View Future GrowthSpotify Technology 過去の業績過去 基準チェック /66Spotify Technologyは、平均年間66%の収益成長を遂げていますが、 Entertainment業界の収益は、年間 成長しています。収益は、平均年間8.8% 14.8%収益成長率で 成長しています。 Spotify Technologyの自己資本利益率は33.8%であり、純利益率は15.4%です。主要情報66.00%収益成長率65.27%EPS成長率Entertainment 業界の成長3.64%収益成長率14.76%株主資本利益率33.81%ネット・マージン15.45%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • Apr 28Full year 2025 earnings released: EPS: €10.77 (vs €5.67 in FY 2024)Full year 2025 results: EPS: €10.77 (up from €5.67 in FY 2024). Revenue: €17.2b (up 9.7% from FY 2024). Net income: €2.21b (up 94% from FY 2024). Profit margin: 13% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 26Spotify Technology S.A. to Report Q1, 2026 Results on Apr 28, 2026Spotify Technology S.A. announced that they will report Q1, 2026 results Pre-Market on Apr 28, 2026Reported Earnings • Feb 12Full year 2025 earnings released: EPS: €10.77 (vs €5.67 in FY 2024)Full year 2025 results: EPS: €10.77 (up from €5.67 in FY 2024). Revenue: €17.2b (up 9.7% from FY 2024). Net income: €2.21b (up 94% from FY 2024). Profit margin: 13% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth.お知らせ • Dec 26Spotify Technology S.A. to Report Q4, 2025 Results on Feb 10, 2026Spotify Technology S.A. announced that they will report Q4, 2025 results Pre-Market on Feb 10, 2026Reported Earnings • Nov 05Third quarter 2025 earnings released: EPS: €4.37 (vs €1.49 in 3Q 2024)Third quarter 2025 results: EPS: €4.37 (up from €1.49 in 3Q 2024). Revenue: €4.27b (up 7.1% from 3Q 2024). Net income: €899.0m (up 200% from 3Q 2024). Profit margin: 21% (up from 7.5% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 102% per year whereas the company’s share price has increased by 100% per year.お知らせ • Sep 25Spotify Technology S.A. to Report Q3, 2025 Results on Nov 04, 2025Spotify Technology S.A. announced that they will report Q3, 2025 results Pre-Market on Nov 04, 2025すべての更新を表示Recent updatesValuation Update With 7 Day Price Move • 51mInvestor sentiment improves as stock rises 21%After last week's 21% share price gain to €455, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 9x in the Entertainment industry in Italy. Total returns to shareholders of 227% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €679 per share.Reported Earnings • Apr 28Full year 2025 earnings released: EPS: €10.77 (vs €5.67 in FY 2024)Full year 2025 results: EPS: €10.77 (up from €5.67 in FY 2024). Revenue: €17.2b (up 9.7% from FY 2024). Net income: €2.21b (up 94% from FY 2024). Profit margin: 13% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • Apr 28Now 30% undervalued after recent price dropOver the last 90 days, the stock has fallen 13% to €372. The fair value is estimated to be €527, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.お知らせ • Mar 26Spotify Technology S.A. to Report Q1, 2026 Results on Apr 28, 2026Spotify Technology S.A. announced that they will report Q1, 2026 results Pre-Market on Apr 28, 2026お知らせ • Mar 07Spotify Technology S.A., Annual General Meeting, Apr 15, 2026Spotify Technology S.A., Annual General Meeting, Apr 15, 2026, at 16:00 W. Europe Standard Time. Location: arendt house, 41a, avenue j.f. kennedy, l-2082 luxembourg, grand duchy of luxembourg., LuxembourgValuation Update With 7 Day Price Move • Mar 04Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €462, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 10x in the Entertainment industry in Italy. Total returns to shareholders of 286% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €627 per share.Reported Earnings • Feb 12Full year 2025 earnings released: EPS: €10.77 (vs €5.67 in FY 2024)Full year 2025 results: EPS: €10.77 (up from €5.67 in FY 2024). Revenue: €17.2b (up 9.7% from FY 2024). Net income: €2.21b (up 94% from FY 2024). Profit margin: 13% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 11Spotify Technology S.A. Provides Earnings Guidance for the First Quarter of 2026Spotify Technology S.A. provided earnings guidance for the first quarter of 2026. For the quarter, the company expects total revenue of €4.5 billion,Assumes ~670 bps headwind to growth Y/Y (vs. ~580 bps in Q4) due to foreign exchange rate movements; based on currency rates as of Fourth Quarter close (e.g. USD: Euro of 0.8514 as of December 31st, 2025) and operating income of €660 million,Incorporates €10 million in Social Charges based on a Fourth Quarter close share price of $580.71.Valuation Update With 7 Day Price Move • Feb 06Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €355, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 12x in the Entertainment industry in Europe. Total returns to shareholders of 201% over the past three years.New Risk • Feb 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.お知らせ • Dec 26Spotify Technology S.A. to Report Q4, 2025 Results on Feb 10, 2026Spotify Technology S.A. announced that they will report Q4, 2025 results Pre-Market on Feb 10, 2026お知らせ • Dec 11Spotify Technology S.A. Announces Election of Alex Norström and Gustav Söderström as Directors, Effective January 1, 2026Spotify Technology S.A. held an extraordinary general meeting of shareholders and holders of beneficiary certificates on December 10, 2025. The Company's shareholders and holders of beneficiary certificates considered the proposal for the election of directors. Based on the votes set forth in the proxy statement dated November 5, 2025, Alex Norström (B Director) and Gustav Söderström (B Director) were elected as members of the Board of Directors, effective January 1, 2026, for a term ending at the general meeting approving the annual accounts for the financial year ending on December 31, 2025.お知らせ • Nov 20Spotify Appoints Tanmaya Trivedi as Director of SalesSpotify has appointed Tanmaya Trivedi as director of sales. He joins after spending more than ten years at Meta across category leadership roles spanning gaming, education, tech, auto, BFSI, travel, health, real estate and new business. Before Meta, Trivedi worked with Sony Pictures Networks India as assistant vice president, leading revenue and channel initiatives across SET, Sony MIX and the relaunch of SAB TV. His earlier experience includes roles at UTV during the launch of Hungama TV and sales responsibilities at Zee across news and entertainment channels. Trivedi has more than two decades of industry experience and has led teams across sales strategy, category development, cross functional planning and revenue operations.Reported Earnings • Nov 05Third quarter 2025 earnings released: EPS: €4.37 (vs €1.49 in 3Q 2024)Third quarter 2025 results: EPS: €4.37 (up from €1.49 in 3Q 2024). Revenue: €4.27b (up 7.1% from 3Q 2024). Net income: €899.0m (up 200% from 3Q 2024). Profit margin: 21% (up from 7.5% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 102% per year whereas the company’s share price has increased by 100% per year.お知らせ • Nov 05+ 1 more updateRBX, A Founding Father of West Coast Hip-Hop, Files A Class Action Lawsuit Against Spotify Concerning Alleged Streaming FraudBaron & Budd, P.C. alongside Irpino Avin & Hawkins, filed a class action lawsuit in federal court in Los Angeles on behalf of musician and hip-hop producer Eric Dwayne Collins, professionally known as RBX, against Spotify. The lawsuit asserts that, for years, the company failed to properly address streaming fraud on its platform. According to the lawsuit, "streaming fraud is carried out by deploying 'Bots,' which are automated software programs that run scripts to perform repetitive tasks on the internet at high speeds. In the context of streaming fraud, large numbers of Bots are programmed to repeatedly and continuously stream certain songs, thereby fraudulently inflating the total number of streams for that music." Among other things, the suit asserts that "billions of fraudulent streams have been generated with respect to songs of 'the most streamed artist of all time,' Aubrey Drake Graham, professionally known as Drake ("Drake")." The lawsuit explains that musicians, songwriters and others are paid. The lawsuit alleges that although streaming fraud is prohibited by Spotify and the company claims