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NETFLIX INC NFLX

Nasdaq · stock · Services-Video Tape Rental · website · IPO 2002-05-23 · LEI

NETFLIX INC statistics & valuation

Market cap$310.8B
P / E28.3×
P / S6.9×
P / B11.7×
P / FCF32.9×
Net margin24.3%
Return on equity41.3%
FCF margin20.9%
Net debt$4.4B
Net debt / EBITDA0.3×
Enterprise value USD$315.2B
EV / EBITDA23.1×
Earnings yield EBIT/EV4.2%
Return on capital29.9%
Graham number -74.8%$18.68

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($18.68); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
2.10% 4.80% 7.70% 9.30% 11.00% 17.20% 14.20% 16.00% 22.30% 24.30% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
4.30% 7.20% 10.20% 12.90% 18.30% 20.90% 17.80% 20.60% 26.70% 29.50% 2016201720182019202020212022202320242025
Return on equity (%)
7.00% 15.60% 23.10% 24.60% 25.00% 32.30% 21.60% 26.30% 35.20% 41.30% 2016201720182019202020212022202320242025
Shares outstanding
4.39B 4.47B 4.51B 4.52B 4.54B 4.55B 4.51B 4.49B 4.39B 4.34B 2016201720182019202020212022202320242025
Net debt ($)
$1.90B $6.23B $11.08B $15.71B $13.65B $8.67B $9.21B $7.03B $5.99B $4.43B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.40% 2.90% 4.70% 5.50% 7.00% 11.50% 9.20% 11.10% 16.20% 19.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
-17.90% -16.80% -18.10% -15.60% 7.70% -0.40% 5.10% 20.50% 17.70% 20.90% 2016201720182019202020212022202320242025
Debt / equity (×)
1.26× 2.53× 2.84× 2.73× 1.98× 0.93× 0.69× 0.69× 0.56× 0.51× 2016201720182019202020212022202320242025
EPS ($)
$0.04 $0.12 $0.27 $0.41 $0.61 $1.12 $0.99 $1.20 $1.98 $2.53 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

NETFLIX INC trades at about 29.3× earnings — below its 10-year norm (10-year range 33×–327.2×, median 83.6×).

29.3× 327.2×

Shaded band = 10-year range (33×–327.2×); dot = today's 29.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin29.5%26.7%20.6%17.8%20.9%18.3%12.9%10.2%7.2%4.3%
Net margin24.3%22.3%16.0%14.2%17.2%11.0%9.3%7.7%4.8%2.1%
FCF margin20.9%17.7%20.5%5.1%-0.4%7.7%-15.6%-18.1%-16.8%-17.9%
Return on assets19.8%16.2%11.1%9.2%11.5%7.0%5.5%4.7%2.9%1.4%
Return on equity41.3%35.2%26.3%21.6%32.3%25.0%24.6%23.1%15.6%7.0%
Debt / equity0.51×0.56×0.69×0.69×0.93×1.98×2.73×2.84×2.53×1.26×
Current ratio1.191.221.121.170.951.250.901.491.401.25

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.