Netflix, Inc. (NFLX) Stock

Netflix, Inc. (NFLX) is a Communication Services stock trading at $71.67 (as of 2026-06-24), with a market capitalization of $362.38B and a trailing P/E of -30.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Netflix provides entertainment through streaming and other delivery methods. It offers TV series, documentaries, feature films, and mobile games to paid members via internet-connected devices, and it also offers DVD-by-mail in the United States.

Understand Netflix, Inc.: how it makes money

Netflix provides streaming entertainment (TV series, documentaries, feature films, and mobile games) to paid members, delivering content over internet connected devices globally, and it also offers DVDs-by-mail membership in the United States.

Netflix’s profit engine is the combination of a large paid member base across 190 countries and sustained viewer engagement, which management tracks through engagement and view share metrics rather than single-title sales.

Business quality (Strong): Clear, global demand signals show up in the company’s operating KPIs (engagement and view share), but the provided facts also highlight how strongly performance appears to depend on how well specific titles and events resonate with viewers.

Bull case

Mass reach with a global paid base: Netflix has approximately 222 million paid members in 190 countries.
Viewer engagement is a tracked operating signal: The provided operating KPIs include Engagement (Share of TV Time) and View Share metrics, indicating management monitors how much attention Netflix captures.
Large audience draw from major titles and events: The provided KPIs include high view counts for multiple series and films, and sizable live-event viewership numbers.

Bear case

Performance sensitivity to viewer demand for specific content: Many provided KPIs are title or event specific (for example, series views and live-event viewers), which implies outcomes can vary as individual releases and events perform.
Engagement and view share can be competitive and volatile: Because the operating KPIs center on engagement and view share, a decline in those measures would directly signal weakening viewer attention.
Mixed-format business footprint: Netflix operates streaming on internet connected devices and also has a DVDs-by-mail membership service limited to the United States, which can create a more uneven mix across geographies.

Valuation — source: SEC EDGAR (first-party)
Price	$71.67
Market Cap	$362.38B
P/E Ratio	-30.2
EV / EBITDA	25.5
Price / Book	11.64
Price / Sales	7.73
DCF Value (model)	$53.11
DCF Upside vs Price	-25.9%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$45.18B
Net Margin	24.3%
Return on Equity	43.0%
Debt / Equity	0.46
Current Ratio	1.41
Revenue Growth (YoY)	16.2%
EPS Growth (YoY)	-81.5%
FCF Growth (YoY)	91.4%

Financial Health — source: SEC EDGAR
Altman Z-Score	8.98 (safe)
Piotroski F-Score	6/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	-30.2
Sector P/E (Communication Services)	22.4
Industry P/E (Entertainment)	45.5
vs Sector	-234.8%
vs Industry	-166.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)	15
Top Institutional Holder	VANGUARD GROUP INC ($36.57B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Communication Services
Industry	Entertainment
CEO	Theodore A. Sarandos
Employees	14,000
Country	US
IPO Date	2002-05-23

Related Companies (Business model: Consumer Subscription Content (Streaming, News, Audio) + Ad-Supported Digital Media / Social; 8 closest by market cap; US-domiciled)

Data as of 2026-06-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.