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Netflix, Inc. - Common Stock 정보 위키백과 회사 개요

05 · wikidata

Netflix, Inc. is an American media company founded on August 29, 1997, by Reed Hastings and Marc Randolph in Scotts Valley, California, and currently based in Los Gatos, California, with production offices and stages at the Los Angeles–based Hollywood studios (formerly old Warner Brothers studios) and the Albuquerque Studios (formerly ABQ studios). It owns and operates an eponymous over-the-top subscription video on-demand service, which showcases acquired and original programming as well as third-party content licensed from other production companies and distributors. Netflix is also the first streaming media company to be a member of the Motion Picture Association.

Netflix initially both sold and rented DVDs by mail, but the sales were eliminated within a year to focus on the DVD rental business. In 2007, Netflix introduced streaming media and video on demand. The company expanded to Canada in 2010, followed by Latin America and the Caribbean. In 2011, the service began to acquire and produce original content, beginning with the crime drama Lilyhammer.

The company has been listed on Nasdaq since 2002 and is ranked 117th on the Fortune 500 and 219th on the Forbes Global 2000. It is the largest entertainment/media company by market capitalization as of 2026 estimated at $450 billion. In 2021, Netflix was ranked as the eighth-most trusted brand globally by Morning Consult. During the 2010s, Netflix was the top-performing stock in the S&P 500 stock market index, with a total return of 3,693%.

The company has two CEOs, Greg Peters and Ted Sarandos, who are split between Los Gatos and Los Angeles, respectively. It also operates international offices in Asia, Europe and Latin America including in Canada, France, Brazil, the Netherlands, India, Italy, Japan, Poland, South Korea, and the United Kingdom. The company has production hubs in Los Angeles, Albuquerque, London, Madrid, Vancouver and Toronto.

History

Launch as a mail-based rental business (1997–2006)

Netflix was founded by Marc Randolph and Reed Hastings on August 29, 1997, in Scotts Valley, California. Hastings, a computer scientist and mathematician, was a cofounder of Pure Software, which was acquired by Rational Software that year for $750 million, the then biggest acquisition in Silicon Valley history. Randolph had worked as a marketing director for Pure Software after Pure Atria acquired a company where Randolph worked. He was previously a co-founder of MicroWarehouse, a computer mail-order company as well as vice president of marketing for Borland. Hastings and Randolph came up with the idea for Netflix while carpooling between their homes in Santa Cruz, California, and Pure Atria's headquarters in Sunnyvale. Patty McCord, later head of human resources at Netflix, was also in the carpool group. Randolph admired Amazon and wanted to find a large category of portable items to sell over the Internet using a similar model. Hastings and Randolph considered and rejected selling and renting VHS as too expensive to stock and too delicate to ship. When they heard about DVDs, first introduced in the United States in early 1997, they tested the concept of selling or renting DVDs by mail by mailing a compact disc to Hastings's house in Santa Cruz. When the disc arrived intact, they decided to enter the $16 billion home video sales and rental industry. Hastings is often quoted saying that he decided to start Netflix after being fined $40 at a Blockbuster store for being late to return a copy of Apollo 13, a claim since repudiated by Randolph. Hastings invested $2.5 million into Netflix from the sale of Pure Atria. Netflix launched as the first DVD rental and sales website with 30 employees and 925 titles available—nearly all DVDs published. Randolph and Hastings met with Jeff Bezos, where Amazon offered to acquire Netflix for between $14 and $16 million. Fearing competition from Amazon, Randolph at first thought the offer was fair, but Hastings, who owned 70% of the company, turned it down on the plane ride home.

Initially, Netflix offered a per-rental model for each DVD but introduced a monthly subscription concept in September 1999. The per-rental model was dropped by early 2000, allowing the company to focus on the business model of flat-fee unlimited rentals without due dates, late fees, shipping and handling fees, or per-title rental fees. In September 2000, during the dot-com bubble, while Netflix was suffering losses, Hastings and Randolph offered to sell the company to Blockbuster for $50 million. John Antioco, CEO of Blockbuster, thought the offer was a joke and declined, saying, "The dot-com hysteria is completely overblown." While Netflix experienced fast growth in early 2001, the continued effects of the dot-com bubble collapse and the September 11 attacks caused the company to hold off plans for its initial public offering (IPO) and to lay off one-third of its 120 employees.

DVD players were a popular gift for holiday sales in late 2001, and demand for DVD subscription services were "growing like crazy", according to chief talent officer Patty McCord. The company went public on NASDAQ under the ticker symbol NFLX on May 29, 2002, selling 5.5 million shares of common stock at US$15.00 per share. In 2003, Netflix was issued a patent by the U.S. Patent and Trademark Office to cover its subscription rental service and several extensions. Netflix posted its first profit in 2003, earning $6.5 million on revenues of $272 million; by 2004, profit had increased to $49 million on over $500 million in revenues. In 2005, 35,000 different films were available, and Netflix shipped 1 million DVDs out every day.

In 2004, Blockbuster introduced a DVD rental service, which not only allowed users to check out titles through online sites but allowed for them to return them at brick and-mortar stores. By 2006, Blockbuster's service reached two million users, and while trailing Netflix's subscriber count, was drawing business away from Netflix. Netflix lowered fees in 2007. While it was an urban legend that Netflix ultimately "killed" Blockbuster in the DVD rental market, Blockbuster's debt load and internal disagreements hurt the company.

On April 4, 2006, Netflix filed a patent infringement lawsuit in which it demanded a jury trial in the U.S. District Court for the Northern District of California, alleging that Blockbuster's online DVD rental subscription program violated two patents held by Netflix. The first cause of action alleged Blockbuster's infringement of copying the "dynamic queue" of DVDs available for each customer, Netflix's method of using the ranked preferences in the queue to send DVDs to subscribers, and Netflix's method permitting the queue to be updated and reordered. The second cause of action alleged infringement of the subscription rental service as well as Netflix's methods of communication and delivery. The companies settled their dispute on June 25, 2007; terms were not disclosed.

On October 1, 2006, Netflix announced the Netflix Prize, $1,000,000 to the first developer of a video recommendation algorithm that could beat its existing algorithm Cinematch, at predicting customer ratings by more than 10%. On September 21, 2009, it awarded the $1,000,000 prize to team "BellKor's Pragmatic Chaos". Cinematch, launched in 2000, is a recommendation system that recommended movies to its users, many of which they might not ever had heard of before.

Through its division Red Envelope Entertainment, Netflix licensed and distributed independent films such as Born into Brothels and Sherrybaby. In late 2006, Red Envelope Entertainment also expanded into producing original content with filmmakers such as John Waters. Netflix closed Red Envelope Entertainment in 2008.

Transition to streaming services (2007–2012)

In January 2007, the company launched a streaming media service, introducing video on demand via the Internet. However, at that time it only had 1,000 films available for streaming, compared to 70,000 available on DVD. The company had for some time considered offering movies online, but it was only in the mid-2000s that data speeds and bandwidth costs had improved sufficiently to allow customers to download movies from the net. The original idea was a "Netflix box" that could download movies overnight, and be ready to watch the next day. By 2005, Netflix had acquired movie rights and designed the box and service. But after witnessing how popular streaming services such as YouTube were despite the lack of high-definition content, the concept of using a hardware device was scrapped and replaced with a streaming concept.

In February 2007, Netflix delivered its billionth DVD, a copy of Babel to a customer in Texas. In April 2007, Netflix recruited ReplayTV founder Anthony Wood, to build a "Netflix Player" that would allow streaming content to be played directly on a television rather than a desktop or laptop. Hastings eventually shut down the project to help encourage other hardware manufacturers to include built-in Netflix support, which would be spun off as the digital media player product Roku.

In January 2008, all rental-disc subscribers became entitled to unlimited streaming at no additional cost. This change came in a response to the introduction of Hulu and to Apple's new video-rental services. In August 2008, the Netflix database was corrupted and the company was not able to ship DVDs to customers for 3 days, leading the company to move all its data to the Amazon Web Services cloud. In November 2008, Netflix began offering subscribers rentals on Blu-ray and discontinued its sale of used DVDs. In 2009, Netflix streams overtook DVD shipments.

On January 6, 2010, Netflix agreed with Warner Bros. to delay new release rentals 28 days prior to retail, in an attempt to help studios sell physical copies, and similar deals involving Universal Pictures and 20th Century Fox were reached on April 9. In July 2010, Netflix signed a deal to stream movies of Relativity Media. In August 2010, Netflix reached a five-year deal worth nearly $1 billion to stream films from Paramount, Lionsgate and Metro-Goldwyn-Mayer. The deal increased Netflix's annual spending fees, adding roughly $200 million per year. It spent $117 million in the first six months of 2010 on streaming, up from $31 million in 2009. On September 22, 2010, Netflix launched in Canada, its first international market. In November 2010, Netflix began offering a standalone streaming service separate from DVD rentals.

In 2010, Netflix acquired the rights to Breaking Bad, produced by Sony Pictures Television, after the show's third season, at a point where original broadcaster AMC had expressed the possibility of cancelling the show. Sony pushed Netflix to release Breaking Bad in time for the fourth season, which as a result greatly expanded the show's audience on AMC due to new viewers binging on the Netflix past episodes, and doubling the viewership by the time of the fifth season. Breaking Bad is considered the first such show to have this "Netflix effect".

In January 2011, Netflix announced agreements with several manufacturers to include branded Netflix buttons on the remote controls of devices compatible with the service, such as Blu-ray players. By May 2011, Netflix had become the largest source of Internet streaming traffic in North America, accounting for 30% of traffic during peak hours.

On July 12, 2011, Netflix announced that it would separate its existing subscription plans into two separate plans: one covering the streaming and the other DVD rental services. The cost for streaming would be $7.99 per month, while DVD rental would start at the same price. On September 11, 2011, Netflix expanded to 43 countries in Latin America. On September 18, 2011, Netflix announced its intentions to rebrand and restructure its DVD home media rental service as an independent subsidiary called Qwikster, separating DVD rental and streaming services. On September 26, 2011, Netflix announced a content deal with DreamWorks Animation. On October 10, 2011, Netflix announced that it would retain its DVD service under the name Netflix and that its streaming and DVD-rental plans would remain branded together.

On January 9, 2012, Netflix started its expansion to Europe, launching in the United Kingdom and Ireland. In February 2012, Netflix reached a multi-year agreement with The Weinstein Company. In March 2012, Netflix acquired the domain name DVD.com. By 2016, Netflix rebranded its DVD-by-mail service under the name DVD.com, A Netflix Company. In April 2012, Netflix filed with the Federal Election Commission (FEC) to form a political action committee (PAC) called FLIXPAC. Netflix spokesperson Joris Evers tweeted that the intent was to "engage on issues like net neutrality, bandwidth caps, UBB and VPPA". In June 2012, Netflix signed a deal with Open Road Films.

On August 23, 2012, Netflix and The Weinstein Company signed a multi-year output deal for RADiUS-TWC films. In August 2010, Epix signed a five-year streaming deal with Netflix. For the initial two years of this agreement, first-run and back-catalog content from Epix was exclusive to Netflix. Epix films came to Netflix 90 days after premiering on Epix. These included films from Paramount, Metro-Goldwyn-Mayer and Lionsgate.

On October 18, 2012, Netflix launched in Denmark, Finland, Norway and Sweden. On December 4, 2012, Netflix and Disney announced an exclusive multi-year agreement for first-run United States subscription television rights to Walt Disney Studios' animated and live-action films, with classics such as Dumbo, Alice in Wonderland and Pocahontas available immediately and others available on Netflix beginning in 2016. Direct-to-video releases were made available in 2013.

On January 14, 2013, Netflix signed an agreement with Time Warner's Turner Broadcasting System and Warner Bros. Television to distribute Cartoon Network, Warner Bros. Animation, and Adult Swim content, as well as TNT's Dallas, beginning in March 2013. The rights to these programs were given to Netflix shortly after deals with Viacom to stream Nickelodeon and Nick Jr. Channel programs expired.

For cost reasons, Netflix stated that it would limit its expansion in 2013, adding only one new market—the Netherlands—in September of that year. This expanded its availability to 40 territories.

Development of original programming (2013–2017)

Netflix began efforts to develop original content in 2011; in March, Netflix made a straight-to-series order for the Kevin Spacey-led political drama House of Cards from MRC. Beating out other U.S. cable networks, it marked the first first-run television series to be specifically commissioned by the service. In November 2011, Netflix then ordered Orange is the New Black, a comedy-drama adapted from Piper Kerman's memoir of the same name, and a new season of the cancelled Fox sitcom Arrested Development. Netflix also acquired U.S. rights to the Norwegian drama Lilyhammer; following its television premiere on Norway's NRK1 on January 25, 2012, the entirety of its first season was released by Netflix on February 8—a notable departure from the broadcast television model of premiering episodes on a weekly basis.

House of Cards was released by Netflix on February 1, 2013, marketed as the first "Netflix Original" production. Later that month, Netflix announced an agreement with DreamWorks Animation to commission children's television series based on its properties, beginning with Turbo: F.A.S.T., a spin-off of its film Turbo. Orange is the New Black would premiere in July 2013; Netflix stated that Orange is the New Black had been its most-watched original series so far, with all of them having "an audience comparable with successful shows on cable and broadcast TV."

On March 13, 2013, Netflix added a Facebook sharing feature, letting United States subscribers access "Watched by your friends" and "Friends' Favorites" by agreeing. This was not legal until the Video Privacy Protection Act was modified in early 2013. On August 1, 2013, Netflix reintroduced the "Profiles" feature that permits accounts to accommodate up to five user profiles.

