrative spending then determine how much of that gross profit reaches operating income.
What do the latest results show for Spotify Technology (SPOT)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $4.78B.
Research dated 2026-09-12.
Revenue advanced again in the latest reported period, but operating income, net income and diluted earnings retreated from the preceding period. Gross profit still increased, while research and administrative spending rose sharply, making the latest profit slowdown primarily an expense story rather than a revenue contraction.
Management says incremental marketing and artificial-intelligence investment is adding to operating expense, while maintaining that annual gross margin, operating margin and free cash flow should improve. That claim is testable against the recent pattern: cash generation remains strong, yet the latest earnings release fell short of expectations after a run of stronger surprises.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $4.78B Jun 30, 2026
- Latest quarter · R&D
- $403.00M Jun 30, 2026
- Latest quarter · SG&A
- $538.00M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $655.00M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $4.78B | $403.00M | $538.00M | $655.00M |
| Mar 31, 2026 | $4.53B | $331.00M | $449.00M | $715.00M |
| Dec 31, 2025 | $4.53B | $290.00M | $508.00M | $701.00M |
| Sep 30, 2025 | $4.27B | $309.00M | $460.00M | $582.00M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $5.46B Aug 4, 2026
- Latest report · revenue estimate
- $5.47B Aug 4, 2026
- Latest report · revenue vs estimate
- Below estimate Aug 4, 2026
- Latest report · EPS vs estimate
- Below estimate Aug 4, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Aug 4, 2026 | $5.46B | $5.47B | $3.0300 | $3.2700 |
| Apr 28, 2026 | $5.24B | $5.23B | $4.0400 | $3.4300 |
| Feb 10, 2026 | $5.32B | $5.31B | $5.1600 | $3.2100 |
| Nov 4, 2025 | $5.00B | $4.97B | $3.8300 | $2.2900 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $4.78B | $545M | $2.61 (diluted) |
| Q1 FY2026 | $4.53B | $721M | $3.50 (diluted) |
| Q4 FY2025 | $4.53B | $1.17B | $4.39 (diluted) |
| Q3 FY2025 | $4.27B | $899M | $3.28 (diluted) |
What are the financial strengths and risks for Spotify Technology (SPOT)?
Short answer
Cash and short-term investments were $9.39B at the Jun 30, 2026 balance-sheet date. Operating cash flow was $816.00M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-12.
Spotify combines recurring operating cash inflow with very light capital expenditure, a structure that converts the service’s digital delivery model into substantial free cash flow. Cash and investments greatly exceed debt and total liabilities, liquidity has expanded markedly across the reported history, and current obligations appear well covered.
The vulnerability sits in the income engine rather than financing capacity. Premium supplies most segment revenue, so weaker paid demand or a failure to turn rising gross profit into operating profit would strike the core business; sustained marketing and artificial-intelligence expense would intensify that pressure. The cash reserve offers resilience, but it is modest beside the company’s market value and does not remove the valuation sensitivity attached to profitable growth.
Data-derived red flags
- Inconsistent delivery — missed Wall Street EPS estimates in 5 of the last 8 reported quarters.
- Rich valuation — a P/E of 25.81 runs well above the Communication Services sector’s ~17.40x, leaving little room for a miss.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $816.00M Jun 30, 2026
- Previous quarter · operating cash flow
- $849.75M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $816.00M | −$20.00M |
| Mar 31, 2026 | $849.75M | −$5.08M |
| Dec 31, 2025 | $856.00M | −$22.00M |
| Sep 30, 2025 | $829.00M | −$23.00M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at Spotify Technology (SPOT)?
Short answer · as of
The next earnings report is expected on Oct 22, 2026.
Research dated 2026-09-12.
Watch whether the next earnings release pairs continued revenue expansion with renewed operating-profit growth. Gross profit has been rising, so another decline in operating income alongside elevated research and administrative costs would show that incremental spending is absorbing the operating leverage.
Cash flow is the harder confirmation test. Management expects meaningful annual improvement, and recent operating cash generation has stayed robust with little capital expenditure; progress should therefore appear in cash generation as well as accounting earnings. The scheduled report also provides a fresh test of execution after the latest revenue and earnings shortfall against expectations.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
We continue to expect these marketing and AI-related investments to drive approximately EUR 200 million in incremental operating expense for the full year.
Christian Luiga ·
Although we do not provide full year guidance for gross margin and operating margin, we continue to expect both to improve in 2026 on a full year basis.
Christian Luiga ·
We continue to expect meaningful year-over-year growth in free cash flow in 2026.
