Company Valuation: Netflix, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 266,852 131,228 213,097 381,002 397,291 319,666 - -
Change - -50.82% 62.39% 78.79% 4.28% -19.54% - -
Enterprise Value (EV) 1 276,217 139,522 220,503 387,001 402,692 324,601 319,722 306,096
Change - -49.49% 58.04% 75.51% 4.05% -19.39% -1.5% -4.26%
P/E 53.6x 29.6x 40.5x 44.9x 37.1x 21.4x 20.1x 16.8x
PBR 17.3x 6.4x 10.4x 15.8x 15x 10.1x 8.69x 7.3x
PEG - -2.6x 1.9x 0.7x 1.3x 0.5x 3.11x 0.8x
Capitalization / Revenue 8.99x 4.15x 6.32x 9.77x 8.79x 6.24x 5.61x 5.09x
EV / Revenue 9.3x 4.41x 6.54x 9.92x 8.91x 6.34x 5.61x 4.87x
EV / EBITDA 40.6x 21.3x 28.8x 35.1x 28.7x 19x 15.9x 13.2x
EV / EBIT 44.6x 24.8x 31.7x 37.1x 30.2x 20.1x 16.7x 13.7x
EV / FCF -1,738x 86.2x 31.8x 55.9x 42.6x 25.2x 22.6x 18.4x
FCF Yield -0.06% 1.16% 3.14% 1.79% 2.35% 3.96% 4.43% 5.43%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 1.124 0.995 1.203 1.983 2.53 3.584 3.816 4.58
Distribution rate - - - - - - - -
Net sales 1 29,698 31,616 33,723 39,001 45,183 51,221 57,006 62,807
EBITDA 1 6,806 6,545 7,650 11,019 14,028 17,047 20,067 23,264
EBIT 1 6,195 5,633 6,954 10,418 13,327 16,131 19,149 22,283
Net income 1 5,116 4,492 5,408 8,712 10,981 15,266 15,855 18,468
Net Debt 1 9,365 8,295 7,405 5,999 5,400 4,936 56.59 -13,570
Reference price 2 60.24 29.49 48.69 89.13 93.76 76.77 76.77 76.77
Nbr of stocks (in thousands) 4,429,522 4,450,205 4,376,797 4,274,581 4,237,323 4,163,940 - -
Announcement Date 1/20/22 1/19/23 1/23/24 1/21/25 1/20/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.05x4.01x9.26x1.36% 500B
21.42x6.34x19.04x-.--% 320B
22.39x2.62x13.32x-.--% 149B
37.25x4.37x28.91x-.--% 109B
3.04x82.68x2.31x0.14% 111B
32.94x6.47x18.19x-.--% 103B
76.82x4.6x21.9x-.--% 86.85B
10x7.46x89.57x0.67% 89.05B
7.99x3.05x63.21x0.75% 34.82B
Average 25.21x 13.51x 29.52x 0.32% 166.9B
Weighted average by Cap. 22.19x 10.60x 20.01x 0.52%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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