WallStSmart

Nebius Group N.V. (NBIS)vsSpotify Technology SA (SPOT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Spotify Technology SA generates 1237% more annual revenue ($18.11B vs $1.36B). SPOT leads profitability with a 18.4% profit margin vs 3.1%. NBIS appears more attractively valued with a PEG of 0.53. SPOT earns a higher WallStSmart Score of 64/100 (C+).

NBIS

Hold

43

out of 100

Grade: D

Growth: 8.0Profit: 3.0Value: 7.7Quality: 6.5
Piotroski: 5/9Altman Z: 1.10

SPOT

Buy

64

out of 100

Grade: C+

Growth: 8.0Profit: 8.0Value: 4.0Quality: 8.0
Piotroski: 4/9Altman Z: 2.66
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NBISUndervalued (+55.3%)

Margin of Safety

+55.3%

Fair Value

$468.72

Current Price

$217.99

$250.73 discount

UndervaluedFair: $468.72Overvalued
SPOTSignificantly Overvalued (-58.4%)

Margin of Safety

-58.4%

Fair Value

$307.58

Current Price

$547.43

$239.85 premium

UndervaluedFair: $307.58Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NBIS3 strengths · Avg: 9.0/10
Revenue GrowthGrowth
454.0%10/10

Revenue surging 454.0% year-over-year

Market CapQuality
$57.01B9/10

Large-cap with strong market position

PEG RatioValuation
0.538/10

Growing faster than its price suggests

SPOT4 strengths · Avg: 9.8/10
Return on EquityProfitability
35.6%10/10

Every $100 of equity generates 36 in profit

EPS GrowthGrowth
222.4%10/10

Earnings expanding 222.4% YoY

Debt/EquityHealth
0.0610/10

Conservative balance sheet, low leverage

Market CapQuality
$111.52B9/10

Large-cap with strong market position

Areas to Watch

NBIS4 concerns · Avg: 3.0/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Return on EquityProfitability
0.6%3/10

ROE of 0.6% — below average capital efficiency

Profit MarginProfitability
3.1%3/10

3.1% margin — thin

Free Cash FlowQuality
$-3.41B2/10

Negative free cash flow — burning cash

SPOT3 concerns · Avg: 4.0/10
PEG RatioValuation
1.594/10

Expensive relative to growth rate

P/E RatioValuation
29.4x4/10

Moderate valuation

Price/BookValuation
11.5x4/10

Trading at 11.5x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : NBIS

The strongest argument for NBIS centers on Revenue Growth, Market Cap, PEG Ratio. Revenue growth of 454.0% demonstrates continued momentum. PEG of 0.53 suggests the stock is reasonably priced for its growth.

Bull Case : SPOT

The strongest argument for SPOT centers on Return on Equity, EPS Growth, Debt/Equity. Profitability is solid with margins at 18.4% and operating margin at 13.7%. Revenue growth of 13.9% demonstrates continued momentum.

Bear Case : NBIS

The primary concerns for NBIS are EPS Growth, Return on Equity, Profit Margin. Thin 3.1% margins leave little buffer for downturns.

Bear Case : SPOT

The primary concerns for SPOT are PEG Ratio, P/E Ratio, Price/Book.

Key Dynamics to Monitor

NBIS profiles as a hypergrowth stock while SPOT is a mature play — different risk/reward profiles.

SPOT carries more volatility with a beta of 1.59 — expect wider price swings.

NBIS is growing revenue faster at 454.0% — sustainability is the question.

SPOT generates stronger free cash flow (910M), providing more financial flexibility.

Bottom Line

SPOT scores higher overall (64/100 vs 43/100), backed by strong 18.4% margins and 13.9% revenue growth. NBIS offers better value entry with a 55.3% margin of safety. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Nebius Group N.V.

COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION · USA

Nebius Group N.V. (Ticker: NBIS) is an innovative technology firm that specializes in advanced digital solutions to enhance client engagement and operational efficiency across diverse sectors. By integrating cutting-edge cloud computing, artificial intelligence, and data analytics, Nebius enables businesses to adeptly manage the complexities of today's digital landscape. The company boasts a strong portfolio of intellectual property and strategic partnerships, positioning it favorably to capitalize on significant growth opportunities in the technology-driven marketplace. As such, Nebius presents a compelling investment opportunity for institutional investors seeking to gain exposure to pioneering solutions in the tech sector.

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Spotify Technology SA

COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION · USA

Spotify Technology SA, provides audio streaming services worldwide. The company is headquartered in Luxembourg, Luxembourg.

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