NFLX
NETFLIX INCEvidence as of 2026-09-18The desk's Snapshot
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Overview · NETFLIX INC
Netflix, Inc. provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices. The company has approximately 231 million paid members in 190 countr…
Management team
- Ms. Marian Lee · Chief Marketing OfficerFind on LinkedIn
- Mr. Meabe Sergio Ezama · Chief Talent OfficerFind on LinkedIn
- Ms. Bela Bajaria · Chief Content OfficerFind on LinkedIn
- Mr. Jeffrey William Karbowski · Chief Accounting Officer & Principal Accounting OfficerFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.8 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
Evidence balance: Cautious ( -0.8 of a possible +2; was -0.8 before debate) · confidence high. Revenues rose modestly from $ 12,259,772,000 in Q1 2026 (fiscal quarter ended 2026-03-31) to $ 12,559,938,000 in Q2 2026 (fiscal quarter ended 2026-06-30), an increase of $ 300,166,000, while operating income increased by $ 235,613,000 to $ 4,192,610,000. Net income fell by $ 1,881,377,000 quarter-to-quarter to $ 3,401,414,000 and diluted EPS moved from $ 1.23 to $ 0.80.
Cash and cash equivalents declined by $ 3,160,540,000 to $ 9,099,232,000 as of 2026-06-30, long-term debt (noncurrent) fell by $ 1,535,783,000 to $ 11,825,548,000, and share repurchases rose from $ 1,270,588,000 to $ 4,714,403,000 with reported shares outstanding reduced from 4,212,794,271 to 4,163,939,676. Filings flag roughly $ 5.7 billion of content liabilities as of FY 2025 (fiscal quarter ended 2025-12-31), heavy operational dependence on AWS, and expanded risk language on pricing, features, partner billing and distribution; the 8‑K dated 2026-07-30 discloses planned WBD transaction financing commitments including up to a $ 42.2 billion senior unsecured bridge facility, a $ 5 billion revolving credit facility, and a possible $ 5.8 billion termination fee if conditions are unmet. Market metrics as of 2026-09-17 show negative momentum (-20.5% six‑month, -37.2% 12‑month), price below the 50‑ and 200‑day SMAs, elevated 30‑day volatility at 36.9%, a three‑year maximum drawdown of -49.5%, low market sensitivity (beta = 0.28), and valuation measures reported here include price/FCF = 27.79, EV/EBITDA = 20.92 and trailing P/E = 8.74, with an implied FCF growth rate of 17.19% under the packet’s discount and terminal assumptions.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenues were $12,259,772,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and $12,559,938,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo), an increase of $300,166,000 quarter-to-quarter.
XBRL companyfacts · 0001065280-26-000138Net income was $5,282,791,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and $3,401,414,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo), a decline of $1,881,377,000 quarter-to-quarter.
XBRL companyfacts · 0001065280-26-000212Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
In the Form 10-K filed 23 January 2026, Netflix reported approximately $5.7 billion of total content liabilities as of December 31, 2025 and stated that content commitments are long-term and largely fixed in nature.
Item 1A risk-factor diff · 0001065280-26-000034 vs 0001065280-25-000044The Form 10-K filed 23 January 2026 discloses that Netflix currently runs the vast majority of its computing on Amazon Web Services (AWS) and that the company cannot easily switch its AWS operations to another cloud provider, meaning commercial disputes or disruptions related to AWS would impact Netflix's operations and results.
Item 1A risk-factor diff · 0001065280-26-000034 vs 0001065280-25-000044Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
As of 2026-09-17, 6-month momentum is -20.5% and 12-month (12_1) momentum is -37.2%, with both momentum metrics ranked at the 7th percentile of the 561-stock research universe.
Moneyta signal set · 2026-09-17weakened in debatePrice is below both moving averages on 2026-09-17: -0.6% versus the 50-day SMA and -12.1% versus the 200-day SMA.
Moneyta signal set · 2026-09-17Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
BlackRock, Inc. reported $24.90B in holdings, Vanguard Capital Management LLC reported $19.64B, State Street Corp reported $12.86B, FMR LLC reported $9.71B, and Invesco Ltd. reported $9.67B in the 13F snapshot as of 2026-06-30.
13F holdings · 3397 filers · as of 2026-06-30Total reported institutional 13F value was $257.30B as of 2026-06-30, with holder_count 3397, value_qoq_pct -86.5, and holder_count_delta_qoq 3087.
13F holdings · 3397 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
On 17 September 2026, an article reports that Netflix co‑founder Reed Hastings donated $1 million to oppose a California ballot measure that would impose stricter voter ID requirements.
News · nypost.com · 2026-09-17On 17 September 2026, an article discusses Netflix's series "Monster: The Lizzie Borden Story," focusing on how the show portrays the relationship between Lizzie Borden and her maid Bridget Sullivan and comparing that depiction to historical accounts.
News · businessinsider.com · 2026-09-17Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Aggregate insider activity in the provided filings shows $136.1M sold and $0 bought over the 180-day window (net shares -1,526,624).
Form 4 · Peters Gregory K (Co-CEO) · $2.0M sold · 2026-08-06Gregory K. Peters (Co-CEO) sold 27,312 shares for $2.0M on 2026-08-06 (≈$73.27 per share); the filing does not list a 10b5-1 plan for this sale.
Form 4 · Peters Gregory K (Co-CEO) · $2.0M sold · 2026-08-06Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The analysis shows an implied free cash flow (FCF) growth rate of 0.1719 (17.19%) that today's price would justify under the stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closePrice to trailing‑12‑month free cash flow is 27.79 (price/FCF = 27.79) based on the provided TTM FCF and market price.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several company-reported items point to operational strength and shareholder-friendly capital allocation that together support a favorable read. Revenues and operating income rose quarter-to-quarter while the company materially increased share repurchases, reducing outstanding shares; long-term debt also declined and trailing P/E and reported trailing‑12‑month FCF are attractive versus the disclosed market price. The bear case relies heavily on quarter-to-quarter net income and EPS declines and on market-technical weakness and a proposed large acquisition; those observations are contestable here because operating income improved even as net income/EPS can reflect non‑operational or timing items, market sensitivity (beta/correlation) is low, and the disclosed WBD transaction is conditioned on approvals and includes termination risk. Independent sell-side coverage remains heavily weighted toward “buy” in the provided street consensus, and institutional ownership and ETF memberships show continued large investor exposure, which together bolster a constructive interpretation of the firm's current profile.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.36
38 surviving claims rest on 16 distinct sources; the heaviest analyst carries 21% of them, and 99% of what the desk raised survived the debate.
The evidence base is moderately broad (multiple sources) but leans on a small set of contributors; one analyst or source accounting for about one‑fifth of surviving claims introduces some concentration risk. The fact that 99% of raised items survived the internal debate suggests the desk found the items hard to dislodge, which raises the chance that remaining errors are systematic rather than random — treat these claims as informational and of moderate weight rather than definitive.
Peer context · computed, not argued
12-1 momentum ranks 9th of 10 in Entertainment (as of 2026-09-17).
90-day volatility ranks 5th of 10 in Entertainment (as of 2026-09-17).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
8 filings· 3 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.0 to the score
13 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−1.2 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.9 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
2 headlines
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
8 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.7 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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Institutional holders
Net institutional flow, Q/Q
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