Christian Luiga ·
We have said we're going to elevate it with EUR 200 million for this year. something that is very much in control and structural. And just to give a little bit better guidance on it, excluding the currency and social charges we see on our expenses, our expense growth in quarter 3, we expect it to be roughly consistent with quarter 2.
Christian Luiga ·
How does Spotify Technology compare with its peers?
Short answer
Spotify Technology's score ranks 4th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-12.
Spotify differs from advertising-led internet platforms because paid access, not ad inventory, produces most of its segment revenue. Advertising broadens access and monetizes unpaid listening, but Premium demand carries the economics of the company.
It also differs from infrastructure-heavy media distribution businesses: operating cash flow is substantial while capital expenditure is small. The tradeoff is that access to a broad audio catalog creates strong gross profit dollars without software-like gross margins, leaving expense discipline central to the conversion of growth into earnings.
| Company | Price | Market value | Score |
|---|---|---|---|
| $147.85 Oct 2, 2026 | $28.5B | 96 5-pillar Oct 4, 2026 | |
| $728.08 Oct 2, 2026 | $1.85T | 94 5-pillar Oct 4, 2026 | |
| $294.58 Oct 2, 2026 | $44.7B | 92 5-pillar Oct 4, 2026 | |
| Spotify Technology (SPOT) — this page | $472.89 | $97.2B | 89 |
| $19.25 Oct 2, 2026 | $12.3B | 86 5-pillar Oct 4, 2026 | |
| $40.32 Oct 2, 2026 | $9.41B | 84 5-pillar Oct 4, 2026 | |
| $21.57 Oct 2, 2026 | $76.5B | 79 5-pillar Oct 4, 2026 | |
| $7.74 Oct 2, 2026 | $11.9B | 77 5-pillar Oct 4, 2026 | |
| $189.15 Oct 2, 2026 | $82.4B | 63 5-pillar Oct 4, 2026 | |
| $24.30 Oct 2, 2026 | $167B | 63 5-pillar Oct 4, 2026 | |
| $28.09 Oct 2, 2026 | $6.75B | 61 5-pillar Oct 4, 2026 | |
| $45.92 Oct 2, 2026 | $192B | 60 5-pillar Oct 4, 2026 | |
| $242.81 Oct 2, 2026 | $58.3B | 54 5-pillar Oct 4, 2026 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $530.00 – $720.00
- Consensus target
- $615.50
- Median target
- $612.50
Consensus record · Captured .
Measured against a quoted price of $472.89 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Of the newest 60 records, those within the last 180 days, newest dated Sep 14, 2026
- Transactions
- 59
- Identified insiders
- 5
- Purchases
- 0
- Sales
- 40
- Other transactions
- 19
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 66.0% Period end Jun 30, 2026
- Previous quarter · ownership
- 65.2% Prior to period end Jun 30, 2026
- Reporting holders
- 1,340 Period end Jun 30, 2026
- Previous quarter · holders
- 1,367 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Blackrock, INC. | 10,890,937 |
| Baillie Gifford & Co | 7,928,451 |
| Morgan Stanley | 7,418,358 |
| State Street Corp | 4,633,537 |
| Price T Rowe Associates INC /Md/ | 3,596,492 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about Spotify Technology (SPOT)?
SPOT Communication Services Stock FAQ
Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 2 questions are answered from this page's own dated data, not from the research.
How do Spotify Premium and Ad-Supported listening make money?
Premium monetizes direct and partner-sold subscriptions for expanded catalog access, while Ad-Supported monetizes a more limited listening experience through advertising. Premium contributes the clear majority of segment revenue.
Why did Spotify profit fall while revenue kept rising?
Gross profit increased, but research and administrative spending climbed enough to pull operating income and net income below the preceding period. Management identifies marketing and artificial-intelligence investment as an incremental expense burden.
What would validate Spotify’s artificial-intelligence and marketing spending?
The spending would gain financial support if revenue growth is accompanied by improving operating margin and stronger free cash flow, in line with management’s stated expectations. Continued profit compression despite higher gross profit would weaken that case.
Why is Spotify different from an advertising-led internet platform?
Spotify earns most of its segment revenue from paid audio subscriptions rather than advertising. Advertising remains part of the model, but it is economically secondary to Premium access.
What is the SPOT stock price today?
The last price recorded on this page for Spotify Technology S.A. (SPOT) is $472.89, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the SPOT price target?
