No qualifying author-owned investment thesis was confirmed in this post.
The author frames the analysis as a question rather than expressing their own directional investment judgment or intent to take a position.
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Netflix is trading at **\~26.1x forward P/E**, a level last seen in 2022–2023.
During that period, revenue growth averaged **mid-single digits**.
• 2022: 6.5%
• 2023: 6.7%
By contrast, 2025 revenue growth reached 15.8%, with consensus estimates projecting **growth well above 10%** in the coming years.
The valuation multiple has reverted to prior-cycle lows, while expected growth is double that of 2022–2023.
Does the current multiple accurately reflect Netflix’s earnings power and growth profile?