Company Valuation: Netflix, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 266,852 131,228 213,097 381,002 397,291 337,487 - -
Change - -50.82% 62.39% 78.79% 4.28% -15.05% - -
Enterprise Value (EV) 1 276,217 139,522 220,503 387,001 402,692 342,423 337,544 323,917
Change - -49.49% 58.04% 75.51% 4.05% -14.97% -1.42% -4.04%
P/E 53.6x 29.6x 40.5x 44.9x 37.1x 22.5x 21.2x 17.6x
PBR 17.3x 6.4x 10.4x 15.8x 15x 10.7x 9.15x 7.68x
PEG - -2.6x 1.9x 0.7x 1.3x 0.5x 3.28x 0.9x
Capitalization / Revenue 8.99x 4.15x 6.32x 9.77x 8.79x 6.59x 5.92x 5.37x
EV / Revenue 9.3x 4.41x 6.54x 9.92x 8.91x 6.69x 5.92x 5.16x
EV / EBITDA 40.6x 21.3x 28.8x 35.1x 28.7x 20.1x 16.8x 13.9x
EV / EBIT 44.6x 24.8x 31.7x 37.1x 30.2x 21.2x 17.6x 14.5x
EV / FCF -1,738x 86.2x 31.8x 55.9x 42.6x 26.6x 23.8x 19.5x
FCF Yield -0.06% 1.16% 3.14% 1.79% 2.35% 3.76% 4.2% 5.13%
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 80.81 80.81 80.81
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.($)
22.61x6.69x20.09x-.--% 337B
15.69x4.19x9.66x1.3% 520B
22.98x2.7x13.77x-.--% 155B
38.33x4.5x29.74x-.--% 112B
34.62x6.83x19.21x-.--% 108B
88.72x5.36x25.53x-.--% 100B
2.79x73.83x2.06x0.15% 99.8B
10.6x8.03x93.67x0.63% 94.08B
8.46x2.72x59.09x0.74% 36.87B
196.75x2.99x87.13x-.--% 31.7B
Average 44.15x 11.78x 35.99x 0.28% 159.47B
Weighted average by Cap. 27.65x 9.37x 22.48x 0.49%

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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