that it has policies and procedures in place to address streaming fraud, "Spotify has an incentive for turning a blind eye to the blatant streaming fraud occurring on its service." According to the lawsuit, "the more users (including fake users) Spotify has, the more advertisements it can sell, the more profits the company can report, all of which serves to increase the purported value delivered to shareholders." The lawsuit further alleges, "Spotify offers a free, ad-supported version of its streaming service, which does not require the use of a valid credit card to sign up. This creates the ideal conditions for fraudulent Bot Accounts to create fake Spotify accounts." In the lawsuit, Plaintiff Eric Dwayne Collins, who performs under the name RBX, seeks to represent a class of other artists in California and the United States who earn money from royalties on Spotify. "Not everyone who makes a living in the music business is a household name like Taylor Swift -- there are thousands of songwriters, performers, and producers who earn revenue from music streaming who you've never heard of. These people are the backbone of the music business and this case is about them," Mr. Pifko added. The complaint seeks monetary damages, injunctive relief and restitution from Spotify.お知らせ • Sep 30Spotify Technology S.A. Announces Leadership Changes, Effective January 1, 2026Spotify Technology S.A. announced that Founder and Chief Executive Officer Daniel Ek will transition to the role of Executive Chairman effective January 1, 2026. The company also announced Gustav Söderström, co-President and Chief Product and Technology Officer, and Alex Norström, co-President and Chief Business Officer, as its co-Chief Executive Officers. They will report to Daniel Ek and will also serve on the company’s Board of Directors subject to shareholder approval. This evolution formalizes how Spotify has successfully operated since 2023 with the co-presidents largely leading strategic development and operational execution of Spotify. As Executive Chairman, Ek’s role will more closely reflect a European chairman setup, where he will determine capital allocation, map the long-term future of Spotify and continue to provide support and guidance to its senior team. These changes will all be effective January 1, 2026.お知らせ • Sep 25Spotify Technology S.A. to Report Q3, 2025 Results on Nov 04, 2025Spotify Technology S.A. announced that they will report Q3, 2025 results Pre-Market on Nov 04, 2025Reported Earnings • Jul 30Second quarter 2025 earnings released: €0.42 loss per share (vs €1.37 profit in 2Q 2024)Second quarter 2025 results: €0.42 loss per share (down from €1.37 profit in 2Q 2024). Revenue: €4.19b (up 10% from 2Q 2024). Net loss: €86.0m (down 131% from profit in 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth.New Risk • Jul 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.お知らせ • Jun 26Spotify Technology S.A. to Report Q2, 2025 Results on Jul 29, 2025Spotify Technology S.A. announced that they will report Q2, 2025 results Pre-Market on Jul 29, 2025Reported Earnings • Apr 30First quarter 2025 earnings released: EPS: €1.10 (vs €0.99 in 1Q 2024)First quarter 2025 results: EPS: €1.10 (up from €0.99 in 1Q 2024). Revenue: €4.19b (up 15% from 1Q 2024). Net income: €225.0m (up 14% from 1Q 2024). Profit margin: 5.4% (in line with 1Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 79% per year whereas the company’s share price has increased by 74% per year.Buy Or Sell Opportunity • Apr 11Now 21% undervaluedOver the last 90 days, the stock has risen 7.2% to €485. The fair value is estimated to be €614, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 24% per annum over the same time period.Board Change • Apr 10Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Independent Director Mona Sutphen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.