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Netflix (NFLX)

Market Price (9/13/2025): $1187.0 | Market Cap: $504.7 Bil
Sector: Communication Services | Industry: Movies & Entertainment

Netflix (NFLX)

Market Price (9/13/2025): $1187.0
Market Cap: $504.7 Bil
Sector: Communication Services
Industry: Movies & Entertainment

Investment Highlights

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15%		  Expensive valuation multiples
P/SPrice/Sales ratio is 12x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 41x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 56x, P/EPrice/Earnings or Price/(Net Income) is 49x
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 30%		  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.5%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 9.1 Bil, FCF LTM is 8.5 Bil		  
3 Low stock price volatility
Vol 12M is 33%		  
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 30%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 9.1 Bil, FCF LTM is 8.5 Bil
3 Low stock price volatility
Vol 12M is 33%
4 Expensive valuation multiples
P/SPrice/Sales ratio is 12x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 41x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 56x, P/EPrice/Earnings or Price/(Net Income) is 49x
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.5%

Market Valuation

 9/13/252024202320222021
Share Price CYE$1,187.00$891.32$486.88$294.88$602.44
Market Cap CYE ($ Bil)504.7381.2212.1131.3267.2
Total Debt ($ Bil)14.515.614.514.415.4
Total Cash ($ Bil)8.49.67.16.16.0
Enterprise Value ($ Bil)510.8396.8226.6145.7282.6
Valuation Ratios     
P/S TTM12.19.86.44.29.0
P/EBIT TTM40.535.830.922.040.4
P/E TTM49.244.039.829.252.2
Sector Ratios     
P/S TTM (Sector)1.11.01.11.22.0
P/EBIT TTM (Sector)1.10.8-0.11.13.2
P/E TTM (Sector)-0.7-0.6-0.6-0.31.7
 9/13/2520242023
Share Price CYE$1,187.00$891.32$486.88
Market Cap CYE ($ Bil)504.7381.2212.1
Total Debt ($ Bil)14.515.614.5
Total Cash ($ Bil)8.49.67.1
Enterprise Value ($ Bil)510.8396.8226.6
Valuation Ratios   
P/S TTM12.19.86.4
P/EBIT TTM40.535.830.9
P/E TTM49.244.039.8
Sector Ratios   
P/S TTM (Sector)1.11.01.1
P/EBIT TTM (Sector)1.10.8-0.1
P/E TTM (Sector)-0.7-0.6-0.6

Market Cap Chart

Business Description

Netflix, Inc. provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
NFLX Return67%11%-51%65%83%35%273%
Peers Return74%237%-58%39%13%47%461%
S&P 500 Return16%27%-19%24%23%12%101%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: AAPL, AMZN, AMC, FUBO, NFLX. See NFLX Returns vs. Peers.
[3] 2025 data is for the year up to 9/12/2025 (YTD)

