Company Valuation: Netflix, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 266,852 131,228 213,097 381,002 397,291 325,828 - -
Change - -50.82% 62.39% 78.79% 4.28% -17.99% - -
Enterprise Value (EV) 1 276,217 139,522 220,503 387,001 402,692 330,764 325,885 312,258
Change - -49.49% 58.04% 75.51% 4.05% -17.86% -1.48% -4.18%
P/E 53.6x 29.6x 40.5x 44.9x 37.1x 21.8x 20.5x 17.1x
PBR 17.3x 6.4x 10.4x 15.8x 15x 10.3x 8.86x 7.44x
PEG - -2.6x 1.9x 0.7x 1.3x 0.5x 3.17x 0.9x
Capitalization / Revenue 8.99x 4.15x 6.32x 9.77x 8.79x 6.36x 5.72x 5.19x
EV / Revenue 9.3x 4.41x 6.54x 9.92x 8.91x 6.46x 5.72x 4.97x
EV / EBITDA 40.6x 21.3x 28.8x 35.1x 28.7x 19.4x 16.2x 13.4x
EV / EBIT 44.6x 24.8x 31.7x 37.1x 30.2x 20.5x 17x 14x
EV / FCF -1,738x 86.2x 31.8x 55.9x 42.6x 25.7x 23x 18.8x
FCF Yield -0.06% 1.16% 3.14% 1.79% 2.35% 3.89% 4.35% 5.33%
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 78.25 78.25 78.25
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 20/01/22 19/01/23 23/01/24 21/01/25 20/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.31x4.08x9.42x1.33% 508B
21.83x6.46x19.4x-.--% 326B
23.01x2.71x13.79x-.--% 155B
38.22x4.48x29.65x-.--% 112B
34.37x6.78x19.06x-.--% 107B
81.15x4.87x23.2x-.--% 91.74B
2.8x74.2x2.07x0.15% 102B
10.25x7.64x91.63x0.66% 91.17B
8.19x3.12x64.55x0.73% 35.68B
Average 26.13x 12.70x 30.31x 0.32% 169.77B
Weighted average by Cap. 23.14x 9.58x 20.67x 0.51%

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