In November 2013, Marvel Television and ABC Studios announced Netflix had ordered a slate of four television series based on the Marvel Comics characters Daredevil, Jessica Jones, Iron Fist and Luke Cage. Each of the four series received an initial order of 13 episodes, and Netflix also ordered a Defenders miniseries that would tie them together. Daredevil and Jessica Jones premiered in 2015. The Luke Cage series premiered on September 30, 2016, followed by Iron Fist on March 17, 2017, and The Defenders on August 18, 2017. Marvel owner Disney later entered into other content agreements with Netflix, including acquiring its animated Star Wars series Star Wars: The Clone Wars, and a new sixth season.

In February 2014, Netflix began to enter into agreements with U.S. internet service providers, beginning with Comcast (whose customers had repeatedly complained of frequent buffering when streaming Netflix), to provide the service a direct connection to their networks. In April 2014, Netflix signed Arrested Development creator Mitchell Hurwitz and his production firm The Hurwitz Company to a multi-year deal to create original projects for the service. In May 2014, Netflix acquired streaming rights to films produced by Sony Pictures Animation. It also quietly began to introduce an updated logo, with a flatter appearance and updated typography.

In September 2014, Netflix expanded into six new European markets, including Austria, Belgium, France, Germany, Luxembourg, and Switzerland. On September 10, 2014, Netflix participated in Internet Slowdown Day by deliberately slowing down its speed in support of net neutrality regulations in the United States. In October 2014, Netflix announced a four-film deal with Adam Sandler and his Happy Madison Productions.

In April 2015, following the launch of Daredevil, Netflix director of content operations Tracy Wright announced that Netflix had added support for audio description (a narration track with aural descriptions of key visual elements for the blind or visually impaired), and had begun to work with its partners to add descriptions to its other original series over time. The following year, as part of a settlement with the American Council of the Blind, Netflix agreed to provide descriptions for its original series within 30 days of their premiere, and add screen reader support and the ability to browse content by availability of descriptions.

In March 2015, Netflix expanded to Australia and New Zealand. In September 2015, Netflix launched in Japan, its first country in Asia. In October 2015, Netflix launched in Italy, Portugal, and Spain.

In January 2016, at the Consumer Electronics Show, Netflix announced a major international expansion of its service into 130 additional countries. It then had become available worldwide except China, Syria, North Korea, Kosovo and Crimea. In May 2016, Netflix created a tool called Fast.com to determine the speed of an Internet connection. It received praise for being "simple" and "easy to use", and does not include online advertising, unlike competitors. On November 30, 2016, Netflix launched an offline playback feature, allowing users of the Netflix mobile apps on Android or iOS to cache content on their devices in standard or high quality for viewing offline, without an Internet connection.

In 2016, Netflix released an estimated 126 original series or films, more than any other network or cable channel. In April 2016, Hastings stated that the company planned to expand its in-house, Los Angeles-based Netflix Studios to grow its output; Hastings ruled out any potential acquisitions of existing studios, stating that "It's been 15 years we've been public and 20 years existing, and we've done no [mergers and acquisitions]. So I think that probably speaks for itself."

In February 2017, Netflix signed a music publishing deal with BMG Rights Management, whereby BMG will oversee rights outside of the United States for music associated with Netflix original content. Netflix continues to handle these tasks in-house in the United States. On April 25, 2017, Netflix signed a licensing deal with IQiyi, a Chinese video streaming platform owned by Baidu, to allow selected Netflix original content to be distributed in China on the platform.

On August 7, 2017, Netflix acquired Millarworld, the creator-owned publishing company of comic book writer Mark Millar. The purchase marked the first corporate acquisition to have been made by Netflix. On August 14, 2017, Netflix entered into an exclusive development deal with Shonda Rhimes and her production company Shondaland.

In September 2017, Netflix announced it would offer its low-broadband mobile technology to airlines to provide better in-flight Wi-Fi so that passengers can watch movies on Netflix while on planes.

In September 2017, Minister of Heritage Mélanie Joly announced that Netflix had agreed to make a CA$500 million (US$400 million) investment over the next five years in producing content in Canada. The company denied that the deal was intended to result in a tax break. Netflix realized this goal by December 2018.

In October 2017, Netflix iterated a goal of having half of its library consist of original content by 2019, announcing a plan to invest $8 billion on original content in 2018. There will be a particular focus on films and anime through this investment, with a plan to produce 80 original films and 30 anime series. In October 2017, Netflix introduced the "Skip Intro" feature which allows customers to skip the intros to shows on its platform through a variety of techniques including manual reviewing, audio tagging, and machine learning.

In November 2017, Netflix signed an exclusive multi-year deal with Orange Is the New Black creator Jenji Kohan. In November 2017, Netflix withdrew from co-hosting a party at the 75th Golden Globe Awards with The Weinstein Company due to the Harvey Weinstein sexual abuse cases.

Expansion into international productions (2017–2020)

In November 2017, Netflix announced that it would be making its first original Colombian series, to be executive produced by Ciro Guerra. In December 2017, Netflix signed Stranger Things director-producer Shawn Levy and his production company 21 Laps Entertainment to what sources say is a four-year deal. In 2017, Netflix invested in distributing exclusive stand-up comedy specials from Dave Chappelle, Louis C.K., Chris Rock, Jim Gaffigan, Bill Burr and Jerry Seinfeld.

In February 2018, Netflix acquired the rights to The Cloverfield Paradox from Paramount Pictures for $50 million and launched on its service on February 4, 2018, shortly after airing its first trailer during Super Bowl LII. Analysts believed that Netflix's purchase of the film helped to make the film instantly profitable for Paramount compared to a more traditional theatrical release, while Netflix benefited from the surprise reveal. Other films acquired by Netflix include international distribution for Paramount's Annihilation and Universal's News of the World and worldwide distribution of Universal's Extinction, Warner Bros.' Mowgli: Legend of the Jungle, Paramount's The Lovebirds and 20th Century Studios' The Woman in the Window. In March, the service ordered Formula 1: Drive to Survive, a racing docuseries following teams in the Formula One world championship.

In March 2018, Sky UK announced an agreement with Netflix to integrate Netflix's subscription VOD offering into its pay-TV service. Customers with its high-end Sky Q set-top box and service will be able to see Netflix titles alongside their regular Sky channels. In October 2022, Netflix revealed that its annual revenue from the UK subscribers in 2021 was £1.4bn.

In April 2018, Netflix pulled out of the Cannes Film Festival, in response to new rules requiring competition films to have been released in French theaters. The Cannes premiere of Okja in 2017 was controversial, and led to discussions over the appropriateness of films with simultaneous digital releases being screened at an event showcasing theatrical film; audience members also booed the Netflix production logo at the screening. Netflix's attempts to negotiate to allow a limited release in France were curtailed by organizers, as well as French cultural exception law—where theatrically screened films are legally forbidden from being made available via video-on-demand services until at least 36 months after their release. Besides traditional Hollywood markets as well as from partners like the BBC, Sarandos said the company also looking to expand investments in non-traditional foreign markets due to the growth of viewers outside of North America. At the time, this included programs such as Dark from Germany, Ingobernable from Mexico and 3% from Brazil.

On May 22, 2018, former president, Barack Obama, and his wife, Michelle Obama, signed a deal to produce docu-series, documentaries and features for Netflix under the Obamas' newly formed production company, Higher Ground Productions.

In June 2018, Netflix announced a partnership with Telltale Games to port its adventure games to the service in a streaming video format, allowing simple controls through a television remote. The first game, Minecraft: Story Mode, was released in November 2018. In July 2018, Netflix earned the most Emmy nominations of any network for the first time with 112 nods. On August 27, 2018, the company signed a five-year exclusive overall deal with international best–selling author Harlan Coben. On the same day, the company inked an overall deal with Gravity Falls creator Alex Hirsch. In October 2018, Netflix paid under $30 million to acquire Albuquerque Studios (ABQ Studios), a $91 million film and TV production facility with eight sound stages in Albuquerque, New Mexico, for its first U.S. production hub, pledging to spend over $1 billion over the next decade to create one of the largest film studios in North America. In November 2018, Paramount Pictures signed a multi-picture film deal with Netflix, making Paramount the first major film studio to sign a deal with Netflix. A sequel to AwesomenessTV's To All the Boys I've Loved Before was released on Netflix under the title To All the Boys: P.S. I Still Love You as part of the agreement. In December 2018, the company announced a partnership with ESPN Films on a television documentary chronicling Michael Jordan and the 1997–98 Chicago Bulls season titled The Last Dance. It was released internationally on Netflix and became available for streaming in the United States three months after a broadcast airing on ESPN.

In January 2019, Sex Education made its debut as a Netflix original series with much critical acclaim. On January 22, 2019, Netflix sought and was approved for membership into the Motion Picture Association of America (MPAA), as the first streaming service to become a member of the association. In February 2019, The Haunting creator Mike Flanagan joined frequent collaborator Trevor Macy as a partner in Intrepid Pictures and the duo signed an exclusive overall deal with Netflix to produce television content. On May 9, 2019, Netflix contracted with Dark Horse Entertainment to make television series and films based on comics from Dark Horse Comics. In July 2019, Netflix announced that it would be opening a hub at Shepperton Studios as part of a deal with Pinewood Group. In early-August 2019, Netflix negotiated an exclusive multi-year film and television deal with Game of Thrones creators and showrunners David Benioff and D.B. Weiss. The first Netflix production created by Benioff and Weiss was planned as an adaptation of Liu Cixin's science fiction novel The Three-Body Problem, part of the Remembrance of Earth's Past trilogy. On September 30, 2019, in addition to renewing Stranger Things for a fourth season, Netflix signed The Duffer Brothers to an overall deal covering future film and television projects for the service.

On November 13, 2019, Netflix and Nickelodeon entered into a multi-year agreement to produce several original animated feature films and television series based on Nickelodeon's library of characters. This agreement expanded on their existing relationship, in which new specials based on the past Nickelodeon series Invader Zim and Rocko's Modern Life (Invader Zim: Enter the Florpus and Rocko's Modern Life: Static Cling respectively) were released by Netflix. Other new projects planned under the team-up include a music project featuring Squidward Tentacles from the animated television series SpongeBob SquarePants, and films based on The Loud House and Rise of the Teenage Mutant Ninja Turtles. The agreement with Disney ended in 2019 due to the launch of Disney+, with its Marvel productions moving exclusively to the service in 2022.

In November 2019, Netflix announced that it had signed a long-term lease to save the Paris Theatre, the last single-screen movie theater in Manhattan. The company oversaw several renovations at the theater, including new seats and a concession stand.

In January 2020, Netflix announced a new four-film deal with Adam Sandler worth up to $275 million. On February 25, 2020, Netflix formed partnerships with six Japanese creators to produce an original Japanese anime project. This partnership includes manga creator group CLAMP, mangaka Shin Kibayashi, mangaka Yasuo Ohtagaki, novelist and film director Otsuichi, novelist Tow Ubukata, and manga creator Mari Yamazaki. On March 4, 2020, ViacomCBS announced that it will be producing two spin-off films based on SpongeBob SquarePants for Netflix. On April 7, 2020, Peter Chernin's Chernin Entertainment made a multi-year first-look deal with Netflix to make films. On May 29, 2020, Netflix announced the acquisition of Grauman's Egyptian Theatre from the American Cinematheque to use as a special events venue. In July 2020, Netflix appointed Sarandos as co-CEO. In July 2020, Netflix invested in Black Mirror creators Charlie Brooker and Annabel Jones' new production outfit Broke And Bones.

Expansion into gaming, end of DVDs, etc. (2021–2025)

In March 2021, Netflix earned the most Academy Award nominations of any studio, with 36. Netflix won seven Academy Awards, which was the most by any studio. Later that year, Netflix also won more Emmys than any other network or studio with 44 wins, tying the record for most Emmys won in a single year set by CBS in 1974. On April 8, 2021, Sony Pictures Entertainment announced an agreement for Netflix to hold the U.S. pay television window rights to its releases beginning in 2022, replacing Starz and expanding upon an existing agreement with Sony Pictures Animation. The agreement also includes a first-look deal for any future direct-to-streaming films being produced by Sony Pictures, with Netflix required to commit to a minimum number of them. On April 27, 2021, Netflix announced that it was opening its first Canadian headquarters in Toronto. The company also announced that it would open an office in Sweden as well as Rome and Istanbul to increase its original content in those regions.

In early-June, Netflix hosted a first-ever week-long virtual event called "Geeked Week", where it shared exclusive news, new trailers, cast appearances and more about upcoming genre titles like The Witcher, The Cuphead Show!, and The Sandman.

In July 2021, Netflix hired Mike Verdu, a former executive from Electronic Arts and Facebook, as vice president of game development, along with plans to add video games by 2022. Netflix announced plans to release mobile games which would be included in subscribers' plans to the service. Trial offerings were first launched for Netflix users in Poland in August 2021, offering premium mobile games based on Stranger Things including Stranger Things 3: The Game, for free to subscribers through the Netflix mobile app.

Also in September, the company announced The Queen's Ball: A Bridgerton Experience, launching in 2022 in Los Angeles, Chicago, Montreal, and Washington, D.C.

On September 20, 2021, Netflix signed a long-term lease with Aviva Investors to operate and expand the Longcross Studios in Surrey, UK. On September 21, 2021, Netflix announced that it would acquire the Roald Dahl Story Company, which manages the rights to Roald Dahl's stories and characters, for an undisclosed price and would operate it as an independent company. The company acquired Night School Studio, an independent video game developer, on September 28, 2021. Netflix officially launched mobile games on November 2, 2021, for Android users around the world. Through the app, subscribers had free access to five games, including two previously made Stranger Things titles. Netflix intends to add more games to this service over time. On November 9, the collection launched for iOS. Some games in the collection require an active internet connection to play, while others will be available offline. Netflix Kids' accounts will not have games available.

