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 3,22,289 - -
Change - -50.82% 62.39% 78.79% 4.28% -18.88% - -
Enterprise Value (EV) 1 2,76,217 1,39,522 2,20,503 3,87,001 4,02,692 3,27,225 3,22,346 3,08,719
Change - -49.49% 58.04% 75.51% 4.05% -18.74% -1.49% -4.23%
P/E 53.6x 29.6x 40.5x 44.9x 37.1x 21.6x 20.3x 16.9x
PBR 17.3x 6.4x 10.4x 15.8x 15x 10.2x 8.76x 7.36x
PEG - -2.6x 1.9x 0.7x 1.3x 0.5x 3.14x 0.8x
Capitalization / Revenue 8.99x 4.15x 6.32x 9.77x 8.79x 6.29x 5.65x 5.13x
EV / Revenue 9.3x 4.41x 6.54x 9.92x 8.91x 6.39x 5.65x 4.92x
EV / EBITDA 40.6x 21.3x 28.8x 35.1x 28.7x 19.2x 16.1x 13.3x
EV / EBIT 44.6x 24.8x 31.7x 37.1x 30.2x 20.3x 16.8x 13.9x
EV / FCF -1,738x 86.2x 31.8x 55.9x 42.6x 25.4x 22.7x 18.6x
FCF Yield -0.06% 1.16% 3.14% 1.79% 2.35% 3.93% 4.4% 5.39%
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 77.40 77.40 77.40
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.($)
14.8x3.95x9.1x1.38% 49TCr
21.59x6.39x19.2x-.--% 32TCr
21.88x2.57x13.05x-.--% 15TCr
37.13x4.34x28.63x-.--% 11TCr
2.93x78.73x2.19x0.14% 11TCr
32.04x6.29x17.66x-.--% 10TCr
78.06x4.63x22.05x-.--% 8.75TCr
10.03x7.33x88.11x0.68% 8.74TCr
7.78x2.98x61.82x0.77% 3.39TCr
Average 25.14x 13.02x 29.09x 0.33% 16.49TCr
Weighted average by Cap. 22.20x 10.14x 19.80x 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

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