NFLX
Netflix, Inc.
NFLX has a slight edge over WMG overall, supported by stronger valuation and stronger modeled upside.
WMG
Warner Music Group Corp.
WMG'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.
WMG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Stable |
WMG'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's PE is in its cheap range at 18x. If earnings grow as analysts expect, today's price would be 17x next year's earnings.
WMG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $31.67 | — |
| Current | 25x | $31.67 | — |
| Cheap | 31x | $39.57 | +25% |
| Fair | 36x | $46.67 | +47% |
| Expensive | 44x | $57.23 | +81% |
Historical ranges are pointers, not guarantees.
WMG has the edge over NFLX in the historical PE scenario, which offers more potential upside but is not a forecast.
NFLX Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for NFLX, with profitability improving.
WMG Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
WMG 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 WMG on earnings, with more consistent year-over-year improvement.
WMG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.72 | +33% |
| Q2 2026 | $1.29 | +126% |
| Q1 2026 | $0.87 | +1.2% |
| Q4 2025 | $0.59 | -39% |
| Q3 2025 | $0.70 | -15% |
| Q2 2025 | $0.57 | -45% |
| Q1 2025 | $0.86 | -16% |
| Q4 2024 | $0.97 | +6.6% |
| Q3 2024 | $0.82 | -3.5% |
WMG earned $1.29 per share over the past year, up 126% 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 has the edge over WMG on sales, with more consistent year-over-year improvement.
| 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 WMG on profitability, with a higher operating margin.
WMG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.9B | +10% |
| Q1 2026 | $1.7B | +17% |
| Q4 2025 | $1.8B | +10% |
| Q3 2025 | $1.9B | +15% |
| Q2 2025 | $1.7B | +8.7% |
| Q1 2025 | $1.5B | -0.7% |
| Q4 2024 | $1.7B | -4.7% |
| Q3 2024 | $1.6B | +2.8% |
WMG's revenue has grown year over year for five quarters in a row: $1.9B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 16% | +6.3 points |
| Q1 2026 | 16% | +4.3 points |
| Q4 2025 | 18% | +4.9 points |
| Q3 2025 | 7.7% | -1.1 points |
| Q2 2025 | 10% | -3.3 points |
| Q1 2025 | 11% | +3.4 points |
| Q4 2024 | 13% | -7.4 points |
| Q3 2024 | 8.8% | -4.6 points |
WMG's operating margin was 16% last quarter, up 6.3 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 WMG on cash flow, with more consistent year-over-year improvement.
WMG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $114M | +1529% |
| Q1 2026 | $107M | +$153M |
| Q4 2025 | $390M | +32% |
| Q3 2025 | $203M | -1.9% |
| Q2 2025 | $7M | -96% |
| Q1 2025 | -$46M | +$34M |
| Q4 2024 | $296M | +44% |
| Q3 2024 | $207M | -13% |
WMG generated $814M in free cash flow over the past year, up 75% 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 WMG 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.
WMG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1% | +5.4M shares |
| 1 year | +0.6% | +3.2M shares |
| 3 years | +1.6% | +8.5M shares |
| 5 years | +2% | +10.1M shares |
| Available history | +4.5% | +22.4M shares |
WMG has 524M diluted shares, up 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $48M |
| Q1 2026 | $22M |
| Q4 2025 | $26M |
| Q3 2025 | $13M |
| Q2 2025 | $1M |
| Q1 2025 | $17M |
| Q4 2024 | $2M |
| Q3 2024 | — |
WMG spent $109M buying back its own shares over the past year, about five times what it spent 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 has the edge over WMG on leverage, with a lower net debt burden relative to earnings.
WMG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 3.0x | Moderate |
| Q1 2026 | 3.6x | Elevated |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 4.0x | Elevated |
| Q2 2025 | 4.3x | High |
| Q1 2025 | 3.5x | Elevated |
| Q4 2024 | 3.0x | Moderate |
| Q3 2024 | 3.3x | Elevated |
WMG's net debt is about 3.0 years of its operating earnings (EBITDA), down from 4.3 years 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).
WMG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.0 | Neutral |
| Stochastic | 80.8 | Overbought |
WMG's weekly RSI is 60 (neutral) and its Stochastic is 81 (overbought).
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 WMG on valuation relative to its sector.
WMG PE vs Communication Services Sector
| Metric | WMG | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 16x | 49% above |
| PE % | 2 | 25 | 23 pts below |
WMG is trading at 25x earnings, a 49% 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 |
NFLX is in a downtrend: it's below all five of its weekly moving averages, and 16% below its 200-week average.
WMG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 6.2% above |
| 20 week MA | $28.5 | 11% above |
| 50 week MA | $28.9 | 9.6% above |
| 100 week MA | $29.9 | 6% above |
| 200 week MA | $30.8 | 2.9% above |
WMG 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 is down 34% so far in 2026, after finishing higher in five of the previous six years.
WMG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.9 | $37.5 | +25% |
| 2021 | $37.5 | $43.5 | +16% |
| 2022 | $43.5 | $35.6 | -18% |
| 2023 | $35.6 | $35.8 | +0.5% |
| 2024 | $35.8 | $31.5 | -12% |
| 2025 | $31.5 | $30.0 | -4.8% |
| 2026 YTD | $30.0 | $31.7 | +5.7% |
WMG has the edge over NFLX on returns for 2026, with the stronger performance.