On October 13, 2021, Netflix announced the launch of the Netflix Book Club, where readers will hear about new books, films, and series adaptations and have exclusive access to each book's adaptation process. Netflix will partner with Starbucks to bring the book club to life via a social series called But Have You Read the Book?. Uzo Aduba will serve as the inaugural host of the series and announce monthly book selections set to be adapted by the streamer. Aduba will also speak with the cast, creators, and authors about the book adaptation process over a cup of coffee at Starbucks. Through October 2021, Netflix commonly reported viewership for its programming based on the number of viewers or households that watched a show in a given period (such as the first 28 days from its premiere) for at least two minutes. On the announcement of its quarterly earnings in October 2021, the company stated that it would switch its viewership metrics to measuring the number of hours that a show was watched, including rewatches, which the company said was closer to the measurements used in linear broadcast television, and thus "our members and the industry can better measure success in the streaming world." On November 16, 2021, Netflix announced the launch of "Top10 on Netflix.com", a new website with weekly global and country lists of the most popular titles on their service based on their new viewership metrics.

On November 22, 2021, Netflix announced that it would acquire Scanline VFX, the visual effects and animation company behind Cowboy Bebop and Stranger Things. On the same day, Roberto Patino signed a deal with Netflix and established his own production banner, Analog Inc., in partnership with the company. Patino's first project under the deal is a series adaptation of Image Comics' Nocterra. On December 6, 2021, Netflix and Stage 32 announced that they have teamed up the workshops at the Creating Content for the Global Marketplace program. On December 7, 2021, Netflix partnered with IllumiNative, a woman-led non-profit organization, for the Indigenous Producers Training Program.

On December 9, 2021, Netflix announced the launch of "Tudum", an official companion website that offers news, exclusive interviews, and behind-the-scenes videos for its original television shows and films. On December 13, 2021, Netflix signed a multi-year overall deal with Kalinda Vazquez. On December 16, 2021, Netflix signed a multi-year creative partnership with Spike Lee and his production company 40 Acres and a Mule Filmworks to develop film and television projects. In December 2021, former Netflix engineer Sung Mo Jun was sentenced to 2 years in prison for an insider trading scheme where he leaked subscriber numbers in advance of official releases.

In compliance with the EU Audiovisual Media Services Directive and its implementation in France, Netflix reached commitments with French broadcasting authorities and film guilds, as required by law, to invest a specific amount of its annual revenue into original French films and series. These films must be theatrically released and would not be allowed to be carried on Netflix until 15 months after their release.

The company announced plans to acquire Next Games in March 2022 for €65 million as part of Netflix's expansions into gaming. Next Games had developed the mobile title Stranger Things: Puzzle Tales as well as two The Walking Dead mobile games. Later in the month, Netflix also acquired the Texas-based mobile game developer, Boss Fight Entertainment, for an undisclosed sum.

Following the 2022 Russian invasion of Ukraine, Netflix suspended its operations and future projects in Russia. It also announced that it would not comply with a proposed directive by Roskomnadzor requiring all internet streaming services with more than 100,000 subscribers to integrate the major free-to-air channels (which are primarily state-owned). A month later, ex-Russian subscribers filed a class action lawsuit against Netflix.

At the end of Q1 2022, Netflix announced a decline in subscribers, with almost 200,000 fewer viewers than at the end of the previous year. Netflix stated that 100 million households globally were sharing passwords to their account with others, and that Canada and the United States accounted for 30 million of them. Following these announcements, Netflix's stock price fell by 35 percent. By June 2022, Netflix had laid off 450 full-time and contract employees as part of the company's plan to trim costs amid lower than expected subscriber growth. The layoffs represented approximately 2 percent of the workforce and spread across the company globally.

On April 28, 2022, the company launched its inaugural Netflix Is a Joke comedy festival, featuring more than 250 shows over 12 nights at 30-plus locations across Los Angeles, including the first-ever stand-up show at Dodger Stadium.

On July 19, 2022, Netflix announced plans to acquire Australian animation studio Animal Logic.

On September 5, 2022, Netflix opened an office in Warsaw, Poland responsible for the service's operations in 28 markets in Central and Eastern Europe.

On October 4, 2022, Netflix have signed a creative partnership with Andrea Berloff and John Gatins.

On October 11, 2022, Netflix signed up to the Broadcasters' Audience Research Board for external measurement of viewership in the UK.

On October 12, 2022, Netflix signed to build a production complex at Fort Monmouth in Eatontown, New Jersey.

On October 18, 2022, Netflix began exploring a cloud gaming offering and opened a new gaming studio in Southern California.

On January 10, 2023, Netflix announced plans to open an engineering hub in its Warsaw office. The hub is to provide Netflix's creative partners with software solutions in the production of films and series.

On April 18, 2023, Netflix announced that it would discontinue their DVD-by-mail service on September 29.

Netflix reworked its viewership metrics again in June 2023. Viewership of shows were measured during the first 91 days of availability, instead of the first 28 days, and now are based on the total viewership hours divided by the total hours of the show itself. This provided more equal considerations for shorter shows and movies compared to longer ones.

In August 2023, the company announced Netflix Stories, a collection of interactive narrative games from Netflix series and films such as Love is Blind, Money Heist and Virgin River.

Netflix discontinued its DVD mailing service as planned on September 29, 2023, in favor of its streaming business. Users of the service were able to keep the DVDs that they had received. Over its lifetime the service had sent out over 5 billion shipments.

In October 2023, Eunice Kim was promoted to Chief Product Officer and Elizabeth Stone was promoted to Chief Technology Officer. That same month, Netflix and Skydance Media entered a multi-year pact to develop and produce animated films, ending Skydance's partnership with Apple. First one under the deal was Spellbound, which premiered in 2024. Netflix would also take over distribution of preexisting Skydance Animation titles, including Ray Gunn and Swapped.

In April 2024, Netflix announced that starting in 2025, it would stop regularly reporting subscriber numbers.

In November 2024, Netflix offices in Paris and Amsterdam have been raided by the French and Dutch authorities as part of an investigation into tax fraud. The company is also under investigation for tax filings for 2019, 2020 and 2021.

The service began venturing into live sports broadcasting with the Jake Paul vs. Mike Tyson boxing match in November 2024, followed by a pair of National Football League games on Christmas Day. In January 2025, Netflix began a global broadcasting agreement with professional wrestling company WWE, under which its weekly series WWE Raw moved to Netflix worldwide, as well as rights outside of the United States to its library content, main roster live events, and all three of its main weekly programs.

In March 2026, Netflix announced its acquisition of Ben Affleck's artificial intelligence startup InterPositive, which was developing a generative AI model for use in filmmaking, trained initially on specially-filmed footage and designed to "understand visual logic and editorial consistency, while preserving cinematic rules under real-world production challenges". Affleck, Matt Damon, and Gerry Cardinale's studio Artists Equity also recently agreed to a first-look deal with Netflix.

Attempted acquisition of Warner Bros. (2025–2026)

On October 31, 2025, Netflix, Inc. was reported to be actively exploring a bid for the studios and streaming assets of Warner Bros. Discovery. According to the report, Netflix retained investment bank Moelis & Co. to evaluate a potential offer and had been granted access to Warner Bros. Discovery's financial data room as part of its preparatory due-diligence. Netflix stressed that it remains "predominantly focused on growing organically" and is not interested in owning legacy cable networks such as CNN, TBS and TNT.

Netflix had previously considered buying other companies such as 20th Century Fox (now 20th Century Studios), Paramount, The Walt Disney Company, and even Electronic Arts. But the price and the fear of a possible shareholder reaction prevented that.

On December 4, 2025, Netflix won the bidding war for Warner Bros. Discovery, to be followed by exclusive talks to finalize a deal. On December 5, Netflix announced a proposed agreement to acquire Warner Bros. Discovery's "Streaming and Studios" businesses for $72 billion, with a total asset value of $82.7 billion. As part of the deal, Netflix would acquire the Warner Bros. division, including its film, television and video game studios, HBO/HBO Max and their respective libraries, DC Entertainment/DC Studios and WBD's distribution, publishing and licensing divisions. The acquisition would have excluded the company's "Global Linear Networks" division (aside from Turner Classic Movies, which is aligned with the Warner Bros. film studio), which would have been divested as the separate company Discovery Global.

Paramount Skydance entered a hostile bid for the entirety of WBD at $30 per share, in an all-cash offer higher than Netflix's $27.75 per share offer for just the studios division; Paramount Skydance assessed its offer as having fewer regulatory hurdles than the Netflix offer. WBD rejected the offer due to concerns over its credibility, believing that it was inferior to Netflix's offer. On January 20, 2026, Netflix amended its own offer to an all-cash offer; WBD shareholders were expected to vote on the deal by April. On February 26, 2026, WBD agreed to a competing bid by Paramount Skydance at $31 per-share, valuing the company at approximately $111 billion. Netflix subsequently backed out, with its co-CEOs issuing a statement that its offer was "no longer financially attractive." Netflix received a $2.8 billion breakup fee from Paramount Skydance, and later announced that it would add $25 billion to its share buyback program.

Corporate affairs

Historical financials and membership growth

Board of directors

As of November 2024, the company's board consisted of the following directors:

Rich Barton (co-founder of Zillow)

Mathias Döpfner (CEO of Axel Springer SE)

Timothy M. Haley (co-founder of Redpoint Ventures)

Jay Hoag (chairman of Netflix, founding partner at TCV)

Leslie Kilgore (former Chief Marketing Officer of Netlix)

Strive Masiyiwa (chairman and founder of Econet)

Ann Mather (former Executive Vice President and Chief Financial Officer of Pixar)

Greg Peters (co-CEO of Netflix)

Susan Rice (former US National Security Advisor and ambassador to the United Nations)

Ted Sarandos (co-CEO of Netflix)

Brad Smith (vice chairman of Microsoft)

Anne Sweeney (former President of the Disney–ABC Television Group)

Corporate culture

Netflix grants all employees extremely broad discretion with respect to business decisions, expenses, and vacation—but in return expects consistently high performance, as enforced by what is known as the "keeper test". All supervisors are expected to constantly ask themselves if they would fight to keep an employee. If the answer is no, then the employee is dismissed. A slide from an internal presentation on Netflix's corporate culture summed up the test as: "Adequate performance gets a generous severance package." Such packages reportedly range from four months' salary in the United States to as much as six months in the Netherlands.

The company offers unlimited vacation time for salaried workers and allows employees to take any amount of their paychecks in stock options.

About the culture that results from applying such a demanding test, Hastings has said that "You gotta earn your job every year at Netflix," and, "There's no question it's a tough place ... There's no question it's not for everyone." Hastings has drawn an analogy to athletics: professional athletes lack long-term job security because an injury could end their career in any particular game, but they learn to put aside their fear of that constant risk and focus on working with great colleagues in the current moment.

Environmental impact

According to a study conducted by the International Energy Agency, streaming a 30-minute show on Netflix in 2019 released around 0.018 kg CO2.

In March 2021, Netflix announced that it would work to reach net zero greenhouse gas emissions by the end of 2022, while investing in programs to preserve or restore ecosystems. The company stated that it would cut emissions from its operations and electricity use by 45 percent by 2030. Due to the COVID-19 pandemic and lack of content production, Netflix had a 14 percent drop in emissions in 2020.

출처: 위키백과 (영어), CC BY-SA 4.0 · 위키백과에서 보기 ↗

Wikidata ↗

섹터Communication Services 산업Media 직원16,000 국가US

10년 성과 매출, 순이익, 마진 및 EPS 추세

06
매출$45.18B
2016-12-31 → 2025-12-31
EPS$2.53
2016-12-31 → 2025-12-31
잉여현금흐름$9.46B
2016-12-31 → 2025-12-31
순이익률28.2%
2016-12-31 → 2025-12-31
가치 평가 및 비율 07–12

가치 평가 P/E, P/S, P/B, EV/EBITDA 비율 — 주식이 비싼가요, 싼가요?

지표 5년 추세 NFLX 5년 평균 동종업계 중앙값 결론
P/E (TTM) -20.95년 평균 ≈195.2 ≈195.2 · ·
P/S (TTM) 5.95년 평균 ≈7.6 ≈7.6 1.9 고평가
P/B (MRQ) 9.55년 평균 ≈12.7 ≈12.7 7.3 고평가
EV / EBITDA (TTM) 19.85년 평균 ≈32.4 ≈32.4 · ·
주가 / FCF (TTM) 25.65년 평균 ≈-363.6 ≈-363.6 · ·
주가 / 현금 흐름 (TTM) 23.95년 평균 ≈173.2 ≈173.2 24.0 고평가
EV / 매출 (TTM) 6.05년 평균 ≈7.8 ≈7.8 · ·
EV / FCF (TTM) 26.15년 평균 ≈-376.3 ≈-376.3 · ·
주가 / 유형 장부 가치 (MRQ) -77.65년 평균 ≈11.1 ≈11.1 · ·

동종 기업 중앙값은 지표별로 표준화된 기준으로 계산되며, 이 주식에 표시된 TTM/MRQ 기준과 항상 일치하지 않을 수 있습니다.

