Duarte, Miguel MarecosSilva, Joana Bagulho2026-03-162026-03-162025-01-142024-12-17http://hdl.handle.net/10362/201430This individual report constitutes one of two parts of an equity research on Spotify Technology S.A, the global leader in music streaming services. It provides an in-depth analysis of Spotify, focusing on the evaluation of its financial health, competitive positioning and growth prospects. Through methodologies like the Discounted Cash Flow, the Adjusted Present Value valuation, the Flow to Equity and the relative valuation, the report derives a projected share price for 2025, culminating in an informed investment recommendation. The reliability and robustness of the valuation is further explored by conducting a sensitivity analysis and a Monte Carlo simulationengSpotifyStreamingEquity researchmaster thesis204132223