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Held by 3,458 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $75.31 today, the market must believe free cash flow compounds 17.7%/yr for a decade (off $7.8B normalized FCF).
The market's 17.7% is more conservative than its 5-yr track record.
2-stage DCF · 4.22B shares · net debt $5.4B
mean 64.4% · volatility σ 186% · implied rate exceeded in 2/4 yrs
Central path = implied 17.7%/yr growth; shaded band = ±1σ (186%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $45.18B 100.0% | $39.00B 100.0% | $33.72B 100.0% | $31.62B 100.0% | $29.70B 100.0% | $25.00B 100.0% | $20.16B 100.0% | $15.79B 100.0% | $11.69B 100.0% | $8.83B 100.0% |
| Cost of Revenue | $23.28B 51.5% | $21.04B 53.9% | $19.72B 58.5% | $19.17B 60.6% | $17.33B 58.4% | $15.28B 61.1% | $12.44B 61.7% | $9.97B 63.1% | $8.03B 68.7% | $6.26B 70.9% |
| Research & Development | $3.39B 7.5% | $2.93B 7.5% | $2.68B 7.9% | $2.71B 8.6% | $2.27B 7.7% | $1.83B 7.3% | $1.67B 8.3% | $1.22B 7.7% | $981.0M 8.4% | $768.0M 8.7% |
| Selling, General & Admin | $1.89B 4.2% | $1.70B 4.4% | $1.72B 5.1% | $1.57B 5.0% | $1.35B 4.6% | $1.08B 4.3% | $914.4M 4.5% | $630.3M 4.0% | $431.0M 3.7% | $315.7M 3.6% |
| Operating Income | $13.33B 29.5% | $10.42B 26.7% | $6.95B 20.6% | $5.63B 17.8% | $6.19B 20.9% | $4.59B 18.3% | $2.60B 12.9% | $1.61B 10.2% | $838.7M 7.2% | $379.8M 4.3% |
| Interest Expense | $776.5M 1.7% | $718.7M 1.8% | $699.8M 2.1% | $706.2M 2.2% | $765.6M 2.6% | $767.5M 3.1% | $626.0M 3.1% | $420.5M 2.7% | $238.2M 2.0% | $150.1M 1.7% |
| Other Income (Expense), net | $172.5M 0.4% | $266.8M 0.7% | -$48.8M -0.1% | $337.3M 1.1% | $411.2M 1.4% | -$618.4M -2.5% | $84.0M 0.4% | $41.7M 0.3% | -$115.2M -1.0% | $30.8M 0.3% |
| Pretax Income | $12.72B 28.2% | $9.97B 25.6% | $6.21B 18.4% | $5.26B 16.6% | $5.84B 19.7% | $3.20B 12.8% | $2.06B 10.2% | $1.23B 7.8% | $485.3M 4.2% | $260.5M 3.0% |
| Income Tax Expense | $1.74B 3.9% | $1.25B 3.2% | $797.4M 2.4% | $772.0M 2.4% | $723.9M 2.4% | $438.0M 1.8% | $195.3M 1.0% | $15.2M 0.1% | -$73.6M -0.6% | $73.8M 0.8% |
| Net Income | $10.98B 24.3% | $8.71B 22.3% | $5.41B 16.0% | $4.49B 14.2% | $5.12B 17.2% | $2.76B 11.0% | $1.87B 9.3% | $1.21B 7.7% | $558.9M 4.8% | $186.7M 2.1% |
| Per Share | ||||||||||
| EPS (Basic) | $2.58 | $2.03 | $1.22 | $10.10 | $11.55 | $6.26 | $4.26 | $2.78 | $1.29 | $0.44 |
| EPS (Diluted) | $2.53 | $1.98 | $1.20 | $9.95 | $11.24 | $6.08 | $4.13 | $2.68 | $1.25 | $0.43 |
| Weighted Avg Shares (Basic) | 4.25B | 4.30B | 4.42B | 444.7M | 443.2M | 440.9M | 437.8M | 435.4M | 431.9M | 428.8M |
| Weighted Avg Shares (Diluted) | 4.34B | 4.39B | 4.49B | 451.3M | 455.4M | 454.2M | 451.8M | 451.2M | 446.8M | 438.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $9.1B buybacks = $9.1B returned on $9.5B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 27%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $9.0B covers the $1.5B due within a year 6.1× over. Scheduled principal only (excludes interest & revolver draws). As of 2019-12-31 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~5.4% on $14.5B of debt.
