Netflix, Inc. (NFLX) Stock Price & How to Invest

Netflix, Inc. is the world's largest subscription video streaming service, delivering movies, TV series, documentaries, and increasingly live events to more than 325 million paid memberships globally. It makes money primarily from recurring monthly subscription fees across tiered plans, and it has added a growing second revenue stream through advertising on its lower-priced ad-supported tier. The company spends heavily on content, both licensed and original, and its scale lets it amortize that spending across a huge global base, which is the core of its competitive advantage over smaller streamers.

The late-2026 picture is solid revenue growth paired with a share price that has fallen hard. Q1 2026 revenue was about $12.25 billion, up roughly 16% year over year, and Q2 2026 revenue was about $12.56 billion, up about 13%, with EPS of $0.80 against a $0.79 estimate. Trailing twelve-month revenue is about $48.4 billion, net income about $13.7 billion, and the operating margin about 33%. Netflix has stopped reporting quarterly subscriber counts, shifting focus from membership numbers to revenue and margins, and growth leans on price increases, paid sharing, an advertising business the company aimed to roughly double to about $3 billion in 2026, and live programming including NFL games, WWE, boxing, and MLB. The concern in the market is engagement: in October 2026 Netflix said it would cut about 6% of its workforce (roughly 1,000 jobs), and on October 16 it named former Disney executive Peter Rice chief content officer, replacing Bela Bajaria. As of that date the stock closed near $70.86, about 22% lower year to date and 40% lower over a year, for a market cap near $295 billion. Netflix competes for viewing time against Amazon Prime Video, Disney+, Hulu, HBO Max, Apple TV+, and YouTube, plus short-form video on TikTok and Instagram Reels.

Valuation risk has partly played out: the stock has fallen about 40% over the past year as the market questioned engagement, and it now trades near 22 times trailing and 19 times forward earnings, still a premium to traditional media. Any further stumble in growth, margins or viewing time could pressure the multiple again. Competition for viewing time is intense and well-funded, with Amazon Prime Video, Disney+, Hulu, HBO Max, Apple TV+, YouTube and short-form apps all fighting for attention, and price fatigue could raise churn as Netflix keeps lifting prices. A new content chief and a 6% workforce cut add execution risk to the creative pipeline. Content and live-sports rights are expensive, and a misjudged bet on programming or sports economics could weigh on margins. The advertising business is still young and must scale against established digital ad giants. Netflix no longer reports quarterly subscriber counts, which reduces visibility into a key demand signal, and slowing growth in mature markets and currency swings are ongoing concerns.

43 analysts publish price targets on NFLX, averaging $84.76 against a $62.73 price as of November 2026, or +35.1%. The published targets run from $57.00 to $126.00, a wide spread, and the ratings split 33 buy, 16 hold, 2 sell. Over the last six months there have been 0 raises and 11 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full NFLX forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Netflix, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Advertising as a second growth engine. Netflix is scaling its ad-supported tier and set a goal of roughly $3 billion in advertising revenue in 2026, about double the prior year, with its advertiser base reported up around 70% to over 4,000. The most optimistic published target, $126.00, assumes this works close to its best case.

The case against. Valuation risk has partly played out: the stock has fallen about 40% over the past year as the market questioned engagement, and it now trades near 22 times trailing and 19 times forward earnings, still a premium to traditional media. The most pessimistic target, $57.00, is roughly what NFLX is worth if this bites instead.

Read the full bull and bear case on NFLX, including what would have to change to break either one. Walnut is not an investment adviser.

Yes. Netflix, Inc. (NFLX) has had one share split in the last 10 years:

• 10:1 on November 17, 2025, so every share held became 10 shares.

A split changes the share count and the price per share and leaves the value of a holding unchanged. Someone holding $1,000 of NFLX the day before the 10:1 split held $1,000 the day after, in more shares at a proportionally lower price. Historical prices from before the date are normally shown split-adjusted, which is why a long-run chart shows no cliff.

Splits matter mainly because they make older price figures confusing to compare by hand, and because a board choosing to split is usually signalling that the price has run up far enough to feel awkward for smaller buyers. Neither is a reason to buy or sell.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Netflix, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$48.4 billion
• Q2 2026 revenue: ~$12.56 billion, up ~13% year over year
• Operating margin (TTM): ~33%
• Net income (TTM): ~$13.7 billion
• P/E (trailing / forward): ~22 / ~19
• Market cap: ~$295 billion
• Dividend: None

As of October 16, 2026 Netflix closed near $70.86, down about 22% year to date and 40% over a year, which has pulled its multiple down to about 22 times trailing and 19 times forward earnings. Q3 2026 results are due October 20, with consensus near $0.82 of EPS on about $12.9 billion of revenue, and the stock tends to react to revenue growth, operating margin, advertising traction, and engagement commentary rather than subscriber counts. The 45 analysts in Yahoo Finance's consensus carry an average target near $92.

If you want NFLX exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses NFLX naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to NFLX: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get NFLX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (BULZ, SPHQ, VOX), which spreads the position across many companies. Or build it into a focused thematic portfolio, so NFLX sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where NFLX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Netflix is the global streaming leader turning scale into profit: about $48 billion of trailing revenue, an operating margin above 33%, price increases, a growing ad tier and live sports and events. After a roughly 40% one-year drop the stock trades near 19 times forward earnings, and the open question going into the October 20, 2026 report is whether a new content chief and cost cuts can restart engagement growth.

Whether NFLX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is NFLX a buy or a sell?, and where the stock could go from here in the NFLX stock forecast.

For income investors, whether NFLX pays a dividend and how the payout looks is covered in does NFLX pay a dividend? And to weigh NFLX against a peer, read the full side-by-side comparisons: NFLX vs AAPL and NFLX vs AVGO.