Company Valuation: Netflix, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 266,852 131,228 213,097 381,002 397,291 300,470 - -
Change - -50.82% 62.39% 78.79% 4.28% -24.37% - -
Enterprise Value (EV) 1 276,217 139,522 220,503 387,001 402,692 305,405 301,564 287,135
Change - -49.49% 58.04% 75.51% 4.05% -24.16% -1.26% -4.78%
P/E 53.6x 29.6x 40.5x 44.9x 37.1x 20.1x 18.9x 15.8x
PBR 17.3x 6.4x 10.4x 15.8x 15x 9.52x 8.18x 6.88x
PEG - -2.6x 1.9x 0.7x 1.3x 0.5x 3.01x 0.8x
Capitalization / Revenue 8.99x 4.15x 6.32x 9.77x 8.79x 5.87x 5.27x 4.79x
EV / Revenue 9.3x 4.41x 6.54x 9.92x 8.91x 5.96x 5.29x 4.58x
EV / EBITDA 40.6x 21.3x 28.8x 35.1x 28.7x 17.9x 15.1x 12.4x
EV / EBIT 44.6x 24.8x 31.7x 37.1x 30.2x 18.9x 15.8x 12.9x
EV / FCF -1,738x 86.2x 31.8x 55.9x 42.6x 23.7x 21.3x 17.3x
FCF Yield -0.06% 1.16% 3.14% 1.79% 2.35% 4.21% 4.7% 5.79%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 1.124 0.995 1.203 1.983 2.53 3.584 3.809 4.557
Distribution rate - - - - - - - -
Net sales 1 29,698 31,616 33,723 39,001 45,183 51,219 56,985 62,738
EBITDA 1 6,806 6,545 7,650 11,019 14,028 17,042 20,013 23,234
EBIT 1 6,195 5,633 6,954 10,418 13,327 16,127 19,117 22,202
Net income 1 5,116 4,492 5,408 8,712 10,981 15,266 15,846 18,446
Net Debt 1 9,365 8,295 7,405 5,999 5,400 4,936 1,094 -13,335
Reference price 2 60.24 29.49 48.69 89.13 93.76 72.16 72.16 72.16
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.58x4.16x9.62x1.31% 518B
20.14x5.96x17.92x-.--% 300B
21.59x2.5x12.75x-.--% 143B
3.05x82.87x2.31x0.14% 110B
35.92x4.18x27.32x-.--% 103B
30.45x5.94x16.69x-.--% 95.4B
10.58x7.62x91.51x0.65% 90.84B
74.34x4.39x20.92x-.--% 83.28B
7.99x3.02x62.54x0.75% 34.38B
Average 24.40x 13.40x 29.07x 0.32% 164.25B
Weighted average by Cap. 21.36x 10.54x 19.66x 0.53%

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

-40%: Exceptional extension
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