Netflix (NFLX) reported strong fourth-quarter 2025 earnings with projected revenues of $50.7-$51.7 billion for 2026, indicating a 12-14% growth rate, driven by membership gains and advertising revenues expected to reach $3 billion. Key highlights include a target operating margin of 31.5% and free cash flow guidance of approximately $6 billion. Conversely, Comcast (CMCSA) saw its paid Peacock subscribers increase by 22% to 44 million, but consolidated revenues grew just 1%, with adjusted EBITDA declining by 10% and earnings per share dropping 12% due to high content costs.
Netflix’s 2026 content lineup features popular originals like Peaky Blinders: The Immortal Man and One Piece Season 2, including a new Universal Pictures licensing deal. In comparison, Comcast’s Peacock has a limited slate, focusing on scripted series like The Paper, and faces pressure from intensifying competition in streaming. The consensus earnings estimate for Netflix is $3.12 per share, up 23.32% year-over-year, while Comcast’s is $3.68 per share, reflecting a 14.62% decline.
Despite Netflix’s recent stock decline of 35.8%, it trades at a forward price-to-sales ratio of 6.33x, compared to Comcast’s 0.93x, justified by Netflix’s stronger growth trajectory and expanding margins. Analysts recommend monitoring Netflix for investment opportunities, while Comcast continues to struggle with subscriber erosion and widening losses at Peacock.
