Spotify TechnologyXSWX:SPOT -0.40%73 Net Current Asset Value is CHF20.10 as of Mar. 2026, which is 100% below its 10-year median of 45.89. GuruFocus rates XSWX:SPOT with a GF Score™ of 73/100 and a GF Value™ of CHF397.81. The stock has 2 warning signs investors should review. Among 366 Interactive Media companies, Spotify Technology ranks worse than 88.8% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Spotify Technology's net current asset value per share for the quarter that ended in Mar. 2026 was CHF20.10.
The historical rank and industry rank for Spotify Technology's Net Current Asset Value or its related term are showing as below:
XSWX:SPOT'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 17.98 Med: 45.89 Max: 3783.33
Current: 17.98
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of Spotify Technology was 3783.33. The lowest was 17.98. And the median was 45.89.
XSWX:SPOT's Price-to-Net-Current-Asset-Value is ranked worse than 88.8% of 366
companies
in the Interactive Media industry
Industry Median: 3.73
vs XSWX:SPOT: 17.98
Spotify Technology (XSWX:SPOT) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Spotify Technology Net Current Asset Value Related Terms
Spotify Technology Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Spotify Technology's Net Current Asset Value 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: Net Current Asset Value Comparison
For the Internet Content & Information subindustry, Spotify Technology's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Spotify Technology's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Spotify Technology's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of CHF20.10 mean?
Spotify Technology (XSWX:SPOT) has a Net Current Asset Value of CHF20.10 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Spotify Technology and its competitors. This is 56% below median its historical median of 45.89. Over the past decade, Spotify Technology's Net Current Asset Value has ranged from 17.98 to 3,783.33. According to the industry distribution chart, Spotify Technology ranks #325 out of 366 companies in the Interactive Media industry, placing it in the top 88.8%.
Is Spotify Technology's Net Current Asset Value too high?
Spotify Technology's current Net Current Asset Value of CHF20.10 is 56% below median its 10-year median of 45.89. Over the past 10 years, this metric has ranged from a low of 17.98 to a high of 3,783.33. Based on the distribution chart, Spotify Technology ranks #325 out of 366 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Spotify Technology has a GF Score™ of 73/100, reflecting its overall financial health beyond just this single metric.
How does Spotify Technology's Net Current Asset Value compare to NBIS and BIDU?
According to the Interactive Media industry distribution chart, Spotify Technology ranks #325 out of 366 companies for Net Current Asset Value. This places Spotify Technology in the lower half of its industry. The industry median Net Current Asset Value is 3.73. Historically, Spotify Technology's own Net Current Asset Value has ranged from 17.98 to 3,783.33 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for an Interactive Media company?
The median Net Current Asset Value among Interactive Media companies is 3.73, based on 366 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Spotify Technology and its competitors. For the Interactive Media industry, the median Net Current Asset Value is 3.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spotify Technology's current Net Current Asset Value is CHF20.10, which is 56% below median its own 10-year median of 45.89. 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 Net Current Asset Value of CHF20.10. The stock's GF Value™ is CHF397.81, compared to a current price of CHF374.00 — trading 6% below its estimated fair value. The current Net Current Asset Value is CHF20.10, which is 56% below median its 10-year median of 45.89. Spotify Technology's overall GF Score™ is 73/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Spotify Technology (XSWX:SPOT), the current Net Current Asset Value is CHF20.10 as of Mar. 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 undervalued.
The current stock price of CHF374.00 is trading 6% below its estimated GF Value™ of CHF397.81.
Key valuation signals for XSWX:SPOT:
Net Current Asset Value: CHF20.10 (56% below median its 10-year median of 45.89)
GF Value™: CHF397.81 vs. price of CHF374.00 (6% below fair value)
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.
73GF Score
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