Netflix, Inc. (NFLX)

NASDAQ: NFLX · USD

$61.9

-0.61 (-1.0%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-08

Our latest published analysis: NFLX rated Reduce

Netflix, Inc.'s published Reduce conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$63.9 / share

Potential value

$79.0 / share

Upside to FV

-18.4%

from $61.9

Moat

6/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$325.8B
Revenue (ttm)	49.7B
Net income (ttm)	14.8B
EPS (ttm)	$3.45
Shares out	4.1B
P/E (trailing)	17.9x
P/E (forward)	21.6x
Volume	35,518,082
Beta	1.61

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 49.7B
Net income (ttm): 14.8B
EPS (ttm): $3.45
P/E (trailing): 17.9x
P/E (forward): 21.6x
Market cap: $325.8B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$29.70B	$31.62B	$33.72B	$39.00B	$45.18B	+11.1%
Gross profit	$12.37B	$12.45B	$14.01B	$17.96B	$21.91B	+15.4%
Operating income	$6.19B	$5.63B	$6.95B	$10.42B	$13.33B	+21.1%
Net income	$5.12B	$4.49B	$5.41B	$8.71B	$10.98B	+21.0%
EPS (diluted)	$1.12	$1.00	$1.20	$1.98	$2.53	+22.5%
EBITDA	$19.04B	$20.33B	$21.51B	$24.88B	$30.25B	+12.3%
R&D	$2.27B	$2.71B	$2.68B	$2.93B	$3.39B	+10.5%
SG&A	$1.35B	$1.57B	$1.72B	$1.70B	$1.89B	+8.7%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
APP	AppLovin Corporation	87B	20.0x	12.7x	132.7%	+25.8%	-59.6%	ホールド
BIDU	Baidu, Inc.	27.1B	—	1.4x	3.4%	+1.5%	-38.7%	買い
CHTR	Charter Communications, Inc.	17.2B	2.7x	0.3x	8.5%	+1.7%	-57.3%	強い買い

Base and Bull scenarios

Base55%

Price target

$63.88

-18.4% from spot

The base path holds while revenue fades gradually and margins remain resilient. An early move to mature growth or a sustained margin breach would disconfirm it.

Revenue decelerates gradually after FY2027 rather than reaching mature growth early.
GAAP operating margin stays near the accepted path and avoids the persistent failure test.
Positive free cash flow supports per-share progress after content and debt needs.

Bull20%

Price target

$79.00

+1.0% from spot

The bull path requires audience scale to improve partner economics and added formats to produce profitable engagement. Stable margins and positive cash would confirm persistence.

Exclusive formats and partner distribution deepen engagement across more viewing occasions.
Revenue remains above the mature range for longer as audience scale improves partner-content value.
Positive free cash flow supports content and share-count reduction after debt needs are met.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($63.88). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
8.1%	$70.9	$72.9	$75.2	$78.0	$81.5
9.1%	$65.7	$67.0	$68.5	$70.4	$72.6
10.1%	$61.5	$62.5	$63.9	$64.8	$66.3
11.1%	$58.2	$58.9	$59.7	$60.6	$61.7
12.1%	$55.5	$56.0	$56.6	$57.3	$58.0

