WallStSmart

Spotify Technology SA (SPOT)vsUpwork Inc (UPWK)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Spotify Technology SA generates 2082% more annual revenue ($17.19B vs $787.78M). UPWK leads profitability with a 14.6% profit margin vs 12.9%. UPWK appears more attractively valued with a PEG of 0.98. SPOT earns a higher WallStSmart Score of 62/100 (C+).

SPOT

Buy

62

out of 100

Grade: C+

Growth: 6.0Profit: 8.0Value: 8.7Quality: 7.5
Piotroski: 4/9Altman Z: 2.66

UPWK

Buy

58

out of 100

Grade: C

Growth: 4.0Profit: 6.5Value: 7.3Quality: 6.5
Piotroski: 3/9Altman Z: 2.12
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

SPOTUndervalued (+13.1%)

Margin of Safety

+13.1%

Fair Value

$560.66

Current Price

$473.21

$87.45 discount

UndervaluedFair: $560.66Overvalued
UPWKSignificantly Overvalued (-159.9%)

Margin of Safety

-159.9%

Fair Value

$5.58

Current Price

$11.32

$5.74 premium

UndervaluedFair: $5.58Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

SPOT3 strengths · Avg: 9.3/10
Return on EquityProfitability
31.9%10/10

Every $100 of equity generates 32 in profit

Market CapQuality
$99.82B9/10

Large-cap with strong market position

Debt/EquityHealth
0.289/10

Conservative balance sheet, low leverage

UPWK3 strengths · Avg: 8.0/10
PEG RatioValuation
0.988/10

Growing faster than its price suggests

P/E RatioValuation
13.6x8/10

Attractively priced relative to earnings

Price/BookValuation
2.3x8/10

Reasonable price relative to book value

Areas to Watch

SPOT4 concerns · Avg: 3.5/10
PEG RatioValuation
1.994/10

Expensive relative to growth rate

Price/BookValuation
10.1x4/10

Trading at 10.1x book value

EPS GrowthGrowth
2.1%4/10

2.1% earnings growth

P/E RatioValuation
40.5x2/10

Premium valuation, high expectations priced in

UPWK4 concerns · Avg: 3.0/10
Revenue GrowthGrowth
3.6%4/10

3.6% revenue growth

Market CapQuality
$1.46B3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

EPS GrowthGrowth
-88.9%2/10

Earnings declined 88.9%

Comparative Analysis Report

WallStSmart Research

Bull Case : SPOT

The strongest argument for SPOT centers on Return on Equity, Market Cap, Debt/Equity.

Bull Case : UPWK

The strongest argument for UPWK centers on PEG Ratio, P/E Ratio, Price/Book. PEG of 0.98 suggests the stock is reasonably priced for its growth.

Bear Case : SPOT

The primary concerns for SPOT are PEG Ratio, Price/Book, EPS Growth. A P/E of 40.5x leaves little room for execution misses.

Bear Case : UPWK

The primary concerns for UPWK are Revenue Growth, Market Cap, Piotroski F-Score.

Key Dynamics to Monitor

SPOT carries more volatility with a beta of 1.72 — expect wider price swings.

SPOT is growing revenue faster at 6.8% — sustainability is the question.

SPOT generates stronger free cash flow (834M), providing more financial flexibility.

Monitor INTERNET CONTENT & INFORMATION industry trends, competitive dynamics, and regulatory changes.

Bottom Line

SPOT scores higher overall (62/100 vs 58/100). Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

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

Spotify Technology SA

COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION · USA

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

Upwork Inc

COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION · USA

Upwork Inc. operates an online talent marketplace that enables companies to find and work with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company is headquartered in Santa Clara, California.

Want to dig deeper into these stocks?