Netflix, Inc. (NFLX) P/E Ratio History
Historical price-to-earnings valuation from 2003 to 2025
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NFLX Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Netflix, Inc. (NFLX) trades at a price-to-earnings ratio of 34.7x, with a stock price of $87.89 and trailing twelve-month earnings per share of $2.54.
The current P/E is 18% below its 5-year average of 42.3x. Over the past five years, NFLX's P/E has ranged from a low of 15.5x to a high of 63.1x, placing the current valuation at the 20th percentile of its historical range.
Compared to the Communication Services sector median P/E of 15.0x, NFLX trades at a 132% premium to its sector peers. The sector includes 108 companies with P/E ratios ranging from 0.1x to 171.4x.
The PEG ratio of 1.05 (P/E divided by 28% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, NFLX commands a significant premium over the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NFLX DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NFLX P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $180B | 14.7 | - | +152% | |
| $96B | 4.9Lowest | 0.26 | +30% | |
| $2.9T | 38.1 | 1.36 | +30% | |
| $4.2T | 38.1 | 2.13 | +23% | |
| $4.7T | 35.9 | 1.20 | +34% | |
| $9B | 11.7 | 0.24Best | +146% | |
| $18B | 210.9 | - | +166%Best | |
| $3.1T | 30.2 | 1.60 | +16% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
NFLX Historical P/E Data (2003–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $93.76 | $2.53 | 37.1x | -70% |
| FY2025 Q3 | $119.89 | $2.40 | 50.0x | -60% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $133.91 | $2.35 | 57.1x | -54% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $93.25 | $2.12 | 44.1x | -64% |
| FY2024 Q4 | $89.13 | $1.98 | 44.9x | -64% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $70.93 | $1.77 | 40.1x | -68% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $67.49 | $1.60 | 42.2x | -66% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $60.73 | $1.44 | 42.1x | -66% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $48.69 | $1.20 | 40.5x | -67% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $37.76 | $1.00 | 37.7x | -70% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $44.05 | $0.94 | 46.9x | -62% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $34.55 | $0.93 | 37.2x | -70% |
Average P/E for displayed period: 124.0x
Full NFLX Stock Analysis
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Start ComparisonNFLX — Frequently Asked Questions
Quick answers to the most common questions about buying NFLX stock.
Is NFLX stock overvalued or undervalued?
NFLX trades at 34.7x P/E, near its 5-year average of 42.3x. The 20th percentile ranking places valuation within normal historical bounds.
How does NFLX's valuation compare to peers?
Netflix, Inc. P/E of 34.7x compares to sector median of 15.0x. The premium reflects expected growth above peers.
What is NFLX's PEG ratio?
NFLX PEG ratio is 1.05. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 2003-2025.