収支内訳Spotify Technology の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史BIT:1SPOT 収益、費用、利益 ( )EUR Millions日付収益収益G+A経費研究開発費31 Mar 2617,5292,7081,9161,34531 Dec 2517,1862,2121,9051,39330 Sep 2516,8971,4051,8951,47030 Jun 2516,6138061,8791,50331 Mar 2516,2271,1661,8641,47631 Dec 2415,6731,1381,8731,48630 Sep 2415,1027011,8261,38430 Jun 2414,4714661,8661,41131 Mar 2413,841-1101,9591,48531 Dec 2313,247-5322,0401,60630 Sep 2312,742-7322,1481,67230 Jun 2312,421-9632,2561,68931 Mar 2312,108-7862,2581,57231 Dec 2211,727-4302,1981,38730 Sep 2211,250-1992,0491,22530 Jun 2210,715-311,8421,04731 Mar 2210,182741,67596631 Dec 219,668-341,58591230 Sep 219,147-1201,51889130 Jun 218,621-2231,48385931 Mar 218,179-5591,46287131 Dec 207,880-5811,47183730 Sep 207,567-6651,41277830 Jun 207,323-3231,31273831 Mar 207,101-431,22462231 Dec 196,764-1861,16661530 Sep 196,4044651,00654230 Jun 196,02526796954131 Mar 195,631-5195953331 Dec 185,259-7890349330 Sep 184,913-1,11694451630 Jun 184,593-1,43793647931 Mar 184,327-1,23187643131 Dec 174,090-1,23583139631 Dec 162,952-53954320701 Jan 161,940-230325136質の高い収益: 1SPOTは 高品質の収益 を持っています。利益率の向上: 1SPOTの現在の純利益率 (15.4%)は、昨年(7.2%)よりも高くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 1SPOT過去 5 年間で収益を上げており、収益は年間66%増加しています。成長の加速: 1SPOTの過去 1 年間の収益成長率 ( 132.2% ) は、5 年間の平均 ( 年間66%を上回っています。収益対業界: 1SPOTの過去 1 年間の収益成長率 ( 132.2% ) はEntertainment業界-6.5%を上回りました。株主資本利益率高いROE: 1SPOTの 自己資本利益率 ( 33.8% ) は 高い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YMedia 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 21:49終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Spotify Technology S.A. 36 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。71 アナリスト機関William Noel MilnerArete Research Services LLPRichard KramerArete Research Services LLPSamuel LourenszArete Research Services LLP68 その他のアナリストを表示
Reported Earnings • Apr 28Full year 2025 earnings released: EPS: €10.77 (vs €5.67 in FY 2024)Full year 2025 results: EPS: €10.77 (up from €5.67 in FY 2024). Revenue: €17.2b (up 9.7% from FY 2024). Net income: €2.21b (up 94% from FY 2024). Profit margin: 13% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 26Spotify Technology S.A. to Report Q1, 2026 Results on Apr 28, 2026Spotify Technology S.A. announced that they will report Q1, 2026 results Pre-Market on Apr 28, 2026
Reported Earnings • Feb 12Full year 2025 earnings released: EPS: €10.77 (vs €5.67 in FY 2024)Full year 2025 results: EPS: €10.77 (up from €5.67 in FY 2024). Revenue: €17.2b (up 9.7% from FY 2024). Net income: €2.21b (up 94% from FY 2024). Profit margin: 13% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth.
お知らせ • Dec 26Spotify Technology S.A. to Report Q4, 2025 Results on Feb 10, 2026Spotify Technology S.A. announced that they will report Q4, 2025 results Pre-Market on Feb 10, 2026
Reported Earnings • Nov 05Third quarter 2025 earnings released: EPS: €4.37 (vs €1.49 in 3Q 2024)Third quarter 2025 results: EPS: €4.37 (up from €1.49 in 3Q 2024). Revenue: €4.27b (up 7.1% from 3Q 2024). Net income: €899.0m (up 200% from 3Q 2024). Profit margin: 21% (up from 7.5% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 102% per year whereas the company’s share price has increased by 100% per year.
お知らせ • Sep 25Spotify Technology S.A. to Report Q3, 2025 Results on Nov 04, 2025Spotify Technology S.A. announced that they will report Q3, 2025 results Pre-Market on Nov 04, 2025
Valuation Update With 7 Day Price Move • 51mInvestor sentiment improves as stock rises 21%After last week's 21% share price gain to €455, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 9x in the Entertainment industry in Italy. Total returns to shareholders of 227% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €679 per share.
Reported Earnings • Apr 28Full year 2025 earnings released: EPS: €10.77 (vs €5.67 in FY 2024)Full year 2025 results: EPS: €10.77 (up from €5.67 in FY 2024). Revenue: €17.2b (up 9.7% from FY 2024). Net income: €2.21b (up 94% from FY 2024). Profit margin: 13% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Apr 28Now 30% undervalued after recent price dropOver the last 90 days, the stock has fallen 13% to €372. The fair value is estimated to be €527, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.
