Netflix grew by 7M ~net subscribers in the quarter. Acquiring each one has a cost. Due to churn, the *gross* acquisition rate was higher. NFLX does not release churn or acquisition cost so you must be a detective to find an answer. Watch people guess here: marketwatch.com/amp/story/guid…
You can't value Netflix with a P/E ratio because it is growing and an up front acquisition cost is required. Some subscriptions create value and some do not. If you are able to determine the difference, you can create an analytical and informational edge. But work is required.
I have written two blog posts on Reed Hastings and Netflix. google.com/amp/s/25iq.com… and google.com/amp/s/25iq.com… Without high confidence that your guess on churn and acquisition costs is roughly accurate, you can't calculate a valuation that's any more than a SWAG (silly wild...).
