Netflix (NFLX) EV to FCF (2009 - 2026)
Netflix (NFLX) posted EV to FCF of 188.95 for Q2 2026, up 145.06% on a QoQ basis from 77.1 in Q1 2026, and down 23.58% year-over-year from 247.26 in Q2 2025.
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Analysis
Netflix (NFLX) EV to FCF (2009 - 2026) Analysis & Trends
Netflix has reported EV to FCF for 18 years, with the latest figure at 188.95 in Q2 2026.
- On a quarterly basis, EV to FCF fell 23.58% year-over-year to 188.95 in Q2 2026; TTM through Jun 2026 was 25.84, a 60.82% decrease from a year earlier, with the FY2025 full-year figure at 40.88, down 23.86% from the prior year.
- EV to FCF was 188.95 for Q2 2026 at Netflix, up from 77.1 in the prior quarter.
- The five-year high for EV to FCF was 5651.87 in Q2 2022, with the low at 68.86 in Q1 2023.
- Average EV to FCF over 5 years is 481.55, with a median of 188.2 recorded in 2025.
- The sharpest annual moves came in 2022 and 2023: EV to FCF surged 535.24% in 2022, then plunged 97.53% in 2023.
- Over 5 years, EV to FCF stood at 377.03 in 2022, then sank by 65.86% to 128.73 in 2023, then soared by 109.49% to 269.68 in 2024, then decreased by 23.39% to 206.59 in 2025, then decreased by 8.54% to 188.95 in 2026.
- The last three EV to FCF figures came in at 188.95 (Q2 2026), 77.1 (Q1 2026), and 206.59 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 254.92 Bn | 72.79 Bn | 15.11 Bn |
| 5 | Shopify | 184.25 Bn | 161.43 Bn | 1.71 Bn |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - |
| 8 | PDD Holdings | 110.41 Bn | -141.52 Bn | 9.45 Bn |
| 9 | Spotify Technology | 104.89 Bn | 62.12 Bn | 1.86 Bn |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 25.84 |
| Mar 31, 2026 | 33.02 |
| Dec 31, 2025 | 40.88 |
| Sep 30, 2025 | 55.61 |
| Jun 30, 2025 | 65.95 |
| Mar 31, 2025 | 52.19 |
| Dec 31, 2024 | 53.70 |
| Sep 30, 2024 | 41.26 |
| Jun 30, 2024 | 41.50 |
| Mar 31, 2024 | 36.67 |
| Dec 31, 2023 | 29.39 |
| Sep 30, 2023 | 27.73 |
| Jun 30, 2023 | 43.81 |
| Mar 31, 2023 | 49.69 |
| Dec 31, 2022 | 77.40 |
| Sep 30, 2022 | 137.58 |
| Jun 30, 2022 | 449.15 |
| Sep 30, 2021 | 1,737.57 |
| Jun 30, 2021 | 162.57 |
| Mar 31, 2021 | 90.48 |
API Access
Netflix EV to FCF 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-fcf&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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-fcf&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();