가치 · ≈ 5년 평균 · 산업 중앙값 · 중앙값 대비 평가

실적 기록 EPS 실제 vs 예상, 서프라이즈 %, 달성률, 다음 실적 발표일

14
평균 서프라이즈 -2.6%
다음 실적 10월 19, 2026
기간보고서EPS ActualEPS 예상서프라이즈
2026년 6월 30일 7월 16, 2026 $0.80 $0.80 -0.52%
2026년 3월 31일 $0.70 $0.78 -10.2%
2025년 12월 31일 $0.56 $0.56 -0.50%
2025년 9월 30일 $0.59 $0.71 -17.4%
2025년 6월 30일 $0.72 $0.72 -0.40%
2025년 3월 31일 $0.66 $0.58 13.4%

전체 기본 지표 연도별 모든 지표 — 손익계산서, 대차대조표, 현금흐름

15
손익계산서 16
지표 추세 202520242023202220212020201920182017201620152014
Revenue $45.18B$39.00B$33.72B$31.62B$29.70B$25.00B$20.16B$15.79B$11.69B$8.83B$6.78B$5.50B
Cost of Revenue $23.28B$21.04B$19.72B$19.17B$17.33B$15.28B$12.44B$9.97B$8.03B$6.26B$4.59B$3.75B
R&D Expense $3.39B$2.93B$2.68B$2.71B$2.27B$1.83B$1.67B$1.22B$981M$768M$570M$398M
SG&A Expense $1.89B$1.70B$1.72B$1.57B$1.35B$1.08B$914M$630M$431M$316M$407M$270M
Operating Income $13.33B$10.42B$6.95B$5.63B$6.19B$4.59B$2.60B$1.61B$839M$380M$306M$403M
Interest Expense ··$700M$706M$766M$767M$626M$420M$238M$150M$133M$50M
Interest Income ·$294M$281M$60M········
Other Non-op $172M$267M$-49M$337M$411M$-618M$84M$42M$-115M$31M$-31M$-3M
Pretax Income $12.72B$9.97B$6.21B$5.26B$5.84B$3.20B$2.06B$1.23B$485M$261M$142M$349M
Income Tax $1.74B$1.25B$797M$772M$724M$438M$195M$15M$-74M$74M$19M$83M
Net Income $10.98B$8.71B$5.41B$4.49B$5.12B$2.76B$1.87B$1.21B$559M$187M$123M$267M
EPS (Basic) $2.58$2.03$1.22$10.10$11.55$6.26$4.26$2.78$1.29$0.44$0.29$0.63
EPS (Diluted) $2.53$1.98$1.20$9.95$11.24$6.08$4.13$2.68$1.25$0.43$0.28$0.62
Shares (Basic) 4,249,512,0004,295,191,0004,415,712,000444,698,000443,155,000440,922,000437,799,000435,374,000431,885,000428,822,000425,889,000420,544,000
Shares (Diluted) 4,343,863,0004,392,608,0004,494,966,000451,290,000455,372,000454,208,000451,765,000451,244,000446,814,000438,652,000436,456,000431,894,000
EBITDA $13.66B$10.75B$7.31B$5.97B$6.40B$4.70B$2.71B·$911M$437M$368M$457M
대차대조표 27
지표 추세 202520242023202220212020201920182017201620152014
Cash & Equivalents $9.03B$7.80B$7.12B$5.15B$6.03B$8.21B$5.02B$3.79B$2.82B$1.47B$1.81B$1.11B
Short-term Investments $29M$1.78B$21M$911M$0···$0$266M$501M$495M
Prepaid Expense $498M$432M$409M$393M$324M$203M$181M$179M····
Other Current Assets $3.96B$3.52B$2.78B$3.21B$2.04B$1.56B$1.16B$748M$536M$260M$215M$152M
Current Assets $13.02B$13.10B$9.92B$9.27B$8.07B$9.76B$6.18B$9.69B$7.67B$5.72B$5.43B$3.93B
PP&E (Net) $2.00B$1.59B$1.49B$1.40B$1.32B$960M$565M$418M$319M$250M$173M$150M
PP&E (Gross) $3.10B$2.51B$2.35B$2.15B$1.94B$1.45B$981M$787M$641M$545M$471M$415M
Accum. Depreciation $1.10B$918M$855M$754M$616M$495M$416M$369M$322M$294M$297M$265M
Intangibles $32.78B$32.45B··········
Other Non-current Assets $7.79B$6.48B$5.66B$5.19B$4.27B$3.17B$2.73B$911M$652M$341M$285M$192M
Total Assets $55.60B$53.63B$48.73B$48.59B$44.58B$39.28B$33.98B$25.97B$19.01B$13.59B$10.20B$7.04B
Accounts Payable $901M$900M$747M$672M$837M$656M$674M$563M$360M$313M$253M$202M
Accrued Liabilities $3.22B$2.16B$1.80B$1.51B$1.45B$1.10B$843M$482M$315M$198M$140M$70M
Short-term Debt $999M$1.78B$400M$0$700M$500M$0·····
Current Liabilities $10.98B$10.76B$8.86B$7.93B$8.49B$7.81B$6.86B$6.49B$5.47B$4.59B$3.53B$2.66B
Capital Leases $2.05B$1.98B$2.05B$2.22B$2.41B$1.95B$1.42B·····
Other Non-current Liabilities $2.96B$2.55B$2.56B$2.45B$2.46B$1.98B$1.44B$129M$135M$61M$52M$60M
Total Liabilities $28.98B$28.89B$28.14B$27.82B$28.74B$28.22B$26.39B$20.74B$15.43B$10.91B$7.98B$5.18B
Long-term Debt ·····$21.86B$20.72B$14.87B$9.05B···
Total Debt $14.46B$15.58B$14.54B$14.35B$15.39B$16.31B$14.76B·$6.50B$3.36B$2.37B$900M
Common Stock $7.29B$6.25B$5.15B$4.64B$4.02B$3.45B$2.79B$2.32B$1.87B$1.60B$1.32B$1.04B
Retained Earnings $42.28B$31.30B$22.59B$17.18B$12.69B$7.57B$4.81B$2.94B$1.73B$1.13B$942M$819M
Treasury Stock $22.37B$13.17B$6.92B$824M$824M$0······
AOCI $-580M$362M$-224M$-217M$-40M$44M$-24M$-20M$-21M$-49M$-43M$-4M
Stockholders' Equity $26.62B$24.74B$20.59B$20.78B$15.85B$11.07B$7.58B$5.24B$3.58B$2.68B$2.22B$1.86B
Liabilities + Equity $55.60B$53.63B$48.73B$48.59B$44.58B$39.28B$33.98B$25.97B$19.01B$13.59B$10.20B$7.04B
Shares Outstanding 4,222,162,1504,277,571,000432,759,584445,346,776443,963,107442,895,261438,806,649436,598,597433,392,686430,054,212427,940,440422,910,887
현금 흐름 17
지표 추세 202520242023202220212020201920182017201620152014
D&A $333M$329M$357M$337M$208M$116M$104M$83M$72M$58M$62M$54M
Stock-based Comp $368M$273M$339M$575M$403M$415M$405M$321M$182M$174M$125M$115M
Deferred Tax $-449M$-591M$-543M$-135M$200M$70M$-95M$-86M$-209M$-47M$-59M$-30M
Other Non-cash $-1.08B$-1.36B$1.71B$-3.24B$-5.53B$-935M$-5.17B·$-2.39B$-1.85B$-1.00B$-390M
Operating Cash Flow $10.15B$7.36B$7.27B$2.03B$393M$2.43B$-2.89B$-2.68B$-1.79B$-1.47B$-749M$16M
CapEx $688M$440M$349M$408M$525M$498M$253M$174M$173M$108M$91M$70M
Investing Cash Flow $1.04B$-2.18B$542M$-2.08B$-1.34B$-505M$-387M$-339M$34M$50M$-179M$-43M
Debt Issued ········$3.02B$1.00B$1.50B$400M
Net Debt Issued $-1.83B$-400M$0$-700M$-500M···$3.02B$1.00B$1.50B$400M
Stock Issued ····$174M$235M$72M$125M$88M$37M$78M$61M
Stock Repurchased $9.13B$6.26B$6.05B$0$600M$0$0·····
Net Stock Activity $-9.13B$-6.26B$-6.05B$0$-426M$235M$72M·$88M$37M$78M$61M
Financing Cash Flow $-10.35B$-4.07B$-5.95B$-664M$-1.15B$1.24B$4.51B$4.05B$3.08B$1.09B$1.64B$542M
Net Change in Cash $1.23B$689M$1.95B$-885M$-2.18B$3.20B$1.23B$989M$1.36B$-342M$696M$509M
Taxes Paid $2.22B$1.64B$1.16B·········
Free Cash Flow $9.46B$6.92B$6.93B$1.62B$-132M$1.93B$-3.14B·$-1.96B$-1.58B$-841M$-53M
Levered FCF ··$6.32B$1.02B$-803M$1.27B$-3.71B·$-2.23B$-1.69B$-955M$-92M
수익성 7
지표 추세 202520242023202220212020201920182017201620152014
Operating Margin 29.5%26.7%20.6%17.8%20.9%18.3%12.9%·7.2%4.3%4.5%7.3%
Net Margin 24.3%22.3%16.0%14.2%17.2%11.1%9.3%·4.8%2.1%1.8%4.9%
Pretax Margin 28.2%25.6%18.4%16.7%19.7%12.8%10.2%·4.2%2.9%2.1%6.3%
EBITDA Margin 30.2%27.6%21.7%18.9%21.6%18.8%13.4%·7.8%5.0%5.4%8.3%
ROA 20.1%17.0%11.1%9.6%12.2%7.5%6.2%·3.4%1.6%1.4%4.3%
ROE 42.6%36.7%25.3%21.8%32.8%25.8%25.9%·17.8%7.6%6.0%16.7%
ROIC 28.0%22.6%17.2%13.7%17.4%14.5%10.5%·9.6%4.5%5.8%11.2%
유동성 및 지급능력 5
지표 추세 202520242023202220212020201920182017201620152014
Current Ratio 1.21.21.11.21.01.30.9·1.41.21.51.5
Quick Ratio 0.80.90.80.80.71.10.7·0.50.40.70.6
Debt / Equity 0.50.60.70.71.01.51.9·1.81.31.10.5
LT Debt / Equity 0.50.60.70.70.91.41.9·1.81.31.10.5
Interest Coverage ··9.98.08.16.04.2·3.52.52.38.0
효율성 1
지표 추세 202520242023202220212020201920182017201620152014
Asset Turnover 0.80.80.70.70.70.70.7·0.70.70.80.9
주당 5
지표 추세 202520242023202220212020201920182017201620152014
Book Value / Share $6.30$57.84$47.57$46.65$35.70$24.98$17.28·$8.26$6.23$5.20$30.75
Revenue / Share $10.40$88.79$75.02$70.06$65.22$55.03$44.62·$26.17$20.13$15.53$89.22
Cash Flow / Share $2.34$16.76$16.18$4.49$0.86$5.34$-6.39·$-4.00$-3.36$-1.72$0.27
Cash / Share $2.14$18.25$16.45$11.56$13.58$18.53$11.44·$6.51$3.41$4.23$18.43
EPS (TTM) $2.53$1.98$1.20$9.95$11.24$6.08$4.13$2.68$1.25$0.43$0.28$0.62
성장률 9
지표 추세 202520242023202220212020201920182017201620152014
Revenue YoY 15.8%15.7%6.7%6.5%18.8%·······
Revenue CAGR 3Y 12.6%9.5%10.5%·········
Revenue CAGR 5Y 12.6%···········
EPS YoY 27.8%65.0%-87.9%-11.5%84.9%·······
EPS CAGR 3Y -36.6%-43.9%-41.8%·········
EPS CAGR 5Y -16.1%···········
Net Income YoY 26.1%61.1%20.4%-12.2%85.3%·······
Net Income CAGR 3Y 34.7%19.4%25.1%·········
Net Income CAGR 5Y 31.8%···········
가치 평가 (TTM) 14
지표 추세 202520242023202220212020201920182017201620152014
Revenue TTM $45.18B$39.00B$33.72B$31.62B$29.70B$25.00B$20.16B$15.79B$11.69B$8.83B$6.78B$5.50B
Net Income TTM $10.98B$8.71B$5.41B$4.49B$5.12B$2.76B$1.87B$1.21B$559M$187M$123M$267M
Market Cap $395.87B$381.27B$210.70B$131.32B$267.46B$239.49B$141.98B·$83.19B$53.24B$48.95B$2.95B
Enterprise Value $401.27B$387.27B$218.11B$139.62B$276.83B$247.59B$151.73B·$86.87B$54.87B$49.01B$2.24B
P/E 37.1450.2405.729.653.688.978.399.9153.6287.9408.578.7
P/S 8.89.86.24.29.09.67.0·7.16.07.20.5
P/B 14.915.410.26.316.921.618.7·23.219.922.01.6
P / Tangible Book ··10.26.316.921.6······
P / Cash Flow 39.051.829.064.8681.298.7-49.2·-46.6-36.1-65.3178.9
P / FCF 41.855.130.481.1-2026.6124.1-45.2·-42.5-33.7-58.2-55.4
EV / EBITDA 29.436.029.823.443.252.756.0·95.4125.5133.14.9
EV / FCF 42.455.931.586.3-2097.6128.3-48.3·-44.3-34.7-58.3-42.1
EV / Revenue 8.99.96.54.49.39.97.5·7.46.27.20.4
Earnings Yield 2.7%0.22%0.25%3.4%1.9%1.1%1.3%1.0%0.65%0.35%0.24%1.3%

최신 기간은 왼쪽에 · null 값은 ·로 표시

재무제표 손익계산서, 대차대조표, 현금흐름 — 연간, 지난 5년

16
지표 2025-12-312024-12-312023-12-312022-12-312021-12-31
매출 $45.18B $39.00B $33.72B $31.62B $29.70B
영업이익률 % 29.5% 26.7% 20.6% 17.8% 20.9%
순이익 $10.98B $8.71B $5.41B $4.49B $5.12B
희석 EPS $2.53 $1.98 $1.20 $9.95 $11.24

기관 투자자 (13F) 3,780개의 제출자 · $299.3B 전체 · 기준일 2026년 9월 30일

17

분기별 SEC 양식 13F에서 이 주식을 보유하고 있다고 보고하는 기관. 롱 포지션만 해당하며, 단일 제출자는 별도의 옵션 레그에 대해 두 번 나타날 수 있습니다. 대규모 상쇄 풋/콜 포지션은 일반적으로 방향성에 대한 확신보다는 시장 조성 또는 헤지된 재고를 반영합니다.

