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 2,97,222 - -
Change - -50.82% 62.39% 78.79% 4.28% -25.19% - -
Enterprise Value (EV) 1 2,76,217 1,39,522 2,20,503 3,87,001 4,02,692 3,02,158 2,98,316 2,83,887
Change - -49.49% 58.04% 75.51% 4.05% -24.97% -1.27% -4.84%
P/E 53.6x 29.6x 40.5x 44.9x 37.1x 19.9x 18.7x 15.7x
PBR 17.3x 6.4x 10.4x 15.8x 15x 9.42x 8.09x 6.81x
PEG - -2.6x 1.9x 0.7x 1.3x 0.5x 2.97x 0.8x
Capitalization / Revenue 8.99x 4.15x 6.32x 9.77x 8.79x 5.8x 5.22x 4.74x
EV / Revenue 9.3x 4.41x 6.54x 9.92x 8.91x 5.9x 5.23x 4.52x
EV / EBITDA 40.6x 21.3x 28.8x 35.1x 28.7x 17.7x 14.9x 12.2x
EV / EBIT 44.6x 24.8x 31.7x 37.1x 30.2x 18.7x 15.6x 12.8x
EV / FCF -1,738x 86.2x 31.8x 55.9x 42.6x 23.5x 21.1x 17.1x
FCF Yield -0.06% 1.16% 3.14% 1.79% 2.35% 4.26% 4.75% 5.86%
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 17,042 20,013 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 71.38 71.38 71.38
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.($)
20.14x5.96x17.92x-.--% 30TCr
15.58x4.16x9.62x1.31% 52TCr
21.59x2.5x12.75x-.--% 14TCr
3.05x82.87x2.31x0.14% 11TCr
35.92x4.18x27.32x-.--% 10TCr
30.45x5.94x16.69x-.--% 9.54TCr
10.58x7.62x91.51x0.65% 9.08TCr
74.34x4.39x20.92x-.--% 8.33TCr
7.99x3.02x62.54x0.75% 3.44TCr
199.23x3.12x90.84x-.--% 3.29TCr
Average 41.89x 12.38x 35.24x 0.28% 15.11TCr
Weighted average by Cap. 25.23x 10.38x 21.21x 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

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