Price to Earnings (P/E)
since 2005
Calculation
Netflix Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 27, 2025 | 47.72 | = | 97.19 | ÷ | 2.04 | 2.04 | = | 8,711,631 | ÷ | 4,277,571,000 | |
| Jan 26, 2024 | 45.64 | = | 57.04 | ÷ | 1.25 | 1.25 | = | 5,407,990 | ÷ | 4,327,595,840 | |
| Jan 26, 2023 | 36.18 | = | 36.49 | ÷ | 1.01 | 1.01 | = | 4,491,924 | ÷ | 4,453,467,760 | |
| Jan 27, 2022 | 33.56 | = | 38.67 | ÷ | 1.15 | 1.15 | = | 5,116,228 | ÷ | 4,439,631,070 | |
| Jan 28, 2021 | 86.39 | = | 53.86 | ÷ | 0.62 | 0.62 | = | 2,761,395 | ÷ | 4,428,952,610 | |
| Jan 29, 2020 | 80.67 | = | 34.32 | ÷ | 0.43 | 0.43 | = | 1,866,916 | ÷ | 4,388,066,490 | |
| Jan 29, 2019 | 118.55 | = | 32.89 | ÷ | 0.28 | 0.28 | = | 1,211,242 | ÷ | 4,365,985,970 | |
| Jan 29, 2018 | 220.96 | = | 28.46 | ÷ | 0.13 | 0.13 | = | 558,929 | ÷ | 4,339,484,610 | |
| Jan 27, 2017 | 328.55 | = | 14.25 | ÷ | 0.04 | 0.04 | = | 186,678 | ÷ | 4,304,115,930 | |
| Jan 28, 2016 | 329.51 | = | 9.44 | ÷ | 0.03 | 0.03 | = | 122,641 | ÷ | 4,280,812,210 | |
| Jan 29, 2015 | 100.63 | = | 6.34 | ÷ | 0.06 | 0.06 | = | 266,799 | ÷ | 4,234,865,740 | |
| Feb 3, 2014 | 215.28 | = | 5.78 | ÷ | 0.03 | 0.03 | = | 112,403 | ÷ | 4,186,506,520 | |
| Feb 1, 2013 | 537.02 | = | 2.35 | ÷ | 0.00 | 0.00 | = | 17,152 | ÷ | 3,919,543,390 | |
| Feb 10, 2012 | 30.37 | = | 1.77 | ÷ | 0.06 | 0.06 | = | 226,126 | ÷ | 3,879,304,240 | |
| Feb 18, 2011 | 77.34 | = | 3.36 | ÷ | 0.04 | 0.04 | = | 160,853 | ÷ | 3,702,344,660 | |
| Feb 22, 2010 | 30.08 | = | 0.93 | ÷ | 0.03 | 0.03 | = | 115,860 | ÷ | 3,747,328,550 | |
| Feb 25, 2009 | 25.23 | = | 0.51 | ÷ | 0.02 | 0.02 | = | 83,026 | ÷ | 4,107,903,590 | |
| Feb 28, 2008 | 28.79 | = | 0.45 | ÷ | 0.02 | 0.02 | = | 66,952 | ÷ | 4,283,284,040 | |
| Feb 28, 2007 | 31.36 | = | 0.32 | ÷ | 0.01 | 0.01 | = | 49,082 | ÷ | 4,809,516,530 | |
| Mar 16, 2006 | 33.20 | = | 0.36 | ÷ | 0.01 | 0.01 | = | 42,027 | ÷ | 3,876,220,810 |
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.
The financial data indicates significant growth and fluctuations in the share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the observed periods.
- Share Price
- The share price shows an overall upward trend from a minimal value of $0.36 in 2006 to a high of $97.19 projected in 2025. Despite some volatility, notable increases are observed especially after 2015, where the share price rose sharply from $9.44 to a peak of $53.86 in 2021, followed by a slight dip in the subsequent two years before ascending again to $97.19 in 2025. This suggests growing market confidence and possibly enhanced market capitalization over time.
- Earnings Per Share (EPS)
- EPS demonstrates a gradual improvement from $0.01 in 2006, maintaining low single-digit cents for the first several years before rising more substantially after 2017. The EPS increased from $0.13 in 2018 to $2.04 projected in 2025, reflecting improved profitability and operational efficiency. Some minor fluctuations are noticed around 2013 and 2016, but the general trajectory is positive, indicating increased earnings generated per share over the years.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio exhibits considerable variability, first ranging between approximately 25 and 77 from 2006 to 2011, then experiencing extreme spikes such as 537 in 2013 and other peaks above 300 in the mid-2010s. Following these spikes, there is a gradual normalization trend with values settling closer to the 33-47 range between 2021 and 2025. The high volatility in P/E ratios could imply fluctuating investor sentiment, periods of rapid growth expectations, or cyclical earnings changes. The unusually high P/E values correspond to years with very low or zero EPS, which could distort the ratio.
In summary, the data reflects robust share price appreciation accompanied by steadily increasing earnings per share, signaling improved financial health and investor appeal. The P/E ratio's volatility highlights periods of speculative valuation or earnings instability, but recent stabilization suggests the company may have reached a more mature and consistent valuation stage within the market.
