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Spotify Technology (MEX:SPOT N) E10 : MXN-52.87 (As of Mar. 2025)


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What is Spotify Technology E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Spotify Technology's adjusted earnings per share data for the fiscal year that ended in Dec. 2024 was MXN120.111. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is MXN-52.87 for the trailing ten years ended in Dec. 2024.

Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

As of today (2025-06-27), Spotify Technology's current stock price is MXN 14639.59. Spotify Technology's E10 for the fiscal year that ended in Dec. 2024 was MXN-52.87. Spotify Technology's Shiller PE Ratio of today is .


Spotify Technology E10 Historical Data

The historical data trend for Spotify Technology's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Spotify Technology E10 Chart

Spotify Technology Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - - -52.87

Spotify Technology Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - -52.87 -

Competitive Comparison of Spotify Technology's E10

For the Internet Content & Information subindustry, Spotify Technology's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Spotify Technology's Shiller PE Ratio Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Spotify Technology's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Spotify Technology's Shiller PE Ratio falls into.


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Spotify Technology E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Spotify Technology's adjusted earnings per share data for the fiscal year that ended in Dec. 2024 was:

Adj_EPS=Earnings per Share (Diluted) /CPI of Dec. 2024 (Change)*Current CPI (Dec. 2024)
=120.111/132.9872*132.9872
=120.111

Current CPI (Dec. 2024) = 132.9872.

Spotify Technology Annual Data

per_share_eps CPI Adj_EPS
201512 -25.677 100.276 -34.053
201612 -69.866 102.022 -91.072
201712 -161.156 103.793 -206.485
201812 -11.392 105.912 -14.304
201912 -21.584 107.766 -26.635
202012 -75.018 108.296 -92.122
202112 -23.875 112.486 -28.226
202212 -60.512 126.365 -63.683
202312 -50.534 131.912 -50.946
202412 120.111 132.987 120.111

Add all the adjusted EPS together and divide 10 will get our e10.


Spotify Technology  (MEX:SPOT N) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Spotify Technology E10 Related Terms

Thank you for viewing the detailed overview of Spotify Technology's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Spotify Technology Business Description

Address
Regeringsgatan 19, Stockholm, SWE, 111 53
Spotify is the leading global music streaming service provider, with nearly 700 million monthly active users and over 250 million paying subscribers, with the latter constituting the firm's premium segment. Most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.

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