Spotify Technology S.A.
SPOTSpotify Technology S.A.'s earnings have outrun its stock. EPS grew +91.1% in a year against a −23.8% price move.
The sharpest disagreement: annual EPS moved +91.1% against a −23.8% price move — the market has not yet caught up with the delivery.
The price is in a downtrend (17 weeks in). Underneath, the last four quarters read improving — profit +213.0% year on year, and 156% of the last 2 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Spotify Technology S.A. trades at $478, in a downtrend and 17 weeks into that stage. That is −8.4% against its own 200-day average. It sits at 19% of a 52-week range of $418 to $735. On relative strength it has been ahead of the S&P 500 on a trailing-13-week view for 2 straight weeks.
Today the stock is in a downtrend — week 17 of stage 4. At $478 it trades −8.4% versus its 200-day average and sits at 19% of its 52-week range ($418–$735).
Against the market, two honest reads. Cumulative: over the last 8.3 years the stock moved +223% while the S&P 500 moved +197% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of $1 of annual profit: how many dollars the market pays for each dollar the company earns in a year.
Spotify Technology S.A. trades at 26.3× P/E, against too little history to rank. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 26.3× is against too little history to rank. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +91.1% against a −23.8% price move — earnings outran the price, pushing the multiple DOWN its own range.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Spotify Technology S.A. reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 12 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +9.7% | +13.6% | — | — |
| Profit | +93.9% | — | — | — |
| EPS | +91.1% | — | — | — |
| Stock price | −23.8% | +49.1% | +16.6% | — |
4-Factor Sector Score
56.5/100 — rank 6 of 24 in Internet Content & Information · 81% evidence confidence
Spotify Technology S.A. scores 56.5 out of 100 against the 24 companies it is compared with in Internet Content & Information, ranking 6. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 23 + 14.8 + 11 + 7.7 = 56.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Spotify Technology S.A. reported $4.5 B of revenue in the Mar 26 quarter, +8.1% year on year. That is the 12th straight quarter of year-on-year growth. Over 4 years it has compounded at 15.5% a year. The last full year, FY25, came in at $17.2 B. The last four reported quarters add to $17.5 B.
FY25 revenue came in at $17.2 B (+9.7% on the year), capping 4 years at 15.5% compound. The latest quarter (Mar 26) printed $4.5 B, +8.1% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +8.0% growth against the decade's 15.5% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +7.9% over the last 4 quarters against +12.5%/yr over the last 8 — rolling over.
Operating margin Operating margin is what is left of every $100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Spotify Technology S.A.'s operating margin is 15.7% in the Mar 26 quarter, +3.5 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 5 fiscal years the operating margin has ranged −5.6% to 12.8%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 15.7%, +3.5 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged −5.6%–12.8%, and FY25's 12.8% is the top of that band — a record year.
Why the margin moved: operating margin went +3.5 pp year on year while gross margin went +1.4 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Spotify Technology S.A. earned $0.7 B of net profit in the Mar 26 quarter, +213.0% year on year. It is the 3rd consecutive quarter of growth. Full-year FY25 profit was $2.2 B. That is 15.9% of the quarter's revenue. The same quarter a year earlier earned $0.2 B. 3 of the last 12 reported quarters were loss-making.
Mar 26 profit was $0.7 B, +213.0% year on year — the 3rd consecutive quarter of growth. On the full year, FY25 printed $2.2 B (+93.9%).
Why profit moved: revenue contributed +8.1% and the margin +3.5 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +124.0% vs revenue +8.0%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra dollar of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 2 fiscal years 156% of Spotify Technology S.A.'s reported profit arrived as operating cash — the cash follows the profit. In FY25 that was $2.9 B of operating cash against $2.2 B of profit. After $0.1 B of capital spending, $2.9 B was left as free cash.
FY25: operating cash of $2.9 B against reported profit of $2.2 B, leaving free cash of $2.9 B after $0.1 B of capital spending. Across the last 2 fiscal years the conversion rate is 156% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.
Router verdict: the visible cash user is investment — the next section checks what the spending is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Spotify Technology S.A. does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Capital spending ran $0.0 B over the last 3 years. Averaged over those years that is 0.0% of FY25 revenue a year.
Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.
On the investment side: capital spending of $0.0 B over the last 3 fiscal years.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.
