Spotify TechnologySPOT +2.26%77 EV-to-FCF is 24.98 as of Jul. 07, 2026, which is 65% below its 10-year median of 70.53. GuruFocus rates SPOT with a GF Score™ of 77/100 and a GF Value™ of $489.81 (Fairly Valued). The stock has 2 warning signs investors should review. Among 339 Interactive Media companies, Spotify Technology ranks worse than 77.88% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Spotify Technology's Enterprise Value is $92,148 Mil.
Spotify Technology's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $3,690 Mil. Therefore, Spotify Technology's EV-to-FCF for today is 24.98.
The historical rank and industry rank for Spotify Technology's EV-to-FCF or its related term are showing as below:
SPOT'
s EV-to-FCF Range Over the Past 10 Years
Min: 21.11 Med: 70.53 Max: 1121.67
Current: 24.98
During the past 11 years, the highest EV-to-FCF of Spotify Technology was 1121.67. The lowest was 21.11. And the median was 70.53.
SPOT's EV-to-FCF is ranked worse than 77.88% of 339
companies
in the Interactive Media industry
Industry Median: 10.48
vs SPOT: 24.98
EV-to-FCF 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-FCF 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 $493.95.
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 $12.541.
* 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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Spotify Technology EV-to-FCF Related Terms
Spotify Technology EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Spotify Technology's EV-to-FCF 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.
For the Internet Content & Information subindustry, Spotify Technology's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Spotify Technology's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Spotify Technology's EV-to-FCF falls into.
Spotify Technology's current Enterprise Value is $92,148 Mil.
Spotify Technology's Free Cash Flow 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 $3,690 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 (SPOT) has a EV-to-FCF of 24.98 as of Jul. 07, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Spotify Technology and its competitors. This is 65% below median its historical median of 70.53. Over the past decade, Spotify Technology's EV-to-FCF has ranged from 21.11 to 1,121.67. According to the industry distribution chart, Spotify Technology ranks #264 out of 339 companies in the Interactive Media industry, placing it in the top 77.9%.
Is Spotify Technology's EV-to-FCF too high?
Spotify Technology's current EV-to-FCF of 24.98 is 65% below median its 10-year median of 70.53. Over the past 10 years, this metric has ranged from a low of 21.11 to a high of 1,121.67. The Interactive Media industry median EV-to-FCF is 10.48. Spotify Technology's value of 24.98 is 138.4% above this industry median. Based on the distribution chart, Spotify Technology ranks #264 out of 339 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 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Spotify Technology's EV-to-FCF compare to NBIS and BIDU?
According to the Interactive Media industry distribution chart, Spotify Technology ranks #264 out of 339 companies for EV-to-FCF. This places Spotify Technology in the lower half of its industry. The industry median EV-to-FCF is 10.48. Spotify Technology's value of 24.98 is 138.4% above this benchmark. Historically, Spotify Technology's own EV-to-FCF has ranged from 21.11 to 1,121.67 over the past decade. While the company's 10-year median is 70.53 vs. the industry median of 10.48, 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-FCF for an Interactive Media company?
The median EV-to-FCF among Interactive Media companies is 10.48, based on 339 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spotify Technology's current EV-to-FCF of 24.98 is 138.4% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Spotify Technology and its competitors. For the Interactive Media industry, the median EV-to-FCF is 10.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spotify Technology's current EV-to-FCF is 24.98, which is 65% below median its own 10-year median of 70.53. 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?
Based on GuruFocus' analysis, Spotify Technology (SPOT) is currently considered Fairly Valued. The stock's GF Value™ is $489.81, compared to a current price of $493.95 — trading 0.8% above its estimated fair value. The current EV-to-FCF is 24.98, which is 65% below median its 10-year median of 70.53 and 138.4% above the Interactive Media industry median of 10.48. 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-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Spotify Technology (SPOT), the current EV-to-FCF is 24.98 as of Jul. 07, 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 (SPOT) Overvalued in 2026?
Based on GuruFocus' analysis, Spotify Technology stock appears to be overvalued.
The current stock price of $493.95 is trading 0.8% above its estimated GF Value™ of $489.81.
GuruFocus considers Spotify Technology to be Fairly Valued.
Key valuation signals for SPOT:
EV-to-FCF: 24.98 (65% below median its 10-year median of 70.53)
GF Value™: $489.81 vs. price of $493.95 (0.8% above fair value)
Industry Position: 138.4% above the Interactive Media median (#264 of 339)
No single metric tells the full story. See the 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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