The historical rank and industry rank for Spotify Technology's PB Ratio or its related term are showing as below:
XSWX:SPOT'
s PB Ratio Range Over the Past 10 Years
Min: 6.21 Med: 13.73 Max: 162.28
Current: 10.21
During the past 11 years, Spotify Technology's highest PB Ratio was 162.28. The lowest was 6.21. And the median was 13.73.
XSWX:SPOT's PB Ratio is ranked worse than 93.37% of 513
companies
in the Interactive Media industry
Industry Median: 1.64
vs XSWX:SPOT: 10.21
During the past 12 months, Spotify Technology's average Book Value Per Share Growth Rate was 36.70% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 53.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 23.50% per year.
During the past 11 years, the highest 3-Year average Book Value Per Share Growth Rate of Spotify Technology was 124.70% per year. The lowest was -8.00% per year. And the median was 31.60% per year.
Back to Basics: PB Ratio
Spotify Technology (XSWX:SPOT) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Spotify Technology PB Ratio Related Terms
Spotify Technology PB Ratio Historical Data
* Premium members only.
The historical data trend for Spotify Technology's PB Ratio 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: PB Ratio Comparison
For the Internet Content & Information subindustry, Spotify Technology's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Spotify Technology's PB Ratio distribution charts can be found below:
* The bar in red indicates where Spotify Technology's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Spotify Technology (XSWX:SPOT) has a PB Ratio of 10.51 as of Jun. 28, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Spotify Technology and its competitors. This is 23% below median its historical median of 13.73. Over the past decade, Spotify Technology's PB Ratio has ranged from 6.21 to 162.28. According to the industry distribution chart, Spotify Technology ranks #479 out of 513 companies in the Interactive Media industry, placing it in the top 93.4%.
Is Spotify Technology's PB Ratio too high?
Spotify Technology's current PB Ratio of 10.51 is 23% below median its 10-year median of 13.73. Over the past 10 years, this metric has ranged from a low of 6.21 to a high of 162.28. The Interactive Media industry median PB Ratio is 1.64. Spotify Technology's value of 10.51 is 540.9% above this industry median. Based on the distribution chart, Spotify Technology ranks #479 out of 513 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 PB Ratio compare to NBIS and BIDU?
According to the Interactive Media industry distribution chart, Spotify Technology ranks #479 out of 513 companies for PB Ratio. This places Spotify Technology in the lower half of its industry. The industry median PB Ratio is 1.64. Spotify Technology's value of 10.51 is 540.9% above this benchmark. Historically, Spotify Technology's own PB Ratio has ranged from 6.21 to 162.28 over the past decade. While the company's 10-year median is 13.73 vs. the industry median of 1.64, 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 PB Ratio for an Interactive Media company?
The median PB Ratio among Interactive Media companies is 1.64, based on 513 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spotify Technology's current PB Ratio of 10.51 is 540.9% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Spotify Technology and its competitors. For the Interactive Media industry, the median PB Ratio is 1.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spotify Technology's current PB Ratio is 10.51, which is 23% below median its own 10-year median of 13.73. 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 PB Ratio of 10.51. The stock's GF Value™ is CHF396.74, compared to a current price of CHF372.50 — trading 6.1% below its estimated fair value. The current PB Ratio is 10.51, which is 23% below median its 10-year median of 13.73 and 540.9% above the Interactive Media industry median of 1.64. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Spotify Technology (XSWX:SPOT), the current PB Ratio is 10.51 as of Jun. 28, 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 CHF372.50 is trading 6.1% below its estimated GF Value™ of CHF396.74.
Key valuation signals for XSWX:SPOT:
PB Ratio: 10.51 (23% below median its 10-year median of 13.73)
GF Value™: CHF396.74 vs. price of CHF372.50 (6.1% below fair value)
Industry Position: 540.9% above the Interactive Media median (#479 of 513)
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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