Spotify Technology S.A. earns a ROE of 27% in FY25. That is up from a trough of −21% in FY23. Return on invested capital clears the cost of that capital by +304.2 percentage points, so growth here adds value rather than only size. The wiring behind it is 12.9% net margin on 1.14× asset turns.
FY25 ROE is 27%, recovered from a FY23 trough of −21% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY25): 12.9% net margin × 1.14× asset turns × 1.80× balance-sheet leverage ≈ 26.5% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 317.1% − 12.9% = a +304.2 pp spread. The 12.9% is an estimate of this company's own cost of capital — read the sign and the size of the spread, not the decimals. A spread this wide means every dollar reinvested creates more than a dollar of value — the engine compounds.
Dividend
Spotify Technology S.A. pays no dividend. Across the last 12 reported quarters it has declared no dividend per share, so there is no payout history to chart and no yield to quote. Companies at this stage typically reinvest earnings rather than distribute them, which makes the cash-flow and reinvestment sections the place that cash shows up.
Spotify Technology S.A. does not currently pay a dividend. Across the last 12 reported quarters the company has declared no dividend per share, so there is no payout history to chart and no yield to quote. Companies at this stage typically reinvest earnings instead of distributing them.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Spotify Technology S.A. carries total debt of $0.4 B against shareholder equity of $8.0 B as of Mar 26, a debt-to-equity of 0.05 — effectively unlevered. On the annual view that ratio went from 0.84 in FY21 to 0.23 in FY25. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of $0.4 B against shareholder equity of $8.0 B — a debt-to-equity of 0.05. On the annual view, debt-to-equity went from 0.84 (FY21) to 0.23 (FY25). The returns on this page are earned, not borrowed.
Ownership There is no quarter-by-quarter holder register to read here, so we read the crowd through short interest — the slice of tradable shares currently sold short, positioned for a fall.
4.2% of Spotify Technology S.A.'s tradable float is currently sold short — some money is positioned against it. At typical trading volumes those positions would take about 3.9 days to buy back. There is no quarter-by-quarter holder register to read for this filer, so the crowd is read through short interest instead.
The latest reading: 4.2% of the float is sold short, and at typical trading volumes it would take about 3.9 days to buy those positions back. Some money is positioned against it. This is a single point-in-time reading — we do not yet hold its history, so we show no trend chart.
Why it sits there: who is doing the shorting, and why, does not travel with the number — the level is shown without inventing its story.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Spotify Technology S.A.: the Z-score reads 15.24. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
Why it matters: a Z-score of 15.24 sits well clear of the distress zone — the balance sheet is not the risk here.
The safety line in one sentence: the Z-score reads 15.24.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1EverQuote, Inc.EVER | 69.6/100Favorable setup71% evidence | BREAKING OUT | 28.7/35 Revenue 24.5% · PAT 100% · OPM change 7.5 pp 83% evidence | 14.9/25 ROCE 11.9% · OPM 12.3% 76% evidence | 11.5/20 P/E 5.2× · PEG — 15% evidence | 14.5/20 RS sector 5.9% · RS bench -0.4% · 1Y 0.5%11 of 12 weeks ahead 100% evidence |