お知らせ • Mar 26Spotify Technology S.A. to Report Q1, 2026 Results on Apr 28, 2026Spotify Technology S.A. announced that they will report Q1, 2026 results Pre-Market on Apr 28, 2026
お知らせ • Mar 07Spotify Technology S.A., Annual General Meeting, Apr 15, 2026Spotify Technology S.A., Annual General Meeting, Apr 15, 2026, at 16:00 W. Europe Standard Time. Location: arendt house, 41a, avenue j.f. kennedy, l-2082 luxembourg, grand duchy of luxembourg., Luxembourg
Valuation Update With 7 Day Price Move • Mar 04Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €462, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 10x in the Entertainment industry in Italy. Total returns to shareholders of 286% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €627 per share.
Reported Earnings • Feb 12Full year 2025 earnings released: EPS: €10.77 (vs €5.67 in FY 2024)Full year 2025 results: EPS: €10.77 (up from €5.67 in FY 2024). Revenue: €17.2b (up 9.7% from FY 2024). Net income: €2.21b (up 94% from FY 2024). Profit margin: 13% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 11Spotify Technology S.A. Provides Earnings Guidance for the First Quarter of 2026Spotify Technology S.A. provided earnings guidance for the first quarter of 2026. For the quarter, the company expects total revenue of €4.5 billion,Assumes ~670 bps headwind to growth Y/Y (vs. ~580 bps in Q4) due to foreign exchange rate movements; based on currency rates as of Fourth Quarter close (e.g. USD: Euro of 0.8514 as of December 31st, 2025) and operating income of €660 million,Incorporates €10 million in Social Charges based on a Fourth Quarter close share price of $580.71.
Valuation Update With 7 Day Price Move • Feb 06Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €355, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 12x in the Entertainment industry in Europe. Total returns to shareholders of 201% over the past three years.
New Risk • Feb 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.
お知らせ • Dec 26Spotify Technology S.A. to Report Q4, 2025 Results on Feb 10, 2026Spotify Technology S.A. announced that they will report Q4, 2025 results Pre-Market on Feb 10, 2026
お知らせ • Dec 11Spotify Technology S.A. Announces Election of Alex Norström and Gustav Söderström as Directors, Effective January 1, 2026Spotify Technology S.A. held an extraordinary general meeting of shareholders and holders of beneficiary certificates on December 10, 2025. The Company's shareholders and holders of beneficiary certificates considered the proposal for the election of directors. Based on the votes set forth in the proxy statement dated November 5, 2025, Alex Norström (B Director) and Gustav Söderström (B Director) were elected as members of the Board of Directors, effective January 1, 2026, for a term ending at the general meeting approving the annual accounts for the financial year ending on December 31, 2025.
お知らせ • Nov 20Spotify Appoints Tanmaya Trivedi as Director of SalesSpotify has appointed Tanmaya Trivedi as director of sales. He joins after spending more than ten years at Meta across category leadership roles spanning gaming, education, tech, auto, BFSI, travel, health, real estate and new business. Before Meta, Trivedi worked with Sony Pictures Networks India as assistant vice president, leading revenue and channel initiatives across SET, Sony MIX and the relaunch of SAB TV. His earlier experience includes roles at UTV during the launch of Hungama TV and sales responsibilities at Zee across news and entertainment channels. Trivedi has more than two decades of industry experience and has led teams across sales strategy, category development, cross functional planning and revenue operations.
Reported Earnings • Nov 05Third quarter 2025 earnings released: EPS: €4.37 (vs €1.49 in 3Q 2024)Third quarter 2025 results: EPS: €4.37 (up from €1.49 in 3Q 2024). Revenue: €4.27b (up 7.1% from 3Q 2024). Net income: €899.0m (up 200% from 3Q 2024). Profit margin: 21% (up from 7.5% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 102% per year whereas the company’s share price has increased by 100% per year.
