Spotify TechnologyMEX:SPOT N -1.82%80 Altman Z-Score is 11.53 as of Jun. 26, 2026, which is 106% above its 10-year median of 5.60. GuruFocus rates MEX:SPOT N with a GF Score™ of 80/100 and a GF Value™ of MXN8,709.51 (Fairly Valued). The stock has 2 warning signs investors should review. Among 550 Interactive Media companies, Spotify Technology ranks better than 87.27% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 11.71 is strong.
Spotify Technology has a Altman Z-Score of 11.53, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Spotify Technology's Altman Z-Score or its related term are showing as below:
MEX:SPOT N'
s Altman Z-Score Range Over the Past 10 Years
Min: -0.13 Med: 5.6 Max: 13.45
Current: 11.71
During the past 11 years, Spotify Technology's highest Altman Z-Score was 13.45. The lowest was -0.13. And the median was 5.60.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
Spotify Technology Altman Z-Score Related Terms
Spotify Technology Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Spotify Technology's Altman Z-Score 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.
MEX:SPOT N vs NBIS, BIDU, RDDT: Altman Z-Score Comparison
For the Internet Content & Information subindustry, Spotify Technology's Altman Z-Score, along with its competitors' market caps and Altman Z-Score 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 Altman Z-Score vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Spotify Technology's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Spotify Technology's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Spotify Technology's Altman Z-Score for today is calculated with this formula:
Z
=
1.2
*
X1
+
1.4
*
X2
+
3.3
*
X3
+
0.6
*
X4
+
1.0
*
X5
=
1.2
*
0.3787
+
1.4
*
-0.0094
+
3.3
*
0.2212
+
0.6
*
14.99
+
1.0
*
1.3632
=
11.53
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Spotify Technology (MEX:SPOT N) has a Altman Z-Score of 11.53 as of Jun. 26, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Spotify Technology and its competitors. This is 106% above median its historical median of 5.60. According to the industry distribution chart, Spotify Technology ranks #70 out of 550 companies in the Interactive Media industry, placing it in the top 12.7%.
Is Spotify Technology's Altman Z-Score too high?
Spotify Technology's current Altman Z-Score of 11.53 is 106% above median its 10-year median of 5.60. The Interactive Media industry median Altman Z-Score is 3.07. Spotify Technology's value of 11.53 is 276.2% above this industry median. Based on the distribution chart, Spotify Technology ranks #70 out of 550 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers. Overall, Spotify Technology has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Spotify Technology's Altman Z-Score compare to NBIS and BIDU?
According to the Interactive Media industry distribution chart, Spotify Technology ranks #70 out of 550 companies for Altman Z-Score. This places Spotify Technology in the top 13% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.07. Spotify Technology's value of 11.53 is 276.2% above this benchmark. While the company's 10-year median is 5.60 vs. the industry median of 3.07, 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 Altman Z-Score for an Interactive Media company?
The median Altman Z-Score among Interactive Media companies is 3.07, based on 550 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spotify Technology's current Altman Z-Score of 11.53 is 276.2% 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 Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on Spotify Technology and its competitors. For the Interactive Media industry, the median Altman Z-Score is 3.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spotify Technology's current Altman Z-Score is 11.53, which is 106% above median its own 10-year median of 5.60. 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 (MEX:SPOT N) is currently considered Fairly Valued. The stock's GF Value™ is MXN8,709.51, compared to a current price of MXN7,843.09 — trading 9.9% below its estimated fair value. The current Altman Z-Score is 11.53, which is 106% above median its 10-year median of 5.60 and 276.2% above the Interactive Media industry median of 3.07. Spotify Technology's overall GF Score™ is 80/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Spotify Technology (MEX:SPOT N), the current Altman Z-Score is 11.53 as of Jun. 26, 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 (MEX:SPOT N) Overvalued in 2026?
Based on GuruFocus' analysis, Spotify Technology stock appears to be undervalued.
The current stock price of MXN7,843.09 is trading 9.9% below its estimated GF Value™ of MXN8,709.51.
GuruFocus considers Spotify Technology to be Fairly Valued.
Key valuation signals for MEX:SPOT N:
Altman Z-Score: 11.53 (106% above median its 10-year median of 5.60)
GF Value™: MXN8,709.51 vs. price of MXN7,843.09 (9.9% below fair value)
Industry Position: 276.2% above the Interactive Media median (#70 of 550)
No single metric tells the full story. See the MEX:SPOT N 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.
80GF Score
Get the complete analysis for MEX:SPOT N
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:SPOT N has been successfully added to your 