| Exact sum: 28.7 + 14.9 + 11.5 + 14.5 = 69.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Opera LimitedOPRA | 67.7/100Favorable setup81% evidence | FADING | 24.2/35 Revenue 23.7% · PAT 38.1% · OPM change 2.1 pp 83% evidence | 13.3/25 ROCE 3.1% · OPM 16.9% 76% evidence | 14.5/20 P/E 11.3× · PEG 0.33 65% evidence | 15.7/20 RS sector 19.8% · RS bench 14.5% · 1Y 28.8%9 of 12 weeks ahead 100% evidence |
| Exact sum: 24.2 + 13.3 + 14.5 + 15.7 = 67.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Match Group, Inc.MTCH | 66.1/100Favorable setup81% evidence | TURNING | 22.4/35 Revenue 2% · PAT 21.6% · OPM change 6.6 pp 83% evidence | 16.1/25 ROCE 6.9% · OPM 27.4% 76% evidence | 13.6/20 P/E 11.7× · PEG 0.4 65% evidence | 14.0/20 RS sector 12.9% · RS bench 7.6% · 1Y 14.3%5 of 12 weeks ahead 100% evidence |
| Exact sum: 22.4 + 16.1 + 13.6 + 14 = 66.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Taboola.com Ltd.TBLA | 63.7/100Thin evidence · provisional58% evidence | FADING | 23.8/35 Revenue 9.6% · PAT 100% · OPM change 16.4 pp 62% evidence | 12.6/25 ROCE 6% · OPM 14.9% 76% evidence | 11.1/20 P/E 8.2× · PEG — 15% evidence | 16.2/20 RS sector 24.8% · RS bench 19.8% · 1Y 61.3%11 of 12 weeks ahead 70% evidence |
| Exact sum: 23.8 + 12.6 + 11.1 + 16.2 = 63.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 5Alphabet Inc.GOOGL | 56.6/100Thin evidence · provisional58% evidence | ASLEEP | 17.3/35 Revenue — · PAT — · OPM change 2.2 pp 45% evidence | 16.6/25 ROCE 6.7% · OPM 36.1% 76% evidence | 10.1/20 P/E 17.9× · PEG — 15% evidence | 12.6/20 RS sector 13.4% · RS bench 9.7% · 1Y 87.5%7 of 12 weeks ahead 100% evidence |
| Exact sum: 17.3 + 16.6 + 10.1 + 12.6 = 56.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 6Spotify Technology S.A.this pageSPOT | 56.5/100Mixed-positive evidence81% evidence | TURNING | 23.0/35 Revenue 8% · PAT 100% · OPM change 3.7 pp 83% evidence | 14.8/25 ROCE 9.4% · OPM 15.8% 76% evidence | 11.0/20 P/E 39× · PEG 0.91 65% evidence | 7.7/20 RS sector -17.8% · RS bench -22.9% · 1Y -32.3%2 of 12 weeks ahead 100% evidence |
| Exact sum: 23 + 14.8 + 11 + 7.7 = 56.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7JOYY Inc.JOYY | 51.3/100Mixed-positive evidence81% evidence | BREAKING OUT | 10.4/35 Revenue 0.9% · PAT -86.8% · OPM change -1.2 pp 83% evidence | 10.0/25 ROCE 0.1% · OPM 1.1% 76% evidence | 14.6/20 P/E 13.5× · PEG 0.3 65% evidence | 16.3/20 RS sector 12.8% · RS bench 7.9% · 1Y 47.8%5 of 12 weeks ahead 100% evidence |
| Exact sum: 10.4 + 10 + 14.6 + 16.3 = 51.3 · Decision use: Price leads the evidence: RS versus the benchmark is 7.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 8Nebius Group N.V.NBIS | 50.2/100Mixed-positive evidence74% evidence | LEADER | 24.6/35 Revenue 100% · PAT — · OPM change 204.2 pp 62% evidence | 6.3/25 ROCE -1.1% · OPM -32.1% 76% evidence | 5.3/20 P/E 32.4× · PEG 2.66 65% evidence | 14.0/20 RS sector 57.1% · RS bench 54.1% · 1Y 228.1%12 of 12 weeks ahead 100% evidence |
| Exact sum: 24.6 + 6.3 + 5.3 + 14 = 50.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Reddit, Inc.RDDT | 49.4/100Thin evidence · provisional58% evidence | ASLEEP | 23.2/35 Revenue — · PAT — · OPM change 26.6 pp 45% evidence | 14.7/25 ROCE 8.1% · OPM 27.6% 76% evidence | 9.0/20 P/E 40.4× · PEG — 15% evidence | 2.5/20 RS sector -18.4% · RS bench -23.8% · 1Y -25.7%9 of 12 weeks ahead 100% evidence |
| Exact sum: 23.2 + 14.7 + 9 + 2.5 = 49.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 10Nextdoor Holdings, Inc.NXDR | 49.2/100Thin evidence · provisional55% evidence | BREAKING OUT | 20.4/35 Revenue 6.8% · PAT — · OPM change 25 pp 62% evidence | 4.3/25 ROCE -3.4% · OPM -24.9% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 14.5/20 RS sector 12.9% · RS bench 7.1% · 1Y 11.1%12 of 12 weeks ahead 70% evidence |
| Exact sum: 20.4 + 4.3 + 10 + 14.5 = 49.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 11Weibo CorporationWB | 46.0/100Mixed-negative evidence81% evidence | BASING | 13.4/35 Revenue 1.4% · PAT 5.7% · OPM change -1.5 pp 83% evidence | 13.7/25 ROCE 1.9% · OPM 26.3% 76% evidence | 16.3/20 P/E 6.1× · PEG 0.13 65% evidence | 2.6/20 RS sector -20.9% · RS bench -25.7% · 1Y -18.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 13.4 + 13.7 + 16.3 + 2.6 = 46 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 12Snap Inc.SNAP | 44.7/100Mixed-negative evidence61% evidence | BASING | 21.8/35 Revenue 10.3% · PAT — · OPM change 9.3 pp 62% evidence | 6.1/25 ROCE -1.2% · OPM -4.9% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 6.8/20 RS sector -13.1% · RS bench -18.9% · 1Y -21.9%0 of 12 weeks ahead 100% evidence |
| Exact sum: 21.8 + 6.1 + 10 + 6.8 = 44.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Groupon, Inc.GRPN | 43.9/100Thin evidence · provisional58% evidence | BREAKING OUT | 11.0/35 Revenue 2.7% · PAT — · OPM change -4.4 pp 62% evidence | 6.4/25 ROCE -1.4% · OPM -2.8% 76% evidence | 9.9/20 P/E 19.2× · PEG — 15% evidence | 16.6/20 RS sector 41.7% · RS bench 33.1% · 1Y -16.6%12 of 12 weeks ahead 70% evidence |
| Exact sum: 11 + 6.4 + 9.9 + 16.6 = 43.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 14Meta Platforms, Inc.META | 43.8/100Thin evidence · provisional58% evidence | ASLEEP | 14.1/35 Revenue — · PAT — · OPM change -0.9 pp 45% evidence | 16.0/25 ROCE 5.8% · OPM 40.6% 76% evidence | 9.7/20 P/E 21.2× · PEG — 15% evidence | 4.0/20 RS sector -14.5% · RS bench -19.1% · 1Y -23.6%0 of 12 weeks ahead 100% evidence |
| Exact sum: 14.1 + 16 + 9.7 + 4 = 43.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 15Zillow Group, Inc.ZG | 41.0/100Mixed-negative evidence64% evidence | BASING | 21.5/35 Revenue 16.8% · PAT — · OPM change 6.6 pp 62% evidence | 9.0/25 ROCE 0.8% · OPM 5.1% 76% evidence | 8.5/20 P/E 165.6× · PEG — 15% evidence | 2.0/20 RS sector -35.9% · RS bench -40.9% · 1Y -52.2%0 of 12 weeks ahead 100% evidence |
| Exact sum: 21.5 + 9 + 8.5 + 2 = 41 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Yelp Inc.YELP | 40.9/100Mixed-negative evidence75% evidence | BASING | 13.0/35 Revenue 2% · PAT -2.1% · OPM change -0.6 pp 83% evidence | 12.6/25 ROCE 3.3% · OPM 7.6% 76% evidence | 8.4/20 P/E 11.3× · PEG 2.14 65% evidence | 6.9/20 RS sector -8.1% · RS bench -13.4% · 1Y -14.2%0 of 12 weeks ahead 70% evidence |
| Exact sum: 13 + 12.6 + 8.4 + 6.9 = 40.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Pinterest, Inc.PINS | 40.1/100Mixed-negative evidence71% evidence | BREAKING OUT | 12.0/35 Revenue 16.3% · PAT -82.4% · OPM change -3.9 pp 83% evidence | 6.8/25 ROCE -1.8% · OPM -8% 76% evidence | 9.4/20 P/E 38.2× · PEG — 15% evidence | 11.9/20 RS sector -1.2% · RS bench -8.2% · 1Y -27.2%7 of 12 weeks ahead 100% evidence |
