WallStSmart

Vivid Seats Inc (SEAT)vsSpotify Technology SA (SPOT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Spotify Technology SA generates 3192% more annual revenue ($17.53B vs $532.54M). SPOT leads profitability with a 15.4% profit margin vs -82.3%. SPOT earns a higher WallStSmart Score of 64/100 (C+).

SEAT

Avoid

35

out of 100

Grade: F

Growth: 2.0Profit: 2.0Value: 6.7Quality: 5.0
Piotroski: 4/9Altman Z: -5.58

SPOT

Buy

64

out of 100

Grade: C+

Growth: 8.0Profit: 8.5Value: 3.3Quality: 8.0
Piotroski: 4/9Altman Z: 2.66
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

SEATUndervalued (+59.8%)

Margin of Safety

+59.8%

Fair Value

$17.46

Current Price

$8.58

$8.88 discount

UndervaluedFair: $17.46Overvalued
SPOTSignificantly Overvalued (-65.0%)

Margin of Safety

-65.0%

Fair Value

$295.16

Current Price

$496.95

$201.79 premium

UndervaluedFair: $295.16Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

SEAT1 strengths · Avg: 10.0/10
Debt/EquityHealth
-0.2110/10

Conservative balance sheet, low leverage

SPOT4 strengths · Avg: 9.8/10
Return on EquityProfitability
33.8%10/10

Every $100 of equity generates 34 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
$99.11B9/10

Large-cap with strong market position

Areas to Watch

SEAT4 concerns · Avg: 2.3/10
Market CapQuality
$99.38M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
-284.3%2/10

ROE of -284.3% — below average capital efficiency

Revenue GrowthGrowth
-23.3%2/10

Revenue declined 23.3%

EPS GrowthGrowth
-41.9%2/10

Earnings declined 41.9%

SPOT3 concerns · Avg: 4.0/10
PEG RatioValuation
1.634/10

Expensive relative to growth rate

P/E RatioValuation
32.5x4/10

Premium valuation, high expectations priced in

Price/BookValuation
10.4x4/10

Trading at 10.4x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : SEAT

The strongest argument for SEAT centers on Debt/Equity.

Bull Case : SPOT

The strongest argument for SPOT centers on Return on Equity, EPS Growth, Debt/Equity. Profitability is solid with margins at 15.4% and operating margin at 15.8%.

Bear Case : SEAT

The primary concerns for SEAT are Market Cap, Return on Equity, Revenue Growth.

Bear Case : SPOT

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

Key Dynamics to Monitor

SEAT profiles as a turnaround stock while SPOT is a mature play — different risk/reward profiles.

SPOT carries more volatility with a beta of 1.55 — expect wider price swings.

SPOT is growing revenue faster at 8.2% — sustainability is the question.

SPOT generates stronger free cash flow (845M), providing more financial flexibility.

Bottom Line

SPOT scores higher overall (64/100 vs 35/100), backed by strong 15.4% margins. SEAT offers better value entry with a 59.8% margin of safety. Both earn "Buy" and "Avoid" ratings respectively — the choice depends on your investment horizon and risk tolerance.

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

Vivid Seats Inc

COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION · USA

Vivid Seats Inc. (SEAT) is a leading online ticket marketplace that facilitates access to a diverse range of live events, including concerts, sports, and theater, establishing itself as a key player in the entertainment industry since its inception in 2001. Headquartered in Chicago, the company leverages advanced technology and data analytics to enhance the user experience and cater to evolving consumer preferences, positioning itself for growth amid the increasing demand for live events. As a publicly traded company, Vivid Seats focuses on creating strategic partnerships and prioritizing customer satisfaction and security, thereby reinforcing its reputation and reliability in the competitive secondary ticket market. With a strong commitment to transparency and innovation, Vivid Seats is well-positioned to capitalize on the expanding opportunities within the live entertainment 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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