NFLX
Netflix, Inc.
NFLX has the edge over TKO overall, supported by stronger valuation and stronger modeled upside.
TKO
TKO Group Holdings, Inc.
TKO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
NFLX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
NFLX's revenue, profitability, cash flow and balance sheet are all currently healthy.
TKO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Stable |
TKO's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
NFLX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $62.69 | — |
| Current | 18x | $62.69 | — |
| Cheap | 27x | $94.95 | +51% |
| Fair | 47x | $161 | +157% |
| Expensive | 81x | $281 | +348% |
Historical ranges are pointers, not guarantees.
NFLX has the edge over TKO in the historical PE scenario, which offers more potential upside but is not a forecast.
TKO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 26x | $194 | — |
| Current | 52x | $194 | — |
| Cheap | 65x | $243 | +25% |
| Fair | 78x | $290 | +49% |
| Expensive | 88x | $325 | +68% |
Historical ranges are pointers, not guarantees.
TKO's PE is in its cheap range at 52x. If earnings grow as analysts expect, today's price would be 26x next year's earnings.
NFLX Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for NFLX, with profitability improving.
TKO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
TKO has the edge over NFLX on the outlook, with more favorable valuation expectations.
NFLX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.58 | +3.5% |
| Q3 2026 | $3.46 | +45% |
| Q2 2026 | $3.18 | +35% |
| Q1 2026 | $3.10 | +46% |
| Q4 2025 | $2.53 | +28% |
| Q3 2025 | $2.39 | +35% |
| Q2 2025 | $2.35 | +47% |
| Q1 2025 | $2.12 | +47% |
| Q4 2024 | $1.98 | +65% |
NFLX has the edge over TKO on earnings, with more consistent year-over-year improvement.
TKO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.51 | +102% |
| Q3 2026 | $3.71 | +42% |
| Q2 2026 | $2.85 | +18% |
| Q1 2026 | $2.68 | +36% |
| Q4 2025 | $2.25 | +11150% |
| Q3 2025 | $2.61 | +$3.26 |
| Q2 2025 | $2.42 | +$3.61 |
| Q1 2025 | $1.97 | +$3.21 |
| Q4 2024 | $0.02 | -98% |
TKO earned $3.71 per share over the past year, up 42% from the year before.
NFLX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.9B | +12% |
| Q2 2026 | $12.6B | +13% |
| Q1 2026 | $12.2B | +16% |
| Q4 2025 | $12.1B | +18% |
| Q3 2025 | $11.5B | +17% |
| Q2 2025 | $11.1B | +16% |
| Q1 2025 | $10.5B | +13% |
| Q4 2024 | $10.2B | +16% |
NFLX's revenue has grown year over year every quarter since late 2020: $12.9B last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | +6.4 points |
| Q2 2026 | 33% | -0.7 points |
| Q1 2026 | 32% | +0.5 points |
| Q4 2025 | 25% | +2.4 points |
| Q3 2025 | 28% | -1.4 points |
| Q2 2025 | 34% | +6.8 points |
| Q1 2025 | 32% | +3.7 points |
| Q4 2024 | 22% | +5.2 points |
NFLX has the edge over TKO on profitability, with a higher operating margin.
TKO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +21% |
| Q2 2026 | $1.5B | +18% |
| Q1 2026 | $1.6B | +26% |
| Q4 2025 | $1B | +62% |
| Q3 2025 | $1.1B | +64% |
| Q2 2025 | $1.3B | +54% |
| Q1 2025 | $1.3B | +101% |
| Q4 2024 | $642.2M | +4.6% |
TKO has the edge over NFLX on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 28% | +12 points |
| Q2 2026 | 28% | -0.4 points |
| Q1 2026 | 21% | +2.5 points |
| Q4 2025 | 5.5% | -10 points |
| Q3 2025 | 15% | -4.7 points |
| Q2 2025 | 28% | -1.8 points |
| Q1 2025 | 19% | +52 points |
| Q4 2024 | 16% | +5.6 points |
TKO's operating margin was 28% last quarter, up 12 points from the same quarter a year ago.
NFLX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.9B | +8.4% |
| Q2 2026 | $1.5B | -33% |
| Q1 2026 | $5.1B | +91% |
| Q4 2025 | $1.9B | +36% |
| Q3 2025 | $2.7B | +21% |
| Q2 2025 | $2.3B | +87% |
| Q1 2025 | $2.7B | +25% |
| Q4 2024 | $1.4B | -13% |
NFLX generated $11.4B in free cash flow over the past year, up 27% from the year before.
