Spotify Technology S.A. SPOT NYSE

Spotify Technology S.A. (SPOT) generated $856M in operating cash flow for quarter ending 2025-12-31. After capital expenditures of $22M, free cash flow was $834M.

Free cash flow margin was 18.4% of revenue. Cash conversion ratio was 0.73x, suggesting some earnings are non-cash.

The company returned $381M in share buybacks to shareholders during the quarter.

Criteria supported by this page:

• HEALTH (100/100, Pass) — demonstrate the company can comfortably service its debt
• MOAT (76/100, Pass) — $834M (18.4% margin) supports a durable competitive advantage
• INCOME (55/100) — Cash conversion ratio was 0.73x suggests some earnings are non-cash items

Overall SharesGrow Score: 73/100 with 5/7 criteria passed.