Netflix (NFLX) stock
Communication Services · Movies & Entertainment
Netflix (NFLX) is a Movies & Entertainment company in the Communication Services sector, headquartered in Los Gatos, California. As of October 23, 2026, NFLX closed at $65.85, a market capitalization of $274.20 billion, the 41st largest company in the S&P 500. Over the last twelve months it generated $49.73 billion in revenue (+12% year over year) and $11.15 billion in free cash flow. The stock trades at 19.0x trailing earnings and 17.5x forward earnings.
- 1-year total return: -40.9% (dividends reinvested)
- 5-year return: -0.2% a year
- 52-week range: $64.10 – $116.73
- Gross margin 50.7%, operating margin 34.6%
- FI Handbook report card: B+ across 10 metrics
- 4th largest of 22 Communication Services stocks in the S&P 500
NFLX price chart
1Y price change: -40.9% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| NFLX | -7.7% | -29.8% | -40.9% | +17.4% | -0.2% | +17.8% | +29.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2002.
NFLX key statistics
- Market cap
- $274.2B
- #41 in S&P 500
- P/E (TTM)
- 19.0x
- Forward P/E
- 17.5x
- EPS (TTM)
- $3.46
- Revenue (TTM)
- $49.7B
- +12%
- Free cash flow
- $11.2B
- Gross margin
- 50.7%
- Operating margin
- 34.6%
- Return on equity
- 53.5%
- Dividend yield
- None
- 52-week range
- $64.10 – $116.73
- Beta
- 1.61
- Price / sales
- 5.5x
- EV / EBITDA
- 17.5x
- Debt / equity
- 0.60x
- Employees
- 16,000
NFLX report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth11.8%B
- Gross margin50.7%B
- Operating margin34.6%A
- FCF margin22.4%B
- Return on equity53.5%A
- Net debt / EBITDA0.6xB
- Forward P/E17.5xB
- PEG ratio1.4xB
- Shareholder yield3.3%B
- Share count change / yr-0.9%B
Netflix financials
Revenue went from $8.8B in fiscal 2016 to $45.2B in fiscal 2025, growing 19.9% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.8B | $11.7B | $15.8B | $20.2B | $25.0B | $29.7B | $31.6B | $33.7B | $39.0B | $45.2B |
| Gross profit | $2.6B | $3.7B | $5.8B | $7.7B | $9.7B | $12.4B | $12.4B | $14.0B | $18.0B | $21.9B |
| Operating income | $379.8M | $838.7M | $1.6B | $2.6B | $4.6B | $6.2B | $5.6B | $7.0B | $10.4B | $13.3B |
| Net income | $186.7M | $558.9M | $1.2B | $1.9B | $2.8B | $5.1B | $4.5B | $5.4B | $8.7B | $11.0B |
| EPS (diluted) | $0.04 | $0.13 | $0.27 | $0.41 | $0.61 | $1.12 | $0.99 | $1.20 | $1.98 | $2.53 |
| Free cash flow | -$1.6B | -$2.0B | -$2.9B | -$3.1B | $1.9B | -$132.0M | $1.6B | $6.9B | $6.9B | $9.5B |
| Buybacks | — | — | — | $0 | $0 | $600.0M | $0 | $6.0B | $6.3B | $9.1B |
| Diluted shares | 4.4B | 4.5B | 4.5B | 4.5B | 4.5B | 4.6B | 4.5B | 4.5B | 4.4B | 4.3B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into NFLX?
A reverse DCF asks what growth the current price requires. With an enterprise value of $283.5B and $11.2B of trailing free cash flow, Netflix needs to grow free cash flow about 16.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 37.4% a year over the last five years.
P/E ratio history
Current 26.0x vs. median 84.5x (10th–90th percentile 26.7x–420.2x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
NFLX earnings
Next report: January 19, 2027. Netflix has beaten EPS estimates 2 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 20, 2026 | $0.82 | $0.87 | +5.8% |
| Jul 16, 2026 | $0.79 | $0.80 | +1.4% |
| Apr 16, 2026 | $1.32 | $1.23 | -6.9% |
| Jan 20, 2026 | $0.55 | $0.56 | +1.4% |
| Oct 21, 2025 | $0.70 | $0.59 | -15.8% |
| Jul 17, 2025 | $0.71 | $0.72 | +1.9% |
| Apr 17, 2025 | $0.57 | $0.66 | +16.4% |
| Jan 21, 2025 | $0.42 | $0.43 | +1.8% |
Stocks like NFLX
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 DIS Walt Disney | -0.54% | +1% | $194.3B | 23.2x | Compare |
 LYV Live Nation Entertainment | -0.61% | +13% | $40.4B | — | Compare |
 SKYD Skydance | -0.26% | -52% | $39.2B | — | Compare |
 TKO TKO | -2.62% | -6% | $32.8B | 60.5x | Compare |
 GOOGL Alphabet | -1.24% | +27% | $3.9T | 16.1x | Compare |
 GOOG Alphabet | -1.08% | +25% | $3.9T | 15.9x | Compare |
 META Meta Platforms | -0.96% | -12% | $1.6T | 21.9x | Compare |
 VZ Verizon Communications | -1.19% | +24% | $185.6B | 11.6x | Compare |
NFLX news
- Netflix Is Down 51% From Its High. History Suggests This Is What Happens Next. · Oct 25, 2026
- Netflix Is Shaking Up Its Content Leadership. Here's What Needs to Happen Next. · Oct 25, 2026
- Netflix is losing ground to YouTube · Oct 25, 2026
- Netflix Stock Has Always Overcome the Odds. Has It Finally Hit a Wall? · Oct 24, 2026
- What Does Netflix (NFLX) Leadership Shake Up Mean For Its Content Direction? · Oct 24, 2026
NFLX stock FAQ
What is NFLX's market cap?
Netflix's market capitalization is $274.20 billion as of October 23, 2026, ranking 41st in the S&P 500.
What is NFLX's P/E ratio?
NFLX trades at a trailing price-to-earnings ratio of 19.0x and a forward P/E of 17.5x. Its median P/E over the period we track is 84.5x.
Does NFLX pay a dividend?
No. Netflix does not currently pay a regular cash dividend.
How much has NFLX stock returned?
Including reinvested dividends, NFLX returned -40.9% over one year, -0.2% a year over five years, +17.8% a year over ten years through October 23, 2026.
Is NFLX stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Netflix must grow free cash flow about 17% a year for the next decade. Its free cash flow grew 37% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does NFLX report earnings?
Netflix is expected to report earnings on January 19, 2027. It has beaten EPS estimates 2 quarters in a row.
How many employees does Netflix have?
Netflix has about 16,000 full-time employees, or $3.1 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology