HUBS vs. SPOT

Last updated Apr 2, 2026

Compare and contrast key facts about HubSpot, Inc. (HUBS) and Spotify Technology S.A. (SPOT).

Performance

HUBS vs. SPOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HubSpot, Inc. (HUBS) and Spotify Technology S.A. (SPOT). The values are adjusted to include any dividend payments, if applicable.

HUBS vs. SPOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HUBS HubSpot, Inc.	-39.50%	-42.41%	20.02%	100.79%	-56.14%	66.27%	150.12%	26.06%	15.24%
SPOT Spotify Technology S.A.	-19.06%	29.80%	138.08%	138.01%	-66.27%	-25.62%	110.40%	31.76%	-23.83%

Fundamentals

Market Cap HUBS : $12.76B SPOT : $99.87B
EPS HUBS : $0.87 SPOT : $10.59
PE Ratio HUBS : 278.36 SPOT : 44.37
PEG Ratio HUBS : 0.32 SPOT : 0.54
PS Ratio HUBS : 4.08 SPOT : 5.70
PB Ratio HUBS : 6.17 SPOT : 12.00
Total Revenue (TTM) HUBS : $3.13B SPOT : $17.14B
Gross Profit (TTM) HUBS : $2.62B SPOT : $5.48B
EBITDA (TTM) HUBS : $121.45M SPOT : $2.37B

Returns By Period

In the year-to-date period, HUBS achieves a -39.50% return, which is significantly lower than SPOT's -19.06% return.

HUBS

• 1D: -0.54%
• 1M: -7.89%
• YTD: -39.50%
• 6M: -44.85%
• 1Y: -58.28%
• 3Y*: -17.27%
• 5Y*: -12.95%
• 10Y*: 18.86%

SPOT

• 1D: -3.07%
• 1M: -7.35%
• YTD: -19.06%
• 6M: -32.92%
• 1Y: -14.81%
• 3Y*: 52.08%
• 5Y*: 11.47%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

HUBS vs. SPOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HUBS

HUBS Risk / Return Rank: 6
HUBS Sharpe Ratio Rank: 3
HUBS Sortino Ratio Rank: 4
HUBS Omega Ratio Rank: 5
HUBS Calmar Ratio Rank: 10
HUBS Martin Ratio Rank: 8

SPOT

SPOT Risk / Return Rank: 27
SPOT Sharpe Ratio Rank: 26
SPOT Sortino Ratio Rank: 25
SPOT Omega Ratio Rank: 25
SPOT Calmar Ratio Rank: 31
SPOT Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HUBS vs. SPOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HubSpot, Inc. (HUBS) and Spotify Technology S.A. (SPOT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HUBS	SPOT	Difference
Sharpe ratio Return per unit of total volatility	-1.05	-0.33	-0.72
Sortino ratio Return per unit of downside risk	-1.63	-0.19	-1.44
Omega ratio Gain probability vs. loss probability	0.79	0.98	-0.18
Calmar ratio Return relative to maximum drawdown	-0.84	-0.31	-0.52
Martin ratio Return relative to average drawdown	-1.52	-0.69	-0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HUBS vs. SPOT - Sharpe Ratio Comparison

The current HUBS Sharpe Ratio is -1.05, which is lower than the SPOT Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of HUBS and SPOT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HUBS	SPOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.05	-0.33	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	0.24	-0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.33	+0.07

Correlation

The correlation between HUBS and SPOT is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HUBS vs. SPOT - Dividend Comparison

Neither HUBS nor SPOT has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

HUBS vs. SPOT - Drawdown Comparison

The maximum HUBS drawdown since its inception was -75.43%, smaller than the maximum SPOT drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for HUBS and SPOT.

Drawdown Indicators

	HUBS	SPOT	Difference
Max Drawdown Largest peak-to-trough decline	-75.43%	-80.51%	+5.08%
Max Drawdown (1Y) Largest decline over 1 year	-68.86%	-46.80%	-22.06%
Max Drawdown (5Y) Largest decline over 5 years	-75.43%	-76.39%	+0.96%
Max Drawdown (10Y) Largest decline over 10 years	-75.43%	—	—
Current Drawdown Current decline from peak	-71.51%	-39.42%	-32.09%
Average Drawdown Average peak-to-trough decline	-22.30%	-30.64%	+8.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.88%	21.15%	+16.73%

Volatility

HUBS vs. SPOT - Volatility Comparison

HubSpot, Inc. (HUBS) has a higher volatility of 16.16% compared to Spotify Technology S.A. (SPOT) at 12.33%. This indicates that HUBS's price experiences larger fluctuations and is considered to be riskier than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HUBS	SPOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.16%	12.33%	+3.83%
Volatility (6M) Calculated over the trailing 6-month period	43.98%	31.14%	+12.84%
Volatility (1Y) Calculated over the trailing 1-year period	55.66%	45.03%	+10.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.71%	47.42%	+5.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.73%	47.06%	+2.67%

Financials

HUBS vs. SPOT - Profitability Comparison

The chart below illustrates the profitability comparison between HubSpot, Inc. and Spotify Technology S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HUBS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, HubSpot, Inc. reported a gross profit of 709.05M and revenue of 846.75M. Therefore, the gross margin over that period was 83.7%.

SPOT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Spotify Technology S.A. reported a gross profit of 1.48B and revenue of 4.49B. Therefore, the gross margin over that period was 33.1%.

HUBS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, HubSpot, Inc. reported an operating income of 48.24M and revenue of 846.75M, resulting in an operating margin of 5.7%.

SPOT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Spotify Technology S.A. reported an operating income of 694.43M and revenue of 4.49B, resulting in an operating margin of 15.5%.

HUBS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, HubSpot, Inc. reported a net income of 54.43M and revenue of 846.75M, resulting in a net margin of 6.4%.

SPOT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Spotify Technology S.A. reported a net income of 1.16B and revenue of 4.49B, resulting in a net margin of 25.9%.