Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.

Financial Strength

7/10

Name	Current	Vs Industry
Cash-To-Debt	2.65
Equity-to-Asset	0.37
Debt-to-Equity	0.53
Debt-to-EBITDA	26.63
Piotroski F-Score	7/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	7.08	Distress Grey Safe
Beneish M-Score	-2.53	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

8/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	13.2
	3-Year EBITDA Growth Rate	22.1
	3-Year EPS without NRI Growth Rate	-10.4
	3-Year FCF Growth Rate	47.6
	3-Year Book Growth Rate	-8
	Future 3-5Y Total Revenue Growth Rate	11.36

Momentum Rank

3/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	33.64
	9-Day RSI	44.26
	14-Day RSI	48.73
	6-1 Month Momentum %	66.64
	12-1 Month Momentum %	96.79

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	1.42
	Quick Ratio	1.42
	Cash Ratio	1.18
	Days Sales Outstanding	12.98
	Days Payable	23.18

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	3-Year Average Share Buyback Ratio	-1.2
	Shareholder Yield %	-0.09

Profitability Rank

3/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	26.26
	Operating Margin %	-0.89
	Net Margin %	-0.8
	FCF Margin %	5.95
	ROE %	-4.49
	ROA %	-1.39
	ROIC %	-2.85
	ROC (Joel Greenblatt) %	-12.98
	ROCE %	-1.86

GF Value Rank

1/10

	Name	Current	Vs Industry		Vs History
	Forward PE Ratio	67.11
	Price-to-Owner-Earnings	200.5
	PS Ratio	4.15
	PB Ratio	17.37
	Price-to-Tangible-Book	27.7
	Price-to-Free-Cash-Flow	69.81
	Price-to-Operating-Cash-Flow	69.07
	EV-to-EBIT	-699.09
	EV-to-Forward-EBIT	64.82
	EV-to-EBITDA	824.57
	EV-to-Forward-EBITDA	49.49
	EV-to-Revenue	3.96
	EV-to-Forward-Revenue	3.51
	EV-to-FCF	66.55
	Price-to-Projected-FCF	8.06
	Earnings Yield (Greenblatt) %	-0.14
	FCF Yield %	1.43

GF Value: €172.53

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