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	16
Piotroski F-Score	7/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	6.62	Distress Grey Safe
Beneish M-Score	-2.54	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	14.1

Momentum Rank

	Name	Current	Vs Industry		Vs History
	5-Day RSI	48.79
	9-Day RSI	50.43
	14-Day RSI	52.85
	6-1 Month Momentum %	55.26
	12-1 Month Momentum %	97.26

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	1.42
	Quick Ratio	1.42
	Cash Ratio	1.18
	Days Sales Outstanding	14.14
	Days Payable	25.57

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	3-Year Average Share Buyback Ratio	-1.2
	Shareholder Yield %	-0.1

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 %	-2.86
	ROC (Joel Greenblatt) %	-5.67
	ROCE %	-0.81

GF Value Rank

1/10

	Name	Current	Vs Industry		Vs History
	Forward PE Ratio	91.11
	Price-to-Owner-Earnings	186.46
	PS Ratio	3.9
	PB Ratio	16.35
	Price-to-Tangible-Book	26.08
	Price-to-Free-Cash-Flow	65.72
	Price-to-Operating-Cash-Flow	65.02
	EV-to-EBIT	-1467.1
	EV-to-Forward-EBIT	59.61
	EV-to-EBITDA	453.92
	EV-to-Forward-EBITDA	45.51
	EV-to-Revenue	3.63
	EV-to-Forward-Revenue	3.23
	EV-to-FCF	61.02
	Price-to-Projected-FCF	7.59
	Earnings Yield (Greenblatt) %	-0.07
	FCF Yield %	1.55

GF Value: €169.73

WBO:SPOT

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