Netflix Inc Stock Research

Market Summary

USD328.39+8.02

Market Closed

2.50%

NFLX Alerts

Big fall in earnings (Y/Y)

NFLX Stock Price

NFLX RSI Chart

NFLX Valuation

Market Cap

146.2B

Price/Earnings (Trailing)

32.56

Price/Sales (Trailing)

4.63

EV/EBITDA

24.46

Price/Free Cashflow

90.36

NFLX Price/Sales (Trailing)

NFLX Profitability

Operating Margin

39.37%

EBT Margin

16.65%

Return on Equity

21.62%

Return on Assets

9.24%

Free Cashflow Yield

1.11%

NFLX Fundamentals

NFLX Revenue

Revenue (TTM)

31.6B

Revenue Y/Y

1.85%

Revenue Q/Q

-0.93%

NFLX Earnings

Earnings (TTM)

4.5B

Earnings Y/Y

-90.9%

Earnings Q/Q

-96.05%

Price Action

52 Week Range

162.71396.50

(Low)(High)

Last 7 days

5.9%

Last 30 days

-1.9%

Last 90 days

11.3%

Trailing 12 Months

-12.6%

NFLX Financial Health

Current Ratio

1.17

Debt/Equity

0.63

Debt/Cashflow

0.15

NFLX Investor Care

Shares Dilution (1Y)

0.31%

Diluted EPS (TTM)

9.95

Peers (Alternatives to Netflix)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
DIS	171.7B	84.4B	-7.47%	-32.30%	51.72	2.03	15.66%	7.72%
NFLX	146.2B	31.6B	-1.94%	-12.59%	32.56	4.63	6.46%	-12.20%
LYV	15.3B	16.7B	-12.58%	-44.05%	51.53	0.91	166.11%	145.47%
MID-CAP
WWE	6.3B	1.3B	-0.14%	38.29%	32.29	4.89	17.93%	10.25%
AMC	4.6B	3.9B	-28.59%	-77.90%	-4.75	1.18	54.73%	23.28%
MSGS	4.5B	-	-1.64%	14.12%	80.64	5.31	97.57%	3.36%
TRIP	2.4B	1.5B	-17.04%	-29.69%	118.12	1.58	65.41%	113.51%
SMALL-CAP
MSGE	1.9B	2.0B	-9.97%	-34.46%	-19.77	0.96	52.20%	29.12%
CNK	1.6B	2.5B	5.09%	-21.57%	-5.96	0.66	62.51%	35.86%
SCPL	394.8M	671.0M	2.84%	29.05%	17.63	0.59	10.71%	16.06%
RDI	70.8M	205.8M	-8.81%	-25.00%	-3.11	0.34	97.60%	-232.34%
GAIA	54.0M	82.0M	-0.19%	-50.10%	-17.44	0.66	3.09%	-182.95%
CSSE	45.8M	175.2M	-46.68%	-70.96%	-0.67	0.26	85.09%	-73.73%

Financials for Netflix

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.5%	31,616	31,473	31,031	30,402	29,698
Cost Of Revenue	0.9%	19,168	19,004	18,422	17,749	17,333
S&GA Expenses	-0.3%	1,573	1,578	1,527	1,452	1,352
R&D Expenses	1.0%	2,711	2,685	2,586	2,406	2,274
EBITDA	-7.4%	6,307	6,808	6,850	6,791	6,814
EBITDA Margin	-7.8%	0.20*	0.22*	0.22*	0.22*	0.23*
Earnings Before Taxes	-8.9%	5,264	5,775	5,815	5,785	5,840
EBT Margin	-9.3%	0.17*	0.18*	0.19*	0.19*	0.20*
Interest Expenses	-2.6%	706	725	743	759	766
Net Income	-10.9%	4,492	5,044	5,095	5,007	5,116
Net Income Margin	-11.3%	0.14*	0.16*	0.16*	0.16*	0.17*
Free Cahsflow	125.7%	1,619	717	160	-26.56	-131

