Question 1

What is Netflix's P/B ratio?

Accepted Answer

Netflix (NFLX) P/B ratio is 11.3× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Netflix?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Netflix specifically, the relevant sector benchmark is the current sector median of 3.7×.

Question 5

Is Netflix's P/B ratio high or low?

Accepted Answer

Netflix's P/B ratio of 11.3× is below its own 5-year average of 12.6× and above the sector median of 3.7×. That places the current reading at the 39th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Netflix's historical P/B ratio range?

Accepted Answer

In the available daily series, Netflix (NFLX) P/B ratio has ranged from a low of 2.8× in 2002 to a high of 45.5× in 2011. The 5-year average is 12.6× and the 5-year median is 13.1×.

Question 7

What was Netflix's P/B ratio in 2025?

Accepted Answer

Netflix (NFLX) P/B ratio at the end of 2025 was 14.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Netflix's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$396.53B	$26.62B	14.9×	-0.5×	Dec 31, 2025
2024	$381.22B	$24.74B	15.4×	+5.0×	Dec 31, 2024
2023	$215.00B	$20.59B	10.4×	+4.1×	Dec 31, 2023
2022	$131.29B	$20.78B	6.3×	-10.5×	Dec 31, 2022
2021	$267.14B	$15.85B	16.9×	-4.8×	Dec 31, 2021
2020	$239.11B	$11.07B	21.6×	+2.9×	Dec 31, 2020
2019	$141.91B	$7.58B	18.7×	-3.6×	Dec 31, 2019
2018	$116.82B	$5.24B	22.3×	-0.9×	Dec 31, 2018
2017	$83.16B	$3.58B	23.2×	+3.4×	Dec 31, 2017
2016	$53.20B	$2.68B	19.9×	-2.2×	Dec 31, 2016
2015	$48.93B	$2.22B	22.0×	+10.9×	Dec 31, 2015
2014	$20.61B	$1.86B	11.1×	-5.3×	Dec 31, 2014
2013	$21.90B	$1.33B	16.4×	+9.5×	Dec 31, 2013
2012	$5.13B	$744.67M	6.9×	+1.1×	Dec 31, 2012
2011	$3.71B	$642.81M	5.8×	-26.1×	Dec 31, 2011
2010	$9.24B	$290.16M	31.8×	+17.2×	Dec 31, 2010
2009	$2.91B	$199.14M	14.6×	+9.6×	Dec 31, 2009
2008	$1.76B	$347.15M	5.1×	+1.2×	Dec 31, 2008
2007	$1.67B	$429.81M	3.9×	-0.4×	Dec 31, 2007
2006	$1.77B	$414.21M	4.3×	-2.2×	Dec 31, 2006
2005	$1.47B	$226.25M	6.5×	+2.4×	Dec 31, 2005
2004	$648.03M	$156.28M	4.1×	-8.2×	Dec 31, 2004
2003	$1.39B	$112.71M	12.3×	+9.6×	Dec 31, 2003
2002	$247.13M	$89.36M	2.8×	—	Dec 31, 2002


Take-Two Interactive Software (TTWO)	10.4×
Reddit (RDDT)	8.1×
Electronic Arts (EA)	7.5×
Alphabet (GOOGL)	7.3×
DoorDash (DASH)	6.4×
Meta (META)	5.9×
Roku (ROKU)	5.2×
TKO Group Holdings (TKO)	4.6×
Trade Desk (TTD)	4.4×
T-Mobile US (TMUS)	4.1×
Pinterest (PINS)	4.1×
Snap (SNAP)	3.7×
Nebius Group (NBIS)	3.7×
Fox (FOXA)	2.3×
John Wiley & Sons (WLY)	2.2×
Warner Bros. Discovery (WBD)	2.1×
Verizon (VZ)	2.0×
AT&T (T)	1.8×
Charter Communications (CHTR)	1.7×
Omnicom Group (OMC)	1.6×
News (NWSA)	1.6×
Walt Disney (DIS)	1.5×
Comcast (CMCSA)	1.2×
Telephone and Data Systems (TDS)	1.0×
Paramount Skydance (PSKY)	0.6×

P/B Ratio for Netflix (NFLX)

P/B Ratio daily chart for Netflix (NFLX)

Historical P/B Ratio for Netflix (NFLX) from 2002 to 2025

About P/B Ratio at Netflix (NFLX)

Netflix P/B Ratio by Year

Netflix P/B Ratio 2025: 14.9×

Netflix P/B Ratio 2024: 15.4×

Netflix P/B Ratio 2023: 10.4×

Netflix P/B Ratio 2022: 6.3×

Netflix P/B Ratio 2021: 16.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Netflix (NFLX) Key Financials

P/B Ratio daily chart for Netflix (NFLX)

Historical P/B Ratio for Netflix (NFLX) from 2002 to 2025

About P/B Ratio at Netflix (NFLX)

Netflix P/B Ratio by Year

Netflix P/B Ratio 2025: 14.9×

Netflix P/B Ratio 2024: 15.4×

Netflix P/B Ratio 2023: 10.4×

Netflix P/B Ratio 2022: 6.3×

Netflix P/B Ratio 2021: 16.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Netflix's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Netflix?

+Is Netflix's P/B ratio high or low?

+What is Netflix's historical P/B ratio range?

+What was Netflix's P/B ratio in 2025?

+Why does Netflix's P/B ratio change over time?

Netflix (NFLX) Key Financials