Cash of $9.0B fully covers short-term debt of $999M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 87th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 63.1 | 61.7 | 61.1 | 58.4 | 60.6 | 58.5 | 53.9 | 51.5 |
| R&D | 7.7 | 8.3 | 7.3 | 7.7 | 8.6 | 7.9 | 7.5 | 7.5 |
| SG&A | 4.0 | 4.5 | 4.3 | 4.6 | 5.0 | 5.1 | 4.4 | 4.2 |
| Operating Income | 10.2 | 12.9 | 18.3 | 20.9 | 17.8 | 20.6 | 26.7 | 29.5 |
| Income Tax | 0.1 | 1.0 | 1.8 | 2.4 | 2.4 | 2.4 | 3.2 | 3.9 |
| Net Income | 7.7 | 9.3 | 11.0 | 17.2 | 14.2 | 16.0 | 22.3 | 24.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NFLX: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 192 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOG | $4.15T | 31.8× | 27.8× | 10.3× | 15.1% | 59.7% | 32.8% | 31.8% | 28.5% | 0.3× | 4,874 |
| META | $1.72T | 29.1× | 17.1× | 8.6× | 22.2% | 82.0% | 30.1% | 27.8% | 21.9% | 0.6× | 4,839 |
| AMX | $1.40T | — | — | — | — | — | — | — | — | — | 318 |
| CHT | $354.7B | — | — | — | — | — | — | — | — | — | 206 |
| NFLX | $318.0B | 29.8× | 23.7× | 7.0× | 15.9% | 48.5% | 24.3% | 41.3% | 26.7% | 1.1× | 3,458 |
| CCZ | $239.2B | 12.0× | 6.4× | 1.9× | -0.0% | — | 16.2% | 20.6% | 19.4% | 0.2× | 1 |
| VZ | $204.2B | 11.9× | 4.2× | 1.5× | 2.5% | — | 12.4% | 16.2% | 16.2% | 0.0× | 3,122 |
| DIS | $200.2B | 15.4× | 10.3× | 2.1× | 3.4% | — | 13.1% | 11.3% | 8.2% | 1.8× | 2,883 |
| TMUS | $184.2B | 17.1× | 8.3× | 2.1× | 8.5% | — | 12.4% | 18.6% | 7.6% | 2.7× | 1,648 |
| T | $182.0B | 8.3× | 6.8× | 1.4× | 2.7% | — | 17.5% | 17.4% | 8.1% | 3.2× | 2,848 |
| VEON | $127.2B | — | — | — | — | — | — | — | — | — | 97 |
| DASH | $83.1B | 91.3× | 53.5× | 6.1× | 27.9% | — | 6.8% | 9.3% | 9.3% | — | 973 |
| WBD | $70.0B | 97.4× | 15.3× | 1.9× | -5.1% | — | 1.9% | 2.0% | 1.1% | 5.1× | 1,259 |
| EA | $52.6B | 59.7× | 36.1× | 7.0× | 0.9% | 79.0% | 11.8% | 13.1% | 13.1% | — | 998 |
| LYV | $39.6B | — | 25.1× | 1.6× | 8.8% | — | 2.0% | 183% | 5.9% | 5.0× | 779 |
| TTWO | $39.0B | — | 424.4× | 5.9× | 18.2% | 57.2% | -4.5% | -8.5% | -4.9% | 26.7× | 1,011 |
| TWLO | $37.5B | 1172.6× | 107.1× | 7.4× | 13.7% | 48.9% | 0.7% | 0.4% | 0.4% | 2.8× | 776 |
| RDDT | $28.5B | 58.3× | 60.1× | 12.9× | 69.4% | 91.2% | 24.1% | 18.1% | 18.1% | — | 765 |
| FOX | $26.9B | 11.9× | — | 1.6× | 16.6% | — | 14.1% | 19.2% | 12.4% | — | 505 |
| OMC | $24.6B | — | 57.5× | 1.4× | 10.1% | 8.5% | -0.3% | -0.5% | -0.3% | 15.8× | 1,083 |
| ROKU | $22.8B | 261.1× | 530.2× | 4.8× | 15.2% | 43.8% | 1.9% | 3.3% | 3.3% | — | 665 |
| FWONA | $21.5B | — | 39.5× | 4.8× | 22.7% | — | 12.4% | 7.2% | 4.3% | 7.9× | 283 |
| NWS | $18.9B | 16.1× | — | 2.2× | 2.4% | — | 14.0% | 13.4% | 11.0% | — | 304 |
| CHTR | $18.0B | 3.7× | 5.3× | 0.3× | -0.6% | — | 9.1% | 31.1% | 4.5% | 4.5× | 760 |
| TKO | $15.3B | 83.8× | 13.8× | 3.2× | -3.1% | — | 4.1% | 5.2% | 2.6% | 2.9× | 616 |
Peers = companies sharing NFLX's sector (Communication Services) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.