보유자 3,780
보유 가치 $299.3B
신규 포지션 223
청산 포지션 372
기관 활동 — Q2 2026 대 이전 분기
신규 포지션 청산 포지션 증가함 감소 순주식 변동
223 (-245 이전 분기 대비) 372 (+149 이전 분기 대비) 1,531 (-372 이전 분기 대비) 1,408 (+317 이전 분기 대비) -18.2M

Q1 2026 대비 비교. SEC 양식 13F 제출은 분기 말로부터 45일 이내에 마감되며, 지연 제출자를 위한 짧은 유예 기간이 추가됩니다. 해당 기간 내에 있는 분기는 가장 최근에 완전히 보고된 쌍을 선호하여 건너뜁니다.

기관 가치 주식 % 추적된 13F 중 유형
VANGUARD GROUP INC $36,567,804,619 390,014,981 12.22% 주식
BlackRock, Inc. $24,902,220,805 348,770,600 8.32% 주식
VANGUARD CAPITAL MANAGEMENT LLC $19,636,923,230 275,026,936 6.56% 주식
STATE STREET CORP $12,861,252,155 180,129,582 4.30% 주식
FMR LLC $9,705,920,859 135,937,268 3.24% 주식
Invesco Ltd. $9,668,928,498 135,419,167 3.23% 주식
GEODE CAPITAL MANAGEMENT, LLC $7,847,639,252 110,312,736 2.62% 주식
MORGAN STANLEY $7,120,249,181 99,723,374 2.38% 주식
Capital World Investors $6,236,148,079 87,336,163 2.08% 주식
VANGUARD PORTFOLIO MANAGEMENT LLC $5,359,034,956 75,056,512 1.79% 주식
Capital Research Global Investors $4,905,520,791 68,701,246 1.64% 주식
SUSQUEHANNA INTERNATIONAL GROUP, LLP $4,193,986,020 58,739,300 1.40% 콜 옵션
NORGES BANK $4,137,730,317 57,951,405 1.38% 주식
ALLIANCEBERNSTEIN L.P. $3,370,008,271 35,049,488 1.13% 주식
JPMORGAN CHASE & CO $3,270,113,543 44,322,490 1.09% 주식
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $3,255,458,334 33,858,121 1.09% 주식
NORTHERN TRUST CORP $2,985,573,792 41,814,759 1.00% 주식
LOOMIS SAYLES & CO L P $2,857,246,791 40,017,462 0.95% 주식
GOLDMAN SACHS GROUP INC $2,749,397,069 38,506,961 0.92% 주식
BANK OF AMERICA CORP /DE/ $2,674,454,612 37,457,348 0.89% 주식
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $2,407,890,102 33,723,951 0.80% 주식
CITADEL ADVISORS LLC $2,254,162,260 31,570,900 0.75% 콜 옵션
SUSQUEHANNA INTERNATIONAL GROUP, LLP $2,231,678,400 31,256,000 0.75% 풋 옵션
BANK OF MONTREAL /CAN/ $2,204,691,654 30,878,034 0.74% 주식
CITADEL ADVISORS LLC $2,150,096,760 30,113,400 0.72% 풋 옵션
JANE STREET GROUP, LLC $2,040,919,020 28,584,300 0.68% 콜 옵션
WELLINGTON MANAGEMENT GROUP LLP $1,997,223,935 27,972,324 0.67% 주식
JENNISON ASSOCIATES LLC $1,931,513,680 27,052,012 0.65% 주식
Bank of New York Mellon Corp $1,906,482,368 26,701,433 0.64% 주식
Legal & General Group Plc $1,886,525,730 26,421,929 0.63% 주식
Nuveen, LLC $1,854,981,003 25,980,127 0.62% 주식
UBS Group AG $1,835,500,650 25,707,292 0.61% 주식
JANE STREET GROUP, LLC $1,824,876,900 25,558,500 0.61% 풋 옵션
Amundi $1,821,639,267 25,513,155 0.61% 주식
VANGUARD FIDUCIARY TRUST CO $1,727,451,957 24,194,005 0.58% 주식
AMERICAN CENTURY COMPANIES INC $1,601,093,402 22,424,271 0.53% 주식
ROYAL BANK OF CANADA $1,546,989,000 21,666,541 0.52% 주식
Mitsubishi UFJ Asset Management Co., Ltd. $1,481,302,956 20,746,540 0.49% 주식
Fisher Asset Management, LLC $1,457,653,353 20,415,312 0.49% 주식
DEUTSCHE BANK AG\ $1,436,862,024 20,124,118 0.48% 주식
JANUS HENDERSON GROUP PLC $1,431,141,205 14,884,336 0.48% 주식
WOLVERINE TRADING, LLC $1,256,596,656 1,041,600 0.42% 풋 옵션
PeakShares LLC $1,159,750,000 16,243 0.39% 주식
BAILLIE GIFFORD & CO $1,154,810,962 16,173,823 0.39% 주식
WOLVERINE TRADING, LLC $1,153,448,601 956,100 0.39% 콜 옵션
Clearbridge Investments, LLC $1,142,901,425 16,007,023 0.38% 주식
BARCLAYS PLC $1,113,828,006 15,599,832 0.37% 주식
DIMENSIONAL FUND ADVISORS LP $1,084,701,251 15,188,196 0.36% 주식
SRS Investment Management, LLC $1,084,175,442 15,184,530 0.36% 주식
FIL Ltd $1,042,206,879 14,596,735 0.35% 주식

전체 3,780 기관 투자자 보기 →

행동주의자 및 5% 이상 소유자 10 보유

18

SEC 서류 13D를 제출한 투자자 — 발행인에 영향을 미치려는 의도로 5% 이상의 실질 소유권(행동주의 지분, 이사회 캠페인, M&A). 각 행은 해당 제출자의 포지션에 대한 가장 최근에 알려진 상태를 보여줍니다.

제출자 제출됨 지분 상태 목적 제출
High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Partners Master Fund LP, Icahn Partners Master Fund II LP, Icahn Partners Master Fund III LP, Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, IPH GP LLC, Icahn Enterprises Holdings L.P., Icahn Enterprises G.P. Inc., Beckton Corp., Carl C. Icahn ×3 제출 서류 2013년 10월 22일 · 최초 제출 · SEC
2012년 11월 5일 · 최초 제출 · SEC
TCV IV, L.P., TCV IV STRATEGIC PARTNERS, L.P., TECHNOLOGY CROSSOVER MANAGEMENT IV, L.L.C., TCV VI, L.P., TCV MEMBER FUND, L.P., TECHNOLOGY CROSSOVER MANAGEMENT VI, L.L.C., JAY C. HOAG, RICHARD H. KIMBALL, JOHN L. DREW, JON Q. REYNOLDS, JR., WILLIAM J.G. GRIFFITH IV, ROBERT W. TRUDEAU ×8 제출 서류 2011년 2월 4일 · 최초 제출 · SEC
TECHNOLOGY CROSSOVER VENTURES II, L.P., TCV II (Q), L.P., TCV II, V.O.F., TCV II STRATEGIC PARTNERS, L.P., TECHNOLOGY CROSSOVER VENTURES II, C.V., TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C., TCV IV, L.P., TCV IV STRATEGIC PARTNERS, L.P., TECHNOLOGY CROSSOVER MANAGEMENT IV, L.L.C., TCV VI, L.P., TCV MEMBER FUND, L.P., TECHNOLOGY CROSSOVER MANAGEMENT VI, L.L.C., JAY C. HOAG, RICHARD H. KIMBALL, JOHN L. DREW, JON Q. REYNOLDS, JR., WILLIAM J.G. GRIFFITH IV, ROBERT W. TRUDEAU ×3 제출 서류 2008년 8월 14일 · 최초 제출 · SEC
미공개 보고자, 미공개 보고자 2004년 2월 17일 · 최초 제출 수동적 투자 SEC
TCV IV, L.P. See item 2 for identification of the General Partner, TCV IV STRATEGIC PARTNERS, L.P. See item 2 for identification of the General Partner, Technology Crossover Management IV, L.L.C. See item 2 for identification of the Managing Members, Technology Crossover Ventures II, L.P. See item 2 for identification of the General Partner, TCV II (Q), L.P. See item 2 for identification of the General Partner, TCV II, V.O.F. See item 2 for identification of the Investment General Partner, TCV II Strategic Partners, L.P. See item 2 for identification of the General Partner, Technology Crossover Ventures II, C.V. See item 2 for identification of the Investment General Partner, Technology Crossover Management II, L.L.C. See item 2 for identification of the Managing Members, JAY C. HOAG, RICHARD H. KIMBALL 2004년 1월 30일 · 최초 제출 · SEC
미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자 2003년 11월 10일 · 최초 제출 수동적 투자 SEC
미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자, 미공개 보고자 2003년 2월 14일 · 최초 제출 수동적 투자 SEC
TCVF Management, L.L.C. See item 2 for identification of the Managing Members --------------------------------------------------------------------- (2), JAY C. HOAG --------------------------------------------------------------------- (2), RICHARD H. KIMBALL --------------------------------------------------------------------- (2) 2002년 8월 13일 · 최초 제출 수동적 투자 SEC
TCV IV, L.P. See item 2 for identification of the General Partner --------------------------------------------------------------------- (2), TCV II (Q) L.P. See item 2 for identification of the General Partner --------------------------------------------------------------------- (2), TCVF Management, L.L.C. See item 2 for identification of the Mananging Members --------------------------------------------------------------------- (2), JAY C. HOAG --------------------------------------------------------------------- (2), RICHARD H. KIMBALL --------------------------------------------------------------------- (2) 2002년 5월 29일 · 최초 제출 수동적 투자 SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

회사 내부자 44 명의 내부자 · 21 임원 · 20 이사

19
내부자 역할 마지막 활동 보유 주식 수 매수 12개월 매도 12개월 순매수/매도 12개월
Theodore A Sarandos Co-CEO 2026년 8월 3일 M 178,954 0 7 $-14,349,918
David B Wells CFO 2019년 1월 2일 A 0 0 0 $0
Barry Mccarthy Chief Financial Officer 2010년 12월 1일 A 51,563 0 0 $0
Jeffrey William Karbowski Chief Accounting Officer 2026년 10월 1일 A 0 0 0 $0
Cletus R Willems Chief Global Affairs Officer 2026년 8월 3일 M 6,277 0 2 $-521,132
David A Hyman Chief Legal Officer 2026년 8월 3일 M 316,100 0 6 $-38,053,545
Dicus Marian Lee Chief Marketing Officer 2023년 1월 3일 A · 0 0 $0
Meabe Sergio Ezama Chief Talent Officer 2023년 1월 3일 A · 0 0 $0
Rachel Whetstone Chief Communications Officer 2023년 1월 3일 A · 0 0 $0
Kenneth A Barker Chief Accounting Officer 2022년 10월 3일 A · 0 0 $0
John Bozoma Saint Chief Marketing Officer 2022년 3월 1일 A · 0 0 $0
Jessica Neal Chief Talent Officer 2021년 5월 3일 A 0 0 0 $0
Kelly Bennett Chief Marketing Officer 2019년 3월 1일 A 0 0 0 $0
Jonathan Friedland Chief Communications Officer 2018년 6월 1일 A 0 0 0 $0
Neil D Hunt Chief Product Officer 2017년 6월 1일 A 459,952 0 0 $0
Tawni Cranz Chief Talent Officer 2017년 4월 3일 A 0 0 0 $0
William J Holmes Chief Business Dev Officer 2013년 7월 1일 A 0 0 0 $0
Patricia J Mccord Chief Talent Officer 2012년 10월 1일 A 4,283 0 0 $0
Jessica T Becker Interim Chief Mktng Officer 2012년 7월 2일 A · 0 0 $0
Andrew S Rendich Chief Service and Ops Officer 2011년 7월 1일 A 0 0 0 $0
Thomas R Dillon Chief Operations Officer 2006년 4월 3일 A 27,641 0 0 $0
Elinor Mertz 이사 2026년 10월 1일 A · 0 0 $0
Strive Masiyiwa 이사 2026년 10월 1일 A 0 0 0 $0
Susan E Rice 이사 2026년 10월 1일 A 0 0 0 $0
Mathias Dopfner 이사 2026년 10월 1일 A 25 0 0 $0
Ann Mather 이사 2026년 10월 1일 A 0 0 0 $0
Leslie J Kilgore 이사 2026년 10월 1일 A 35,396 0 0 $0
Bradford L Smith 이사 2026년 10월 1일 A 79,690 0 5 $-5,614,593
Richard N. Barton 이사 2026년 10월 1일 A 2,460 0 4 $-327,189
Jay C Hoag 이사 2026년 10월 1일 A 63,040 0 0 $0
Anne M Sweeney 이사 2026년 7월 1일 A 0 0 0 $0
Reed Hastings 이사 2026년 6월 1일 A 3,940 0 47 $-308,952,910
Timothy M Haley 이사 2025년 6월 2일 A 0 0 0 $0
Rodolphe Belmer 이사 2022년 10월 3일 A 0 0 0 $0
George A Battle 이사 2018년 12월 3일 A 46,050 0 0 $0
Charles H Giancarlo 이사 2012년 6월 1일 A 2,499 0 0 $0
Gregory S Stanger 이사 2010년 7월 1일 A 0 0 0 $0
Michael N Schuh 이사 2010년 5월 3일 A 0 0 0 $0
Robert A Pisano 이사 2005년 10월 3일 A 3,000 0 0 $0
Michael Ramsay 이사 2003년 10월 17일 M 0 0 0 $0
William Griffith 10% 소유주 2010년 8월 10일 S 14,356 0 0 $0
Rick Kimball 10% 소유주 2008년 8월 25일 G 0 0 0 $0
Spencer Adam Neumann · 2026년 8월 10일 S 73,787 0 46 $-16,946,353
Gregory K Peters · 2026년 8월 6일 S 120,931 0 8 $-17,697,970

SEC 양식 3/4/5 제출 서류 기준 내부자; 순매수/매도는 공개 시장 거래만 해당

ETF 보유 현황 177 ETF 보유

20

가중치는 직접적인 주식 보유(N-PORT)만 반영합니다. 레버리지 또는 파생 상품 기반 펀드는 표시되지 않은 추가 스왑 노출을 보유할 수 있습니다.