お知らせ • Nov 05+ 1 more updateRBX, A Founding Father of West Coast Hip-Hop, Files A Class Action Lawsuit Against Spotify Concerning Alleged Streaming FraudBaron & Budd, P.C. alongside Irpino Avin & Hawkins, filed a class action lawsuit in federal court in Los Angeles on behalf of musician and hip-hop producer Eric Dwayne Collins, professionally known as RBX, against Spotify. The lawsuit asserts that, for years, the company failed to properly address streaming fraud on its platform. According to the lawsuit, "streaming fraud is carried out by deploying 'Bots,' which are automated software programs that run scripts to perform repetitive tasks on the internet at high speeds. In the context of streaming fraud, large numbers of Bots are programmed to repeatedly and continuously stream certain songs, thereby fraudulently inflating the total number of streams for that music." Among other things, the suit asserts that "billions of fraudulent streams have been generated with respect to songs of 'the most streamed artist of all time,' Aubrey Drake Graham, professionally known as Drake ("Drake")." The lawsuit explains that musicians, songwriters and others are paid. The lawsuit alleges that although streaming fraud is prohibited by Spotify and the company claims that it has policies and procedures in place to address streaming fraud, "Spotify has an incentive for turning a blind eye to the blatant streaming fraud occurring on its service." According to the lawsuit, "the more users (including fake users) Spotify has, the more advertisements it can sell, the more profits the company can report, all of which serves to increase the purported value delivered to shareholders." The lawsuit further alleges, "Spotify offers a free, ad-supported version of its streaming service, which does not require the use of a valid credit card to sign up. This creates the ideal conditions for fraudulent Bot Accounts to create fake Spotify accounts." In the lawsuit, Plaintiff Eric Dwayne Collins, who performs under the name RBX, seeks to represent a class of other artists in California and the United States who earn money from royalties on Spotify. "Not everyone who makes a living in the music business is a household name like Taylor Swift -- there are thousands of songwriters, performers, and producers who earn revenue from music streaming who you've never heard of. These people are the backbone of the music business and this case is about them," Mr. Pifko added. The complaint seeks monetary damages, injunctive relief and restitution from Spotify.
お知らせ • Sep 30Spotify Technology S.A. Announces Leadership Changes, Effective January 1, 2026Spotify Technology S.A. announced that Founder and Chief Executive Officer Daniel Ek will transition to the role of Executive Chairman effective January 1, 2026. The company also announced Gustav Söderström, co-President and Chief Product and Technology Officer, and Alex Norström, co-President and Chief Business Officer, as its co-Chief Executive Officers. They will report to Daniel Ek and will also serve on the company’s Board of Directors subject to shareholder approval. This evolution formalizes how Spotify has successfully operated since 2023 with the co-presidents largely leading strategic development and operational execution of Spotify. As Executive Chairman, Ek’s role will more closely reflect a European chairman setup, where he will determine capital allocation, map the long-term future of Spotify and continue to provide support and guidance to its senior team. These changes will all be effective January 1, 2026.
お知らせ • Sep 25Spotify Technology S.A. to Report Q3, 2025 Results on Nov 04, 2025Spotify Technology S.A. announced that they will report Q3, 2025 results Pre-Market on Nov 04, 2025
Reported Earnings • Jul 30Second quarter 2025 earnings released: €0.42 loss per share (vs €1.37 profit in 2Q 2024)Second quarter 2025 results: €0.42 loss per share (down from €1.37 profit in 2Q 2024). Revenue: €4.19b (up 10% from 2Q 2024). Net loss: €86.0m (down 131% from profit in 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth.
New Risk • Jul 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.
お知らせ • Jun 26Spotify Technology S.A. to Report Q2, 2025 Results on Jul 29, 2025Spotify Technology S.A. announced that they will report Q2, 2025 results Pre-Market on Jul 29, 2025
Reported Earnings • Apr 30First quarter 2025 earnings released: EPS: €1.10 (vs €0.99 in 1Q 2024)First quarter 2025 results: EPS: €1.10 (up from €0.99 in 1Q 2024). Revenue: €4.19b (up 15% from 1Q 2024). Net income: €225.0m (up 14% from 1Q 2024). Profit margin: 5.4% (in line with 1Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 79% per year whereas the company’s share price has increased by 74% per year.
Buy Or Sell Opportunity • Apr 11Now 21% undervaluedOver the last 90 days, the stock has risen 7.2% to €485. The fair value is estimated to be €614, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 24% per annum over the same time period.
Board Change • Apr 10Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Independent Director Mona Sutphen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.