Both stocks run through our valuation models. Here is how At&t (T) and Spotify Technology (SPOT) compare, as of Aug 16, 2026.
As of Aug 16, 2026, Fair Value Calculator sees At&t as the more attractively valued of the two: At&t trades at $24.89 versus a fair value of $43.97 (+77%), while Spotify Technology trades at $513 versus $211 (-59%).
At&t
T · USD · Communication Services
+77%
upside to fair value
undervalued
Price$24.89
Fair Value$43.97
Quality61/100
Spotify Technology
SPOT · USD · Communication Services
-59%
upside to fair value
overvalued
Price$513
Fair Value$211
Quality69/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
At&tSpotify Technology
Valuation
7.1×P/E (TTM)33.8×
1.16×P/S (TTM)5.69×
1.32×P/B11.99×
5.7×EV/EBITDA38.7×
1.47×PEG1.66×
5.3%Dividend yield—
$1.11Dividend per share—
Profitability
17%Net margin15%
23%Operating margin16%
18%Return on equity38%
4%Return on assets12%
Growth
3%Revenue growth (YoY)8%
1.3%Avg. growth/yr (3Y)13.6%
-6.1%Avg. growth/yr (5Y)16.9%
Balance & size
1.15×Debt / equity—
$146BMarket cap$100B
weakGrowth qualityhealthy
At&t leads: 7 to 5 metric wins.
Dash = 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.
At&tof which business quality 58 · market factors 50Spotify Technologyof which business quality 71 · market factors 32
ProfitabilityMargins and returns on capital today
49
77
Quality GrowthAre margins and returns improving?
69
62
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
64
33
Low VolatilityCalm price path (market factor)
89
28
MomentumPrice trend over the last 3–12 months (market factor)
29
43
52W MomentumDistance to the 52-week high (market factor)
41
18
Net IssuanceBuybacks instead of dilution
92
61
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
At&t
DCF Models$37.01
Earnings-Based$17.18
Dividend Discount$18.16
Multiples$53.55
Asset-Based$10.66
Growth DCF$29.37
Economic Profit$22.12
Growth Earnings$56.86
6 of 25 models see the stock below the current price.
Spotify Technology
DCF Models$347
Earnings-Based$203
Dividend Discount$3.62
Multiples$174
Asset-Based$27.13
Growth DCF$352
Economic Profit$142
Growth Earnings$289
26 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
At&t
Bear $22.74Fair Value $43.97Bull $66.94
$24.89 = current price (white tick)
Spotify Technology
Bear $158Fair Value $211Bull $433
$513 = current price (white tick)
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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.
At&t · Communication Services
Quality score61 · above median
Fair value upside+77% · Top 25%
Spotify Technology · Communication Services
Quality score69 · Top 25%
Fair value upside-59% · bottom 25%
Bottom line
As of Aug 16, 2026, Fair Value Calculator sees At&t as the more attractively valued of the two: At&t trades at $24.89 versus a fair value of $43.97 (+77%), while Spotify Technology trades at $513 versus $211 (-59%).
Spotify Technology has the higher quality score (69/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
