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STOCK COMPARISON

Alphabet Inc Class C vs Spotify Technology: Fair Value & Quality

Both stocks run through our valuation models. Here is how Alphabet Inc Class C (GOOG) and Spotify Technology (SPOT) compare, as of Oct 21, 2026.

As of Oct 21, 2026, Fair Value Calculator sees Spotify Technology as the more attractively valued of the two: Alphabet Inc Class C trades at $336 versus a fair value of $336 (−0.1%), while Spotify Technology trades at $526 versus $576 (+9.6%).
Alphabet Inc Class C
GOOG · USD · Communication Services
−0.1%
upside to fair value
fairly valued
Price$336
Fair Value$336
Quality68/100
Spotify Technology
SPOT · USD · Communication Services
+9.6%
upside to fair value
fairly valued
Price$526
Fair Value$576
Quality70/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Alphabet Inc Class CSpotify Technology
Valuation
16.9×P/E (TTM)28.8×
22.6×Forward P/E (FY2027)30.4×
9.29×P/S (TTM)5.40×
9.97×P/B11.75×
24.0×EV/EBITDA34.5×
1.20×PEG1.44×
−0.1%Fair value upside+9.6%
0.3%Dividend yieldn/a
$0.85Dividend per sharen/a
Profitability
34.0%Operating margin13.7%
1.42×EBIT margin trend (5Y)n/a
48.7%Return on equity44.5%
22.2%Return on assets14.7%
Growth
24.2%Revenue growth (YoY)13.9%
12.5%Avg. growth/yr (3Y)13.6%
17.2%Avg. growth/yr (5Y)16.9%
+29.0%Value creation/yrn/a
Balance & size
903.3×Interest coverage (EBIT/interest)70.9×
0.11×Debt / equityn/a
$4.1TMarket cap$110B
expensiveGrowth qualityhealthy
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported. Alphabet Inc Class C: FY 2026 earnings estimate probably distorted by a special item known to analysts (20.62 is not between the FY 2025 actual of 10.81 and the FY 2027 estimate of 14.9).

Alphabet Inc Class C leads: 8 to 4 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Alphabet Inc Class C Spotify Technology
ProfitabilityHow much profit the company makes from its sales and capital
84
77
Quality GrowthAre margins and returns getting better?
56
62
CashflowDo the profits arrive as real cash?
61
73
Financial strengthDebt, balance sheet and risk of trouble
82
95
InvestmentDoes it invest with discipline instead of growing at any price?
8
33
Low VolatilityHow calm the share price moves, does not count
55
25
MomentumPrice trend of the last 3 to 12 months, does not count
54
37
Near the 52-week highDistance to the 52-week high, does not count
64
25
New sharesBuys back shares or issues new ones?
84
74

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyAlphabet Inc Class CPrice $336Spotify TechnologyPrice $526
DCF Models−37.6%below the price$210−36.2%below the price$336
Earnings-Based−23.3%below the price$258−56.6%below the price$228
Dividend Discount−95.9%below the price$13.95n/a
Multiples−61.5%below the price$129−64.1%below the price$189
Asset-Based−99.4%below the price$2.11−96.0%below the price$20.81
Growth DCF−50.8%below the price$166−36.3%below the price$335
Economic Profit−60.7%below the price$132−75.9%below the price$127
Growth Earnings+1.4%close to the price$341−38.3%below the price$325
Minimum−99.4%below the price$2.11−96.0%below the price$20.81
Maximum+1.4%close to the price$341−36.2%below the price$336
Median−55.7%below the price$149−56.6%below the price$228
Geometric mean−76.5%below the price$79.14−67.6%below the price$170

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Alphabet Inc Class C: 22 of 26 models see the stock below the current price.

Spotify Technology: 23 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Alphabet Inc Class C
Price $336
Fair Value $336
Bear $210Bull $643
Spotify Technology
Price $526
Fair Value $576
Bear $351Bull $785

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Alphabet Inc Class C · Communication Services

Quality score68 · Top 25%
Fair value upside−0.1% · below median

Spotify Technology · Communication Services

Quality score70 · Top 25%
Fair value upside+9.6% · above median

Bottom line

As of Oct 21, 2026, Fair Value Calculator sees Spotify Technology as the more attractively valued of the two: Alphabet Inc Class C trades at $336 versus a fair value of $336 (−0.1%), while Spotify Technology trades at $526 versus $576 (+9.6%).

Spotify Technology has the higher quality score (70/100).

Open Spotify Technology live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.