Tobias Carlisle - A Modern Walter Schloss
The Business Brew
00:00
How to Value Your Business
Netflix isn't going to trade at a 10% free cash flow multiple you're talking about a subscription business with global scale. The return on invested capital in these things is just comical it's like 1000% 1600%. Like there's just nothing in their business. It's all through the income statement right so once the cash flow drops out they don't really need the traditional working capital and PP any of the normal business would.
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