펀드 비중 단위 기준일 출처
NFXL · Direxion Shares ETF Trust 15.11% 286,635 NS 2026년 7월 31일 N-PORT
GGME · Invesco Exchange-Traded Fund Trust 6.84% 45,912 SH 2026년 10월 5일 일간
FCOM · FIDELITY COVINGTON TRUST 4.32% 1,042,475 NS 2026년 7월 31일 N-PORT
VOX · VANGUARD WORLD FUND 4.22% 3,538,124 SH 2026년 8월 19일 일간
FEPI · ETF Opportunities Trust 4.21% 379,552 NS 2026년 7월 31일 N-PORT
RSPC · Invesco Exchange-Traded Fund Trust 4.16% 33,580 SH 2026년 10월 5일 일간
IYC · iShares Trust 4.09% 621,573 SH 2026년 9월 11일 일간
IXP · iShares Trust 4.03% 245,778 SH 2026년 9월 11일 일간
QUSA · Tidal Trust III 3.79% 11,328 NS 2026년 7월 31일 N-PORT
FDND · First Trust Exchange-Traded Fund IV 3.76% 5,120 NS 2026년 7월 31일 N-PORT
NITE · Capitol Series Trust 3.64% 15,758 NS 2026년 7월 31일 N-PORT
SPHQ · Invesco Exchange-Traded Fund Trust 3.49% 9,804,404 SH 2026년 10월 5일 일간
PNQI · Invesco Exchange-Traded Fund Trust 3.41% 270,623 SH 2026년 10월 5일 일간
TECB · iShares Trust 3.29% 213,446 SH 2026년 9월 11일 일간
FNGG · Direxion Shares ETF Trust 3.20% 54,002 NS 2026년 7월 31일 N-PORT
LCLG · Advisors Series Trust 2.67% 40,114 NS 2026년 7월 31일 N-PORT
PEXL · Pacer Funds Trust 2.48% 17,490 NS 2026년 7월 31일 N-PORT
WEBL · Direxion Shares ETF Trust 2.44% 31,842 NS 2026년 7월 31일 N-PORT
HAPI · Harbor ETF Trust 2.26% 154,369 NS 2026년 7월 31일 N-PORT
FGSI · First Trust Exchange-Traded Fund IV 2.03% 586 NS 2026년 7월 31일 N-PORT
QTOP · iShares Trust 1.90% 70,633 SH 2026년 9월 11일 일간
NULG · Nushares ETF Trust 1.86% 693,098 NS 2026년 7월 31일 N-PORT
QUAL · iShares Trust 1.84% 11,254,784 SH 2026년 9월 11일 일간
RILA · Spinnaker ETF Series 1.80% 10,586 NS 2026년 7월 31일 N-PORT
PALC · Pacer Funds Trust 1.76% 51,544 NS 2026년 7월 31일 N-PORT
BIGY · Tidal Trust II 1.64% 12,411 NS 2026년 7월 31일 N-PORT
WINN · Harbor ETF Trust 1.62% 255,352 NS 2026년 7월 31일 N-PORT
HEQQ · J.P. Morgan Exchange-Traded Fund Tr… 1.55% 6,473 NS 2026년 7월 31일 N-PORT
IGM · iShares Trust 1.43% 1,987,154 SH 2026년 9월 11일 일간
QYLD · Global X Funds 1.41% 1,587,968 NS 2026년 7월 31일 N-PORT
QRMI · Global X Funds 1.40% 2,795 NS 2026년 7월 31일 N-PORT
QYLG · Global X Funds 1.39% 30,787 NS 2026년 7월 31일 N-PORT
PTNQ · Pacer Funds Trust 1.38% 230,240 NS 2026년 7월 31일 N-PORT
QQWZ · Pacer Funds Trust 1.38% 9,786 NS 2026년 7월 31일 N-PORT
QTR · Global X Funds 1.34% 1,421 NS 2026년 7월 31일 N-PORT
QCLR · Global X Funds 1.31% 605 NS 2026년 7월 31일 N-PORT
QSIX · Pacer Funds Trust 1.27% 3,251 NS 2026년 7월 31일 N-PORT
ARKW · ARK ETF Trust 1.19% 266,351 NS 2026년 7월 31일 N-PORT
WLTG · ETF Opportunities Trust 1.18% 12,694 NS 2026년 7월 31일 N-PORT
AQLT · iShares Trust 1.16% 49,683 SH 2026년 9월 11일 일간
QQQM · Invesco Exchange-Traded Fund Trust … 1.15% 19,214,536 SH 2026년 10월 5일 일간
QQQ · Invesco QQQ Trust, Series 1 1.15% 86,916,406 SH 2026년 10월 5일 일간
TEC · Harbor ETF Trust 1.14% 1,009 NS 2026년 7월 31일 N-PORT
IWY · iShares Trust 1.12% 2,305,206 SH 2026년 9월 11일 일간
MGK · VANGUARD WORLD FUND 1.12% 5,218,895 SH 2026년 8월 19일 일간
SPGP · Invesco Exchange-Traded Fund Trust 1.03% 313,897 SH 2026년 10월 5일 일간
PEVC · Pacer Funds Trust 1.02% 342 NS 2026년 7월 31일 N-PORT
ILCG · iShares Trust 1.01% 411,473 SH 2026년 9월 11일 일간
SEMI · Columbia ETF Trust I 0.99% 5,176 NS 2026년 7월 31일 N-PORT
ALRG · ALLSPRING EXCHANGE-TRADED FUNDS TRU… 0.98% 1,149 NS 2026년 7월 31일 N-PORT
IWF · iShares Trust 0.97% 15,769,276 SH 2026년 9월 11일 일간
QQQG · Pacer Funds Trust 0.93% 2,655 NS 2026년 7월 31일 N-PORT
IVW · iShares Trust 0.90% 8,980,812 SH 2026년 9월 11일 일간
EQWL · Invesco Exchange-Traded Fund Trust 0.89% 370,791 SH 2026년 10월 5일 일간
VFQY · VANGUARD WELLINGTON FUND 0.89% 59,282 SH 2026년 8월 19일 일간
VONG · VANGUARD SCOTTSDALE FUNDS 0.89% 6,643,876 SH 2026년 8월 19일 일간
IUSG · iShares Trust 0.85% 3,707,327 SH 2026년 9월 11일 일간
VOOG · VANGUARD ADMIRAL FUNDS 0.85% 3,128,772 SH 2026년 8월 19일 일간
QQQE · Direxion Shares ETF Trust 0.85% 158,017 NS 2026년 7월 31일 N-PORT
DYNF · BlackRock ETF Trust 0.85% 4,631,452 SH 2026년 9월 11일 일간
VUG · VANGUARD INDEX FUNDS 0.84% 44,610,196 SH 2026년 8월 19일 일간
MPLY · Strategy Shares 0.73% 1,610 NS 2026년 7월 31일 N-PORT
GLBL · Pacer Funds Trust 0.72% 111 NS 2026년 7월 31일 N-PORT
OEF · iShares Trust 0.67% 1,780,199 SH 2026년 9월 11일 일간
AGRW · ALLSPRING EXCHANGE-TRADED FUNDS TRU… 0.67% 10,528 NS 2026년 7월 31일 N-PORT
XLG · Invesco Exchange-Traded Fund Trust 0.65% 1,150,812 SH 2026년 10월 5일 일간
NULC · Nushares ETF Trust 0.65% 6,361 NS 2026년 7월 31일 N-PORT
IIGD · Invesco Exchange-Traded Self-Indexe… 0.64% 162,000 2026년 10월 5일 일간
HFGO · Hartford Funds Exchange-Traded Trust 0.64% 17,946 NS 2026년 7월 31일 N-PORT
ACIO · ETF Series Solutions 0.63% 208,101 NS 2026년 7월 31일 N-PORT
ADME · ETF Series Solutions 0.63% 25,914 NS 2026년 7월 31일 N-PORT
FQAL · FIDELITY COVINGTON TRUST 0.60% 118,782 NS 2026년 7월 31일 N-PORT
DUHP · Dimensional ETF Trust 0.60% 1,025,735 NS 2026년 7월 31일 N-PORT
TOPC · iShares Trust 0.59% 2,563 SH 2026년 9월 11일 일간
USCL · iShares Trust 0.59% 220,387 SH 2026년 9월 11일 일간
OMFL · Invesco Exchange-Traded Self-Indexe… 0.58% 409,680 SH 2026년 10월 5일 일간
MGC · VANGUARD WORLD FUND 0.57% 841,756 SH 2026년 8월 19일 일간
IWL · iShares Trust 0.56% 162,859 SH 2026년 9월 11일 일간
FHEQ · Fidelity Greenwood Street Trust 0.56% 72,370 NS 2026년 7월 31일 N-PORT
UPSD · ETF Series Solutions 0.56% 9,099 NS 2026년 7월 31일 N-PORT
FFLG · FIDELITY COVINGTON TRUST 0.56% 45,786 NS 2026년 7월 31일 N-PORT
OEI · Listed Funds Trust 0.55% 3,580 NS 2026년 7월 31일 N-PORT
FBCG · FIDELITY COVINGTON TRUST 0.55% 531,326 NS 2026년 7월 31일 N-PORT
XVV · iShares Trust 0.55% 48,452 SH 2026년 9월 11일 일간
RPG · Invesco Exchange-Traded Fund Trust 0.54% 158,017 SH 2026년 10월 5일 일간
GARP · iShares Trust 0.54% 216,490 SH 2026년 9월 11일 일간
TRFM · ETF Series Solutions 0.53% 18,360 NS 2026년 7월 31일 N-PORT
EGUS · iShares Trust 0.52% 1,902 SH 2026년 9월 11일 일간
QVML · Invesco Exchange-Traded Fund Trust … 0.52% 131,184 SH 2026년 10월 5일 일간
ESGV · VANGUARD WORLD FUND 0.51% 948,568 SH 2026년 8월 19일 일간
BSCQ · Invesco Exchange-Traded Self-Indexe… 0.50% 15,913,000 2026년 10월 5일 일간
FYEE · Fidelity Greenwood Street Trust 0.50% 15,273 NS 2026년 7월 31일 N-PORT
IVV · iShares Trust 0.49% 53,074,428 SH 2026년 9월 11일 일간
FBUF · Fidelity Greenwood Street Trust 0.49% 1,621 NS 2026년 7월 31일 N-PORT
ILCB · iShares Trust 0.48% 81,987 SH 2026년 9월 11일 일간
XRMI · Global X Funds 0.48% 3,316 NS 2026년 7월 31일 N-PORT
CHRI · Global X Funds 0.47% 527 NS 2026년 7월 31일 N-PORT
CATH · Global X Funds 0.47% 85,525 NS 2026년 7월 31일 N-PORT
VOO · VANGUARD INDEX FUNDS 0.47% 109,375,220 SH 2026년 8월 19일 일간
VV · VANGUARD INDEX FUNDS 0.47% 4,917,755 SH 2026년 8월 19일 일간
BBUS · J.P. Morgan Exchange-Traded Fund Tr… 0.47% 582,457 NS 2026년 7월 31일 N-PORT
PTLC · Pacer Funds Trust 0.47% 212,946 NS 2026년 7월 31일 N-PORT
XYLD · Global X Funds 0.47% 211,576 NS 2026년 7월 31일 N-PORT
XYLG · Global X Funds 0.47% 4,176 NS 2026년 7월 31일 N-PORT
VOTE · TCW ETF Trust 0.47% 71,437 NS 2026년 7월 31일 N-PORT
BKLC · BNY Mellon ETF Trust 0.47% 356,119 NS 2026년 7월 31일 N-PORT
XTR · Global X Funds 0.47% 313 NS 2026년 7월 31일 N-PORT
XCLR · Global X Funds 0.46% 231 NS 2026년 7월 31일 N-PORT
SUSA · iShares Trust 0.46% 245,054 SH 2026년 9월 11일 일간
VOXP · Advisors Series Trust 0.46% 372 NS 2026년 7월 31일 N-PORT
TOV · EA Series Trust 0.46% 16,776 NS 2026년 7월 31일 N-PORT
DFSU · Dimensional ETF Trust 0.46% 145,060 NS 2026년 7월 31일 N-PORT
IYY · iShares Trust 0.46% 180,619 SH 2026년 9월 11일 일간
IWB · iShares Trust 0.46% 2,902,886 SH 2026년 9월 11일 일간
BSCS · Invesco Exchange-Traded Self-Indexe… 0.45% 15,311,000 2026년 10월 5일 일간
COWG · Pacer Funds Trust 0.44% 135,538 NS 2026년 7월 31일 N-PORT
IWV · iShares Trust 0.44% 1,155,500 SH 2026년 9월 11일 일간
ITOT · iShares Trust 0.44% 5,482,112 SH 2026년 9월 11일 일간
SPUU · Direxion Shares ETF Trust 0.43% 15,886 NS 2026년 7월 31일 N-PORT
VONE · VANGUARD SCOTTSDALE FUNDS 0.43% 691,880 SH 2026년 8월 19일 일간
PBP · Invesco Exchange-Traded Fund Trust 0.43% 24,773 SH 2026년 10월 5일 일간
QDPL · Pacer Funds Trust 0.43% 101,450 NS 2026년 7월 31일 N-PORT
NUGO · Nushares ETF Trust 0.42% 143,449 NS 2026년 7월 31일 N-PORT
PBUS · Invesco Exchange-Traded Fund Trust … 0.42% 670,227 SH 2026년 10월 5일 일간
DFUS · Dimensional ETF Trust 0.42% 1,212,661 NS 2026년 7월 31일 N-PORT
QLC · FlexShares Trust 0.42% 58,688 NS 2026년 7월 31일 N-PORT
VTI · VANGUARD INDEX FUNDS 0.41% 133,701,685 SH 2026년 8월 19일 일간
VTHR · VANGUARD SCOTTSDALE FUNDS 0.41% 353,280 SH 2026년 8월 19일 일간
ESGU · iShares Trust 0.40% 932,675 SH 2026년 9월 11일 일간
TOK · iShares Trust 0.37% 11,670 SH 2026년 9월 11일 일간
HCMT · Direxion Shares ETF Trust 0.37% 29,301 NS 2026년 7월 31일 N-PORT
QIDX · Spinnaker ETF Series 0.37% 1,982 NS 2026년 7월 31일 N-PORT
LRGF · iShares Trust 0.37% 178,695 SH 2026년 9월 11일 일간
PHDG · Invesco Actively Managed Exchange-T… 0.35% 3,280 SH 2026년 10월 5일 일간
URTH · iShares, Inc. 0.35% 377,433 SH 2026년 9월 11일 일간
SPXL · Direxion Shares ETF Trust 0.35% 329,191 NS 2026년 7월 31일 N-PORT
DFAU · Dimensional ETF Trust 0.35% 599,824 NS 2026년 7월 31일 N-PORT
CRBN · iShares Trust 0.33% 49,945 SH 2026년 9월 11일 일간
TILT · FlexShares Trust 0.31% 94,010 NS 2026년 7월 31일 N-PORT
ACWI · iShares Trust 0.31% 1,326,739 SH 2026년 9월 11일 일간
PFIG · Invesco Exchange-Traded Fund Trust … 0.30% 385,000 2026년 10월 2일 일간
DCOR · Dimensional ETF Trust 0.29% 136,941 NS 2026년 7월 31일 N-PORT
FCPI · FIDELITY COVINGTON TRUST 0.28% 10,728 NS 2026년 7월 31일 N-PORT
IUS · Invesco Exchange-Traded Self-Indexe… 0.27% 39,015 SH 2026년 10월 5일 일간
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.26% 3,512,331 SH 2026년 8월 19일 일간
HELO · J.P. Morgan Exchange-Traded Fund Tr… 0.26% 166,948 NS 2026년 7월 31일 N-PORT
HQGO · Lattice Strategies Trust 0.26% 1,766 NS 2026년 7월 31일 N-PORT
DFVX · Dimensional ETF Trust 0.26% 18,736 NS 2026년 7월 31일 N-PORT
INFO · Harbor ETF Trust 0.24% 28,560 NS 2026년 7월 31일 N-PORT
DFAC · Dimensional ETF Trust 0.23% 1,541,899 NS 2026년 7월 31일 N-PORT
JOYT · J.P. Morgan Exchange-Traded Fund Tr… 0.22% 3,013 NS 2026년 7월 31일 N-PORT
RWL · Invesco Exchange-Traded Fund Trust … 0.22% 320,104 SH 2026년 10월 5일 일간
PRF · Invesco Exchange-Traded Fund Trust 0.21% 314,815 SH 2026년 10월 5일 일간
LGDX · Tidal Trust III 0.20% 3,981 NS 2026년 7월 31일 N-PORT
DXUV · Dimensional ETF Trust 0.20% 14,996 NS 2026년 7월 31일 N-PORT
EUSA · iShares, Inc. 0.19% 48,643 SH 2026년 9월 11일 일간
BSCT · Invesco Exchange-Traded Self-Indexe… 0.19% 5,381,000 2026년 10월 5일 일간
USMV · iShares Trust 0.18% 566,367 SH 2026년 9월 11일 일간
RSP · Invesco Exchange-Traded Fund Trust 0.18% 2,558,683 SH 2026년 10월 5일 일간
GLOF · iShares Trust 0.17% 4,451 SH 2026년 9월 11일 일간
SIZE · iShares Trust 0.15% 8,245 SH 2026년 9월 11일 일간
HDUS · Lattice Strategies Trust 0.13% 3,738 NS 2026년 7월 31일 N-PORT
JQUA · J.P. Morgan Exchange-Traded Fund Tr… 0.09% 106,435 NS 2026년 7월 31일 N-PORT
ROUS · Lattice Strategies Trust 0.08% 7,413 NS 2026년 7월 31일 N-PORT
FEUS · FlexShares Trust 0.06% 990 NS 2026년 7월 31일 N-PORT
PABU · iShares Trust 0.06% 19,676 SH 2026년 9월 11일 일간
ACWV · iShares, Inc. 0.06% 24,435 SH 2026년 9월 11일 일간
EQAL · Invesco Exchange-Traded Fund Trust … 0.05% 6,564 SH 2026년 10월 5일 일간
NEAR · iShares U.S. ETF Trust 0.04% 2,277,000 SH 2026년 9월 11일 일간
GTO · Invesco Actively Managed Exchange-T… 0.00% 1,000 2026년 9월 30일 일간
BSV · VANGUARD BOND INDEX FUNDS · · 2026년 7월 15일 일간
BND · VANGUARD BOND INDEX FUNDS · · 2026년 7월 15일 일간
VCSH · VANGUARD SCOTTSDALE FUNDS · · 2026년 7월 15일 일간
VTC · VANGUARD SCOTTSDALE FUNDS · · 2026년 7월 30일 일간
BNDW · VANGUARD SCOTTSDALE FUNDS · · 2026년 7월 30일 일간
BNDX · VANGUARD CHARLOTTE FUNDS · · 2026년 7월 15일 일간
VCEB · VANGUARD WORLD FUND · · 2026년 7월 30일 일간

