your badges 52W Range $405–$673 50% of range Analyst Rating BUY 47 analysts Price Target $632 +17% upside P/E 55.3 ROE 31.9% Net Profit Margin 12.9%

SPOT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $538.40
P/E 55.3
EPS $10.51
Revenue $17.19B
ROE 31.9%
52W Range $405–$673

SPOT Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$17.19B
2016-12-31 → 2025-12-31
EPS$10.51
2016-12-31 → 2025-12-31
Free Cash Flow$2.87B
2018-12-31 → 2025-12-31
Net margin12.9%
2018-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend SPOT 5Y avg Peer Median Verdict
P/E 55.35Y avg ≈-37.3 ≈-37.3 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise -8.3%
Next Report Nov 02, 2026
PeriodReportEPS ActualEPS EstSurprise
Sept. 30, 2026 Nov 2, 2026 $2.48 $2.86 -13.2%
June 30, 2026 Jul 20, 2026 $2.61 $2.79 -6.6%
March 31, 2026 $3.45 $3.02 14.3%
Dec. 31, 2025 $4.43 $2.79 58.6%
Sept. 30, 2025 $3.28 $2.01 62.8%
June 30, 2025 $-0.42 $1.94 -121.7%
March 31, 2025 $1.07 $2.24 -52.3%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 16
Metric Trend 202520242023202220212020201920182017
Revenue $17.19B$15.67B$13.25B$11.73B$9.67B$7.88B$6.76B$5.26B$4.09B
Cost of Revenue $11.69B$10.95B$9.85B$8.80B$7.08B$5.87B$5.04B$3.91B$3.24B
Gross Profit $5.50B$4.72B$3.40B$2.93B$2.59B$2.02B$1.72B$1.35B$849M
R&D Expense $1.39B$1.49B$1.73B$1.39B$912M$837M$615M$493M$396M
SG&A Expense $479M$481M$585M$626M$450M$442M$354M$283M$264M
Operating Income $2.20B$1.36B$-446M$-659M$94M$-293M$-73M$-43M$-378M
Interest Expense $266M$352M$220M$132M$91M$510M$333M$584M$974M
Interest Income $292M$328M$161M$421M$246M$94M$275M$455M$118M
Pretax Income $2.22B$1.34B$-505M$-370M$249M$-709M$-131M$-173M$-1.23B
Income Tax $12M$203M$27M$60M$283M$-128M$55M$-95M$2M
Net Income $2.21B$1.14B$-532M$-430M$-34M$-581M$-186M$-78M$-1.24B
EPS (Basic) $10.77$5.67$-2.73$-2.23$-0.18$-3.10$-1.03$-0.44$-8.14
EPS (Diluted) $10.51$5.50$-2.73$-2.93$-1.03$-3.10$-1.03$-0.51$-8.14
Shares (Basic) 205,412,951200,622,518194,732,304192,934,862191,298,397187,583,307180,960,579177,154,405151,668,769
Shares (Diluted) 210,509,173206,990,369194,732,304195,846,362193,943,455187,583,307180,960,579181,210,292151,668,769
EBITDA $2.20B$1.36B$-446M$-659M$94M$-293M$-73M$-43M·
Balance Sheet 12
Metric Trend 202520242023202220212020201920182017
Cash & Equivalents $5.26B$4.78B$3.11B$2.48B$2.74B$1.15B$1.06B$891M$477M
Receivables $802M$771M$858M$690M$621M$464M$402M$400M$360M
Current Assets $10.50B$8.38B$5.26B$4.35B$4.37B$2.37B$2.23B$2.25B$1.90B
PP&E (Net) $188M$188M$247M$348M$372M$313M$291M$197M$73M
Goodwill $1.08B$1.20B$1.14B$1.17B$894M$736M$478M$146M·
