Company Valuation: Netflix, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,66,852 1,31,228 2,13,097 3,81,002 3,97,291 2,88,270 - -
Change - -50.82% 62.39% 78.79% 4.28% -27.44% - -
Enterprise Value (EV) 1 2,76,217 1,39,522 2,20,503 3,87,001 4,02,692 2,93,205 2,89,364 2,74,934
Change - -49.49% 58.04% 75.51% 4.05% -27.19% -1.31% -4.99%
P/E 53.6x 29.6x 40.5x 44.9x 37.1x 19.3x 18.2x 15.2x
PBR 17.3x 6.4x 10.4x 15.8x 15x 9.13x 7.85x 6.6x
PEG - -2.6x 1.9x 0.7x 1.3x 0.5x 2.9x 0.8x
Capitalization / Revenue 8.99x 4.15x 6.32x 9.77x 8.79x 5.63x 5.06x 4.59x
EV / Revenue 9.3x 4.41x 6.54x 9.92x 8.91x 5.72x 5.08x 4.38x
EV / EBITDA 40.6x 21.3x 28.8x 35.1x 28.7x 17.2x 14.5x 11.8x
EV / EBIT 44.6x 24.8x 31.7x 37.1x 30.2x 18.2x 15.1x 12.4x
EV / FCF -1,738x 86.2x 31.8x 55.9x 42.6x 22.8x 20.4x 16.5x
FCF Yield -0.06% 1.16% 3.14% 1.79% 2.35% 4.39% 4.9% 6.05%
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 17,055 20,014 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 69.23 69.23 69.23
Nbr of stocks (in thousands) 44,29,522 44,50,205 43,76,797 42,74,581 42,37,323 41,63,940 - -
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.($)
15.2x4.05x9.39x1.34% 50TCr
19.32x5.72x17.19x-.--% 29TCr
21.35x2.44x12.42x-.--% 14TCr
2.96x79.76x2.22x0.14% 11TCr
35.88x4.18x27.3x-.--% 10TCr
29.37x5.7x16.02x-.--% 9.2TCr
10.12x7.27x87.32x0.68% 8.65TCr
68.99x4.06x19.32x-.--% 7.73TCr
7.57x2.88x59.75x0.79% 3.26TCr
Average 23.42x 12.90x 27.88x 0.33% 15.88TCr
Weighted average by Cap. 20.54x 10.16x 18.84x 0.54%

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