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Spotify TechnologyXSWX:SPOT 77 EV-to-OCF is 23.86 as of Jul. 23, 2026, which is 61% below its 10-year median of 61.83. GuruFocus rates XSWX:SPOT with a GF Score™ of 77/100 and a GF Value™ of CHF391.82. The stock has 2 warning signs investors should review. Among 565 Interactive Media companies, Spotify Technology ranks worse than 87.61% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Spotify Technology's Enterprise Value is CHF71,560 Mil.
Spotify Technology's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was CHF2,999 Mil. Therefore, Spotify Technology's EV-to-OCF for today is 23.86.
The historical rank and industry rank for Spotify Technology's EV-to-OCF or its related term are showing as below:
XSWX:SPOT'
s EV-to-OCF Range Over the Past 10 Years
Min: 20.72 Med: 61.83 Max: 739.37
Current: 24.47
During the past 11 years, the highest EV-to-OCF of Spotify Technology was 739.37. The lowest was 20.72. And the median was 61.83.
XSWX:SPOT's EV-to-OCF is ranked worse than 87.61% of 565
companies
in the Interactive Media industry
Industry Median: 3.61
vs XSWX:SPOT: 24.47
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Spotify Technology's PE Ratio (TTM) for today is calculated as:
Spotify Technology's share price for today is CHF393.00.
Spotify Technology's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF9.945.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Spotify Technology EV-to-OCF Related Terms
Spotify Technology EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Spotify Technology's EV-to-OCF 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.
XSWX:SPOT vs NBIS, BIDU, RDDT: EV-to-OCF Comparison
For the Internet Content & Information subindustry, Spotify Technology's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Spotify Technology's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Spotify Technology's EV-to-OCF falls into.
Spotify Technology's current Enterprise Value is CHF71,560 Mil.
Spotify Technology's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF2,999 Mil.
* 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.
Spotify Technology (XSWX:SPOT) has a EV-to-OCF of 23.86 as of Jul. 23, 2026. This is 61% below median its historical median of 61.83. Over the past decade, Spotify Technology's EV-to-OCF has ranged from 20.72 to 739.37. According to the industry distribution chart, Spotify Technology ranks #495 out of 565 companies in the Interactive Media industry, placing it in the top 87.6%.
Is Spotify Technology's EV-to-OCF too high?
Spotify Technology's current EV-to-OCF of 23.86 is 61% below median its 10-year median of 61.83. Over the past 10 years, this metric has ranged from a low of 20.72 to a high of 739.37. The Interactive Media industry median EV-to-OCF is 3.61. Spotify Technology's value of 23.86 is 560.9% above this industry median. Based on the distribution chart, Spotify Technology ranks #495 out of 565 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Spotify Technology has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.
How does Spotify Technology's EV-to-OCF compare to NBIS and BIDU?
According to the Interactive Media industry distribution chart, Spotify Technology ranks #495 out of 565 companies for EV-to-OCF. This places Spotify Technology in the lower half of its industry. The industry median EV-to-OCF is 3.61. Spotify Technology's value of 23.86 is 560.9% above this benchmark. Historically, Spotify Technology's own EV-to-OCF has ranged from 20.72 to 739.37 over the past decade. While the company's 10-year median is 61.83 vs. the industry median of 3.61, Spotify Technology has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for an Interactive Media company?
The median EV-to-OCF among Interactive Media companies is 3.61, based on 565 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spotify Technology's current EV-to-OCF of 23.86 is 560.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Interactive Media industry, the median EV-to-OCF is 3.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spotify Technology's current EV-to-OCF is 23.86, which is 61% below median its own 10-year median of 61.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spotify Technology stock overvalued right now?
Spotify Technology (XSWX:SPOT) has a current EV-to-OCF of 23.86. The stock's GF Value™ is CHF391.82, compared to a current price of CHF393.00 — trading 0.3% above its estimated fair value. The current EV-to-OCF is 23.86, which is 61% below median its 10-year median of 61.83 and 560.9% above the Interactive Media industry median of 3.61. Spotify Technology's overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Spotify Technology (XSWX:SPOT), the current EV-to-OCF is 23.86 as of Jul. 23, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Spotify Technology (XSWX:SPOT) Overvalued in 2026?
Based on GuruFocus' analysis, Spotify Technology stock appears to be overvalued.
The current stock price of CHF393.00 is trading 0.3% above its estimated GF Value™ of CHF391.82.
Key valuation signals for XSWX:SPOT:
EV-to-OCF: 23.86 (61% below median its 10-year median of 61.83)
GF Value™: CHF391.82 vs. price of CHF393.00 (0.3% above fair value)
Industry Position: 560.9% above the Interactive Media median (#495 of 565)
No single metric tells the full story. See the XSWX:SPOT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spotify is the leading global music streaming service, with over 750 million monthly active users and nearly 300 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 subscribers, who pay a monthly fee to access a music library that includes most of the most popular songs ever recorded, including all from the major record labels. The firm also offers access to audiobooks 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.
77GF Score
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