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EBITDA minus CAPEX Margin for Netflix Inc

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NFLX: Netflix Inc

Netflix, Inc. provides entertainment services. The company offers television (TV) series, documentaries, feature films, and games across various genres and languages. It also provides members the abil...

918.00 USD
Price
USD
Fair Value
Upside
542.01 - 1,064.50
52-week range

Analysis

Fiscal Years
Trailing Twelve Months
Fiscal Halfs
Fiscal Quarters
Daily
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The following section summarizes insights on Netflix Inc's EBITDA minus CAPEX Margin:

Dec 2016Dec 2018Dec 2020Dec 2022Dec 202410.0%20.0%30.0%

Performance Summary
  • Netflix's latest twelve months ebitda minus capex margin is 26.4%
  • Netflix's ebitda minus capex margin for fiscal years ending December 2020 to 2024 averaged 20.3%.
  • Netflix's operated at median ebitda minus capex margin of 19.8% from fiscal years ending December 2020 to 2024.
  • Looking back at the last 5 years, Netflix's ebitda minus capex margin peaked in December 2024 at 26.4%.
  • Netflix's ebitda minus capex margin hit its 5-year low in December 2020 of 16.8%.
  • Netflix's ebitda minus capex margin decreased in 2022 (17.6%, -11.1%) and increased in 2020 (16.8%, +38.1%), 2021 (19.8%, +17.7%), 2023 (20.6%, +17.4%), and 2024 (26.4%, +28.0%).

Benchmarks

Metric Usage: EBITDA minus CAPEX Margin

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ebitda_less_capex_margin
Slug
number
Datatype
text
Format
current
Default Period
FY, Q, LTM, YTD
Periods Supported
Free
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EBITDA minus CAPEX Margin

Earnings before interest, taxes, depreciation and amortization (EBITDA) minus capital expenditures expressed as a percent of revenue.

Definition of EBITDA minus CAPEX Margin

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The ebitda - capex margin measures a company’s ebitda - capex as a percentage of the revenue. The formula to calculate ebitda minus capex margin and an example calculation for Netflix’s trailing twelve months is outlined below:

EBITDA minus CAPEX Margin  = EBITDA - CAPEX / Total Revenue
26.4% = 10.307 B  /  39.001 B

The tables below summarizes Netflix’s performance over the last five years:

Fiscal YearEBITDA - CAPEXRevenueMargin
2020-12-314.203 B24.996 B16.8%
2021-12-315.878 B29.698 B19.8%
2022-12-315.562 B31.616 B17.6%
2023-12-316.962 B33.723 B20.6%
2024-12-3110.307 B39.001 B26.4%

The tables below summarizes Netflix’s performance over the last four quarters:

Quarter EndingEBITDA - CAPEXRevenueMargin
2024-03-312.644 B9.37 B28.2%
2024-06-302.606 B9.559 B27.3%
2024-09-302.864 B9.825 B29.1%
2024-12-312.194 B10.247 B21.4%

You can read more about EBITDA - CAPEX here.


Click the link below to download a spreadsheet with an example EBITDA minus CAPEX Margin calculation for Netflix Inc below:

Sector Benchmark Analysis

Sector
Industry Group
Industry
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-791.1%-491.1%52.7%0200400600

The chart above depicts the distribution of ebitda minus capex margin for companies operating in the Communication Services sector in the Developed economic region. Over 1,120 companies were considered in this analysis, and 1,083 had meaningful values. The average ebitda minus capex margin of companies in the sector is -11.3% with a standard deviation of 74.0%.

Netflix Inc's EBITDA minus CAPEX Margin of 26.4% ranks in the 92.4% percentile for the sector. The following table provides additional summary stats:

EBITDA minus CAPEX Margin In The Communication Services Sector
Economic Risk RegionDeveloped
Total Constituents1,129
Included Constituents1,083
Min-775.0%
Max47.3%
Median5.0%
Mean-11.3%
Standard Deviation74.0%

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