Price to Book Value (P/BV)
since 2005
Calculation
Netflix Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 27, 2025 | 16.80 | = | 971.89 | ÷ | 57.84 | 57.84 | = | 24,743,567 | ÷ | 427,757,100 | |
| Jan 26, 2024 | 11.99 | = | 570.42 | ÷ | 47.57 | 47.57 | = | 20,588,313 | ÷ | 432,759,584 | |
| Jan 26, 2023 | 7.82 | = | 364.87 | ÷ | 46.65 | 46.65 | = | 20,777,401 | ÷ | 445,346,776 | |
| Jan 27, 2022 | 10.83 | = | 386.70 | ÷ | 35.70 | 35.70 | = | 15,849,248 | ÷ | 443,963,107 | |
| Jan 28, 2021 | 21.56 | = | 538.60 | ÷ | 24.98 | 24.98 | = | 11,065,240 | ÷ | 442,895,261 | |
| Jan 29, 2020 | 19.86 | = | 343.16 | ÷ | 17.28 | 17.28 | = | 7,582,157 | ÷ | 438,806,649 | |
| Jan 29, 2019 | 27.41 | = | 328.90 | ÷ | 12.00 | 12.00 | = | 5,238,765 | ÷ | 436,598,597 | |
| Jan 29, 2018 | 34.48 | = | 284.59 | ÷ | 8.25 | 8.25 | = | 3,581,956 | ÷ | 433,948,461 | |
| Jan 27, 2017 | 22.88 | = | 142.45 | ÷ | 6.23 | 6.23 | = | 2,679,800 | ÷ | 430,411,593 | |
| Jan 28, 2016 | 18.18 | = | 94.41 | ÷ | 5.19 | 5.19 | = | 2,223,426 | ÷ | 428,081,221 | |
| Jan 29, 2015 | 14.45 | = | 63.40 | ÷ | 4.39 | 4.39 | = | 1,857,708 | ÷ | 423,486,574 | |
| Feb 3, 2014 | 18.14 | = | 57.77 | ÷ | 3.19 | 3.19 | = | 1,333,561 | ÷ | 418,650,652 | |
| Feb 1, 2013 | 12.39 | = | 23.54 | ÷ | 1.90 | 1.90 | = | 744,673 | ÷ | 391,954,339 | |
| Feb 10, 2012 | 10.68 | = | 17.70 | ÷ | 1.66 | 1.66 | = | 642,810 | ÷ | 387,930,424 | |
| Feb 18, 2011 | 42.92 | = | 33.64 | ÷ | 0.78 | 0.78 | = | 290,164 | ÷ | 370,234,466 | |
| Feb 22, 2010 | 17.54 | = | 9.32 | ÷ | 0.53 | 0.53 | = | 199,143 | ÷ | 374,732,855 | |
| Feb 25, 2009 | 6.05 | = | 5.11 | ÷ | 0.85 | 0.85 | = | 347,155 | ÷ | 410,790,359 | |
| Feb 28, 2008 | 4.48 | = | 4.51 | ÷ | 1.01 | 1.01 | = | 430,749 | ÷ | 428,328,404 | |
| Feb 28, 2007 | 3.74 | = | 3.22 | ÷ | 0.86 | 0.86 | = | 414,211 | ÷ | 480,951,653 | |
| Mar 16, 2006 | 6.24 | = | 3.64 | ÷ | 0.58 | 0.58 | = | 226,252 | ÷ | 387,622,081 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Netflix Inc. Annual Report.
- Share Price Trend
- The share price showed a general upward trend over the analyzed period. Starting at $3.64 in March 2006, it experienced a gradual increase with intermittent fluctuations until approximately 2011. From 2011 onwards, the price exhibited significant growth, reaching a peak of $571 in early 2024 and further rising to $972 by early 2025. Notable milestones include a sharp increase between 2016 and 2018, where the price almost doubled from $94 to $285, followed by accelerated growth towards 2025.
- Book Value per Share (BVPS) Trend
- BVPS also indicated a steady increase throughout the years, albeit with some volatility in the initial period. Beginning at $0.58 in 2006, the value saw a decline around 2008 and 2010 but recovered and increased steadily from 2011. The growth became more pronounced after 2014, rising from $5.19 to $57.84 by early 2025. The consistent upward movement suggests strengthening equity value per share over time.
- Price-to-Book Value (P/BV) Ratio Analysis
- P/BV ratio experienced marked fluctuations, reflecting changing market perceptions relative to the company's book value. The ratio started at 6.24 in 2006, dropped to a low near 3.74 in 2007, spiked significantly to 42.92 in 2011, and then stabilized with highs and lows between 7.82 and 34.48 through the subsequent years. In later years, the ratio generally ranged between 10 and 20, indicating the share price remained several times the book value per share but with moderated volatility compared to the earlier period.
- Insights
- The sustained increase in both share price and BVPS indicates enhanced company value and investor confidence. However, the fluctuations in P/BV ratio suggest periods of market optimism and correction phases, perhaps driven by company performance expectations or broader market conditions. The peak P/BV in 2011 hints at a period of very high valuation relative to book value, which later normalized somewhat, reflecting a dynamic valuation environment over the years.