Intangibles $41M$48M$84M$127M$89M$97M$58M$28M$27M
Total Assets $15.02B$12.01B$8.35B$7.64B$7.17B$6.33B$5.12B$4.34B$3.11B
Accounts Payable $1.19B$1.34B$978M$845M$793M$638M$549M$427M$341M
Current Liabilities $6.08B$4.45B$4.09B$3.52B$3.23B$2.90B$2.44B$2.15B$1.86B
Total Liabilities $6.69B$6.48B$5.82B$5.24B$5.05B$3.52B$3.08B$2.24B$2.87B
Retained Earnings $-832M$-3.04B$-4.18B$-3.65B$-3.22B$-3.29B$-2.71B$-2.50B$-2.43B
Stockholders' Equity $8.33B$5.53B$2.52B$2.40B$2.12B$2.81B$2.04B$2.09B$238M
Cash Flow 6
Metric Trend 202520242023202220212020201920182017
Operating Cash Flow $2.93B$2.30B$680M$46M$361M$259M$573M$344M$179M
CapEx $61M$17M$6M$25M$85M$78M$135M$125M$36M
Investing Cash Flow $-1.78B$-1.49B$-217M$-423M$-187M$-372M$-218M$-22M$-435M
Financing Cash Flow $-381M$729M$234M$-40M$1.25B$285M$-203M$92M$34M
Free Cash Flow $2.87B$2.28B$674M$21M$276M$181M$438M$219M·
Levered FCF $2.61B$1.99B$442M$-132M$288M$-237M$-35M$-44M·
Profitability 8
Metric Trend 202520242023202220212020201920182017
Gross Margin 32.0%30.1%25.6%24.9%26.8%25.6%25.5%25.7%·
Operating Margin 12.8%8.7%-3.4%-5.6%0.97%-3.7%-1.1%-0.82%·
Net Margin 12.9%7.3%-4.0%-3.7%-0.35%-7.4%-2.8%-1.5%·
Pretax Margin 12.9%8.6%-3.8%-3.2%2.6%-9.0%-1.9%-3.3%·
EBITDA Margin 12.8%8.7%-3.4%-5.6%0.97%-3.7%-1.1%-0.82%·
ROA 16.4%11.2%-6.7%-5.8%-0.50%-10.2%-3.9%-2.1%·
ROE 31.9%28.3%-21.6%-19.0%-1.4%-24.0%-9.0%-6.7%·
ROIC 26.2%21.0%-18.6%-31.9%-0.61%-8.6%-5.1%-0.93%·
Liquidity & Solvency 3
Metric Trend 202520242023202220212020201920182017
Current Ratio 1.71.91.31.21.40.80.91.0·
Quick Ratio 1.01.21.00.91.00.60.60.6·
Interest Coverage 8.33.9-2.0-5.01.0-0.6-0.2-0.1·
Efficiency 2
Metric Trend 202520242023202220212020201920182017
Asset Turnover 1.31.51.71.61.41.41.41.4·
Receivables Turnover 21.919.217.117.917.818.216.913.8·
Per Share 3
Metric Trend 202520242023202220212020201920182017
Revenue / Share $81.64$75.72$68.03$59.88$49.85$42.01$37.38$29.02·
Cash Flow / Share $13.93$11.12$3.49$0.23$1.86$1.38$3.17$1.90·
EPS (TTM) $10.51$5.50$-2.73$-2.93$-1.03$-3.10$-1.03$-0.51·
Valuation (TTM) 4
Metric Trend 202520242023202220212020201920182017
Revenue TTM $17.19B$15.67B$13.25B$11.73B$9.67B$7.88B$6.76B$5.26B·
Net Income TTM $2.21B$1.14B$-532M$-430M$-34M$-581M$-186M$-78M·
P/E 55.381.3-68.8-26.9-227.2-101.5-145.2-222.5·
Earnings Yield 1.8%1.2%-1.5%-3.7%-0.44%-0.99%-0.69%-0.45%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $17.19B $15.67B $13.25B $11.73B $9.67B
Gross Margin % 32.0% 30.1% 25.6% 24.9% 26.8%
Operating Margin % 12.8% 8.7% -3.4% -5.6% 0.97%
Net Income $2.21B $1.14B $-532M $-430M $-34M
Diluted EPS $10.51 $5.50 $-2.73 $-2.93 $-1.03