TKO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $472.2M | +13% |
| Q2 2026 | $373.9M | -5.6% |
| Q1 2026 | $694.5M | +327% |
| Q4 2025 | $309.9M | +445% |
| Q3 2025 | $416.8M | +76% |
| Q2 2025 | $396.2M | +72% |
| Q1 2025 | $162.8M | +174% |
| Q4 2024 | $56.8M | -74% |
TKO has the edge over NFLX on cash flow, with stronger typical year-over-year growth.
NFLX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.6% | -66.2M shares |
| 1 year | -3.3% | -145M shares |
| 3 years | -6.8% | -305M shares |
| 5 years | -7.8% | -354M shares |
| Available history | -7.1% | -323M shares |
NFLX has 4.2B diluted shares, down 3.3% from a year ago, with $12.9B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.8B |
| Q2 2026 | $4.7B |
| Q1 2026 | $1.3B |
| Q4 2025 | $2.1B |
| Q3 2025 | $1.9B |
| Q2 2025 | $1.7B |
| Q1 2025 | $3.5B |
| Q4 2024 | $963.7M |
NFLX spent $12.9B buying back its own shares over the past year, up 61% from the year before.
TKO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.3% | -1.7M shares |
| 1 year | -63% | -125M shares |
| 3 years | -11% | -9M shares |
| 5 years | -12% | -10.1M shares |
TKO has the edge over NFLX on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $156.1M |
| Q2 2026 | $129.3M |
| Q1 2026 | $838.3M |
| Q4 2025 | $40.7M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2023 | — |
| Q1 2023 | — |
TKO spent $1.2B buying back its own shares over the past year.
NFLX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.4x | Very low |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.7x | Very low |
NFLX has the edge over TKO on leverage, with a lower net debt burden relative to earnings.
TKO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.4x | Moderate |
| Q2 2026 | 2.7x | Moderate |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 2.2x | Moderate |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 2.1x | Moderate |
| Q4 2024 | 3.3x | Elevated |
TKO's net debt is about 2.4 years of its operating earnings (EBITDA), about the same as a year ago.
NFLX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.2 | Neutral |
| Stochastic | 6.0 | Oversold |
NFLX's weekly RSI is 33 (neutral) and its Stochastic is 6 (oversold).
TKO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.3 | Neutral |
| Stochastic | 56.1 | Neutral |
TKO's weekly RSI is 54 (neutral) and its Stochastic is 56 (neutral).
NFLX PE vs Communication Services Sector
| Metric | NFLX | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 16x | 9.8% above |
| PE % | 4 | 26 | 22 pts below |
NFLX has the edge over TKO on valuation relative to its sector.
TKO PE vs Communication Services Sector
| Metric | TKO | Sector median | Relative |
|---|---|---|---|
| PE | 52x | 16x | 217% above |
| PE % | 7 | 24 | 17 pts below |
TKO is trading at 52x earnings, a 217% premium to the Communication Services sector's median of 16x.
NFLX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $66.6 | 5.9% below |
| 20 week MA | $71.8 | 13% below |
| 50 week MA | $82.4 | 24% below |
| 100 week MA | $96.0 | 35% below |
| 200 week MA | $74.4 | 16% below |
TKO has stronger trend alignment. NFLX is above 0 of 5 weekly averages versus TKO above 3 of 4.
TKO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $181.3 | 7% above |
| 20 week MA | $185.4 | 4.7% above |
| 50 week MA | $195.0 | 0.5% below |
| 100 week MA | $181.5 | 6.9% above |
TKO's trend is mixed: it's above three of its four weekly moving averages, and 6.9% above its 100-week average.
NFLX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.9 | $51.4 | +56% |
| 2021 | $51.4 | $61.4 | +19% |
| 2022 | $61.4 | $29.5 | -52% |
| 2023 | $29.5 | $48.7 | +65% |
| 2024 | $48.7 | $90.8 | +86% |
| 2025 | $90.8 | $94.5 | +4.1% |
| 2026 YTD | $94.5 | $62.7 | -34% |
NFLX is down 34% so far in 2026, after finishing higher in five of the previous six years.
TKO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $98.1 | $81.6 | -17% |
| 2024 | $81.6 | $144.0 | +77% |
| 2025 | $144.0 | $217.4 | +51% |
| 2026 YTD | $217.4 | $194.1 | -11% |
TKO has the edge over NFLX on returns for 2026, with the stronger performance.