Netflix (NFLX) Earnings Forecast
Analysts expect Netflix (NFLX) to earn $3.58 a share in FY26, the average of 29 estimates as of Nov 7, 2026.
- FY26 consensus EPS
- $3.58
- 29 analysts
- FY27 consensus EPS
- $3.76
- 34 analysts · low $3.62, high $3.91
- EPS revisions, 30 days
- −0.4%
- $3.60 to $3.58
- Disagreement, FY26
- 2.5%
- high to low, $3.54 to $3.63
Consensus estimates only. Analysts' price forecasts and ratings are not licensed here.
Analysts expect Netflix to earn $6.31 a share in FY30, growing about 15% a year; 14 analysts publish an estimate for FY30.
Are estimates going up or down lately?
The FY26 EPS consensus is $3.58, down 0.4% in 90 days. Every figure compares one fiscal period at both ends.
EPS consensus, change over the last 90 days. One step per nightly change.
| EPS | 30 days | 90 daysshown above | Since Jul 4 |
|---|---|---|---|
| FY2629 analysts | ▼ −0.4%$3.60 to $3.58 | ▼ −0.4%$3.60 to $3.58 | ▲ +0.6%$3.56 to $3.58 |
| FY2734 analysts | ▼ −1.1%$3.80 to $3.76 | ▼ −1.5%$3.82 to $3.76 | ▼ −2.0%$3.84 to $3.76 |
| Sep '2624 analysts | ◆ 0.0%$0.82 to $0.82 | ◆ 0.0%$0.82 to $0.82 | ▼ −2.4%$0.84 to $0.82 |
| Dec '2622 analysts | ▼ −7.6%$0.73 to $0.68 | 84 of 90 days−7.5% so far | ▼ −7.5%$0.73 to $0.68 |
Contributors at both ends of the window: FY26 30 and 29. A change in the average can come from a new contributor as much as from a changed mind, so both counts stay in view.
Measured between two of our own nightly snapshots of one fiscal period, so a new fiscal year entering the view is never read as a revision. Never backfilled. A window still filling says how many days it holds; a blank one means our record is not that long yet.
If the Street is right, what does that imply for the share price?
At 18.4 times earnings, which is what Netflix trades at today, the FY27 consensus of $3.76 works out to $69 a share.
Range on the low and high estimate: $66 to $72.
Each point on the line is a multiple, and the flag is the price it implies for FY27. Past multiples are context, not a guide to future ones.
This is multiplication, not a forecast. It assumes the market pays the multiple you chose and that the consensus is right. Both are often wrong.
What you pay for the growth
You are paying 17.7 times the FY26 consensus for earnings the Street expects to grow about 12% a year to FY28. That is 1.5 times the growth rate.Show today's multiple against its own recordHide the multiple record
How much do analysts disagree?
For FY30, estimates run from $6.20 to $6.42 around an average of $6.31, drawn by 14 analysts.
The dashed line is FY25 filed $2.53, on the GAAP basis.
A wide spread is disagreement, not risk; a narrow one is agreement, not accuracy. Later years are always wider because fewer people forecast them. Bars in amber rest on fewer than 15 analysts. The tick on each bar is the average.
Is next quarter a high bar or an easy one?
Analysts expect Netflix to earn $0.82 a share in the September quarter, the average of 24 estimates. Results are expected by Jan 20, 2027. Last quarter, which ended in September, Netflix earned $0.87 a share. Analysts had expected $0.82, so it came in 6.0% higher.
low $0.81
The step from a filed quarter to a consensus crosses bases: the filed figure is the company's own GAAP number and the consensus is on the Street's basis. It is printed with both bases named, not as growth. For the December quarter, analysts expect $0.68 a share.
Does Netflix usually beat or miss?
So far we have checked 2 quarters, of which 2 came in above the estimate we held. We add a quarter to this record each time Netflix reports. The next report is expected by Jan 20, 2027.
We started recording estimates on Jul 4, 2026, so quarters that reported before that date cannot be checked.
