Netflix Inc., current enterprise value calculation

Current share price (P)	$871.32
No. shares of common stock outstanding	427,458,114
US$ in thousands
Common equity (market value)¹	372,452,804)
Add: Preferred stock, $0.001 par value; no shares issued and outstanding (per books)	—)
Total equity	372,452,804)
Add: Short-term debt (per books)	399,844)
Add: Long-term debt (per books)	14,143,417)
Total equity and debt	386,996,065)
Less: Cash and cash equivalents	7,116,913)
Less: Short-term investments	20,973)
Enterprise value (EV)	379,858,179)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 871.32 × 427,458,114

Netflix Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$570.42	$364.87	$386.70	$538.60	$343.16
No. shares of common stock outstanding¹	432,759,584	445,346,776	443,963,107	442,895,261	438,806,649
US$ in thousands
Common equity (market value)³	246,854,722)	162,493,678)	171,680,533)	238,543,388)	150,580,890)
Add: Preferred stock, $0.001 par value; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Total equity	246,854,722)	162,493,678)	171,680,533)	238,543,388)	150,580,890)
Add: Short-term debt (book value)	399,844)	—)	699,823)	499,878)	—)
Add: Long-term debt (book value)	14,143,417)	14,353,076)	14,693,072)	15,809,095)	14,759,260)
Total equity and debt	261,397,983)	176,846,754)	187,073,428)	254,852,361)	165,340,150)
Less: Cash and cash equivalents	7,116,913)	5,147,176)	6,027,804)	8,205,550)	5,018,437)
Less: Short-term investments	20,973)	911,276)	—)	—)	—)
Enterprise value (EV)	254,260,097)	170,788,302)	181,045,624)	246,646,811)	160,321,713)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Netflix Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 570.42 × 432,759,584

Download chart

Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Netflix Inc. EV decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Netflix Inc. (NASDAQ:NFLX)

Enterprise Value (EV)