The analyst consensus price target for Spotify Technology S.A. (SPOT) is $615.50 (range $530.00 to $720.00, median $612.50), per FMP data captured Oct 4, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (85 figures)
The 85 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 1 fact from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | Christian Luiga (Aug 4, 2026): We continue to expect these marketing and AI-related investments to drive approximately EUR 200 million in incremental operating expense for the full year. Christian Luiga (Aug 4, 2026): Although we do not provide full year guidance for gross margin and operating margin, we continue to expect both to improve in 2026 on a full year basis. Christian Luiga (Aug 4, 2026): We continue to expect meaningful year-over-year growth in free cash flow in 2026. Christian Luiga (Aug 4, 2026): We have said we're going to elevate it with EUR 200 million for this year. something that is very much in control and structural. And just to give a little bit better guidance on it, excluding the currency and social charges we see on our expenses, our expense growth in quarter 3, we expect it to be roughly consistent with quarter 2. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. |
FMP — 74 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Oct 22, 2026 | FMP | Financial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it. | |
px.last | Latest provided price | $472.89 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-04T17:14:24.689Z. | |
px.change | Change on the day | -3.77% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $97.2B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:03.000Z. Captured from FMP at 2026-10-04T17:14:23.823Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | −$18.51 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $4.78B | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.pe | Price / earnings (trailing) | 25.81 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 1.89M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 1.59 | FMP | Financial Modeling Prep (FMP) company profile | |
id.founder | Founder named in the filing | Sven Martin Lorentzon — Co-Founder & Director | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 7,000 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
id.hq | Headquarters | Regeringsgatan 19, Stockholm, 111 53, Sweden | FMP | Financial Modeling Prep (FMP) company profile | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $9.67B, net result −$34.00M; FY2022 revenue $11.73B, net result −$430.00M; FY2023 revenue $13.25B, net result −$532.00M; FY2024 revenue $15.67B, net result $1.14B; FY2025 revenue $17.19B, net result $2.21B | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Premium $14.95B · Ad-Supported $2.01B | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 32.8% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $4.78B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.rd_k | R&D — period end 2026-06-30 | $403.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $538.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $655.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $4.53B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.rd_k | R&D — period end 2026-03-31 | $331.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $449.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $715.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $4.53B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.rd_k | R&D — period end 2025-12-31 | $290.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $508.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $701.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $4.27B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.rd_k | R&D — period end 2025-09-30 | $309.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $460.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $582.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-08-04.revenue_actual | Revenue · reported — report date 2026-08-04 | $5.46B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-04.revenue_estimated | Revenue · estimate — report date 2026-08-04 | $5.47B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-04.eps_actual | EPS · reported — report date 2026-08-04 | $3.0300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-04.eps_estimated | EPS · estimate — report date 2026-08-04 | $3.2700 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-28.revenue_actual | Revenue · reported — report date 2026-04-28 | $5.24B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-28.revenue_estimated | Revenue · estimate — report date 2026-04-28 | $5.23B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-28.eps_actual | EPS · reported — report date 2026-04-28 | $4.0400 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-28.eps_estimated | EPS · estimate — report date 2026-04-28 | $3.4300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-10.revenue_actual | Revenue · reported — report date 2026-02-10 | $5.32B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-10.revenue_estimated | Revenue · estimate — report date 2026-02-10 | $5.31B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-10.eps_actual | EPS · reported — report date 2026-02-10 | $5.1600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-10.eps_estimated | EPS · estimate — report date 2026-02-10 | $3.2100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-04.revenue_actual | Revenue · reported — report date 2025-11-04 | $5.00B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-04.revenue_estimated | Revenue · estimate — report date 2025-11-04 | $4.97B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-04.eps_actual | EPS · reported — report date 2025-11-04 | $3.8300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-04.eps_estimated | EPS · estimate — report date 2025-11-04 | $2.2900 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $9.39B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $816.00M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $1.12B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $466.00M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 10.31× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $816.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | $849.75M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$20.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$5.08M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $856.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$22.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $829.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$23.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $530.00 – $720.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $615.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $612.