Comparison to Competitors
Netflix Inc., P/E, long-term trends, comparison to competitors
| Netflix Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Trade Desk Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Jan 27, 2025 | 47.72 | 23.54 | 7.86 | 27.91 | 90.94 | 39.74 |
| Jan 26, 2024 | 45.64 | 23.89 | 12.01 | 30.97 | 206.87 | 73.44 |
| Jan 26, 2023 | 36.18 | 22.47 | 31.38 | 21.10 | 609.53 | 54.90 |
| Jan 27, 2022 | 33.56 | 25.74 | 16.01 | 16.44 | 284.75 | 137.89 |
| Jan 28, 2021 | 86.39 | 34.65 | 22.37 | 25.89 | 176.64 | — |
| Jan 29, 2020 | 80.67 | 28.96 | 15.39 | 32.31 | 120.88 | 23.96 |
| Jan 29, 2019 | 118.55 | 25.92 | 14.11 | 21.51 | 98.86 | 13.36 |
| Jan 29, 2018 | 220.96 | 59.34 | 8.70 | 35.20 | 46.38 | 17.28 |
| Jan 27, 2017 | 328.55 | 28.45 | 20.56 | 37.05 | — | 16.65 |
| Jan 28, 2016 | 329.51 | 29.71 | 17.78 | 84.21 | — | 23.41 |
| Jan 29, 2015 | 100.63 | 24.87 | 18.01 | 74.26 | — | 20.31 |
| Feb 3, 2014 | 215.28 | 30.87 | 21.12 | 106.36 | — | 19.83 |
| Feb 1, 2013 | 537.02 | 23.14 | 17.05 | 1,336.24 | — | 15.18 |
| Feb 10, 2012 | 30.37 | 18.97 | 19.40 | — | — | 12.48 |
| Feb 18, 2011 | 77.34 | 23.60 | 19.29 | — | — | 17.62 |
| Feb 22, 2010 | 30.08 | 26.00 | 12.59 | — | — | 17.36 |
| Feb 25, 2009 | 25.23 | 26.67 | 14.52 | — | — | 7.83 |
| Feb 28, 2008 | 28.79 | 39.48 | 23.46 | — | — | 12.79 |
| Feb 28, 2007 | 31.36 | 45.31 | 32.61 | — | — | 20.22 |
| Mar 16, 2006 | 33.20 | 68.72 | 61.12 | — | — | 19.49 |
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/E, long-term trends, comparison to sector (media & entertainment)
| Netflix Inc. | Media & Entertainment | |
|---|---|---|
| Jan 27, 2025 | 47.72 | 25.28 |
| Jan 26, 2024 | 45.64 | 26.54 |
| Jan 26, 2023 | 36.18 | 24.66 |
| Jan 27, 2022 | 33.56 | 24.24 |
| Jan 28, 2021 | 86.39 | 36.67 |
| Jan 29, 2020 | 80.67 | 28.15 |
| Jan 29, 2019 | 118.55 | 22.41 |
| Jan 29, 2018 | 220.96 | 29.41 |
| Jan 27, 2017 | 328.55 | 27.75 |
| Jan 28, 2016 | 329.51 | 32.13 |
| Jan 29, 2015 | 100.63 | 27.07 |
| Feb 3, 2014 | 215.28 | 30.86 |
| Feb 1, 2013 | 537.02 | 22.94 |
| Feb 10, 2012 | 30.37 | 17.55 |
| Feb 18, 2011 | 77.34 | 21.71 |
| Feb 22, 2010 | 30.08 | 20.34 |
| Feb 25, 2009 | 25.23 | 16.53 |
| Feb 28, 2008 | 28.79 | 24.99 |
| Feb 28, 2007 | 31.36 | 32.30 |
| Mar 16, 2006 | 33.20 | 41.90 |
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/E, long-term trends, comparison to industry (communication services)
| Netflix Inc. | Communication Services | |
|---|---|---|
| Jan 27, 2025 | 47.72 | 23.64 |
| Jan 26, 2024 | 45.64 | 24.04 |
| Jan 26, 2023 | 36.18 | 25.67 |
| Jan 27, 2022 | 33.56 | 21.27 |
| Jan 28, 2021 | 86.39 | 36.86 |
| Jan 29, 2020 | 80.67 | 24.32 |
| Jan 29, 2019 | 118.55 | 19.52 |
| Jan 29, 2018 | 220.96 | 18.12 |
| Jan 27, 2017 | 328.55 | 24.36 |
| Jan 28, 2016 | 329.51 | 23.89 |
| Jan 29, 2015 | 100.63 | 26.45 |
| Feb 3, 2014 | 215.28 | 21.66 |
| Feb 1, 2013 | 537.02 | 27.51 |
| Feb 10, 2012 | 30.37 | 24.54 |
| Feb 18, 2011 | 77.34 | 16.12 |
| Feb 22, 2010 | 30.08 | 16.95 |
| Feb 25, 2009 | 25.23 | 13.32 |
| Feb 28, 2008 | 28.79 | 20.95 |
| Feb 28, 2007 | 31.36 | 28.07 |
| Mar 16, 2006 | 33.20 | 24.36 |
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).