Institutional owners (13F) 1,414 filers · $67.0B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 1,414
Value held $67.0B
New positions 166
Exited positions 168
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
166 (-76 vs prior Q) 168 (-60 vs prior Q) 481 (-55 vs prior Q) 514 (+95 vs prior Q) -1.3M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
BlackRock, Inc. $5,000,356,260 10,890,937 7.46% Shares
BAILLIE GIFFORD & CO $3,640,189,707 7,928,451 5.43% Shares
MORGAN STANLEY $3,405,991,806 7,418,358 5.08% Shares
STATE STREET CORP $2,127,395,843 4,633,537 3.17% Shares
WELLINGTON MANAGEMENT GROUP LLP $1,428,607,330 3,111,553 2.13% Shares
WCM INVESTMENT MANAGEMENT, LLC $1,313,124,112 2,840,477 1.96% Shares
JENNISON ASSOCIATES LLC $1,289,894,699 2,809,432 1.92% Shares
Fisher Asset Management, LLC $1,228,024,574 2,674,677 1.83% Shares
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main $1,131,092,513 2,463,556 1.69% Shares
BAMCO INC /NY/ $1,117,115,631 2,433,114 1.67% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,009,535,044 2,198,800 1.51% Put option
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ $990,351,417 2,133,009 1.48% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $906,598,098 1,974,600 1.35% Call option
DEUTSCHE BANK AG\ $858,457,859 1,869,749 1.28% Shares
GOLDMAN SACHS GROUP INC $843,064,070 1,836,221 1.26% Shares
JANUS HENDERSON GROUP PLC $829,641,158 1,711,015 1.24% Shares
SANDS CAPITAL MANAGEMENT, LLC $808,622,511 1,761,206 1.21% Shares
CITADEL ADVISORS LLC $804,212,108 1,751,600 1.20% Call option
GEODE CAPITAL MANAGEMENT, LLC $798,590,069 1,752,937 1.19% Shares
Harding Loevner LP $741,500,478 1,598,173 1.11% Shares
PRINCIPAL FINANCIAL GROUP INC $736,111,111 1,603,274 1.10% Shares
NORTHERN TRUST CORP $666,942,798 1,452,623 0.99% Shares
JPMORGAN CHASE & CO $657,448,859 1,422,154 0.98% Shares
Artisan Partners Limited Partnership $622,829,408 1,356,543 0.93% Shares
BANK OF AMERICA CORP /DE/ $612,096,397 1,333,166 0.91% Shares
NORGES BANK $610,973,014 1,330,719 0.91% Shares
COATUE MANAGEMENT LLC $601,750,470 1,310,632 0.90% Shares
VANGUARD GROUP INC $600,577,831 1,034,213 0.90% Shares
Swedbank AB $587,052,135 1,204,506 0.88% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $557,273,120 1,149,230 0.83% Shares
TIGER GLOBAL MANAGEMENT LLC $537,837,279 1,171,427 0.80% Shares
FRANKLIN RESOURCES INC $529,875,965 1,154,087 0.79% Shares
SCHRODER INVESTMENT MANAGEMENT GROUP $484,885,815 1,056,097 0.72% Shares
JANE STREET GROUP, LLC $481,168,240 1,048,000 0.72% Put option
Capital International Investors $477,492,434 1,039,813 0.71% Shares
FMR LLC $466,513,943 1,016,083 0.70% Shares
Technology Crossover Management XI, Ltd. $459,130,000 1,000,000 0.68% Shares
Legal & General Group Plc $454,437,221 989,779 0.68% Shares
BROWN ADVISORY INC $448,771,401 977,422 0.67% Shares
Capital World Investors $395,908,336 862,301 0.59% Shares
Point72 Asset Management, L.P. $387,984,133 845,042 0.58% Shares
CITADEL ADVISORS LLC $387,000,677 842,900 0.58% Put option
Amundi $381,627,478 831,197 0.57% Shares
UBS Group AG $378,402,090 824,172 0.56% Shares
VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. $375,832,340 818,575 0.56% Shares
CANADA PENSION PLAN INVESTMENT BOARD $370,996,783 808,043 0.55% Shares
Nuveen, LLC $365,503,294 796,078 0.55% Shares
Alyeska Investment Group, L.P. $356,023,635 775,431 0.53% Shares
BARCLAYS PLC $355,779,836 774,900 0.53% Shares
VICTORY CAPITAL MANAGEMENT INC $342,175,243 745,220 0.51% Shares