−7.3%
−5.3%
Checked against the company's reported figure (GAAP) and the average estimate we recorded the night before its results release. Where analysts' number is on an adjusted basis, we leave the comparison out rather than force it. We started recording estimates for Netflix on Jul 4, 2026, so earlier quarters cannot be checked, and we never fill them in after the fact.
Where the growth comes from
The Street expects sales to grow 10.6% in FY27 and EPS 4.9%. Sales do all of it and the other two take some back: the net margin moves from 30.3% to 28.7%, and the implied share count from about 4.32B to 4.32B, so these numbers assume the count stands still.Show the decomposition and the margin ladderHide the decomposition
| Revenue growth | +10.6 |
|---|---|
| Net margin change | −5.7 |
| Share count change | 0.0 |
| EPS growth | +4.9 |
Coverage, and the gap to the filing
29 analysts publish an EPS estimate for FY26 and 32 publish revenue. Coverage thins with distance: 14 EPS estimates for FY30. Consensus figures are on the Street's basis and filed figures are GAAP; we label the gap, we do not explain it away.Show coverage by year and over timeHide the coverage chart
The full consensus, year by year
Coverage thins with distance: 32 revenue estimates for FY26, 17 for FY30.
Out-year bands widen as fewer analysts publish: 29 EPS estimates for FY26, 14 for FY30.
| Fiscal year | Revenue $B | YoY | EPS $ | YoY | EBITDA $B | Net inc. $B | Shares B | Analysts rev · EPS | Fwd P/E |
|---|---|---|---|---|---|---|---|---|---|
| FY25Filed | 45.2 | — | 2.53 | — | — | — | — | as filed | 18.4× |
| FY26E | 51.151.1 to 51.3 | ▲13.2%a | 3.583.54 to 3.63 | ▲41.7%a | 32.1 | 15.5 | 4.32 | 32 · 29 | 17.7× |
| FY27E | 56.655.9 to 57.7 | ▲10.6% | 3.763.62 to 3.91 | ▲4.9% | 30.5 | 16.3 | 4.32 | 35 · 34 | 16.9× |
| FY28E | 62.160.0 to 64.0 | ▲9.7% | 4.473.96 to 4.98 | ▲18.9% | 30.5 | 18.0 | 4.03 | 34 · 31 | 14.2× |
| FY29E | 67.666.7 to 68.5 | ▲8.9% | 5.355.26 to 5.44 | ▲19.7% | 34.7 | 23.1 | 4.32 | 30 · 24 | 11.9× |
| FY30E | 72.871.8 to 73.7 | n/cb | 6.316.20 to 6.42 | n/cb | 38.2 | 27.2 | 4.32 | 17 · 14 | 10.0× |
Average estimate with low to high beneath. Amber counts mark thin coverage and thin rows carry an amber rule. Shares = consensus net income ÷ consensus EPS, a direction rather than a decimal. The filed row's last column is today's price over the last four reported quarters, the one trailing multiple in that column. a This step crosses the seam: last year is a filed GAAP actual and this year is a consensus estimate, so the two are not prepared on one basis. b More than a third of the analyst panel changed between these two years, so the difference of the two averages measures the panel rather than the forecast.
Analysts' price forecasts and grades are not licensed here. This page shows forward consensus estimates only: 29 EPS estimates for FY26, 32 for revenue. Not investment advice.
Common questions
What do analysts expect Netflix to earn in FY26?
Analysts expect Netflix to earn $3.58 a share in FY26, the average of 29 estimates as of Nov 7, 2026.
What is Netflix's earnings forecast for FY27?
The FY27 consensus for Netflix is $3.76 a share from 34 analysts, with a low of $3.62 and a high of $3.91, as of Nov 7, 2026.
Have analysts raised Netflix's earnings estimates?
Netflix's FY26 EPS consensus fell 0.4% in 90 days, from $3.60 to $3.58, as of Nov 7, 2026.