The metric that Netflix uses is subscriber count, and all indications is that the subscriber count is not growing at a pace that explains the PE ratio. In fact

The metric that Netflix uses is subscriber count, and all indications is that the subscriber count is not growing at a pace that explains the PE ratio. In fact the growth is declining as evidenced by their guidance for the quarter. http://www.businessinsider.com/netflix-q4-earnings-report-analysis-subscribers-revenue-eps-2018-1 http://www.businessinsider.com/netflix-q4-earnings-report-an...