| Intrinsic Valuation of: NFLX | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 21 | Market Cap | $551B | |||||
| 2021 | - | - (-) | P/E Ratio | 61 | Total Asset | $54B | |||||
| 2022 | $-132M | - (-) | Net Income | $9B | Total Debt | $14B | |||||
| 2023 | $2B | 1326.4% (1252.0%) | EBITDA | $26B | Total Liab | $29B | |||||
| 2024 | $7B | 327.9% (301.2%) | Opr Margin | 0.27 | Debt/Equity | 0.56 | |||||
| 2025 | $7B | -0.1% (-13.6%) | PreTax Margin | 24.87 | BV/Share | -18 | |||||
| 5Y Average FCF | $4B | 551.4% (513.2%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (25.0%) | ||||||||||
| 2026 | $9B | MBG Intrinsic Value | $189 | ||||||||
| 2027 | $11B | ||||||||||
| 2028 | $14B | ||||||||||
| 2029 | $17B | ||||||||||
| 2030 | $21B | ||||||||||
| 2031 | $26B | ||||||||||
| Terminal Value | $549B | Net Worth/Share | $58 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $430B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $8B | $996 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $14B | WACC | 7.3% | 865 | 935 | 1,019 | 1,123 | 1,255 | |||
| Equity Value | $424B | 7.4% | 856 | 925 | 1,008 | 1,109 | 1,237 | ||||
| Shares Outstanding | 425,571,008 | 7.4% | 848 | 915 | 996 | 1,096 | 1,220 | ||||
| 7.9% | 774 | 829 | 895 | 974 | 1,071 | ||||||
| DCF Intrinsic Value | $996 | 8.4% | 710 | 757 | 811 | 875 | 953 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||