Is NBIS or SPOT cheaper?

On trailing earnings, SPOT is cheaper: NBIS trades at a 72.07 P/E and SPOT at 38.70.

Which has grown faster, NBIS or SPOT?

Over the past five years, SPOT grew revenue faster — NBIS at a -29.05% CAGR versus SPOT at 16.40%.

Is NBIS or SPOT more profitable?

NBIS runs the higher net margin — NBIS at 95.27% versus SPOT at 15.43%.

Nebius Group N.V. (NBIS) vs Spotify Technology S.A. (SPOT)

SPOT leads on 7 of 10 compared metrics.

A side-by-side comparison of Nebius Group N.V. and Spotify Technology S.A. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of July 10, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

NBIS

Nebius Group N.V.

$53.61B

$223.37Communication Services

SPOT

Spotify Technology S.A.

$98.88B

$480.37Communication Services

Total return — NBIS vs SPOT

growth of $100 · last 2y

NBIS +981.0%SPOT +27.2%NBIS compounded faster

Log scale — wide-divergence pair

NBIS SPOT

NBIS vs SPOT: by the numbers

•SPOT is the larger company ($98.88B vs $53.61B market cap).
•SPOT trades at the lower earnings multiple (38.70 vs 72.07 P/E).
•NBIS converts more revenue to profit (95.27% vs 15.43% net margin).
•SPOT grew revenue faster over the past five years (16.40% vs -29.05% CAGR).

Which is better, NBIS or SPOT?

Metric tally: NBIS 3 · SPOT 7

It depends on what you're optimizing for:

ValueSPOT(lower P/E)

GrowthSPOT(faster 5Y revenue CAGR)

QualitySPOT(higher ROIC)

Metrics side by side

Valuation

Metric	NBIS	SPOT
P/E ratio	72.07	38.70●
Forward P/E	—	38.39
P/S ratio	76.09	4.96●
P/B ratio	9.23●	10.98
PEG ratio	—	0.51
EV / EBITDA	—	32.83
FCF yield	—	3.66%

Profitability

Metric	NBIS	SPOT
Gross margin	68.63%●	32.31%
Operating margin	-112.53%	13.70%●
Net margin	95.27%●	15.43%
ROE	11.55%	34.17%●
ROIC	-4.75%	21.05%●

Growth (annualized)

Metric	NBIS	SPOT
Revenue CAGR (5Y)	-29.05%	16.40%●
EPS CAGR (5Y)	-35.43%	—
FCF CAGR (5Y)	16.92%	66.97%●
Total return CAGR (5Y)	—	13.08%

Frequently asked

Which is better, NBIS or SPOT?: It depends on your goal. value: SPOT (lower P/E); growth: SPOT (faster 5Y revenue CAGR); quality: SPOT (higher ROIC). Across all compared metrics, SPOT leads 7 to 3.
Is NBIS or SPOT cheaper?: On trailing earnings, SPOT is cheaper: NBIS trades at a 72.07 P/E and SPOT at 38.70.
Which has grown faster, NBIS or SPOT?: Over the past five years, SPOT grew revenue faster — NBIS at a -29.05% CAGR versus SPOT at 16.40%.
Is NBIS or SPOT more profitable?: NBIS runs the higher net margin — NBIS at 95.27% versus SPOT at 15.43%.

Go deeper

Full NBIS analysis Full SPOT analysis Interactive comparison tool

Dig into the metrics

Nebius P/E ratio Spotify Technology P/E ratio Nebius dividend yield Spotify Technology dividend yield Nebius ROE Spotify Technology ROE Nebius operating margin Spotify Technology operating margin Nebius revenue growth Spotify Technology revenue growth Nebius free cash flow Spotify Technology free cash flow

Nebius & Spotify Technology appear in these rankings

Fastest Revenue Growth Stocks Highest ROE Stocks Highest ROIC Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified July 10, 2026.