Price to Book Value (P/BV)
since 2005
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
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Calculation
Netflix Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 23, 2026 | = | ÷ | = | ÷ | |||||||
| Jan 27, 2025 | = | ÷ | = | ÷ | |||||||
| Jan 26, 2024 | = | ÷ | = | ÷ | |||||||
| Jan 26, 2023 | = | ÷ | = | ÷ | |||||||
| Jan 27, 2022 | = | ÷ | = | ÷ | |||||||
| Jan 28, 2021 | = | ÷ | = | ÷ | |||||||
| Jan 29, 2020 | = | ÷ | = | ÷ | |||||||
| Jan 29, 2019 | = | ÷ | = | ÷ | |||||||
| Jan 29, 2018 | = | ÷ | = | ÷ | |||||||
| Jan 27, 2017 | = | ÷ | = | ÷ | |||||||
| Jan 28, 2016 | = | ÷ | = | ÷ | |||||||
| Jan 29, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 1, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 16, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Netflix Inc. Annual Report.
The price-to-book value (P/BV) ratio exhibits significant fluctuations over the observed period, spanning from 2006 to 2026. Initially, the ratio demonstrates volatility, moving from 6.17 to 3.72, then increasing to 4.47 before rising sharply to 6.03. A substantial increase is then observed, peaking at 42.87, followed by a period of relative stabilization and subsequent increases.
- Early Period (2006-2011)
- From 2006 to 2011, the P/BV ratio experienced considerable variability. It began at 6.17 and decreased to 3.72 in the following year. A moderate increase to 4.47 was noted, followed by a rise to 6.03. The most dramatic change occurred between 2010 and 2011, with the ratio escalating from 17.50 to 42.87. This suggests a significant shift in market perception relative to the company’s book value during this timeframe.
- Mid-Period (2012-2017)
- The period between 2012 and 2017 shows a decrease from 42.87 to 10.68, followed by a gradual increase, reaching 22.89 in 2017. This indicates a cooling off from the peak valuation, followed by renewed investor confidence. The book value per share also increased steadily during this period, partially mitigating the P/BV ratio’s fluctuations.
- Recent Period (2018-2026)
- From 2018 to 2026, the P/BV ratio demonstrates a more moderate range, fluctuating between 27.41 and 16.80. A decrease from 34.48 in 2018 to 10.83 in 2021 is observed, followed by a recovery to 16.80 in 2026. The book value per share continued its upward trajectory, contributing to the overall valuation. The most recent values suggest a stabilization, though still at a relatively high level compared to the earlier years.
The book value per share consistently increased throughout the entire period, rising from 0.06 in 2006 to 6.30 in 2026. This growth in book value appears to have influenced the P/BV ratio, particularly during periods of market correction. The significant peak in the P/BV ratio in 2011 was not sustained, indicating that market enthusiasm eventually moderated. Overall, the P/BV ratio’s trajectory reflects a dynamic valuation influenced by both market sentiment and underlying asset growth.
Comparison to Competitors
Netflix Inc., P/BV, long-term trends, comparison to competitors
| Netflix Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Trade Desk Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Jan 23, 2026 | ||||||
| Jan 27, 2025 | ||||||
| Jan 26, 2024 | ||||||
| Jan 26, 2023 | ||||||
| Jan 27, 2022 | ||||||
| Jan 28, 2021 | ||||||
| Jan 29, 2020 | ||||||
| Jan 29, 2019 | ||||||
| Jan 29, 2018 | ||||||
| Jan 27, 2017 | ||||||
| Jan 28, 2016 | ||||||
| Jan 29, 2015 | ||||||
| Feb 3, 2014 | ||||||
| Feb 1, 2013 | ||||||
| Feb 10, 2012 | ||||||
| Feb 18, 2011 | ||||||
| Feb 22, 2010 | ||||||
| Feb 25, 2009 | ||||||
| Feb 28, 2008 | ||||||
| Feb 28, 2007 | ||||||
| Mar 16, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Media & Entertainment)
Netflix Inc., P/BV, long-term trends, comparison to sector (media & entertainment)
| Netflix Inc. | Media & Entertainment | |
|---|---|---|
| Jan 23, 2026 | ||
| Jan 27, 2025 | ||
| Jan 26, 2024 | ||
| Jan 26, 2023 | ||
| Jan 27, 2022 | ||
| Jan 28, 2021 | ||
| Jan 29, 2020 | ||
| Jan 29, 2019 | ||
| Jan 29, 2018 | ||
| Jan 27, 2017 | ||
| Jan 28, 2016 | ||
| Jan 29, 2015 | ||
| Feb 3, 2014 | ||
| Feb 1, 2013 | ||
| Feb 10, 2012 | ||
| Feb 18, 2011 | ||
| Feb 22, 2010 | ||
| Feb 25, 2009 | ||
| Feb 28, 2008 | ||
| Feb 28, 2007 | ||
| Mar 16, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Communication Services)
Netflix Inc., P/BV, long-term trends, comparison to industry (communication services)
| Netflix Inc. | Communication Services | |
|---|---|---|
| Jan 23, 2026 | ||
| Jan 27, 2025 | ||
| Jan 26, 2024 | ||
| Jan 26, 2023 | ||
| Jan 27, 2022 | ||
| Jan 28, 2021 | ||
| Jan 29, 2020 | ||
| Jan 29, 2019 | ||
| Jan 29, 2018 | ||
| Jan 27, 2017 | ||
| Jan 28, 2016 | ||
| Jan 29, 2015 | ||
| Feb 3, 2014 | ||
| Feb 1, 2013 | ||
| Feb 10, 2012 | ||
| Feb 18, 2011 | ||
| Feb 22, 2010 | ||
| Feb 25, 2009 | ||
| Feb 28, 2008 | ||
| Feb 28, 2007 | ||
| Mar 16, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).