Comparison to Competitors
Netflix Inc., P/BV, long-term trends, comparison to competitors
| Netflix Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Take-Two Interactive Software Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Jan 27, 2025 | 16.80 | 0.00 | 1.49 | 9.53 | 4.55 | 1.96 |
| Jan 26, 2024 | 11.99 | 6.22 | 2.24 | 7.91 | 2.60 | 1.74 |
| Jan 26, 2023 | 7.82 | 5.26 | 2.08 | 3.89 | 3.74 | 1.82 |
| Jan 27, 2022 | 10.83 | 7.78 | 2.36 | 5.18 | 6.23 | 3.11 |
| Jan 28, 2021 | 21.56 | 6.27 | 2.61 | 5.88 | 6.31 | 3.23 |
| Jan 29, 2020 | 19.86 | 4.94 | 2.43 | 5.91 | 5.71 | 2.98 |
| Jan 29, 2019 | 27.41 | 4.49 | 2.31 | 5.65 | 8.75 | 3.45 |
| Jan 29, 2018 | 34.48 | 4.93 | 2.88 | 7.54 | 8.04 | 3.76 |
| Jan 27, 2017 | 22.88 | 3.99 | 3.31 | 6.39 | 5.44 | 3.61 |
| Jan 28, 2016 | 18.18 | 3.91 | 2.78 | 7.02 | 4.10 | 4.41 |
| Jan 29, 2015 | 14.45 | 3.44 | 2.86 | 6.05 | 2.34 | 3.39 |
| Feb 3, 2014 | 18.14 | 4.57 | 2.84 | 10.31 | 2.58 | 2.68 |
| Feb 1, 2013 | 12.39 | 3.46 | 2.14 | 6.02 | 1.78 | 2.17 |
| Feb 10, 2012 | 10.68 | 3.18 | 1.71 | — | 2.34 | 1.61 |
| Feb 18, 2011 | 42.92 | 4.34 | 1.58 | — | 2.11 | 1.86 |
| Feb 22, 2010 | 17.54 | 4.71 | 1.07 | — | 1.48 | 1.70 |
| Feb 25, 2009 | 6.05 | 3.99 | 0.91 | — | 1.06 | 1.07 |
| Feb 28, 2008 | 4.48 | 7.31 | 1.47 | — | 3.01 | 1.95 |
| Feb 28, 2007 | 3.74 | 8.18 | 2.01 | — | 2.36 | 2.14 |
| Mar 16, 2006 | 6.24 | 10.69 | 1.41 | — | 1.63 | 1.88 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Media & Entertainment)
Netflix Inc., P/BV, long-term trends, comparison to sector (media & entertainment)
| Netflix Inc. | Media & Entertainment | |
|---|---|---|
| Jan 27, 2025 | 16.80 | 3.46 |
| Jan 26, 2024 | 11.99 | 5.56 |
| Jan 26, 2023 | 7.82 | 4.04 |
| Jan 27, 2022 | 10.83 | 5.68 |
| Jan 28, 2021 | 21.56 | 5.41 |
| Jan 29, 2020 | 19.86 | 4.59 |
| Jan 29, 2019 | 27.41 | 4.53 |
| Jan 29, 2018 | 34.48 | 5.26 |
| Jan 27, 2017 | 22.88 | 4.46 |
| Jan 28, 2016 | 18.18 | 4.41 |
| Jan 29, 2015 | 14.45 | 3.77 |
| Feb 3, 2014 | 18.14 | 4.23 |
| Feb 1, 2013 | 12.39 | 3.00 |
| Feb 10, 2012 | 10.68 | 2.32 |
| Feb 18, 2011 | 42.92 | 2.75 |
| Feb 22, 2010 | 17.54 | 2.45 |
| Feb 25, 2009 | 6.05 | 1.84 |
| Feb 28, 2008 | 4.48 | 3.03 |
| Feb 28, 2007 | 3.74 | 3.22 |
| Mar 16, 2006 | 6.24 | 2.73 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Communication Services)
Netflix Inc., P/BV, long-term trends, comparison to industry (communication services)
| Netflix Inc. | Communication Services | |
|---|---|---|
| Jan 27, 2025 | 16.80 | 3.16 |
| Jan 26, 2024 | 11.99 | 4.49 |
| Jan 26, 2023 | 7.82 | 3.38 |
| Jan 27, 2022 | 10.83 | 4.29 |
| Jan 28, 2021 | 21.56 | 4.20 |
| Jan 29, 2020 | 19.86 | 3.70 |
| Jan 29, 2019 | 27.41 | 3.49 |
| Jan 29, 2018 | 34.48 | 4.14 |
| Jan 27, 2017 | 22.88 | 3.98 |
| Jan 28, 2016 | 18.18 | 3.88 |
| Jan 29, 2015 | 14.45 | 3.70 |
| Feb 3, 2014 | 18.14 | 3.60 |
| Feb 1, 2013 | 12.39 | 2.84 |
| Feb 10, 2012 | 10.68 | 2.18 |
| Feb 18, 2011 | 42.92 | 2.24 |
| Feb 22, 2010 | 17.54 | 1.97 |
| Feb 25, 2009 | 6.05 | 1.70 |
| Feb 28, 2008 | 4.48 | 2.33 |
| Feb 28, 2007 | 3.74 | 2.49 |
| Mar 16, 2006 | 6.24 | 2.45 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).