| Exact sum: 12 + 6.8 + 9.4 + 11.9 = 40.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18WEBTOON Entertainment Inc.WBTN | 39.0/100Thin evidence · provisional55% evidence | ASLEEP | 18.1/35 Revenue 2.2% · PAT — · OPM change 5.7 pp 62% evidence | 7.1/25 ROCE -0.6% · OPM -2.5% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 3.8/20 RS sector -29.9% · RS bench -34.5% · 1Y 6.5%5 of 12 weeks ahead 70% evidence |
| Exact sum: 18.1 + 7.1 + 10 + 3.8 = 39 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 19Upwork Inc.UPWK | 37.6/100Mixed-negative evidence65% evidence | TURNING | 10.8/35 Revenue 2.5% · PAT -53.6% · OPM change -3.4 pp 83% evidence | 13.0/25 ROCE 4.2% · OPM 16.7% 76% evidence | 10.4/20 P/E 13.5× · PEG — 15% evidence | 3.4/20 RS sector -34.7% · RS bench -39.5% · 1Y -26.5%1 of 12 weeks ahead 70% evidence |
| Exact sum: 10.8 + 13 + 10.4 + 3.4 = 37.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20People IncorporatedPPLI | 36.1/100Mixed-negative evidence64% evidence | TURNING | 9.2/35 Revenue -9.4% · PAT — · OPM change -14.5 pp 62% evidence | 6.8/25 ROCE -0.6% · OPM -9.5% 76% evidence | 8.7/20 P/E 108.2× · PEG — 15% evidence | 11.4/20 RS sector 11.5% · RS bench 7.2% · 1Y 35.6%1 of 12 weeks ahead 100% evidence |
| Exact sum: 9.2 + 6.8 + 8.7 + 11.4 = 36.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Genius Sports LimitedGENI | 35.0/100Thin evidence · provisional55% evidence | BREAKING OUT | 13.4/35 Revenue 33.3% · PAT — · OPM change -8.8 pp 62% evidence | 4.3/25 ROCE -5.8% · OPM -23% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 7.3/20 RS sector -5.6% · RS bench -13.7% · 1Y -34.8%9 of 12 weeks ahead 70% evidence |
| Exact sum: 13.4 + 4.3 + 10 + 7.3 = 35 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 22RUM Group Inc.RUM | 32.7/100Thin evidence · provisional58% evidence | ASLEEP | 13.1/35 Revenue 1% · PAT — · OPM change -0.1 pp 62% evidence | 3.4/25 ROCE -12.6% · OPM -153.6% 76% evidence | 8.9/20 P/E 47.1× · PEG — 15% evidence | 7.3/20 RS sector -7.5% · RS bench -12.4% · 1Y -18.4%8 of 12 weeks ahead 70% evidence |
| Exact sum: 13.1 + 3.4 + 8.9 + 7.3 = 32.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 23Trump Media & Technology Group Corp.DJT | 30.7/100Thin evidence · provisional57% evidence | TURNING | 7.2/35 Revenue 0% · PAT — · OPM change -28873.5 pp 62% evidence | 5.2/25 ROCE -27.2% · OPM — 61% evidence | 10.0/20 P/E — · PEG — 0% evidence | 8.3/20 RS sector -16.8% · RS bench -22.9% · 1Y -39.1%1 of 12 weeks ahead 100% evidence |
| Exact sum: 7.2 + 5.2 + 10 + 8.3 = 30.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 24StubHub Holdings, Inc.STUB | 41.3/100Thin evidence · provisional41% evidence | BREAKING OUT | 12.7/35 Revenue -0.8% · PAT — · OPM change -0.9 pp 62% evidence | 8.6/25 ROCE 0.6% · OPM 5.8% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 10.0/20 RS sector — · RS bench — · 1Y —9 of 12 weeks ahead 0% evidence |
| Exact sum: 12.7 + 8.6 + 10 + 10 = 41.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Spotify Technology S.A.'s stock price today?
Spotify Technology S.A. trades at $478, −23.8% over the past year. The company is valued at $98.0 B. The stock sits at 19% of its 52-week range of $418–$735, −8.4% versus its 200-day average. On the tape, the price is in a downtrend, 17 weeks in. — as of 5 August 2026.
What were Spotify Technology S.A.'s latest quarterly results?
Spotify Technology S.A. reported revenue of $4.5 B and net profit of $0.7 B for the Mar 26 quarter. Revenue rose 8.1% and profit rose 213.0% year on year. Earnings per share were $3.45. The operating margin was 15.7%, 3.5 pp higher than a year earlier. — as of 5 August 2026.
What is Spotify Technology S.A.'s revenue?
