| Intrinsic Valuation of: NFLX | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 24 | Market Cap | $513B | |||||
| 2021 | - | - (-) | P/E Ratio | 51 | 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 | $210 | ||||||||
| 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 | $998 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $14B | WACC | 7.3% | 866 | 936 | 1,021 | 1,125 | 1,257 | |||
| Equity Value | $424B | 7.4% | 858 | 926 | 1,009 | 1,111 | 1,239 | ||||
| Shares Outstanding | 424,926,016 | 7.4% | 849 | 917 | 998 | 1,097 | 1,222 | ||||
| 7.9% | 775 | 831 | 897 | 976 | 1,073 | ||||||
| DCF Intrinsic Value | $998 | 8.4% | 711 | 758 | 812 | 877 | 954 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||