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.2%	48,595	47,562	46,351	45,331	44,585
Current Assets	5.1%	9,266	8,817	7,841	8,098	8,070
Cash Equivalents	-15.8%	5,147	6,114	5,844	6,035	6,028
Net PPE	1.9%	1,398	1,373	1,362	1,384	1,323
Liabilities	2.9%	27,817	27,034	27,275	27,787	28,735
Current Liabilities	2.1%	7,931	7,766	7,500	7,740	8,489
. Short Term Borrowings	NaN%	-	-	-	-	700
Long Term Debt	-3.2%	13,175	13,610	15,729	18,030	-
LT Debt, Non Current	3.3%	14,353	13,888	14,233	14,535	14,693
Shareholder's Equity	1.2%	20,777	20,528	19,076	17,544	15,849
Retained Earnings	0.3%	17,181	17,126	15,728	14,287	12,689
Accumulated Depreciation	6.8%	710	665	690	616	-
Shares Outstanding	0.1%	445	445	445	444	444

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	71.8%	2,026	1,179	705	538	393
Share Based Compensation	10.5%	575	521	464	415	403
Cashflow From Investing	-43.8%	-2,076	-1,443	-1,547	-1,499	-1,339
Cashflow From Financing	17.7%	-664	-806	-892	-1,384	-1,149
Buy Backs	NaN%	0.00	0.00	133	600	-

Risks for NFLX

What is the probability of a big loss on NFLX?

63.9%

Probability that Netflix stock will be more than 20% underwater in next one year

56.5%

Probability that Netflix stock will be more than 30% underwater in next one year.

33.9%

Probability that Netflix stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NFLX drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Netflix was unfortunately bought at previous high price.

Drawdowns

Returns for NFLX

Cumulative Returns on NFLX

28.3%

10-Year Cumulative Returns

18.8%

7-Year Cumulative Returns

1.8%

5-Year Cumulative Returns

-2.8%

3-Year Cumulative Returns

What are the long-term rolling returns for NFLX?

FIve years rolling returns for Netflix.

Annualized Returns

Which funds bought or sold NFLX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-4.03	828,068	4,963,070	0.14%
2023-03-13	Claro Advisors LLC	reduced	-3.7	283,525	737,525	0.24%
2023-03-10	BAILLIE GIFFORD & CO	reduced	-0.25	409,107,000	2,049,540,000	2.14%
2023-03-10	MATHER GROUP, LLC.	added	5.22	145,978	605,978	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	32.81	47,666,800	119,523,000	0.13%
2023-03-07	Great Lakes Retirement, Inc.	new	-	1,151,980	1,151,980	0.30%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-56.6	-54,811,000	65,257,000	0.33%
2023-03-03	Crumly & Associates Inc.	added	2.47	140,172	635,172	0.24%
2023-03-03	TIAA, FSB	reduced	-1.47	2,483,660	13,087,700	0.05%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	added	13.71	54,415	183,415	0.10%

Latest Funds Activity

Are funds buying NFLX calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NFLX

No. of Funds

NFLX Alerts

Big fall in earnings (Y/Y)

Netflix News

Schedule 13G FIlings of Netflix

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	capital research global investors	4.2%	18,542,172	SC 13G/A
Feb 09, 2023	vanguard group inc	7.98%	35,523,919	SC 13G/A
Feb 09, 2023	fmr llc	-	0	SC 13G
Feb 01, 2023	blackrock inc.	6.2%	27,731,534	SC 13G/A
Feb 11, 2022	capital research global investors	5.9%	25,966,372	SC 13G/A
Feb 03, 2022	blackrock inc.	6.6%	29,228,602	SC 13G/A
Feb 16, 2021	capital research global investors	6.8%	30,232,937	SC 13G/A
Feb 10, 2021	vanguard group inc	7.51%	33,200,737	SC 13G/A
Jan 29, 2021	blackrock inc.	6.5%	28,731,448	SC 13G/A
Feb 14, 2020	capital research global investors	8.6%	38,002,047	SC 13G/A

