Netflix NFLX Ratios & Valuation
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 194.1%+12.0pp | 192%+13.8pp | 189.6%+15.9pp | 186.7%+18.8pp | 182.1%+19.2pp | |
| Operating margin | 117.9%+14.0pp | 115.9%+17.1pp | 113.1%+20.5pp | 109.6%+24.3pp | 103.9%+24.9pp | |
| Net margin | 101.5%+15.8pp | 96%+15.0pp | 94%+19.3pp | 90.7%+22.9pp | 85.7%+24.2pp | |
| EBITDA margin | 120.9%+13.5pp | 118.9%+16.5pp | 116.2%+19.7pp | 112.9%+23.4pp | 107.4%+24.1pp | |
| Free cash flow margin | 87.4%+13.3pp | 80.5%+5.2pp | 77.3%-0.8pp | 75.6%-0.9pp | 74%+3.0pp | |
| Returns | ||||||
| Return on equity | 177.7%+32.1pp | 170%+35.5pp | 165.7%+43.5pp | 157.5%+48.8pp | 145.6%+48.1pp | |
| Return on assets | 83.3%+18.4pp | 78%+18.4pp | 74.9%+21.2pp | 70.7%+23.0pp | 64.9%+22.6pp | |
| Return on invested capital | 131.5%+24.7pp | 128.3%+29.6pp | 123%+32.9pp | 116.3%+34.8pp | 106.8%+32.8pp | |
| Efficiency | ||||||
| Asset turnover | 3.3×+0.3× | 3.2×+0.3× | 3.2×+0.3× | 3.1×+0.3× | 3×+0.3× | |
| Liquidity | ||||||
| Current ratio | 5.3×+0.8× | 5.1×+0.7× | 5.1×+0.8× | 4.9×+0.5× | 4.5×-0.3× | |
| Quick ratio | 5.3×+0.8× | 5.1×+0.7× | 5.1×+0.8× | 4.9×+0.5× | 4.5×-0.3× | |
| Cash ratio | 3.7×+0.9× | 3.4×+0.6× | 3.3×+0.4× | 3.1×0.0× | 2.8×-0.5× | |
| Leverage | ||||||
| Debt-to-equity | 2.5×-0.5× | 2.7×-0.4× | 2.8×-0.4× | 2.9×-0.2× | 3×-0.1× | |
| Debt-to-assets | 1.2×-0.2× | 1.3×-0.1× | 1.3×-0.1× | 1.3×0.0× | 1.4×0.0× | |
| Net debt / EBITDA | 2.2×-1.9× | 2.8×-1.5× | 3.1×-1.6× | 3.6×-1.4× | 4×-1.5× | |
| Interest coverage | 67.2×+11.2× | 66.2×+14.2× | 63.5×+16.0× | 60×+17.7× | 56×+18.0× | |
| Per Share | ||||||
| Book value per share | $130.54+15.2% | $128.80-17.5% | $128.30-17.3% | $120.39-21.0% | $113.30-25.8% | |
| Valuation | ||||||
| Market capitalization | $1.86T+35.1% | $1.85T+49.4% | $1.83T+71.4% | $1.63T+74.9% | $1.38T+64.5% | |
| Enterprise value | $1.89T+33.2% | $1.89T+47.3% | $1.87T+68.5% | $1.67T+72.1% | $1.42T+62.1% | |
| Price / earnings | 168.5×+1.6× | 181.2×+16.6× | 188.7×+28.6× | 179.1×+21.3× | 166.9×+4.2× | |
| Price / sales | 42.3×+6.5× | 43.5×+10.1× | 44.5×+14.6× | 40.9×+14.0× | 35.8×+10.9× | |
| Price / book | 69.4×+10.9× | 73×+18.8× | 73.4×+24.3× | 67.2×+24.0× | 58.6×+19.9× | |
| EV / EBITDA | 142.1×+4.9× | 149.1×+14.6× | 155.8×+27.3× | 147.6×+23.2× | 137.2×+12.0× | |
| EV / sales | 42.9×+6.0× | 44.4×+9.9× | 45.4×+14.4× | 41.9×+13.9× | 36.9×+10.8× | |
| Free cash flow yield | 8.6%+0.3pp | 7.6%-1.6pp | 7%-3.6pp | 7.6%-4.1pp | 8.4%-3.1pp | |
| Earnings yield | 10%+0.4pp | 9%-0.7pp | 8.5%-1.5pp | 9%-1.1pp | 9.6%-0.3pp | |
| PEG ratio | 4.7×+1.9× | 5×+2.4× | 4.3×+0.5× | 3.4×— | 2.8×— |
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.