Show all 1,414 institutional owners →

Company insiders 15 insiders · 6 officers · 11 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Gustav Soderstrom Co-Chief Executive Officer Oct. 12, 2026 M 19,908 0 48 $-72,182,806
Alex Norstrom Co-Chief Executive Officer Oct. 1, 2026 F 65,156 0 19 $-13,012,798
Christian Luiga Chief Financial Officer Oct. 1, 2026 F 8,817 0 0 $0
Anna Lundstrom Chief Human Resources Officer Oct. 1, 2026 F 16,254 0 0 $0
Dustee Jenkins Chief Public Affairs Officer Oct. 1, 2026 A 41,008 0 2 $-1,954,226
John P Giraldo Chief Accounting Officer Oct. 1, 2026 F 1,810 0 0 $0
Shishir Mehrotra Director May 28, 2026 A · 0 0 $0
Sven Hans Martin Lorentzon Director May 28, 2026 A 6,383 0 1 $-18,600,327
Mona Sutphen Director May 28, 2026 A · 0 0 $0
Heidi O'Neill Director May 28, 2026 A 10,060 0 0 $0
Christopher P Marshall Director May 28, 2026 A 4,697 0 1 $-1,377,629
Theodore A Sarandos Director May 28, 2026 A 19,907 0 0 $0
Barry Mccarthy Director May 28, 2026 A 351,332 0 0 $0
Thomas O Staggs Director May 28, 2026 A 3,619 0 1 $-2,880,902
WARRIOR PADMASREE Director May 28, 2026 A 11,413 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 49 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
EWD · iShares, Inc. 10.07% 143,451 SH Sept. 11, 2026 Daily
MUSQ · EXCHANGE TRADED CONCEPTS TRUST 9.55% 4,235 NS July 31, 2026 N-PORT
GGME · Invesco Exchange-Traded Fund Trust 4.78% 3,766 SH Oct. 28, 2026 Daily
SOCL · Global X Funds 4.72% 8,581 NS July 31, 2026 N-PORT
PNQI · Invesco Exchange-Traded Fund Trust 3.06% 29,299 SH Oct. 28, 2026 Daily
AIFD · TCW ETF Trust 1.89% 4,733 NS July 31, 2026 N-PORT
THNQ · EXCHANGE TRADED CONCEPTS TRUST 1.52% 12,613 NS July 31, 2026 N-PORT
IYC · iShares Trust 1.43% 31,637 SH Sept. 11, 2026 Daily
RILA · Spinnaker ETF Series 1.10% 928 NS July 31, 2026 N-PORT
EFG · iShares Trust 0.71% 226,925 SH Sept. 11, 2026 Daily
DMXF · iShares Trust 0.70% 12,710 SH Sept. 11, 2026 Daily
IEUR · iShares Trust 0.49% 85,819 SH Sept. 11, 2026 Daily
TOUS · T. Rowe Price Exchange-Traded Funds… 0.48% 15,228 NS July 31, 2026 N-PORT
ACVF · ETF Opportunities Trust 0.44% 1,347 NS July 31, 2026 N-PORT
CEFA · Global X Funds 0.38% 426 NS July 31, 2026 N-PORT
EFA · iShares Trust 0.35% 523,218 SH Sept. 11, 2026 Daily
PABD · iShares Trust 0.30% 1,907 SH Sept. 11, 2026 Daily
IEFA · iShares Trust 0.30% 1,108,061 SH Sept. 11, 2026 Daily
IWY · iShares Trust 0.29% 86,788 SH Sept. 11, 2026 Daily
TIER · T. Rowe Price Exchange-Traded Funds… 0.28% 197 NS July 31, 2026 N-PORT
LRGF · iShares Trust 0.27% 19,191 SH Sept. 11, 2026 Daily
IDEV · iShares Trust 0.26% 163,964 SH Sept. 11, 2026 Daily
IWF · iShares Trust 0.25% 593,662 SH Sept. 11, 2026 Daily
ESGD · iShares Trust 0.24% 56,444 SH Sept. 11, 2026 Daily
VONG · VANGUARD SCOTTSDALE FUNDS 0.21% 250,177 SH Aug. 19, 2026 Daily
ACWX · iShares Trust 0.20% 48,728 SH Sept. 11, 2026 Daily
GLOF · iShares Trust 0.18% 708 SH Sept. 11, 2026 Daily
IXUS · iShares Trust 0.18% 203,063 SH Sept. 11, 2026 Daily
IWL · iShares Trust 0.15% 6,148 SH Sept. 11, 2026 Daily
VFQY · VANGUARD WELLINGTON FUND 0.13% 1,338 SH Aug. 19, 2026 Daily
ESGV · VANGUARD WORLD FUND 0.12% 35,712 SH Aug. 19, 2026 Daily
IWB · iShares Trust 0.12% 109,488 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.11% 43,386 SH Sept. 11, 2026 Daily
DFUS · Dimensional ETF Trust 0.10% 43,404 NS July 31, 2026 N-PORT
VONE · VANGUARD SCOTTSDALE FUNDS 0.10% 26,166 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.10% 13,300 SH Aug. 19, 2026 Daily
DFSU · Dimensional ETF Trust 0.09% 4,071 NS July 31, 2026 N-PORT
TOK · iShares Trust 0.09% 403 SH Sept. 11, 2026 Daily
URTH · iShares, Inc. 0.08% 13,205 SH Sept. 11, 2026 Daily
ACWI · iShares Trust 0.07% 46,960 SH Sept. 11, 2026 Daily
CRBN · iShares Trust 0.07% 1,456 SH Sept. 11, 2026 Daily
EQAL · Invesco Exchange-Traded Fund Trust … 0.06% 957 SH Oct. 28, 2026 Daily
DFAU · Dimensional ETF Trust 0.06% 15,062 NS July 31, 2026 N-PORT
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.06% 131,949 SH Aug. 19, 2026 Daily
OMFL · Invesco Exchange-Traded Self-Indexe… 0.05% 4,369 SH Oct. 28, 2026 Daily
PXF · Invesco Exchange-Traded Fund Trust … 0.05% 2,439 SH Oct. 28, 2026 Daily
DCOR · Dimensional ETF Trust 0.04% 2,467 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.02% 21,214 NS July 31, 2026 N-PORT
NPFE · Elevation Series Trust 0.00% 24 NS July 31, 2026 N-PORT