Interactive Breakdown

Netflix Interactive Breakdown Analysis

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Netflix Earnings Notes  
2How Does NFLX Stack Up Against Its Peers?  
3Will You Be Comfortable Buying Netflix Stock?Return 
4Netflix vs Microsoft: Which Is A Better Investment?Counter-Intuitive Comparisons 
5Netflix vs Meta Platforms: Which Is A Better Investment?Counter-Intuitive Comparisons 
6Day 5 of Gains Streak for Netflix Stock with 6.7% Return (vs. 37% YTD) [8/12/2025]Notification 
7Better Bet Than NFLX Stock: Pay Less Than Netflix To Get More From LLY, MU   
8Wait For A Dip To Buy Netflix StockBuy or Fear 
9NFLX Dip Buy Analysis  
10Better Bet Than NFLX Stock: Pay Less Than Netflix To Get More From Sector Peers OPRA, YELP, EEX, IRDM, TIGO Actionable 
11ARTICLES  
12How Does NFLX Stack Up Against Its Peers? September 12th, 2025
13Will You Be Comfortable Buying Netflix Stock? September 11th, 2025
14S&P 500 Movers | Winners: WBD, PSKY, SNPS | Losers: ORCL, NFLX, BA September 11th, 2025
15Netflix Stock At $1,200: A Reality Check August 28th, 2025
16NFLX Stock Up 6.7% after 5-Day Win Streak August 13th, 2025
Title
0DASHBOARDS
1How Does NFLX Stack Up Against Its Peers?
2Will You Be Comfortable Buying Netflix Stock?
3S&P 500 Movers | Winners: WBD, PSKY, SNPS | Losers: ORCL, NFLX, BA
4Netflix Stock At $1,200: A Reality Check
5NFLX Stock Up 6.7% after 5-Day Win Streak
6ARTICLES
7Netflix Earnings Notes
8How Does NFLX Stack Up Against Its Peers?
9Will You Be Comfortable Buying Netflix Stock?
10Netflix vs Microsoft: Which Is A Better Investment?
11Netflix vs Meta Platforms: Which Is A Better Investment?
12Day 5 of Gains Streak for Netflix Stock with 6.7% Return (vs. 37% YTD) [8/12/2025]
13Better Bet Than NFLX Stock: Pay Less Than Netflix To Get More From LLY, MU 
14Wait For A Dip To Buy Netflix Stock
15NFLX Dip Buy Analysis
16Better Bet Than NFLX Stock: Pay Less Than Netflix To Get More From Sector Peers OPRA, YELP, EEX, IRDM, TIGO 

Recent Active Movers

1 Week Top Gainers

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1OCTOEightco900.0%562.1%
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4CWDCaliberCos268.8%-45.1%
5AIREReAlpha Tech257.5%-49.8%
6PTNMPitanium154.0% 
7OPIOffice Properties Income Trust144.0%-42.6%
8HYPDHyperion DeFi144.0% 
9ISPCiSpecimen128.4%-26.6%
10EDHLEverbright Digital127.6% 

1 Week Top Losers

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1DGNXDiginex-85.6% 
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#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11249.2%11249.2%
2GIBOGIBO7400.0% 
3LNZALanzaTech Global4710.5%-85.8%
4CHSNChanson International3717.0%-99.3%
5QMMMQMMM2669.4%5698.4%
6VTAKCatheter Precision1332.7%-71.4%
7CURXCuranex Pharmaceuticals1309.0%1309.0%
8OCTOEightco811.9%562.1%
9WLDSWearable Devices708.6%8.0%
10PTNMPitanium423.7% 

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1BINIBollinger Innovations-93.4%-100.0%
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6JEM707 Cayman-90.4%-98.0%
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8NXTTNext Technology-89.3%-93.8%
9NUTRNusaTrip-87.2%-87.2%
10CUPRCuprina-84.3% 

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1OCTOEightco900.0%562.1%
2QMMMQMMM875.3%5698.4%
3WLDSWearable Devices780.4%8.0%
4CWDCaliberCos268.8%-45.1%
5AIREReAlpha Tech257.5%-49.8%
6PTNMPitanium154.0% 
7OPIOffice Properties Income Trust144.0%-42.6%
8HYPDHyperion DeFi144.0% 
9ISPCiSpecimen128.4%-26.6%
10EDHLEverbright Digital127.6% 

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-85.6% 
2LGCLLucas GC-69.1%-76.6%
3YYGHYY-68.7%-76.6%
4BINIBollinger Innovations-61.6%-100.0%
5IPDNProfessional Diversity Network-54.5%-41.4%
6INHDInno-53.4%-4.4%
7CDTCDT Equity-49.2%-99.4%
8NFENew Fortress Energy-46.5%-91.3%
9TGHLGrowhub-44.8% 
10SLXNSilexion Therapeutics-43.1%-86.5%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Netflix

Financials

NFLXAAPLAMZNAMCFUBOMedian
NameNetflix Apple Amazon.c.AMC Ente.FuboTV  
Mkt Price1,188.44234.07228.152.814.27228.15
Mkt Cap505.33,488.32,426.81.21.5505.3
Rev LTM41,693408,625670,0384,9161,62641,693
Op Inc LTM12,304130,21476,190109-12512,304
FCF LTM8,50196,18413,481-3061328,501
FCF 3Y Avg6,527100,50321,677-484-936,527
CFO LTM9,070108,565121,137-601479,070
CFO 3Y Avg6,950111,55996,977-252-776,950

