Netflix (NFLX) EV to FCF (2009 - 2026)
Netflix's EV to FCF was 24.40 in Q3 2026, down 56.1% from 55.61 a year earlier and down 5.6% from the prior quarter.
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Analysis
Netflix (NFLX) EV to FCF (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Netflix's EV to FCF was 21.72 through Sep 30, 2026, down 58.8% year-over-year; for FY2025, it was 40.88, down 23.9% from FY2024.
- In earlier years, EV to FCF was 53.70 in FY2024 (+82.7%), 29.39 in FY2023 (-62.0%) and 77.40 in FY2022.
- The Q3 2026 figure marks the lowest quarterly EV to FCF since Q4 2011.
- Compared with a year earlier, EV to FCF has declined for four straight quarters, with growth averaging 5.1% over the last eight quarters.
- The best year-over-year quarter for EV to FCF over five years was Q2 2022 (growth of 176.3%); the worst was Q3 2022 (a decline of 92.1%).
- Per Business Quant data, NFLX's EV to FCF in the three quarters before Q3 2026 was 25.84 (Q2 2026), 33.02 (Q1 2026) and 40.88 (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 | 24.40 |
| 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 |
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();