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E21.6

P25 n/aP50 n/aP75 n/a

Trailing P/E24.6

P25 n/aP50 n/aP75 n/a

ROE53.5

P25 n/aP50 n/aP75 n/a

ROIC34.1

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All NFLX indicators

Market & fundamental data

Available fields

282

Groups with data

Currency

USD

Showing 282 of 282 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001065280
Company name	Netflix, Inc.
Country	United States
Country code	US
CUSIP number	64110L106
Earnings date	2026-10-20
Earnings time	amc
Employees	16,000
Employees change	2,000
Employees growth	14.29%
Enterprise value	$263.6B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1997
In index	SP500, NASDAQ100
Industry	Entertainment
IPO date	2002-05-23
Is primary listing	Yes
Is SPAC	No
ISIN number	US64110L1061
Last 10-K release date	2026-01-23
Last earnings date	2026-10-20
Last refreshed	2026-10-28
Last stock split date	2025-11-17
Last stock split type	Forward
Market cap	$254.2B
Market cap category	Mega-Cap
Next earnings date	2027-01-19
Options	Yes
Price	$61.92
Price currency	USD
Sector	Communication Services
SIC code	7841
Stock price date	2026-10-28
Symbol	NFLX
Tags	faang
U.S. state	California
Website	https://www.netflix.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	17.89x
Average P/E ratio (10Y)	79.99x
Average P/E ratio (3Y)	38.31x
Average P/E ratio (5Y)	36.51x
Earnings yield	5.58%
EV/Earnings	17.81x
EV/EBIT	16.89x
EV/EBITDA	16.48x
EV/FCF	23.12x
EV/Sales	5.29x
FCF / EV yield	4.33%
FCF yield	4.48%
Forward EV/Sales	4.76x
Forward P/E	17.24x
Forward P/S	4.59x
Graham number	23.54515
Graham upside	-61.88%
Industry forward P/E	20.2x
Industry P/E	29.99x
Lynch fair value	$82.68
Lynch upside	33.85%
P/(FCF - SBC) ratio	23.41x
P/(OCF - SBC) ratio	21.55x
P/B ratio	8.77x
P/E ratio	17.92x
P/FCF ratio	22.3x
P/OCF ratio	20.61x
P/S ratio	5.1x
PEG ratio	0.83x
Price / tangible book value	15.12x
Price/EBITDA ratio	15.9x
Sector forward P/E	18.4x
Sector P/E	19.11x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	31.3%
EBITDA margin	32.08%
Effective tax rate	16.57%
FCF margin	22.87%
Gross margin	50.68%
Operating margin	31.3%
Pretax margin	35.59%
Profit margin	29.69%
Profit per employee	$922,916
Profitable quarters	58
Profitable years	23
Revenue per employee	$3.1M
ROA	17.12%
ROA (5Y)	10.74%
ROCE	33.56%
ROE	53.46%
ROE (5Y)	33.98%
ROIC	34.05%
ROIC (5Y)	24.06%
SBC / revenue	1.09%
Tax / revenue	5.9%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	44.39%
EPS growth (Q)	47.46%
EPS growth (QoQ)	8.75%
EPS growth 10Y	57.41%
EPS growth 3Y	51.07%
EPS growth 5Y	25.51%
EPS growth quarters	14
EPS growth years	3
FCF growth	26.86%
FCF growth (Q)	8.38%
FCF growth (QoQ)	89.06%
FCF growth 3Y	26.07%
FCF growth 5Y	137.27%
Gross profit growth	20.85%
Gross profit growth (Q)	27.11%
Gross profit growth 3Y	24.92%
Gross profit growth 5Y	15.29%
Net income growth	41.56%
Net income growth (Q)	43.86%
Net income growth (QoQ)	7.72%
Net income growth 3Y	48.32%
Net income growth 5Y	23.93%
Net income growth quarters	14
Net income growth years	3
OCF growth	28.55%
OCF growth (Q)	11.93%
OCF growth (QoQ)	81.34%
OCF growth 3Y	26.67%
OCF growth 5Y	79.62%
Operating income growth	23.11%
Operating income growth (Q)	37.26%
Operating income growth 3Y	37.34%
Operating income growth 5Y	19.02%
Revenue growth	14.65%
Revenue growth (Q)	11.85%
Revenue growth (QoQ)	2.5%
Revenue growth 10Y	19.79%
Revenue growth 3Y	14.95%
Revenue growth 5Y	11.68%
Revenue growth quarters	99
Revenue growth years	26

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-932.9M
Depreciation and amortization	$392.2M
EBIT	$15.6B
EBITDA	$16B
EPS	$3.45
FCF per share	$2.77
Financing cash flow	$-11.7B
Free cash flow	$11.4B
Free cash flow minus SBC	$10.8B
Gross profit	$25.2B
Income taxes	$2.9B
Investing cash flow	$-1.6B
Net borrowing	$992.6M
Net cash flow	$-1.1B
Net income	$14.8B
Operating cash flow minus SBC	$11.8B
Operating income	$15.6B
Revenue	$49.7B
Stock-based compensation	$540.1M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	10.77
Book value per share	$7.13
Debt / EBITDA	1.05
Debt / equity	0.6
Debt / FCF	1.54
Interest coverage	18.17
Long-term assets	$45.5B
Long-term liabilities	$17.1B
Net cash (debt)	$-9.3B
Net cash / market cap	-3.67%
Net debt / EBITDA	0.58
Net debt / equity	0.32
Net debt / FCF	0.82
Piotroski F-Score	6
Property, plant and equipment	$4.5B
Shareholders' equity	$29.3B
Tangible book value	$16.8B
Tangible book value per share	$4.09
Total assets	$58.7B
Total cash	$8.2B
Total debt	$17.5B
Total liabilities	$29.4B
WACC	12.54%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.88
Current assets	$13.2B
Current liabilities	$12.3B
Current ratio	1.07
Net working capital	$-4.4B
Quick ratio	0.84
Working capital	$921.5M
Working capital turnover	23.95