Growth & Margins

NFLXAAPLAMZNAMCFUBOMedian
NameNetflix Apple Amazon.c.AMC Ente.FuboTV  
Rev Chg LTM14.8%6.0%10.9%9.4%6.6%9.4%
Rev Chg 3Y Avg10.5%1.8%11.3%8.2%24.8%10.5%
Rev Chg Q15.9%9.6%13.3%35.6%-2.8%13.3%
QoQ Delta Rev Chg LTM3.8%2.1%3.0%8.1%-0.7%3.0%
Op Mgn LTM29.5%31.9%11.4%2.2%-7.7%11.4%
Op Mgn 3Y Avg23.6%30.8%7.9%-1.5%-17.5%7.9%
QoQ Delta Op Mgn LTM1.8%0.1%0.3%3.1%1.8%1.8%
CFO/Rev LTM21.8%26.6%18.1%-1.2%9.0%18.1%
CFO/Rev 3Y Avg18.6%28.4%15.8%-5.7%-6.8%15.8%
FCF/Rev LTM20.4%23.5%2.0%-6.2%8.1%8.1%
FCF/Rev 3Y Avg17.5%25.6%3.5%-10.9%-7.9%3.5%

Valuation

NFLXAAPLAMZNAMCFUBOMedian
NameNetflix Apple Amazon.c.AMC Ente.FuboTV  
Mkt Cap505.33,488.32,426.81.21.5505.3
P/S12.18.53.60.20.93.6
P/EBIT40.626.828.59.313.326.8
P/E49.335.134.4-3.416.334.4
P/CFO55.732.120.0-20.59.920.0
Total Yield2.0%3.3%2.9%-29.8%6.1%2.9%
Dividend Yield0.0%0.4%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg2.0%3.2%1.1%-21.1%-23.8%1.1%
D/E0.00.00.16.80.30.1
Net D/E0.00.00.06.40.10.0