NFLX 분석가 합의 강세 및 약세 애널리스트 의견, 12개월 목표 주가, 상승 여력

21
평점 · 58 명의 애널리스트 매수
중앙값 목표 $92.00 +33.9%
14 24.1% 적극 매수
29 50.0% 매수
15 25.9% 보유
0 0.0% 매도
0 0.0% 적극 매도

12개월 목표 주가

45 명의 애널리스트 · 2026-10-04

평균 목표 $92.93 +35.3%

지금 현재가 $68.69
저가$57.00 평균$92.93 고가$135.00

동종 기업 비교(GICS 하위 산업) 주요 지표 대 섹터 동종 기업

22

회계연도 기준, 각 회사의 마지막 회계연도 말 종가 기준 가격입니다.

티커 시가총액 P/E 매출 YoY 순이익률 ROE 매출 총이익률
NFLX $395.87B 37.1 15.8% 24.3% 42.6% ·
DIS $215.59B 16.6 3.4% 13.1% 11.8% ·
WBD $71.47B 99.4 -5.1% 1.9% 2.1% ·
LYV $33.55B -593.8 8.8% 2.0% 223.3% ·
TKO · 92.5 -3.0% 4.1% 5.0% ·
FWONA · 67.7 22.7% 12.4% 7.5% ·
ROKU $16.04B 183.9 15.2% 1.9% 3.4% 43.8%
WMG · · 4.4% 5.4% 62.7% ·
MSGS · 1255.8 11.0% 0.67% -2.9% ·
CNK · 22.3 2.1% 4.4% · ·
MSGE · 58.6 12.5% 6.2% 161.8% ·

최신 뉴스 이 회사 관련 최근 헤드라인

23

NFLX AI 분석가 패널 — 강세 및 약세 전망 주식 전망에 대한 2026Q2 토론: Claude, Grok, Gemini, ChatGPT

24
패널 판정 NEUTRAL 신뢰도 0.68 4 / 4 보고됨 예측 스프레드 ·

Netflix는 지배적인 수익성과 오류의 여지를 남기지 않는 밸류에이션 사이의 줄다리기에 직면해 있습니다. Grok과 Gemini는 41%의 자기자본이익률을 지속 가능한 수익 엔진의 증거로 강조하는 반면, Claude는 높은 레버리지와 리더십 변화가 상당한 하락 위험을 초래한다고 경고합니다. 패널은 현재의 프리미엄 가격이 정당화되는지에 대해 여전히 분분하며, 궁극적으로 회사가 광고 지원 수익으로의 중요한 전환을 탐색함에 따라 신중한 보류로 수렴됩니다.

1라운드 — 오프닝 테이크

Grok NEUTRAL
신뢰도 0.75
↑ 강세

저는 Netflix를 스트리밍 수익성 왕으로 보고 있으며, 콘텐츠 해자와 광고 계층의 상승세를 활용하여 2026년 2분기까지 지속적인 수익력을 창출할 것입니다. 41.86%의 ROE는 회사가 디즈니의 11%와 같은 경쟁사보다 주주 지분을 훨씬 더 잘 이익으로 전환하여 희석 없이 더 많은 히트작에 자금을 지원한다는 것을 보여줍니다. 48%의 매출 총이익률은 비용이 안정화되는 동안에도 가격 결정력이 유지됨을 입증하며 견고하게 유지됩니다. 4월 16일 뉴스에 따른 1분기 매출 초과는 모멘텀을 신호하며, 해지 수수료는 보너스 킥커입니다.

↓ 약세

제 생각에는 Netflix의 하늘 높은 밸류에이션은 2026년 2분기까지 가입자 포화와 경쟁으로 인해 산산조각 날 수 있는 완벽함을 이미 반영하고 있습니다. 41배의 P/E는 디즈니의 14배를 훨씬 웃돌아 경쟁이 치열한 시장에서 수익 미스에 대한 여지를 남기지 않습니다. 시가총액은 2025년 3분기 5,120억 달러에서 현재 4,280억 달러로 16% 하락했으며, 이는 성장 우려를 반영합니다. 4월 16일 Reed Hastings의 회장 퇴임은 중요한 광고 전환 시점에 리더십 위험을 더합니다.

Claude NEUTRAL
신뢰도 0.62
↑ 강세

Netflix는 마진을 확대하면서 매출을 두 자릿수로 성장시킬 수 있음을 입증했습니다. 핵심 스트리밍 모델이 작동하고 있습니다. 매출 총이익률은 48%로 미디어 회사에게는 요새 수준이며, 순이익률 24%는 가격 결정력이 실제임을 보여줍니다. 41.86%의 ROE는 경영진이 단순한 재무 공학이 아닌 주주 자본에서 진정한 수익을 추출하고 있음을 알려줍니다. 후행 수익의 41배로, 네, 배수는 가파르지만 가입자 성장과 광고 계층 침투율이 유지된다면 현금 창출은 디즈니의 14배 배수에 대한 프리미엄을 정당화합니다. Reed Hastings의 퇴임은 리더십 연속성 위험이지 종말의 징조가 아닙니다.

↓ 약세

Netflix는 주당 순이익의 41배로 거래되는 반면 디즈니는 14배로 거래됩니다. 이 격차는 Netflix가 디즈니보다 몇 년 동안 더 빠르게 수익을 창출해야만 좁혀질 수 있으며, 저는 그런 일이 일어나고 있다는 증거를 보지 못합니다. 주가는 3주 만에 1,331달러에서 1,245달러로 하락했으며, 시가총액은 지난 분기에 300억 달러 감소했습니다. 더 우려되는 점은 부채/자본 비율이 55.7%라는 것입니다. 이는 Netflix가 자사주 매입 및 콘텐츠 자금 조달을 위해 최고 수준으로 레버리지되어 있음을 의미합니다. 가입자 성장이 둔화되거나 광고 요금이 압축되면 해당 레버리지는 함정이 됩니다. Warner Bros.의 해지 수수료는 근본적인 모멘텀 질문을 가리는 일회성 순풍이었습니다.

Gemini NEUTRAL
신뢰도 0.70
↑ 강세

Netflix는 성장 우선주의 플레이어에서 매우 효율적인 수익 기계로 성공적으로 전환하고 있습니다. 회사는 현재 41.86%의 ROE를 제공하며, 이는 스트리밍 시장이 성숙해지는 동안에도 주주 자본에서 상당한 수익을 창출할 수 있는 탁월한 능력을 보여줍니다. 이러한 효율성은 24.05%의 견고한 순이익률로 뒷받침되며, 이는 오리지널 콘텐츠 제작의 막대한 현금 소진 시대를 지났음을 보여줍니다. 1.33의 유동 비율을 유지함으로써 단기 부채를 충당할 충분한 유동 자산을 확보하는 동시에 차세대 글로벌 콘텐츠 히트작에 계속 투자하고 있습니다.

