Netflix (NFLX) EV to EBITDA (2009 - 2026)
Netflix's (NFLX) EV to EBITDA came in at 8.29 for Q3 2026, down 52.2% from 17.32 a year earlier and down 7.9% from the prior quarter.
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Analysis
Netflix (NFLX) EV to EBITDA (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, EV to EBITDA at Netflix was 7.38, down 55.0% year-over-year; for FY2025, it was 12.86, down 9.9% from FY2024.
- In prior years, Netflix's EV to EBITDA was 14.27 in FY2024 (+50.8%), 9.46 in FY2023 (+51.1%), 6.27 in FY2022 (-55.3%) and 14.03 in FY2021 (-5.9%).
- The Q3 2026 figure stands as the lowest quarterly EV to EBITDA since Q3 2023.
- On a year-over-year basis, EV to EBITDA has declined in each of the last four quarters, with growth averaging 7.9% over the last eight quarters.
- The strongest year-over-year quarter for EV to EBITDA in the past five years was Q2 2023, with growth of 145.5%; the weakest was Q2 2022, with a decline of 71.3%.
- According to Business Quant data, EV to EBITDA for the three prior quarters was 9.00 (Q2 2026), 12.63 (Q1 2026) and 12.86 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 8.29 |
| Jun 30, 2026 | 9.00 |
| Mar 31, 2026 | 12.63 |
| Dec 31, 2025 | 12.86 |
| Sep 30, 2025 | 17.32 |
| Jun 30, 2025 | 19.92 |
| Mar 31, 2025 | 14.44 |
| Dec 31, 2024 | 14.27 |
| Sep 30, 2024 | 11.82 |
| Jun 30, 2024 | 11.91 |
| Mar 31, 2024 | 11.25 |
| Dec 31, 2023 | 9.46 |
| Sep 30, 2023 | 7.58 |
| Jun 30, 2023 | 9.13 |
| Mar 31, 2023 | 7.27 |
| Dec 31, 2022 | 6.27 |
| Sep 30, 2022 | 4.97 |
| Jun 30, 2022 | 3.72 |
| Mar 31, 2022 | 8.39 |
| Dec 31, 2021 | 14.03 |
API Access
Netflix EV to EBITDA API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-ebitda&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "ticker": "NFLX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-ebitda&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();