NFLX

Netflix, Inc.

Communication Services · $325.8B market cap

Share price

$67.06

close of Oct 3, 2026

Fair value

$52.47

Sticker Price

Payback Price

$20.99

buy price

Overpriced

NFLX is Overpriced: at $67.06 it trades 28% above its fair value of $52.47. Its buy price (Payback Price) is $20.99, 69% below today's price. Business quality is strong: all 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 13% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

5 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth35.2% a year✓

Equity per share growth32.0% a year✓

Sales growth22.5% a year✓

Free cash flow growth37.5% a year✓

Return on invested capital20.1%✓

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Superinvestors

10 of the investors we track hold NFLX. In Q2 2026, 3 opened a position, 1 added, 1 trimmed and 1 sold out. Who we track

Bill Nygren

Oakmark Funds · as of Q2 2026

$786.5M

11,014,943 shares

Terry Smith

Fundsmith · as of Q2 2026

$499.1M

6,990,345 shares

Thomas Russo

Gardner Russo & Quinn · as of Q2 2026

$407.7M

5,710,088 shares

Josh Tarasoff

Greenlea Lane Capital · as of Q2 2026

$19.7M

275,835 shares

Wallace Weitz

Weitz Investment Management · as of Q2 2026

$10.5M

147,200 shares

Show all 10 holders

Polen Capital Management

Polen Capital Management · as of Q2 2026

$4.9M

68,139 shares

Thomas Gayner

Markel Group · as of Q2 2026

$2.9M

40,000 shares

First Pacific Advisors

First Pacific Advisors · as of Q2 2026

$1.2M

16,400 shares

Ruane Cunniff LP

Ruane Cunniff LP · as of Q2 2026

$578K

8,091 shares

Christopher Bloomstran

Semper Augustus · as of Q2 2026

$213K

2,980 shares

Moves in Q2 2026

New position: Terry Smith, Wallace Weitz, Thomas Gayner

Added: Bill Nygren

Trimmed: Polen Capital Management

Sold out: Chase Coleman

Insider activity

Since Jun 17, 2026: no open-market purchases, 12 sales worth $16.0M and 72 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

BARTON RICHARD N

director · 2026-09-10

Sold

$54K

BARTON RICHARD N

director · 2026-09-09

Sold

$55K

BARTON RICHARD N

director · 2026-09-08

Sold

$56K

Neumann Spencer Adam

Chief Financial Officer · 2026-08-10

Sold

$701K

Peters Gregory K

Co-CEO · 2026-08-06

Sold

$2.0M

Show all 12 sales

BARTON RICHARD N

director · 2026-08-05

Sold

$162K

SARANDOS THEODORE A

Co-CEO · 2026-08-04

Sold

$2.0M

HYMAN DAVID A

Chief Legal Officer · 2026-08-04

Sold

$417K

SARANDOS THEODORE A

Co-CEO · 2026-08-03

Sold

$1.8M

SARANDOS THEODORE A

Co-CEO · 2026-08-03

Sold

$6.0M

SMITH BRADFORD L

director · 2026-06-17

Sold

$1.1M

SMITH BRADFORD L

director · 2026-06-17

Sold

$1.7M

Other filings

BARTON RICHARD N

director · 2026-09-10

Option exercise

$19K

BARTON RICHARD N

director · 2026-09-09

Option exercise

$13K

BARTON RICHARD N

director · 2026-09-09

Option exercise

$5K

BARTON RICHARD N

director · 2026-09-08

Option exercise

$14K

BARTON RICHARD N

director · 2026-09-01

Award

$63K

Show all 72 other filings

Dopfner Mathias

director · 2026-09-01

Award

$63K

KILGORE LESLIE J

director · 2026-09-01

Award

$63K

Masiyiwa Strive

director · 2026-09-01

Award

$63K

MATHER ANN

director · 2026-09-01

Award

$63K

Mertz Elinor

director · 2026-09-01

Award

$62K

RICE SUSAN E

director · 2026-09-01

Award

$63K

SMITH BRADFORD L

director · 2026-09-01

Award

$63K

Karbowski Jeffrey William

Chief Accounting Officer · 2026-09-01

Award

$73K

Hoag Jay C

director · 2026-09-01

Award

$63K

BARTON RICHARD N

director · 2026-08-05

Option exercise

$43K

BARTON RICHARD N

director · 2026-08-03

Award

$62K

Dopfner Mathias

director · 2026-08-03

Award

$62K

KILGORE LESLIE J

director · 2026-08-03

Award

$62K

Karbowski Jeffrey William

Chief Accounting Officer · 2026-08-03

Award

$73K

RICE SUSAN E

director · 2026-08-03

Award

$62K

MATHER ANN

director · 2026-08-03

Award

$62K

SMITH BRADFORD L

director · 2026-08-03

Award

$62K

Masiyiwa Strive

director · 2026-08-03

Award

$62K

SARANDOS THEODORE A

Co-CEO · 2026-08-03

Option exercise

25,930 shares

SARANDOS THEODORE A

Co-CEO · 2026-08-03

Tax withholding

$500K

SARANDOS THEODORE A

Co-CEO · 2026-08-03

Tax withholding

$516K

SARANDOS THEODORE A

Co-CEO · 2026-08-03

Option exercise

14,440 shares

SARANDOS THEODORE A

Co-CEO · 2026-08-03

Tax withholding

$926K

SARANDOS THEODORE A

Co-CEO · 2026-08-03

Option exercise

14,018 shares

Neumann Spencer Adam

Chief Financial Officer · 2026-08-03

Option exercise

8,780 shares

Neumann Spencer Adam

Chief Financial Officer · 2026-08-03

Tax withholding

$170K

Neumann Spencer Adam

Chief Financial Officer · 2026-08-03

Tax withholding

$175K

Neumann Spencer Adam

Chief Financial Officer · 2026-08-03

Option exercise

4,890 shares

Neumann Spencer Adam

Chief Financial Officer · 2026-08-03

Tax withholding

$313K

Neumann Spencer Adam

Chief Financial Officer · 2026-08-03

Option exercise

4,748 shares

Peters Gregory K

Co-CEO · 2026-08-03

Option exercise

25,930 shares

Peters Gregory K

Co-CEO · 2026-08-03

Tax withholding

$500K

Peters Gregory K

Co-CEO · 2026-08-03

Tax withholding

$516K

Peters Gregory K

Co-CEO · 2026-08-03

Option exercise

14,440 shares

Peters Gregory K

Co-CEO · 2026-08-03

Tax withholding

$926K

Peters Gregory K

Co-CEO · 2026-08-03

Option exercise

14,018 shares

Willems Cletus R