SPOTSpotify Technology S.A.

$497.41-31% 1Y
Latest close: below its 200-day averageSep 28, 2026what changed →

RyuScore

Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.

RyuScore 55 out of 100, Average
Today's price. Only valuation depends on it.

Average. Spotify Technology S.A. scores higher than 58% of the 1,794 companies Ryufin scores.

Carried by return on new capital and return on capital, held back by valuation.

Communication Services median 55 · all companies 50

Valuation

26% of the score, 30% here after data gaps

0median 13

Spotify Technology S.A. is valued at 39.5x its operating profit, including debt: past the 25 times where this criterion gives nothing.

25x
20x
15x
10x
6x
39.5x
Full points at 6x or less, none from 25xfull points

Return on capital

18% of the score, 20% here after data gaps

75median 34

Over 7 years the business earned 14% a year after tax on the capital it uses.

2%
8%
15%
25%
14%
None at 2% or less, full points from 25%full points
Return on capital by year
7 years agolatest 55%

Return on new capital

16% of the score, 18% here after data gaps

100median 49

For every dollar of operating profit earned over 6 years, yearly profit grew by 78 cents. New capital earned 81%, and 96% of profit went back into the business.

-5%
12%
78%
None at minus 5 cents, full points from 12 centsfull points

Capital allocation

14% of the score, 16% here after data gaps

49median 64

How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.

Share countUp 2.3% a year over 5 years: new shares
33
5%
-3%
2.3%
0 pointsfull points
Assets against salesAssets grew 19% a year, sales 17%
72
12%
-2%
2%
0 pointsfull points

Cycle position

Taken out: its 12% is shared by the others

n/ano data

Margins have been too thin to measure a cycle against.

Balance sheet

8% of the score, 9% here after data gaps

82median 50

What the debt weighs against the profit that has to carry it.

Net debt to EBITDAMore cash than debt
100
Interest coverOperating profit covers interest 8x
64
1.5x
12x
8.3x
0 pointsfull points

Earnings quality

6% of the score, 7% here after data gaps

93median 90

Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.

Cash against profitOperating cash flow was 2.10x profit over 3 years
100
0.7x
1x
1.3x
2.1x
0 pointsfull points
AccrualsCash ran ahead of profit by 5.3% of assets
87
8%
0%
-8%
-5.3%
0 pointsfull points

How the RyuScore works

Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. For SPOT, cycle position could not be measured from the filings, so it is taken out and the remaining weights scale up.

Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2025-12-31, latest annual report FY2025.