Spotify Technology S.A.

Factors to consider:

• Total employees count: 3651 as of 2018
• Price in estimated range

Stock Forecast*

* forecast is subjective and experimental, should not be used for any investment decisions

Long term estimates were made for the period from 2025-12-31 to 2027-12-31

• 2025-12-31 to 2026-12-31 estimated range: [426.66$, 714.75$]
• 2026-12-31 to 2027-12-31 estimated range: [401.28$, 680.65$]

Financial Metrics affecting the SPOT estimates:

• Negative: with PPE of 59.7 at the end of fiscal year the price was high
• Positive: 7.67 < Operating profit margin, % of 12.79
• Positive: 0.01 < Operating cash flow per share per price, % of 2.81
• Positive: 42.68 < Shareholder equity ratio, % of 55.47 <= 64.29
• Positive: -0.01 < Industry operating cash flow per share per price (median), % of 3.18
• Negative: Industry earnings per price (median), % of 0 <= 0
• Positive: -4.43 < Investing cash flow per share per price, % of -1.72
• Negative: Industry operating profit margin (median), % of -1.31 <= 3.01
• Positive: Return on assets ratio (scaled to [-100,100]) of 12.40 > 6.11