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STOCK COMPARISON

Spotify Technology vs T-Mobile US: Fair Value & Quality

Both stocks run through our valuation models. Here is how Spotify Technology (SPOT) and T-Mobile US (TMUS) compare, as of Oct 28, 2026.

As of Oct 28, 2026, Fair Value Calculator sees T-Mobile US as the more attractively valued of the two: Spotify Technology trades at $555 versus a fair value of $611 (+10.1%), while T-Mobile US trades at $147 versus $273 (+85.8%).
Spotify Technology
SPOT · USD · Communication Services
+10.1%
upside to fair value
undervalued
Price$555
Fair Value$611
Quality70/100
T-Mobile US
TMUS · USD · Communication Services
+85.8%
upside to fair value
undervalued
Price$147
Fair Value$273
Quality62/100
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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

Spotify TechnologyT-Mobile US
Valuation
31.9×P/E (TTM)15.3×
32.6×Forward P/E (FY2027)10.5×
n/aMedian P/E at FY-end (10 FY, ex one-offs where documented)27.6×
5.76×P/S (TTM)1.72×
12.52×P/B2.68×
36.9×EV/EBITDA6.8×
1.44×PEG0.59×
+10.1%Fair value upside+85.8%
n/aDividend yield2.8%
n/aDividend per share$4.08
Profitability
13.7%Operating margin25.2%
n/aEBIT margin trend (5Y)2.19×
44.5%Return on equity18.0%
14.7%Return on assets5.0%
Growth
13.9%Revenue growth (YoY)7.9%
13.6%Avg. growth/yr (3Y)3.5%
16.9%Avg. growth/yr (5Y)5.2%
n/aValue creation/yr+29.2%
Balance & size
70.9×Interest coverage (EBIT/interest)5.3×
n/aDebt / equity1.37×
$116BMarket cap$159B
healthyGrowth qualityhealthy
T-Mobile US, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 9 of the years ex one-offs: 27.6.
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.

T-Mobile US leads: 4 to 7 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.

Spotify Technology T-Mobile US
ProfitabilityHow much profit the company makes from its sales and capital
77
45
Quality GrowthAre margins and returns getting better?
62
36
CashflowDo the profits arrive as real cash?
73
83
Financial strengthDebt, balance sheet and risk of trouble
95
24
InvestmentDoes it invest with discipline instead of growing at any price?
33
81
Low VolatilityHow calm the share price moves, does not count
23
78
MomentumPrice trend of the last 3 to 12 months, does not count
45
17
Near the 52-week highDistance to the 52-week high, does not count
37
0
New sharesBuys back shares or issues new ones?
74
100

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 familySpotify TechnologyPrice $555T-Mobile USPrice $147
DCF Models−40.5%below the price$330+148.0%above the price$364
Earnings-Based−59.3%below the price$226+30.2%above the price$191
Dividend Discountn/a−46.1%below the price$79.16
Multiples−66.3%below the price$187+4.5%close to the price$153
Asset-Based−96.3%below the price$20.61−82.3%below the price$26.03
Growth DCF−40.6%below the price$330+221.5%above the price$472
Economic Profit−77.5%below the price$125−2.3%close to the price$143
Growth Earnings−42.1%below the price$322+85.8%above the price$273
Matching families7 of 8
Minimum−96.3%below the price$20.61−82.3%below the price$26.03
Maximum−40.5%below the price$330+221.5%above the price$472
Median−59.3%below the price$226+30.2%above the price$191
Geometric mean−69.7%below the price$168+19.5%above the price$176
Ahead family by family0 of 77 of 7

Minimum, maximum, median and geometric mean only use the families both stocks have (matching families: 7 of 8), so a family without a value on one side does not distort the comparison. Ahead in a family is the stock whose fair value there sits higher relative to its price. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Family by family: T-Mobile US is ahead in 7 of 7 shared families, Spotify Technology in none.

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

T-Mobile US: 8 of 26 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.

Spotify Technology
Price $555
Fair Value $611
Bear $373Bull $836
T-Mobile US
Price $147
Fair Value $273
Bear $166Bull $355

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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.

Spotify Technology · Communication Services

Quality score70 · Top 25%
Fair value upside+10.1% · above median

T-Mobile US · Communication Services

Quality score62 · above median
Fair value upside+85.8% · Top 25%

Bottom line

As of Oct 28, 2026, Fair Value Calculator sees T-Mobile US as the more attractively valued of the two: Spotify Technology trades at $555 versus a fair value of $611 (+10.1%), while T-Mobile US trades at $147 versus $273 (+85.8%).

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

Open T-Mobile US live analysis →
Spotify Technology · T-Mobile US

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