SPOT - NYSE
Spotify Technology S.A.
$487.54
-2.8%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.
At a Glance
Live SnapshotSpotify Technology S.A. Fair Value Envelope
Owner Earnings Valuation Tool
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Historical Financial Data
Base year metrics used for projections
Projection Settings
Forecast period and terminal assumptions
DCF Valuation Summary
Calculation flow from present value to intrinsic value per share
Owner Earnings Projections
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.7B | $4.6B | $5.8B | $7.3B | $9.2B | $11.6B | $14.6B | $18.3B | $23.1B | $29.0B |
| Maintenance CapEx | -$15.3M | -$19.3M | -$24.3M | -$30.5M | -$38.4M | -$48.2M | -$60.6M | -$76.3M | -$95.9M | -$120.6M |
| Owner Earnings | $3.7B | $4.6B | $5.8B | $7.3B | $9.2B | $11.5B | $14.5B | $18.3B | $23.0B | $28.9B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $3.4B | $4.0B | $4.6B | $5.4B | $6.2B | $7.3B | $8.5B | $9.9B | $11.5B | $13.4B |
Related Guides
Continue your SPOT research with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.