SPOT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 47 analysts BUY
Median target $650.58 +20.8%
13 27.7% Strong Buy
24 51.1% Buy
10 21.3% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

37 analysts · 2026-10-25

Mean target $632.42 +17.5%

Now Current price $538.40
Low$459.64 Mean$632.42 High$750.67

Latest News Recent headlines mentioning this company

23
Is Spotify Technology S.A. (SPOT) A Good Stock To Buy Now? Yahoo Finance · Spotify sets 2030 financial targets, unveils AI remix tool with UMG at Investor Day Yahoo Finance · Spotify stock pops on guidance at first investor day since 2022 CNBC · 2 Growth Stocks Down 40% to Buy Right Now Nasdaq · Spotify adds 'Verified' badges to distinguish human artists from AI BBC Business · Is Spotify Stock's More Than 40% Decline a Buying Opportunity? Or Is the Stock Still Overvalued? Nasdaq · Spotify Hits 293 Million Subscribers Yahoo Finance · Spotify Technology S.A. (SPOT) Slid by 16.6% in Q1 Due to Concerns Over Impact of AI Yahoo Finance · SPOG Crosses Critical Technical Indicator Nasdaq · Spotify stock tanks as company misses analyst estimates on subscriber outlook Yahoo Finance ·

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

25
BLUECHIP_DIP Stopped out Sep 9, 2026
risk 1 reward 1.85
entry $531.66 R:R 1.85

No open signal right now — no card is filled, and that's honest.

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

Pick the metrics that matter to you — click the + next to any row in Full Fundamentals above.

Your selection is saved and follows you across all tickers.

Source: SEC 20-F filed Feb 10, 2026