Spotify Technology S.A. reported revenue of $4.5 B in the Mar 26 quarter, +8.1% year on year. For the full FY25 fiscal year, revenue was $17.2 B (+9.7%). Over the last 4 years revenue compounded at 15.5% a year. — as of 5 August 2026.
What is Spotify Technology S.A.'s profit?
Spotify Technology S.A. earned $0.7 B of net profit in the Mar 26 quarter, +213.0% year on year — the 3rd straight quarter of growth. Full-year FY25 profit was $2.2 B. The operating margin ran 15.7% in the latest quarter. — as of 5 August 2026.
What is Spotify Technology S.A.'s market cap?
Spotify Technology S.A.'s market capitalisation is $98.0 B at a stock price of $478. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 5 August 2026.
Does Spotify Technology S.A. pay a dividend?
No — Spotify Technology S.A. has declared no dividend per share in any of its last 12 reported quarters, so there is no payout history and no yield to quote. That is a reading of the filed statements, not an estimate. — as of 5 August 2026.
Is Spotify Technology S.A. growing?
Yes — Spotify Technology S.A. is growing: latest-quarter revenue +8.1% year on year, profit +213.0%, and the margin +3.5 pp at 15.7%. The earnings engine currently reads: improving — as of 5 August 2026.
How is Spotify Technology S.A. performing?
Spotify Technology S.A. is in a downtrend, 17 weeks in. Its latest quarter's revenue rose 8.1% and profit rose 213.0% year on year. Against the S&P 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 5 August 2026.
Is Spotify Technology S.A. in an uptrend?
No — the price is in a downtrend (week 17 of stage 4), trading −8.4% versus its 200-day average and at 19% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 5 August 2026.
Is Spotify Technology S.A. beating the market?
On recent form, yes — Spotify Technology S.A. has been ahead of the S&P 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 8.3 years the stock moved +223% against the S&P 500's +197% — ahead of the index over the full window. — as of 5 August 2026.
Will Spotify Technology S.A.'s stock price go up?
This page publishes no price forecast for Spotify Technology S.A. What it measures instead: the stock price is $478, the price is in a downtrend 17 weeks in. Direction is not something this site claims to know. — as of 5 August 2026.
Is the market betting against Spotify Technology S.A.?
Somewhat — short interest is 4.2% of Spotify Technology S.A.'s tradable float, about 3.9 days to cover at typical volumes. A moderate reading: some money is positioned against it. With no quarter-by-quarter holder register here, short interest is the cleanest crowd read we hold — as of 5 August 2026.
Does Spotify Technology S.A. have too much debt?
No — Spotify Technology S.A.'s debt-to-equity is 0.05. A year-by-year borrowings ladder is not in our numbers for this stock, so the latest reading is the cleanest hold. The returns on this page are earned, not borrowed — as of 5 August 2026.
What is Spotify Technology S.A.'s capex?
Spotify Technology S.A. spent $0.0 B on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was $0.1 B. — as of 5 August 2026.
What is Spotify Technology S.A.'s cash flow?
Spotify Technology S.A. generated $2.9 B of operating cash flow in FY25 and $2.9 B of free cash flow after $0.1 B of capital spending. Reported profit that year was $2.2 B, so operating cash ran ahead of profit. — as of 5 August 2026.
Is Spotify Technology S.A.'s profit real cash?
Yes — over the last 2 fiscal years, 156% of Spotify Technology S.A.'s reported profit arrived as operating cash. In FY25, operating cash was $2.9 B against reported profit of $2.2 B. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 5 August 2026.
How financially safe is Spotify Technology S.A.?
On the balance sheet, the Z-score reads 15.24 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 5 August 2026.
Where is Spotify Technology S.A. in its business cycle?
Spotify Technology S.A.'s FY25 operating margin was 12.8%, against a 5-year band of −5.6%–12.8%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 15.7%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 5 August 2026.
What could break the Spotify Technology S.A. story?
The sharpest disagreement: annual EPS moved +91.1% against a −23.8% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 5 August 2026.
Is Spotify Technology S.A. a stock worth studying right now?
This is not investment advice. The machine read: Spotify Technology S.A.'s earnings have outrun its stock. EPS grew +91.1% in a year against a −23.8% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 5 August 2026.