FMP
Spotify Technology S.A.
SPOT
NYSE
Spotify Technology S.A., together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices. The company also offers sales, marketing, contract research and development, and customer support services. As of December 31, 2021, its platform included 406 million monthly active users and 180 million premium subscribers in 184 countries and territories. The company was incorporated in 2006 and is based in Luxembourg, Luxembourg.
644 USD
41.74 (6.48%)
Operating Data
Year
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
Revenue
8.9B
10.92B
13.25B
14.97B
17.71B
21.04B
25B
29.7B
35.29B
41.93B
Revenue %
-
22.69
21.3
12.96
18.31
18.82
18.82
18.82
18.82
Ebitda
-331.01M
527.58M
-320.84M
-336.66M
1.69B
252.39M
299.88M
356.31M
423.35M
503.01M
Ebitda %
-3.72
4.83
-2.42
-2.25
9.56
1.2
1.2
1.2
1.2
Ebit
-447.84M
378.38M
-510.55M
-515.16M
1.56B
-3.22M
-3.82M
-4.54M
-5.4M
-6.41M
Ebit %
-5.03
3.46
-3.85
-3.44
8.79
-0.02
-0.02
-0.02
-0.02
Depreciation
116.83M
149.2M
189.7M
178.5M
136.7M
255.61M
303.71M
360.85M
428.75M
509.42M
Depreciation %
1.31
1.37
1.43
1.19
0.77
1.22
1.22
1.22
1.22
Balance Sheet
Year
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
Total Cash
1.97B
3.95B
3.78B
4.49B
8.41B
6.92B
8.22B
9.77B
11.61B
13.79B
Total Cash %
22.17
36.2
28.57
29.99
47.52
32.89
32.89
32.89
32.89
Receivables
360.38M
707.21M
567.12M
680.1M
902.65M
1.03B
1.22B
1.45B
1.73B
2.05B
Receivables %
4.05
6.47
4.28
4.54
5.1
4.89
4.89
4.89
4.89
Inventories
-
-
135.57M
-
-
43.05M
51.16M
60.78M
72.22M
85.81M
Inventories %
-
-
1.02
-
-
0.2
0.2
0.2
0.2
Payable
490.3M
603.27M
664.28M
747.88M
1.05B
1.14B
1.35B
1.6B
1.91B
2.26B
Payable %
5.51
5.52
5.01
5
5.95
5.4
5.4
5.4
5.4
Cap Ex
-88.12M
-96.03M
-28.24M
-6.78M
-19.21M
-94.08M
-111.78M
-132.81M
-157.8M
-187.5M
Cap Ex %
-0.99
-0.88
-0.21
-0.05
-0.11
-0.45
-0.45
-0.45
-0.45
Weighted Average Cost Of Capital
Price
644
Beta
Diluted Shares Outstanding
206.99M
Costof Debt
3.92
Tax Rate
After Tax Cost Of Debt
3.33
Risk Free Rate
Market Risk Premium
Cost Of Equity
Total Debt
2.26B
Total Equity
133.3B
Total Capital
135.56B
Debt Weighting
1.67
Equity Weighting
98.33
Wacc
12.04
Build Up Free Cash Flow
Year
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
Revenue
8.9B
10.92B
13.25B
14.97B
17.71B
21.04B
25B
29.7B
35.29B
41.93B
Ebitda
-331.01M
527.58M
-320.84M
-336.66M
1.69B
252.39M
299.88M
356.31M
423.35M
503.01M
Ebit
-447.84M
378.38M
-510.55M
-515.16M
1.56B
-3.22M
-3.82M
-4.54M
-5.4M
-6.41M
Tax Rate
15.14
15.14
15.14
15.14
15.14
15.14
15.14
15.14
15.14
15.14
Ebiat
-366.99M
-51.67M
-593.34M
-542.7M
1.32B
-2.36M
-2.8M
-3.33M
-3.96M
-4.7M
Depreciation
116.83M
149.2M
189.7M
178.5M
136.7M
255.61M
303.71M
360.85M
428.75M
509.42M
Receivables
360.38M
707.21M
567.12M
680.1M
902.65M
1.03B
1.22B
1.45B
1.73B
2.05B
Inventories
-
-
135.57M
-
-
43.05M
51.16M
60.78M
72.22M
85.81M
Payable
490.3M
603.27M
664.28M
747.88M
1.05B
1.14B
1.35B
1.6B
1.91B
2.26B
Cap Ex
-88.12M
-96.03M
-28.24M
-6.78M
-19.21M
-94.08M
-111.78M
-132.81M
-157.8M
-187.5M
Ufcf
-208.36M
-232.35M
-366.35M
-264.79M
1.52B
71.99M
201.2M
239.06M
284.04M
337.48M
Wacc
12.04
12.04
12.04
12.04
12.04
Pv Ufcf
64.25M
160.28M
169.97M
180.25M
191.15M
Sum Pv Ufcf
765.94M
Terminal Value
Growth In Perpetuity Method
Long Term Growth Rate
Wacc
12.04
Free Cash Flow T1
350.98M
Terminal Value
4.37B
Present Terminal Value
2.47B
Intrinsic Value
Enterprise Value
3.24B
Net Debt
-3.14B
Equity Value
6.38B
Diluted Shares Outstanding
206.99M
Equity Value Per Share
30.82
Projected DCF
30.82 -19.896%
