Question 1

What is Netflix's P/S ratio?

Accepted Answer

Netflix (NFLX) P/S ratio is 7.5× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Netflix?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Netflix specifically, the relevant sector benchmark is the current sector median of 2.3×.

Question 5

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

Accepted Answer

Netflix's P/S ratio of 7.5× is below its own 5-year average of 7.5× and above the sector median of 2.3×. That places the current reading at the 43th 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/S ratio range?

Accepted Answer

In the available daily series, Netflix (NFLX) P/S ratio has ranged from a low of 0.9× in 2012 to a high of 14.6× in 2025. The 5-year average is 7.5× and the 5-year median is 8.0×.

Question 7

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

Accepted Answer

Netflix (NFLX) P/S ratio at the end of 2025 was 8.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$45.18B	8.8×	-1.0×	Dec 31, 2025
2024	$381.22B	$39.00B	9.8×	+3.4×	Dec 31, 2024
2023	$215.00B	$33.72B	6.4×	+2.2×	Dec 31, 2023
2022	$131.29B	$31.62B	4.2×	-4.8×	Dec 31, 2022
2021	$267.14B	$29.70B	9.0×	-0.6×	Dec 31, 2021
2020	$239.11B	$25.00B	9.6×	+2.5×	Dec 31, 2020
2019	$141.91B	$20.16B	7.0×	-0.4×	Dec 31, 2019
2018	$116.82B	$15.79B	7.4×	+0.3×	Dec 31, 2018
2017	$83.16B	$11.69B	7.1×	+1.1×	Dec 31, 2017
2016	$53.20B	$8.83B	6.0×	-1.2×	Dec 31, 2016
2015	$48.93B	$6.78B	7.2×	+3.5×	Dec 31, 2015
2014	$20.61B	$5.50B	3.7×	-1.3×	Dec 31, 2014
2013	$21.90B	$4.37B	5.0×	+3.6×	Dec 31, 2013
2012	$5.13B	$3.61B	1.4×	+0.3×	Dec 31, 2012
2011	$3.71B	$3.20B	1.2×	-3.1×	Dec 31, 2011
2010	$9.24B	$2.16B	4.3×	+2.5×	Dec 31, 2010
2009	$2.91B	$1.67B	1.7×	+0.5×	Dec 31, 2009
2008	$1.76B	$1.36B	1.3×	-0.1×	Dec 31, 2008
2007	$1.67B	$1.21B	1.4×	-0.4×	Dec 31, 2007
2006	$1.77B	$996.66M	1.8×	-0.4×	Dec 31, 2006
2005	$1.47B	$682.21M	2.2×	+0.9×	Dec 31, 2005
2004	$648.03M	$506.23M	1.3×	-3.8×	Dec 31, 2004
2003	$1.39B	$272.24M	5.1×	+3.5×	Dec 31, 2003
2002	$247.13M	$152.81M	1.6×	—	Dec 31, 2002


Electronic Arts (EA)	6.8×
Meta (META)	6.7×
Take-Two Interactive Software (TTWO)	5.5×
Spotify (SPOT)	4.9×
DoorDash (DASH)	4.4×
Trade Desk (TTD)	3.6×
TKO Group Holdings (TKO)	3.1×
Roku (ROKU)	2.8×
Pinterest (PINS)	2.7×
T-Mobile US (TMUS)	2.6×
Telephone and Data Systems (TDS)	2.3×
Match Group (MTCH)	2.1×
Warner Bros. Discovery (WBD)	1.8×
Walt Disney (DIS)	1.7×
AT&T (T)	1.6×
News (NWSA)	1.5×
Fox (FOXA)	1.5×
Verizon (VZ)	1.5×
Live Nation Entertainment (LYV)	1.4×
Snap (SNAP)	1.3×
John Wiley & Sons (WLY)	1.0×
Comcast (CMCSA)	0.8×
Omnicom Group (OMC)	0.8×
Charter Communications (CHTR)	0.5×
Paramount Skydance (PSKY)	0.2×

P/S Ratio for Netflix (NFLX)

P/S Ratio daily chart for Netflix (NFLX)

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

About P/S Ratio at Netflix (NFLX)

Netflix P/S Ratio by Year

Netflix P/S Ratio 2025: 8.8×

Netflix P/S Ratio 2024: 9.8×

Netflix P/S Ratio 2023: 6.4×

Netflix P/S Ratio 2022: 4.2×

Netflix P/S Ratio 2021: 9.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Netflix (NFLX) Key Financials

P/S Ratio daily chart for Netflix (NFLX)

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

About P/S Ratio at Netflix (NFLX)

Netflix P/S Ratio by Year

Netflix P/S Ratio 2025: 8.8×

Netflix P/S Ratio 2024: 9.8×

Netflix P/S Ratio 2023: 6.4×

Netflix P/S Ratio 2022: 4.2×

Netflix P/S Ratio 2021: 9.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is Netflix's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

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

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

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

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

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

Netflix (NFLX) Key Financials