This is purely from a 30 second look, but if I had to make the case for Netflix being richly valued I'd go with: 1. Very high P/E ratio. Thus strong future gro

This is purely from a 30 second look, but if I had to make the case for Netflix being richly valued I'd go with: 1. Very high P/E ratio. Thus strong future growth is baked into price. So, a buyer of the stock today is already paying for strong growth. 2. Based on #1, the risk is higher as you're prepaying for future growth. And the future is uncertain. 3. Institutional ownership is already high, so you're more likely to see outflows than strong inflows. I don't like investing on this metric, but it does affect price during market fluctuations. 4. Price/Sales is high. 5. Low margin I don't trade much, but if I did I'd stay away due to the lack of shorts, thus no short squeeze to play. Of course, on the positive side it dominates its market, has strong growth, and generates free cash flow. Again, I did not do a genuine analysis so I could be way off on some of the above.