NFLX
Netflix, Inc.
NFLX has the edge over TME overall, supported by stronger valuation and stronger modeled upside.
TME
Tencent Music Entertainment Group
TME's outlook is improving, though it still trails on the overall score.
NFLX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
NFLX's revenue, profitability, cash flow and balance sheet are all currently healthy.
TME Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
TME's profitability, cash flow and balance sheet are currently strong, and its revenue 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 TME in the historical PE scenario, which offers more potential upside but is not a forecast.
TME PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 11x | $9.02 | — |
| Cheap | 12x | $9.60 | +6.4% |
| Fair | 32x | $26.45 | +193% |
| Expensive | 52x | $43.01 | +377% |
Historical ranges are pointers, not guarantees.
TME's PE is 11x, but its earnings don't support one, so it isn't a reliable read right now.
NFLX Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
NFLX has the edge over TME on the outlook, with more favorable profitability expectations.
TME Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for TME, with profitability holding steady.
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's earnings per share have climbed steadily: $3.46 over the past year, up 45% from the year before, and higher year over year for 12 quarters in a row.
TME Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.83 | -16% |
| Q1 2026 | $0.82 | -11% |
| Q4 2025 | $1.04 | +63% |
| Q3 2025 | $1.05 | +81% |
| Q2 2025 | $0.99 | +83% |
| Q1 2025 | $0.92 | +84% |
| Q4 2024 | $0.64 | +36% |
| Q3 2024 | $0.58 | +29% |
TME earned $0.83 per share over the past year, down 16% from the year before. Its recent earnings include one-off gains.
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 has the edge over TME on sales, with stronger typical year-over-year growth.
| 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 TME on profitability, with a higher operating margin.
TME Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.3B | +5.8% |
| Q1 2026 | $1.2B | +6.7% |
| Q4 2025 | $1.2B | +3.8% |
| Q3 2025 | $1.3B | +21% |
| Q2 2025 | $1.3B | +18% |
| Q1 2025 | $1.1B | +8.7% |
| Q4 2024 | $1.1B | +8.2% |
| Q3 2024 | $1.1B | +6.8% |
TME's revenue has grown year over year for eight quarters in a row: $1.3B last quarter, up 5.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 34% | -1.3 points |
| Q1 2026 | 30% | -36 points |
| Q4 2025 | 34% | +1.5 points |
| Q3 2025 | 32% | +1.5 points |
| Q2 2025 | 35% | +4.6 points |
| Q1 2025 | 66% | +37 points |
| Q4 2024 | 32% | +7.4 points |
| Q3 2024 | 31% | +8.9 points |
TME's operating margin was 34% last quarter, down 1.3 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 has the edge over TME on cash flow, with more consistent year-over-year improvement.
TME Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $429.8M | +75% |
| Q1 2026 | $350M | -7.4% |
| Q4 2025 | $0 | -100% |
| Q3 2025 | $552.7M | +70% |
| Q2 2025 | $245.8M | -44% |
| Q1 2025 | $378M | -6.2% |
| Q4 2024 | $324.3M | +19% |
| Q3 2024 | $324.9M | +50% |
TME's free cash flow has been positive every quarter for seven years: $1.3B over the past year, up 4.7% from the year before.
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 the edge over TME on shareholder dilution, with a more favorable share count trend.
| 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.
TME Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.3% | +4.2M shares |
| 3 years | -1.8% | -28.7M shares |
| 5 years | -7.8% | -132M shares |
| Available history | -6.6% | -110M shares |
TME has 1.6B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $97.8M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $321.5M |
| Q3 2024 | — |
TME spent $98M buying back its own shares over the past year, down 70% from the year before.
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's net debt is less than a year of its operating earnings (EBITDA).
TME Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.5x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -0.3x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.7x | Net Cash |
| Q4 2024 | -0.9x | Net Cash |
| Q3 2024 | -0.6x | Net Cash |
TME has the edge over NFLX on leverage, with a lower net debt burden relative to earnings.
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).
TME Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.0 | Neutral |
| Stochastic | 58.8 | Neutral |
TME's weekly RSI is 47 (neutral) and its Stochastic is 59 (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 is trading at 18x earnings, in line with the Communication Services sector's median of 16x.
TME PE vs Communication Services Sector
| Metric | TME | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 16x | 34% below |
| PE % | 12 | 26 | 14 pts below |
TME has the edge over NFLX on valuation relative to its sector.
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 |
NFLX is in a downtrend: it's below all five of its weekly moving averages, and 16% below its 200-week average.
TME Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.58 | 5.1% above |
| 20 week MA | $8.67 | 4% above |
| 50 week MA | $11.2 | 19% below |
| 100 week MA | $14.4 | 37% below |
| 200 week MA | $12.0 | 25% below |
TME has the edge over NFLX on trend strength, trading above more of its moving averages.
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 has the edge over TME on returns for 2026, with the stronger performance.
TME Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.9 | $18.9 | +58% |
| 2021 | $18.9 | $6.50 | -66% |
| 2022 | $6.50 | $8.06 | +24% |
| 2023 | $8.06 | $9.01 | +12% |
| 2024 | $9.01 | $11.7 | +30% |
| 2025 | $11.7 | $17.6 | +50% |
| 2026 YTD | $17.6 | $9.02 | -49% |
TME is down 49% so far in 2026, after finishing higher in five of the previous six years.