Netflix, Inc. vs Spotify Technology S.A., two Entertainment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Netflix and Spotify are the two big subscription-media platforms, one for video, one for audio, and the market prices both for growth. Netflix keeps more of each dollar, a 22.54% net margin against Spotify's 12.87%, and earns more on equity, 33.96% to 26.56%. Both trade at similar rich multiples of book, 10.17 at Netflix and 10.44 at Spotify, and both convert to cash at close rates, 3.76% and 3.3%. Spotify carries no debt; Netflix a light 0.46 times equity. Netflix is far larger at $316.5 billion to Spotify's $94.5 billion. Two lean streaming leaders priced for continued expansion.
Comparison updated 2026-07-11.
| Metric | NFLX | SPOT |
|---|---|---|
| Price | $73.38 | $479.98 |
| Market cap | $315.4B | $98.6B |
| Sector | Entertainment | Entertainment |
| Stage | Growth | Growth |
| Implied growth (priced in) | +21.6% | — |
| P/E | 23.7 | 41.0 |
| P/B | 10.13 | 10.89 |
| P/S | 6.73 | 5.28 |
| EV/EBITDA | 22.2 | 38.9 |
| Revenue growth | +16.7% | +15.6% |
| Gross margin | — | 32.0% |
| Operating margin | 32.3% | 12.8% |
| Net margin | 22.5% | 12.9% |
| Return on equity | 34.0% | 26.6% |
| Return on assets | 17.3% | 14.7% |
| Return on invested capital | 24.7% | 26.3% |
| FCF yield | 3.8% | 3.2% |
| Debt / equity | 0.46 | 0.00 |
| Current ratio | 1.41 | 1.72 |
| Altman Z (solvency) | 8.17 | 7.90 |
| Piotroski F (quality) | 6 / 9 | 6 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.