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We encountered a knife thesis Spotify technology SA (spot) instead of crocker capital research. In this article, we will summarize the bulls dissertation on the spot. Spotify Technology SA (SPOT) ‘s shares sold for $ 549.17 from April 14th. According to the Yahoo finance, the spot behind and forth was 87.92 and 51.55, respectively P / E.
Copyright: Dennizn / 123rf Stock Figure
Over the past year, Spotify, but profitable from high magnification, but profitable from profit, made it a significant transformation, making it a significant transformation. The company with more than 675 million active users and 263 million awards, 2024 billion euros (77 billion euros, 77 billion euros, 77 billion euros, 77 billion euros, 77 billion euros, 77 billion euros, 77 billion euros, 77 billion euros, 77 billion euros, 77 billion euros, 60 billion net income, culmination of strategic turns, community regulation and improvement of congregation and improvement of monetization It reflects the process. In 2024, in 2022, the company’s consistent user growth and increased the rising part of the base in 2024) highlighting global stretches in 2024. 15.67 billion euros in 2024, 15.67 billion euros, each The user has increased price growth in large markets and increased high-income in the highest income.
Equally significantly improving profit measurements. In mid 2024, the total edges of the long period in the middle of the 20s, in the middle of 2024, reached 30% in 2024. This was controlled by a large number of factors: more hard, better advertising monetization and price energy in the podcasting section. After the detainees have been investing heavy in harmless podcast studios and popular deals, reduce the performance of the performance, reduce the title and change the title to a more careful content strategy. Previously, in the nearest breakeven, in 2024, a 12% general margin, entering dynamic advertising and self-serving advertising tools made progress. Meanwhile, operating effectiveness – withdrawal of more than 1,500 employees and marketing costs decreased. This in 2022, in 2022, 1,365 billion euros in 2022, 1,365 billion euros in 2024, Spotify’s operating margin pushes 8.7% to the positive area.
Perhaps the most surprising change was a slip from a neutral job for free money flow. The free cash flow was 21 million euros in 2022 in 2022, but in 2023 increased by 678 million euros and an annual growth of about 4,285 billion euros in 2024. Given the company’s low capital intensity, this level gives the increase in cash generation levels, strengthen the balance sheet or returns spotify flexibility to return to shareholders. Long-term ceiling for general edges, 70% of music revenues that can be obtained due to structural reality are paid to the rights holders, Spotify can still be scale in a profitable way. The Bullish case is clear: Spotify proved that both growth-oriented and profitable. A new high margin, such as the opposite point, audiobooks or creative tools, may be limited to future margin gains for vertical images. Nevertheless, in connection with the ability to make money on a scale for years, Spotify’s 2024 performance confirmed its work model and rebuilt the expectations. The company not only survived in the competitive space, but develops and with the option to unlock the next value.
