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Últimos 20 reportes · 10-K · 10-K/A · 10-Q · 8-K · Fuente: SEC EDGAR
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SEC CIK: 0001639920
A. History and Development of the Company We are a Luxembourg public limited liability company ( société anonyme ), which means that shareholders’ liability is limited to their contributions to the company. The shares forming the share capital of a Luxembourg public limited liability company ( société anonyme ) may be publicly traded and registered on a stock exchange. Our legal name is “Spotify Technology S.A.” and our commercial name is “Spotify.” We were incorporated on December 27, 2006 as a Luxembourg private limited liability company ( société à responsabilité limitée ) and were transformed, on March 20, 2009, into a Luxembourg public limited liability company ( société anonyme ). The principal legislation under which we operate, and under which our ordinary share capital has been created, is the law of August 10, 1915 on commercial companies, as amended, and the law of December 19, 2002 on the register of commerce and companies and the accounting and annual accounts of undertakings and the regulations, as amended, made thereunder. We are registered with the Luxembourg Trade and Companies’ Register under number B.123.052.
Ver más| Métrica | LTM dic 25 | 2025 | 2024 | 2023 | 🔒Premium | 🔒Premium | 🔒Premium | 🔒Premium | 🔒Premium | 🔒Premium | 🔒Premium |
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| INGRESOS Y MÁRGENES | |||||||||||
| Ingresos Totales | 18.905B | 18.905B | 17.240B | 14.572B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Cost of Revenue | 12.859B | 12.859B | 12.044B | 10.835B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Gross Profit | 6.046B | 6.046B | 5.196B | 3.737B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Gross Margin | 32.0% | 32.0% | 30.1% | 25.6% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| GASTOS OPERATIVOS | |||||||||||
| Research & Development | 1.532B | 1.532B | 1.635B | 1.897B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Selling & Marketing | 1.569B | 1.569B | 1.531B | 1.686B | 🔒 | 🔒 | |||||
| STOCK-BASED COMPENSATION | |||||||||||
| Stock-Based Compensation | 272.800M | 272.800M | 293.700M | 353.100M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| SBC / Revenue | 1.4% | 1.4% | 1.7% | 2.4% | 🔒 | 🔒 | |||||
| RESULTADO NETO | |||||||||||
| Pretax Income | 2.446B | 2.446B | 1.475B | -555.500M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Interest Expense | 292.600M | 292.600M | 387.200M | 242.000M | 🔒 | 🔒 | |||||
| RPO Y DEFERRED REVENUE (backlog plurianual) | |||||||||||
| Deferred Revenue | 782.100M | 782.100M | 751.300M | 684.200M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| LIQUIDEZ | |||||||||||
| Cash & Equivalentes | 5.784B | 5.784B | 5.259B | 3.425B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Short-term Investments | 4.630B | 4.630B | 2.934B | 1.210B | 🔒 | 🔒 | |||||
| BALANCE — ACTIVOS | |||||||||||
| PP&E Neto | 206.800M | 206.800M | 206.800M | 271.700M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Goodwill | 1.191B | 1.191B | 1.321B | 1.251B | 🔒 | 🔒 | |||||
| CAPITAL Y DEUDA | |||||||||||
| Deuda Largo Plazo | 1.604B | 1.604B | 1.693B | 1.323B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Deuda Total | 1.604B | 1.604B | 1.693B | 1.323B | 🔒 | 🔒 | |||||
| FLUJO DE CAJA Y CAPEX | |||||||||||
| Cash Flow Operativo (CFO) | 3.226B | 3.226B | 2.531B | 748.000M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Capex | 67.100M | 67.100M | 18.700M | 6.600M | 🔒 | 🔒 | |||||
| RATIOS | |||||||||||
| Gross Margin | 32.0% | 32.0% | 30.1% | 25.6% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Operating Margin | 12.8% | 12.8% | 8.7% | -3.4% | 🔒 | 🔒 | |||||
Cifras en miles de millones (B) · Fuente: SEC/EDGAR
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| General & Administrative | 526.900M | 526.900M | 529.100M | 643.500M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| SG&A combinado | 2.095B | 2.095B | 2.060B | 2.330B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Total OpEx | 3.628B | 3.628B | 3.695B | 4.227B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Depreciación & Amort. | 112.200M | 112.200M | 133.100M | 173.800M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| EBITDA | 2.530B | 2.530B | 1.635B | -316.800M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Operating Income | 2.418B | 2.418B | 1.502B | -490.600M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Operating Margin | 12.8% | 12.8% | 8.7% | -3.4% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
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| Tax Expense | 13.200M | 13.200M | 223.300M | 29.700M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Beneficio Neto | 2.433B | 2.433B | 1.252B | -585.200M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Margen Neto | 12.9% | 12.9% | 7.3% | -4.0% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| EPS Diluido | 11.56 | 11.56 | 6.05 | -3.00 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| EPS Básico | 11.85 | 11.85 | 6.24 | -3.00 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
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| Total Liquid Assets | 10.414B | 10.414B | 8.193B | 4.635B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
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| Intangibles | 45.100M | — | — | — | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Activo Total | 16.517B | 16.517B | 13.206B | 9.181B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Pasivo Total | 7.355B | 7.355B | 7.128B | 6.405B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
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| Net Debt | -8.810B | -8.810B | -6.500B | -3.312B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Patrimonio Neto | 9.162B | 9.162B | 6.077B | 2.775B | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Acciones en Circulación | 205.833M | — | — | — | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
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| Free Cash Flow (FCF) | 3.159B | 3.159B | 2.512B | 741.400M | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| FCF Margin | 16.7% | 16.7% | 14.6% | 5.1% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
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| Margen Neto | 12.9% | 12.9% | 7.3% | -4.0% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| FCF Margin | 16.7% | 16.7% | 14.6% | 5.1% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| R&D / Revenue | 8.1% | 8.1% | 9.5% | 13.0% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| S&M / Revenue | 8.3% | 8.3% | 8.9% | 11.6% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| SBC / Revenue | 1.4% | 1.4% | 1.7% | 2.4% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| ROE (avg equity) | 26.6% | 31.9% | 28.3% | -21.6% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| ROA (avg activos) | 14.7% | 16.4% | 11.2% | -6.7% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| EBITDA Margin | 13.4% | 13.4% | 9.5% | -2.2% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Capex / Ingresos | 0.3% | 0.3% | 0.1% | 0.1% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| FCF / Beneficio Neto (conversión) | 129.8% | 129.8% | 200.7% | — | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Effective Tax Rate | 0.5% | 0.5% | 15.1% | -5.3% | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
| Debt / Equity Ratio | 0.18x | — | — | — | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 | 🔒 |
Consenso de Analistas
Precio Objetivo — 12 meses
$391.79
Mínimo
-16.3%
$600.92
Mediana
+28.4%
$599.46
Promedio
+28.1%
$721.86
Máximo
+54.2%
Precio actual · USD
$482.20
P/E LTM
41.71
Precio / EPS LTM diluido
Gross Margin
32.0%
Operating Margin
12.8%
Op. income / Ingresos
Margen Neto
12.9%
Benef. neto / Ingresos
FCF Margin
16.7%
FCF / Ingresos
R&D / Revenue
8.1%
R&D / Ingresos
S&M / Revenue
8.3%
S&M / Ingresos
SBC / Revenue
1.4%
SBC / Ingresos