Returns

NFLXAAPLAMZNAMCFUBOMedian
NameNetflix Apple Amazon.c.AMC Ente.FuboTV  
1M Rtn-1.3%0.3%1.6%-8.5%13.6%0.3%
3M Rtn-2.0%19.3%7.6%-10.8%34.7%7.6%
6M Rtn29.5%9.9%15.3%-3.1%34.3%15.3%
12M Rtn73.0%5.6%22.0%-42.7%137.2%22.0%
3Y Rtn444.8%54.6%79.9%-96.7%-7.4%54.6%
1M Excs Rtn-3.1%-1.5%-0.2%-10.3%11.7%-1.5%
3M Excs Rtn-11.1%8.7%-1.9%-19.1%16.3%-1.9%
6M Excs Rtn14.3%-7.3%-1.6%-20.3%25.5%-1.6%
12M Excs Rtn56.6%-13.0%7.3%-63.0%129.9%7.3%
3Y Excs Rtn353.6%-13.0%10.8%-161.6%-50.0%-13.0%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date7/18/20254/18/20251/27/202510/18/20247/19/20244/22/20241/26/202410/20/20237/21/20234/21/20231/26/202310/20/2022
Key Financials Quarterly            
Total Revenue11,07910,54310,2479,8259,5599,3708,8338,5428,1878,1627,8527,926
Ebitda7,7267,3016,5686,6906,5336,5465,2135,7495,3545,2654,2485,533
Operating Income3,7753,3472,2732,9092,6032,6331,4961,9161,8271,7145501,533
Net Income3,1252,8901,8692,3642,1472,3329381,6771,4881,305551,398
EPS7.356.764.375.524.995.402.153.803.352.930.123.14
Key Financials TTM            
Total Revenue TTM41,69340,17339,00137,58736,30434,93233,72332,74332,12631,90931,61631,473
Ebitda TTM28,28527,09226,33724,98124,04022,86121,58020,61520,40020,18920,33320,630
Operating Income TTM12,30411,13210,4189,6418,6487,8726,9546,0085,6245,3765,6335,715
Net Income TTM10,2489,2708,7127,7817,0956,4355,4084,5254,2464,2004,4925,044
Growth Rates Quarterly            
Total Revenue Growth15.9%12.5%16.0%15.0%16.8%14.8%12.5%7.8%2.7%3.7%1.9%5.9%
EBITDA Growth18.3%11.5%26.0%16.4%22.0%24.3%22.7%3.9%4.1%-2.7%-6.5%13.3%
Operating Income Growth45.0%27.1%51.9%51.8%42.5%53.6%172.1%25.0%15.8%-13.1%-13.0%-12.7%
Net Income Growth45.6%23.9%99.2%40.9%44.3%78.7%1596.4%20.0%3.2%-18.3%-90.9%-3.5%
Margins Quarterly            
EBITDA Margin69.7%69.3%64.1%68.1%68.3%69.9%59.0%67.3%65.4%64.5%54.1%69.8%
Operating Income Margin34.1%31.7%22.2%29.6%27.2%28.1%16.9%22.4%22.3%21.0%7.0%19.3%
Net Income Margin28.2%27.4%18.2%24.1%22.5%24.9%10.6%19.6%18.2%16.0%0.7%17.6%
Cash & Debt            
Total Cash8,3918,3719,5849,2246,6567,0467,1387,8678,5777,8286,0586,114
Total Debt14,45315,01715,58315,98113,98014,01614,54314,30016,99414,43714,35313,888
Net Debt / (Cash)6,0636,6465,9996,7577,3246,9707,4056,4338,4176,6108,2957,774
Cash Flows Quarterly            
FCF from Operations2,4232,7891,5372,3211,2912,2131,6631,9921,4402,179444557
Cash Flows TTM            
FCF from Operations TTM9,0707,9387,3617,4877,1597,3087,2746,0554,6203,2822,0261,179
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases1,6543,5369641,7001,6002,0002,5002,500645400-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC214.3%181.2%132.7%150.6%121.4%134.8%66.0%104.7%68.9%69.9%19.9%51.1%
Return on Invested Capital (ROIC) TTM            
ROIC TTM178.0%147.0%151.8%123.6%102.3%98.9%81.8%82.9%52.8%54.5%43.4%48.2%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Streaming revenues33,64031,47029,51524,75719,859
DVD revenues83146182239297
Total33,72331,61629,69824,99620,156


Price Behavior

NFLX Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.760.810.760.830.921.14
Up Beta0.060.721.070.780.771.02
Down Beta0.650.03-0.120.840.921.08
Up Capture119%54%62%101%153%402%
Bmk +ve Days10223571142415
Stock +ve Days12193169138396
Down Capture84%188%120%81%91%101%
Bmk -ve Days11192754106334
Stock -ve Days9223156110353

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity6,611,028
Short Interest: % Change Since 8152025-0.6%
Average Daily Volume2,482,068
Days-to-Cover Short Interest2.66
Basic Shares Quantity425,211,000
Short % of Basic Shares1.6%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/17/2025-5.1%-7.3%-2.8%
4/17/20251.5%13.2%22.5%
10/17/202411.1%9.7%19.8%
7/18/2024-1.5%-1.4%4.8%
4/18/2024-9.1%-7.5%1.7%
1/23/202410.7%14.4%19.6%
10/18/202316.1%18.8%34.9%
7/19/2023-8.4%-11.5%-15.6%
...
SUMMARY STATS   
# Positive91015
# Negative14138
Median Positive10.7%12.6%10.2%
Median Negative-5.8%-7.3%-9.9%
Max Positive16.9%20.8%34.9%
Max Negative-35.1%-43.1%-49.2%

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0HASTINGS REED 7022025Sell1314.67400525,87012,708,963Form
1Hoag Jay C 6092025Sell1255.582,6483,324,784263,782,921Form
2Hoag Jay C 6022025Sell1205.16247297,674284,705,557Form
3Hoag Jay C 6022025Sell1205.16247297,674284,705,557Form
4Hoag Jay C 5012025Sell1106.441,7261,909,719286,658,100Form

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