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 59 transactions · 0 purchases, 40 sales, 19 other transactions · 5 identified insiders · of the newest 60 records, those within the last 180 days, newest dated Sep 14, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 66.0% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 65.2% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 1,340 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 1,367 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Blackrock, INC. — shares in provider snapshot | 10,890,937 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Baillie Gifford & Co — shares in provider snapshot | 7,928,451 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Morgan Stanley — shares in provider snapshot | 7,418,358 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | State Street Corp — shares in provider snapshot | 4,633,537 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Price T Rowe Associates INC /Md/ — shares in provider snapshot | 3,596,492 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 4 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.history | Reported versus estimated, recent quarters | EPS beat 3 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-10-04 | |
fin.scores | Distress and quality screens | Altman Z 12.35 · Piotroski F 6 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-04 | |
px.range52 | 52-week range | $405.00 – $700.12 | UNRECORDED | Stored company-profile observation — Captured 2026-10-04 | |
id.ceo | Chief executive | Alex Norström | UNRECORDED | Stored company-profile observation — Captured 2026-10-04 |
COMPUTED — 3 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 10.35× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $9.39B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
earn.history.depth.2026-08-04.revenue_actual.comparison | Latest report · revenue vs estimate | Below estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($5.46B) with the recorded estimate ($5.47B) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-08-04.eps_actual.comparison | Latest report · EPS vs estimate | Below estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($3.0300) with the recorded estimate ($3.2700) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 3 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 89 of 100 · Exceptional · pillars 91 / 95 / 30 / 87 / 53 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.valuation_driver | Recorded valuation score driver | Price relative to book value is the main valuation drag relative to sector peers. | OURS | Stock Expert AI MoonshotScore v2 engine · stored factor contributions | |
ours.moonshot_change | MoonshotScore movement | 89 (stored snapshot Oct 3, 2026) → 89 (current publication computed Oct 4, 2026) (0) | OURS | Stock Expert AI current score publication and immutable score snapshots — The current score publication is not yet represented in the immutable snapshot archive. |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.rd_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.rd_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.rd_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.rd_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-08-04. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-08-04.revenue_actual,earn.history.depth.2026-08-04.revenue_estimated,earn.history.depth.2026-08-04.revenue_actual.comparison,earn.history.depth.2026-08-04.eps_actual.comparison,earn.history.depth.2026-08-04.eps_actual,earn.history.depth.2026-08-04.eps_estimated,earn.history.depth.2026-04-28.revenue_actual,earn.history.depth.2026-04-28.revenue_estimated,earn.history.depth.2026-04-28.eps_actual,earn.history.depth.2026-04-28.eps_estimated,earn.history.depth.2026-02-10.revenue_actual,earn.history.depth.2026-02-10.revenue_estimated,earn.history.depth.2026-02-10.eps_actual,earn.history.depth.2026-02-10.eps_estimated,earn.history.depth.2025-11-04.revenue_actual,earn.history.depth.2025-11-04.revenue_estimated,earn.history.depth.2025-11-04.eps_actual,earn.history.depth.2025-11-04.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-12
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Legal name | Spotify Technology S.A. | 2026-09-12 | OFFICIAL | SEC EDGAR filer record |
| Business description | Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates in two segments, Premium and Ad-Supported. The Premium segment offers online and offline streaming access to its catalog of music and podcasts, including video, lossless music, and audiobooks in select markets through subscription offerings primarily sold directly to end users and partners. The Ad-Supported segment provides limited on-demand online access to its catalog of music and online and offline access to its catalog of podcasts on computers, tablets, mobile devices, and other smart devices. The company also offers sales, distribution and marketing, contract research and development, and customer and other support services. Spotify Technology S.A. was incorporated in 2006 and is headquartered in Stockholm, Sweden. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Sector / industry (provider taxonomy) | Communication Services / Internet Content & Information The company's SEC filings classify it under SIC 4832 — Radio Broadcasting Stations. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Premium: $14.95B; Ad-Supported: $2.01B | 2024-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Management outlook — dated call excerpts | Captured record · 4 entries
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-08-04 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-08-04 | FMP | Financial Modeling Prep (FMP) earnings |
| Cash, investments and debt | Total debt: $466.00M; Liquidity basis: cash and short-term investments; Total liabilities: $5.36B; Cash and short-term investments: $9.39B; Cash and investments: $10.51B; Long-term investments: $1.12B; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $10.51B; Cash and short-term investments: $9.39B; Long-term investments: $1.12B; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-06-30 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: $8.92B; Total debt: $466.00M; Cash and investments: $9.39B Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Trailing twelve-month ratio set | Quick ratio: 2.11; Current ratio: 2.11; Debt to equity: 0.06; Net margin: 18.4%; Gross margin: 32.8%; Operating margin: 14.6%; Return on assets: 24.3%; Return on equity: 41.1% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Next earnings report | Date: 2026-11-03; EPS estimate: $3.26 per share; Revenue estimate: $5.79B The date is our provider's estimate until the company confirms it. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) earnings calendar |
Data provided for informational purposes only.
ETFs that hold SPOT
Funds in our ETF coverage that list SPOT among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.