NFLX Fair Value

Netflix fair value in different scenarios

The table shows the Fair Value estimates for Netflix for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	222.33 -32.30%	322.18 -1.89%	485.31 47.78%	700.14 113.20%	818.48 149.24%
Current Inflation	203.38 -38.07%	289.41 -11.87%	426.60 29.91%	607.25 84.92%	705.88 114.95%
Very High Inflation	180.04 -45.17%	249.92 -23.90%	357.61 8.90%	499.64 52.15%	576.26 75.48%

Historical Netflix Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Netflix

View All Filings

Date Filed	Form Type	Document
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading

Latest Insider Trading transactions for NFLX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-31	Hoag Jay C	acquired	408,798	285	1,431	-
2023-01-31	Hoag Jay C	acquired	350,318	154	2,267	-
2023-01-31	Hoag Jay C	sold	-1,305,170	352	-3,698	-
2023-01-30	Hoag Jay C	sold	-	-	-237,382	-
2023-01-30	Hoag Jay C	acquired	-	-	91,517	-
2023-01-30	Hoag Jay C	acquired	-	-	8,486	-
2023-01-30	Hoag Jay C	sold	-	-	-91,517	-
2023-01-30	Hoag Jay C	sold	-	-	-123,276	-
2023-01-30	Hoag Jay C	sold	-	-	-2,052	-

About Netflix

Wilmot R. Hastings

www.netflix.com

11300

Netflix, Inc. provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices. It also provides DVDs-by-mail membership services in the United States. The company has approximately 222 million paid members in 190 countries. Netflix, Inc. was incorporated in 1997 and is headquartered in Los Gatos, California.

NFLX Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenues	$ 31,615,550	$ 29,697,844	$ 24,996,056
Cost of revenues	19,168,285	17,332,683	15,276,319
Marketing	2,530,502	2,545,146	2,228,362
Technology and development	2,711,041	2,273,885	1,829,600
General and administrative	1,572,891	1,351,621	1,076,486
Operating income	5,632,831	6,194,509	4,585,289
Other income (expense):
Interest expense	(706,212)	(765,620)	(767,499)
Interest and other income (expense)	337,310	411,214	(618,441)
Income before income taxes	5,263,929	5,840,103	3,199,349
Provision for income taxes	(772,005)	(723,875)	(437,954)
Net income	$ 4,491,924	$ 5,116,228	$ 2,761,395
Earnings per share:
Basic (in USD per share)	$ 10.10	$ 11.55	$ 6.26
Diluted (in USD per share)	$ 9.95	$ 11.24	$ 6.08
Weighted-average common shares outstanding:
Basic (in shares)	444,698	443,155	440,922
Diluted (in shares)	451,290	455,372	454,208

NFLX Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 5,147,176	$ 6,027,804
Short-term investments	911,276	0
Other current assets	3,208,021	2,042,021
Total current assets	9,266,473	8,069,825
Content assets, net	32,736,713	30,919,539
Property and equipment, net	1,398,257	1,323,453
Other non-current assets	5,193,325	4,271,846
Total assets	48,594,768	44,584,663
Current liabilities:
Current content liabilities	4,480,150	4,292,967
Accounts payable	671,513	837,483
Accrued expenses and other liabilities	1,514,650	1,449,351
Deferred revenue	1,264,661	1,209,342
Short-term debt	0	699,823
Total current liabilities	7,930,974	8,488,966
Non-current content liabilities	3,081,277	3,094,213
Long-term debt	14,353,076	14,693,072
Other non-current liabilities	2,452,040	2,459,164
Total liabilities	27,817,367	28,735,415
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2022 and December 31, 2021; no shares issued and outstanding at December 31, 2022 and December 31, 2021	0	0
Common stock, $0.001 par value; 4,990,000,000 shares authorized at December 31, 2022 and December 31, 2021; 445,346,776 and 443,963,107 issued and outstanding at December 31, 2022 and December 31, 2021, respectively	4,637,601	4,024,561
Treasury stock at cost (1,564,478 shares at December 31, 2022 and December 31, 2021)	(824,190)	(824,190)
Accumulated other comprehensive loss	(217,306)	(40,495)
Retained earnings	17,181,296	12,689,372
Total stockholders’ equity	20,777,401	15,849,248
Total liabilities and stockholders’ equity	$ 48,594,768	$ 44,584,663