Netflix has just enjoyed an amazing price run from about $190/share to a high of $333/share. The share price has fallen to about $290 now. It’s still wildly overpriced.
Let me explain. Profit is $559 million. There are 432 million shares outstanding. Earnings per share is $1.25. That’s a peak P/E (price to earnings) ratio of 264! As a comparison Walmart’s P/E in 2017 was 20.7.