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.1%
Dividend yield	0%
Shareholder yield	2.1%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	388.38%
10Y return CAGR	17.19%
10Y total return	388.38%
150-day SMA	$80.05
15Y price change	5,247.62%
15Y return CAGR	30.38%
15Y total return	5,246.96%
1D price change	-0.97%
1M price change	-13.18%
1M total return	-13.18%
1W price change	-10.08%
1W total return	-10.08%
1Y price change	-43.57%
1Y return CAGR	-43.59%
1Y total return	-43.57%
20-day SMA	$68.11
200-day SMA	$81.87
20Y price change	15,572.42%
20Y return CAGR	28.75%
20Y total return	15,570.75%
3M price change	-12.27%
3M total return	-12.27%
3Y price change	55.24%
3Y return CAGR	15.79%
3Y total return	55.24%
50-day SMA	$73.39
50-day SMA vs 200-day SMA	50under200
52-week high	$116.73
52-week high date	2025-11-13
52-week low	$61.51
52-week low date	2026-10-28
5Y price change	-6.83%
5Y return CAGR	-1.4%
5Y total return	-6.83%
6M price change	-32.4%
6M total return	-32.4%
After-hours change	0.14%
After-hours close	$61.92
After-hours price	$62.00
All-time high	$134.12
All-time high date	2025-06-30
All-time low	$0.03
All-time low date	2002-10-10
Average true range (ATR)	$2.06
Average volume	43.4M
Beta (1Y)	0.64
Beta (2Y)	0.93
Beta (5Y)	1.61
Change from 52-week high	-46.96%
Change from 52-week low	0.66%
Change from all-time high	-53.95%
Change from all-time low	178,411.56%
Change from open	-0.07%
Day's gap	-0.9%
Dollar volume	$2.2B
High price	$62.63
Low price	$61.51
Monthly RSI	38.49
Open price	$61.96
Position in 52-week range	36.16%
Premarket change	-0.96%
Premarket close	$62.52
Premarket price	$61.92
Premarket volume	922.7K
Previous close	$62.52
Price vs 150-day SMA	-22.84%
Price vs 20-day SMA	-9.31%
Price vs 200-day SMA	-24.56%
Price vs 50-day SMA	-15.84%
Relative volume	0.82
RSI	29.9
Sharpe ratio	-1.53
Sharpe ratio (3Y)	0.47
Sharpe ratio (5Y)	0.13
Sortino ratio	-1.92
Sortino ratio (3Y)	0.86
Sortino ratio (5Y)	0.31
Volume	35.5M
Weekly RSI	30.81
YTD price change	-34.12%
YTD total return	-34.12%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	4.1B
Float percentage	99.29%
Shares change (QoQ)	-1.55%
Shares change (YoY)	-2.1%
Shares held by insiders	0.59%
Shares held by institutions	84.36%
Shares outstanding	4.1B
Short % of float	2.11%
Short % of shares	2.1%
Short ratio	2.5 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	2,655

Deeper analysis on NFLX

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this NFLX report

What is the latest published NFLX stock rating?

Netflix, Inc. is shown with Reduce in the latest published report, analyzed 2026-09-08. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full NFLX analysis?

The full latest published report, analyzed 2026-09-08, lives at /stocks/NFLX/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for NFLX?

The latest published report analyzed 2026-09-08 gives NFLX a fair value of USD 64 and a potential value of USD 79. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the NFLX page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-08). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

ReduceNFLX · Fair value $63.9-18.4%

Read full analysis →

Netflix, Inc. (NFLX)

Our latest published analysis: NFLX rated Reduce

Price

Financial snapshot

Fair-value bridge

Latest news · NFLX

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All NFLX indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on NFLX

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	3.0
Management	6.5
Balance Sheet	6.0
Profitability	8.5
Revenue Growth	6.0
Risk Assessment	5.5
Competitive Moat	6.0
Earnings Quality	6.5
Capital Efficiency	8.5