Netflix NFLX Ratios & Valuation
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 194.1%+2.1pp | 192%+2.4pp | 189.6%+2.8pp | 186.7%+4.7pp | 182.1%+3.9pp | |
| Operating margin | 117.9%+2.0pp | 115.9%+2.8pp | 113.1%+3.5pp | 109.6%+5.7pp | 103.9%+5.2pp | |
| Net margin | 101.5%+5.4pp | 96%+2.0pp | 94%+3.3pp | 90.7%+5.0pp | 85.7%+4.7pp | |
| EBITDA margin | 120.9%+2.0pp | 118.9%+2.7pp | 116.2%+3.4pp | 112.9%+5.5pp | 107.4%+5.0pp | |
| Free cash flow margin | 87.4%+6.8pp | 80.5%+3.2pp | 77.3%+1.7pp | 75.6%+1.6pp | 74%-1.3pp | |
| Returns | ||||||
| Return on equity | 177.7%+7.7pp | 170%+4.3pp | 165.7%+8.1pp | 157.5%+12.0pp | 145.6%+11.0pp | |
| Return on assets | 83.3%+5.3pp | 78%+3.1pp | 74.9%+4.2pp | 70.7%+5.9pp | 64.9%+5.3pp | |
| Return on invested capital | 131.5%+3.2pp | 128.3%+5.2pp | 123%+6.7pp | 116.3%+9.5pp | 106.8%+8.1pp | |
| Efficiency | ||||||
| Asset turnover | 3.3×0.0× | 3.2×+0.1× | 3.2×+0.1× | 3.1×+0.1× | 3×+0.1× | |
| Liquidity | ||||||
| Current ratio | 5.3×+0.2× | 5.1×0.0× | 5.1×+0.2× | 4.9×+0.4× | 4.5×+0.1× | |
| Quick ratio | 5.3×+0.2× | 5.1×0.0× | 5.1×+0.2× | 4.9×+0.4× | 4.5×+0.1× | |
| Cash ratio | 3.7×+0.3× | 3.4×+0.1× | 3.3×+0.3× | 3.1×+0.3× | 2.8×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 2.5×-0.2× | 2.7×-0.1× | 2.8×-0.2× | 2.9×-0.1× | 3×0.0× | |
| Debt-to-assets | 1.2×-0.1× | 1.3×0.0× | 1.3×0.0× | 1.3×0.0× | 1.4×0.0× | |
| Net debt / EBITDA | 2.2×-0.6× | 2.8×-0.4× | 3.1×-0.5× | 3.6×-0.4× | 4×-0.3× | |
| Interest coverage | 67.2×+1.1× | 66.2×+2.7× | 63.5×+3.5× | 60×+4.0× | 56×+4.0× | |
| Per Share | ||||||
| Book value per share | $130.54+1.4% | $128.80+0.4% | $128.30+6.6% | $120.39+6.3% | $113.30-27.5% | |
| Valuation | ||||||
| Market capitalization | $1.86T+0.4% | $1.85T+0.9% | $1.83T+12.5% | $1.63T+18.5% | $1.38T+11.0% | |
| Enterprise value | $1.89T+0.1% | $1.89T+0.8% | $1.87T+12.0% | $1.67T+17.9% | $1.42T+10.7% | |
| Price / earnings | 168.5×-12.7× | 181.2×-7.5× | 188.7×+9.6× | 179.1×+12.2× | 166.9×+2.3× | |
| Price / sales | 42.3×-1.3× | 43.5×-1.0× | 44.5×+3.6× | 40.9×+5.1× | 35.8×+2.4× | |
| Price / book | 69.4×-3.6× | 73×-0.5× | 73.4×+6.2× | 67.2×+8.7× | 58.6×+4.3× | |
| EV / EBITDA | 142.1×-7.0× | 149.1×-6.7× | 155.8×+8.2× | 147.6×+10.4× | 137.2×+2.7× | |
| EV / sales | 42.9×-1.4× | 44.4×-1.1× | 45.4×+3.5× | 41.9×+5.0× | 36.9×+2.4× | |
| Free cash flow yield | 8.6%+1.1pp | 7.6%+0.6pp | 7%-0.6pp | 7.6%-0.8pp | 8.4%-0.8pp | |
| Earnings yield | 10%+1.0pp | 9%+0.5pp | 8.5%-0.5pp | 9%-0.6pp | 9.6%-0.1pp | |
| PEG ratio | 4.7×-0.3× | 5×+0.7× | 4.3×+0.9× | 3.4×+0.6× | 2.8×+0.2× |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Netflix's profit margins?
- Netflix (NFLX) runs a 49.0% gross margin and a 29.7% operating margin, with a 28.5% net margin.
- Where do Netflix's ratios come from?
- Every ratio is computed from Netflix's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
