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 3,16,584 - -
Change - -50.82% 62.39% 78.79% 4.28% -20.31% - -
Enterprise Value (EV) 1 2,76,217 1,39,522 2,20,503 3,87,001 4,02,692 3,21,520 3,16,641 3,03,014
Change - -49.49% 58.04% 75.51% 4.05% -20.16% -1.52% -4.3%
P/E 53.6x 29.6x 40.5x 44.9x 37.1x 21.2x 19.9x 16.6x
PBR 17.3x 6.4x 10.4x 15.8x 15x 10x 8.61x 7.23x
PEG - -2.6x 1.9x 0.7x 1.3x 0.5x 3.08x 0.8x
Capitalization / Revenue 8.99x 4.15x 6.32x 9.77x 8.79x 6.18x 5.55x 5.04x
EV / Revenue 9.3x 4.41x 6.54x 9.92x 8.91x 6.28x 5.55x 4.82x
EV / EBITDA 40.6x 21.3x 28.8x 35.1x 28.7x 18.9x 15.8x 13x
EV / EBIT 44.6x 24.8x 31.7x 37.1x 30.2x 19.9x 16.5x 13.6x
EV / FCF -1,738x 86.2x 31.8x 55.9x 42.6x 25x 22.3x 18.2x
FCF Yield -0.06% 1.16% 3.14% 1.79% 2.35% 4% 4.48% 5.49%
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 76.03 76.03 76.03
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.($)
15.05x4.01x9.26x1.36% 50TCr
21.42x6.34x19.04x-.--% 32TCr
22.39x2.62x13.32x-.--% 15TCr
3.04x82.68x2.31x0.14% 11TCr
37.25x4.37x28.91x-.--% 11TCr
32.94x6.47x18.19x-.--% 10TCr
10x7.46x89.57x0.67% 8.9TCr
76.82x4.6x21.9x-.--% 8.69TCr
7.99x3.05x63.21x0.75% 3.48TCr
Average 25.21x 13.51x 29.52x 0.32% 16.69TCr
Weighted average by Cap. 22.19x 10.60x 20.01x 0.52%

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