↓ 약세

밸류에이션은 회사의 성장 궤적 둔화와 계속해서 분리되어 있습니다. 투자자들은 현재 이전 분기보다 EPS가 상당히 축소된 주식에 대해 후행 수익의 41.07배를 지불하고 있습니다. 이 P/E 배수는 Reed Hastings가 회장직에서 물러나는 중대한 리더십 전환에 직면한 회사를 고려할 때 가파릅니다. 더욱이, 매출액 대비 주가 비율이 9.88배인 상황에서 시장은 스트리밍 부문이 점점 더 혼잡해지고 회사의 시가총액 자체가 지난 세 분기 동안 하향 추세를 보이고 있는 시점에 완벽함을 가격에 반영하고 있습니다.

Chatgpt NEUTRAL
신뢰도 0.62
↑ 강세

가장 강력한 강세 논리는 Netflix가 여전히 주식에 대해 높은 수익성과 건전한 매출 총이익률을 제공하며, 이는 지속적인 콘텐츠 투자를 지원하는 동안에도 지속 가능한 수익 스토리를 뒷받침한다는 것입니다. ROE 41.86% — 이 수준은 Netflix가 상당한 부분을 주식에서 이익으로 전환하며, 이는 강력한 가격 결정력과 자본 효율성을 의미합니다. 매출 총이익률 48.09% — 이 마진은 규모가 확대됨에 따라 지속적인 수익성과 더 큰 영업 레버리지를 지원합니다. 부채/자본 55.73% — 이 레버리지 수준은 Netflix가 즉각적인 유동성 위험 없이 지속적인 확장에 자금을 조달할 수 있음을 시사하지만, 현금 흐름이 약화될 경우 일부 대차 대조표 위험을 유지합니다.

↓ 약세

가장 강력한 약세 논리는 주식이 경쟁사에 비해 여전히 고평가되어 있으며, 성장이 둔화될 경우 실행을 억제할 수 있는 리더십 전환 위험에 직면해 있다는 것입니다. P/E TTM 41.07 — 이 높은 배수는 주식이 초과 성장을 위해 가격이 책정되었음을 의미합니다. 가까운 시일 내의 둔화는 배수 압축을 유발할 수 있습니다. P/S TTM 9.88 — 이 배수는 투자자들이 수익에 프리미엄을 지불하고 있음을 나타냅니다. 성장 둔화는 밸류에이션을 압박할 것입니다. EPS TTM 2.39 — 높은 배수에 비해 적당한 후행 수익은 마진이나 가입자 성장이 악화될 경우 위험을 증폭시킵니다.

2라운드 — 답변 및 반박

2라운드 — 답변 및 반박

Grok

Claude, 당신의 약세 분석은 Netflix의 55.7% 부채/자본 비율이 함정이 아니라 콘텐츠 지배력을 위한 스마트한 가속기라는 점을 놓치고 있습니다. 해당 비율은 자기자본 1달러당 부채가 0.5달러가 조금 넘는다는 것을 의미하며, 1.33의 유동 비율이 단기 부채를 편안하게 충당한다는 점을 감안할 때 관리 가능합니다. 24%의 순이익률로 현금을 창출하면서, 이 레버리지는 위험한 경쟁사인 Warner Bros.와 달리 희석 위험 없이 자사주 매입과 히트작에 자금을 지원합니다.

Claude

저는 Grok의 시가총액 하락 분석에 반박해야 합니다. Grok은 Netflix가 5,120억 달러에서 428억 달러로 16% 하락했다고 말하며 이를 성장 우려로 프레임하지만, 그 계산은 우리가 보고 있는 주식 움직임과 일치하지 않습니다. 주간 차트는 지난 한 달 동안 NFLX가 1,245달러에서 1,331달러 사이에서 거래되었음을 보여줍니다. 이는 16%가 아니라 6.5%의 변동입니다. 4,280억 달러 규모의 회사에서 일반적인 주간 변동성을 볼 때 시가총액 움직임은 노이즈입니다. 실제로 중요한 것은 Grok이 언급한 1분기 매출 초과가 전망에서 유지될지 여부이며, 제가 일회성으로 지적했던 Warner Bros. 해지 수수료가 반복될지 여부입니다. 그렇지 않다면 제가 설명한 배수 압축 위험이 빠르게 현실화될 것입니다.

Gemini

Claude, 부채/자본 비율이 함정이라는 당신의 요점은 Netflix의 현재 자본 구조의 현실을 놓치고 있습니다. 당신은 위험한 레버리지의 증거로 55.7%의 부채/자본 비율을 언급했지만, 이 수준은 실제로 이러한 꾸준한 현금 흐름을 창출하는 회사에게는 상당히 관리 가능합니다. 이 비율은 자기자본 1달러당 회사가 약 56센트의 부채를 부담하고 있음을 알려주며, 이는 성숙한 미디어 거대 기업에게는 보수적인 발자국입니다. 저는 Netflix가 부채 주도 성장 단계를 성공적으로 넘어섰다고 믿으며, 당신의 대차 대조표에 대한 우려는 약간 과장되었습니다.

Chatgpt

Claude, 당신의 레버리지 우려는 타당하지만, 제 눈에는 가장 중요한 신호는 Netflix의 수익성입니다. ROE 41.86%는 Netflix가 경쟁사보다 훨씬 높은 비율로 주식을 이익으로 전환함을 신호합니다. 이는 현금 엔진을 이끄는 가격 결정력과 자본 효율성으로 이어집니다. 그러나 성장이 둔화되거나 현금 흐름이 약화되면 높은 배수는 여전히 위험하며, 부채를 주목하게 합니다.

3라운드 — 최종 반박

3라운드 — 최종 반박

Grok

Claude, 당신의 주간 차트를 확장하면, 거래량 다이버전스는 2026년 2분기까지 약세인 기관 배포를 신호합니다. 4월 25일 실적 발표 후 돌파는 3,500만 주에 급증하며 대규모 자금 매수를 유인했습니다. 7월 11일 하락과 같은 최근 하락은 그 절반의 거래량으로 거래됩니다. 얇은 지지력은 판매자가 지배하고 있음을 의미하며, 우리 모두가 지적한 밸류에이션 스트레치 위에 더 많은 압축을 위험합니다.

Claude

저는 Gemini와 Grok이 모두 간과한 점에 대해 반박하고 싶습니다. Netflix의 55.7% 부채/자본 비율이 미디어 회사에게 '관리 가능'하거나 '보수적'이라는 주장입니다. 그것은 정확하지 않습니다. 디즈니는 약 1.2배의 D/E 비율을 가지고 있으며, 이는 Netflix 비율의 거의 두 배입니다. 그리고 디즈니는 테마파크와 선형 TV를 가진 자본 집약적인 복합 기업입니다. Netflix의 55.7% D/E는 실제로 스트리밍 회사에게는 높은 편입니다. 더 중요한 것은: Netflix의 24% 순이익률은 실제이지만, 성장하지는 않습니다. 가입자 성장이 정체되고 광고 요금이 압박을 받는다면(포화된 시장에서 둘 다 실제 위험), 그 레버리지는 특징이 아니라 짐이 됩니다. Grok은 자사주 매입을 '희석 위험 없이'라고 프레임하지만, 성장 둔화 환경에서 부채로 자금을 조달한 자사주 매입은 주주 가치를 파괴하는 정확한 방법입니다. 저는 제 보류를 옮기지 않겠지만, 패널보다 대차 대조표 수학에 대해 더 걱정하고 있습니다.

Gemini

Claude, 리더십 전환을 단순한 연속성 위험으로 일축하는 것을 반박해야 합니다. 4월 16일 Reed Hastings의 회장직 사임은 거의 30년 동안 그의 특정 비전에 의존해 온 회사에게는 엄청난 구조적 변화입니다. 이것은 단순한 경영진 교체가 아니라, 회사가 광고 지원 계층으로 전환해야 할 시점에 스트리밍 모델의 주요 설계자의 이탈입니다. 새로운 리더십이 이 정체성 변화를 성공적으로 헤쳐나가지 못한다면, 미래 수익에 대한 투자자들의 프리미엄을 나타내는 현재의 41.07 P/E 비율은 아마도 붕괴될 것입니다.

Chatgpt

저는 우리가 기본적 분석뿐만 아니라 경쟁 역학으로 프레임을 넓혀야 한다고 생각합니다. Claude, 당신의 레버리지 분석은 중요하지만, 디즈니의 지속적인 광고 지원 계층 확장과 Hulu와의 번들링 전략은 NFLX에 실제 가격 및 수요 압력을 생성합니다. 디즈니가 국제 출시를 가속화하거나 라이브 스포츠 노출을 늘린다면, NFLX는 동일한 광고 수익과 프리미엄 가입자를 놓고 더 많은 경쟁에 직면하게 될 것입니다. Gemini, Grok, 시장의 수익성에 대한 초점은 마진만으로는 덜 중요해지고, NFLX가 이러한 로드맵에 대해 수요 점유율을 어떻게 유지하는지에 더 중요해질 것입니다.

가격 예측

모델 3개월 목표가 6개월 목표가 근거
Grok $1280.00 $1350.00 광고 계층 가입자 추가가 경쟁사에 대한 수익성 해자를 검증한다면 Netflix는 2026년 2분기까지 꾸준히 상승할 것이라고 생각합니다. 주요 촉매제는 7월 23일경의 2분기 수익 발표이며, 여기서 광고로 인한 15% 이상의 매출 성장 전망은 배수 확장을 촉발할 수 있습니다. 큰 위험은 5백만 순 가입자 미달로, 포화 우려를 재점화하고 이미 경쟁사인 디즈니가 점유율을 빼앗을 여지가 없는 완벽한 실행을 가격에 반영하고 있는 41 P/E를 압축하는 것입니다. 제 6개월 목표가인 1,350달러(오늘의 1,245달러 종가 기준)에서 암시되는 선행 P/E 38배는 Hastings 이후 리더십 흔들림 없이 꾸준한 EPS 제공을 가정합니다.
Claude $1080.00 $1020.00 Netflix는 요새 같은 수익성과 포화된 시장에서 오류의 여지를 남기지 않는 밸류에이션 사이에 갇혀 있습니다. 제 논지는 2026년 3분기까지 가입자 성장이 정체되거나 광고 요금이 약화되면 41배 P/E 배수가 압축될 것이며, 둘 다 실제 위험입니다. 구체적인 촉매제는 7월 18일의 2분기 수익 전망입니다. 경영진이 순 가입자 증가 둔화 또는 ARPU 정체를 신호하면 시장은 빠르게 하향 재평가할 것입니다. 이것을 깨뜨리는 위험: 광고 계층 채택이 컨센서스를 초과하여 가속화되어 배수를 정당화합니다. 밸류에이션 측면에서: 수익의 41배는 시장이 수년간 15% 이상의 연간 수익 성장을 가격에 반영하고 있음을 의미합니다. Netflix의 24% 순이익률은 견고하지만 평탄하며, 확대되지 않습니다. Hastings의 퇴임은 실행 위험을 더합니다. 저는 레버리지 우려가 다시 부상함에 따라 3개월 동안 1,080달러까지 약세를 보이다가, 시장이 35배 수익으로 재평가함에 따라 10월까지 1,020달러 근처에서 안정화될 것으로 예측합니다. 여전히 프리미엄이지만 더 정직합니다.
Gemini $1180.00 $1250.00 제 논지는 Netflix가 리더십 전환을 흡수하면서 옆걸음질 칠 것이며, 광고 계층 수익이 가입자 포화를 상쇄하는 경우에만 결국 더 높게 돌파할 것이라는 것입니다. 주요 촉매제는 2026년 3분기 수익 보고서이며, 이는 Reed Hastings 없이 광고 계층 수익성을 확장하는 경영진의 능력을 처음으로 진정으로 테스트할 것입니다. 주요 위험은 24.05% 순이익률의 상당한 축소이며, 이는 경쟁이 마침내 가격 결정력을 침식하고 있음을 신호할 것입니다. 투자자들은 현재 후행 수익의 41.07배를 지불하고 있으며, 이는 시장이 향후 몇 분기 동안 오류의 여지를 전혀 남기지 않는 지속적이고 높은 마진 성장에 베팅하고 있음을 의미합니다.
Chatgpt $1150.00 $1250.00 저는 NFLX가 수익성이 견고하게 유지됨에 따라 향후 몇 달 동안 더 높게 움직일 수 있다고 생각합니다. 촉매제: 2026년 2분기 수익 발표는 성장과 마진 규율이 그대로 유지되고 있음을 강화합니다. 위험: 2분기 미스 또는 약한 향후 전망은 배수 압축을 유발할 수 있습니다. 41배의 후행 P/E는 Netflix가 초과 미래 수익을 위해 가격이 책정되었음을 의미하므로, 가까운 시일 내의 미스는 배수 압축을 유발할 수 있습니다.

트레이딩 시그널 진입 가격 및 위험/보상 비율을 포함한 최근 매수/매도 신호

25

현재 열린 신호가 없습니다 — 카드가 채워지지 않았으며, 이는 정직한 것입니다.

나의 지표 나만의 관심 목록 — 전체 기본 재무제표에서 선택한 항목

26

중요한 지표를 선택하세요. 상단의 전체 기본 정보에서 원하는 행 옆의 +를 클릭하세요.

선택 항목이 저장되어 모든 티커에서 유지됩니다.

출처: SEC 10-Q 제출 7월 17, 2026