Netflix, Inc. (NFLX) Stock Analysis
Netflix, Inc. by the reported numbers
On the most recently reported figures, Netflix, Inc. (NFLX) shows revenue up 15.9% and earnings per share up 27.8% year over year.
The business runs a net margin of 24.3%, a free cash flow margin of 20.9% and a 31.2% return on invested capital.
Its balance sheet carries net debt at 0.3× EBITDA.
The ImpliedLens normalized earnings-value model places the shares 76.1% above the current price under its disclosed assumptions, which you can change. At today's price the market is implying 21.8% less growth than the reported figures support.
Valuation
| Forward P/E | 18.0× | Price / trailing four-quarter actual EPS · Sep 30, 2026 |
|---|---|---|
| Model upside | +76.1% | ImpliedLens normalized earnings-value model · Oct 21, 2026 |
| Conservative case | −12.6% | ImpliedLens conservative earnings-value model · Oct 21, 2026 |
| Implied growth gap | −21.8% | ImpliedLens price-expectations model · Oct 21, 2026 |
Growth
| Revenue growth | +15.9% | SEC filing · Oct 21, 2026 |
|---|---|---|
| EPS growth | +27.8% | SEC filing · Oct 21, 2026 |
| Share count change | −1.1% | SEC filing · Oct 21, 2026 |
Profitability and returns
| Net margin | 24.3% | Derived from SEC filing · Oct 21, 2026 |
|---|---|---|
| Free cash flow margin | 20.9% | SEC filing · Oct 21, 2026 |
| Return on invested capital | 31.2% | Derived from SEC filing · Oct 21, 2026 |
| Return on equity | 37.5% | Derived from SEC filing · Oct 21, 2026 |
Balance sheet
| Net debt / EBITDA | 0.3× | Derived SEC operating-income proxy · Oct 21, 2026 |
|---|---|---|
| Equity / assets | 49.9% | Derived from SEC filing · Oct 21, 2026 |
Every figure above carries the source it came from and the date it was reported. Company filings as of Oct 21, 2026. Figures are reported and derived data, not advice, and the valuation model is one set of assumptions you can change.