Question 1

What is Netflix's P/E ratio?

Accepted Answer

Netflix (NFLX) P/E ratio is 21.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Netflix?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Netflix specifically, the relevant sector benchmark is the current sector median of 21.9×.

Question 5

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

Accepted Answer

Netflix's P/E ratio of 21.4× is below its own 5-year average of 38.2× and below the sector median of 21.9×. That places the current reading at the 9th 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/E ratio range?

Accepted Answer

In the available daily series, Netflix (NFLX) P/E ratio has ranged from a low of 15.1× in 2022 to a high of 698.4× in 2004. The 5-year average is 38.2× and the 5-year median is 39.4×.

Question 7

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

Accepted Answer

Netflix (NFLX) P/E ratio at the end of 2025 was 36.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$397B	$11B	36.1×	-7.7×	Dec 31, 2025
2024	$381B	$8.71B	43.8×	+4.0×	Dec 31, 2024
2023	$215B	$5.41B	39.8×	+10.5×	Dec 31, 2023
2022	$131B	$4.49B	29.2×	-23.0×	Dec 31, 2022
2021	$267B	$5.12B	52.2×	-34.4×	Dec 31, 2021
2020	$239B	$2.76B	86.6×	+10.6×	Dec 31, 2020
2019	$142B	$1.87B	76.0×	-20.4×	Dec 31, 2019
2018	$117B	$1.21B	96.4×	-52.3×	Dec 31, 2018
2017	$83.2B	$559M	148.8×	-136.2×	Dec 31, 2017
2016	$53.2B	$187M	285.0×	-113.9×	Dec 31, 2016
2015	$48.9B	$123M	398.9×	+321.7×	Dec 31, 2015
2014	$20.6B	$267M	77.2×	-117.6×	Dec 31, 2014
2013	$21.9B	$112M	194.8×	-104.5×	Dec 31, 2013
2012	$5.13B	$17.2M	299.3×	+282.9×	Dec 31, 2012
2011	$3.71B	$226M	16.4×	-41.0×	Dec 31, 2011
2010	$9.24B	$161M	57.4×	+32.3×	Dec 31, 2010
2009	$2.91B	$116M	25.2×	+4.0×	Dec 31, 2009
2008	$1.76B	$83M	21.1×	-3.8×	Dec 31, 2008
2007	$1.67B	$66.9M	25.0×	-11.1×	Dec 31, 2007
2006	$1.77B	$49.1M	36.1×	+1.1×	Dec 31, 2006
2005	$1.47B	$42M	35.0×	+5.0×	Dec 31, 2005
2004	$648M	$21.6M	30.0×	-288.5×	Dec 31, 2004
2003	$1.39B	$4.37M	318.5×	—	Dec 31, 2003
2002	$247M	-$21.9M	—	—	Dec 31, 2002


Live Nation Entertainment (LYV)	423.6×
Omnicom Group (OMC)	244.9×
DoorDash (DASH)	70.7×
Roku (ROKU)	69.3×
TKO Group Holdings (TKO)	68.9×
Telephone and Data Systems (TDS)	36.5×
Reddit (RDDT)	36.4×
Pinterest (PINS)	34.9×
Spotify (SPOT)	31.5×
T-Mobile US (TMUS)	21.9×
Meta (META)	20.5×
Walt Disney (DIS)	14.5×
Fox (FOXA)	14.5×
News (NWSA)	13.1×
Verizon (VZ)	12.2×
Match Group (MTCH)	11.2×
John Wiley & Sons (WLY)	9.7×
Versant Media Group, Inc. Class A (VSNT)	6.3×
Comcast (CMCSA)	5.5×
Charter Communications (CHTR)	5.5×

P/E Ratio for Netflix (NFLX) 2003-2026

P/E Ratio daily chart for Netflix (NFLX)

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

About P/E Ratio at Netflix (NFLX)

Netflix P/E Ratio by Year

Netflix P/E Ratio 2025: 36.1×

Netflix P/E Ratio 2024: 43.8×

Netflix P/E Ratio 2023: 39.8×

Netflix P/E Ratio 2022: 29.2×

Netflix P/E Ratio 2021: 52.2×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Netflix (NFLX) Key Financials