NFLX vs. TPL

Last updated Jul 21, 2026

NFLX (Netflix, Inc.) and TPL (Texas Pacific Land Corporation) are both stocks. NFLX operates in Entertainment (Communication Services), while TPL operates in Oil & Gas E&P (Energy). Over the past 10 years, NFLX returned 22.91%/yr vs 37.28%/yr for TPL. At a 0.10 correlation, their price movements are largely independent.

Performance

NFLX vs. TPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Netflix, Inc. (NFLX) and Texas Pacific Land Corporation (TPL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFLX achieves a -27.90% return, which is significantly lower than TPL's 41.69% return. Over the past 10 years, NFLX has underperformed TPL with an annualized return of 22.91%, while TPL has yielded a comparatively higher 37.28% annualized return.

NFLX

• 1D: -1.96%
• 1M: -12.64%
• 6M: -23.18%
• YTD: -27.90%
• 1Y: -44.10%
• 3Y*: 16.50%
• 5Y*: 5.65%
• 10Y*: 22.91%
• ALL TIME*: 30.17%

TPL

• 1D: -2.36%
• 1M: 14.29%
• 6M: 20.59%
• YTD: 41.69%
• 1Y: 22.88%
• 3Y*: 36.95%
• 5Y*: 20.54%
• 10Y*: 37.28%
• ALL TIME*: 20.04%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NFLX vs. TPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NFLX Netflix, Inc.	-27.90%	5.19%	83.07%	65.11%	-51.05%	11.41%	67.11%	20.89%	39.44%	55.06%
TPL Texas Pacific Land Corporation	41.69%	-21.61%	115.31%	-32.40%	91.29%	73.25%	-4.69%	44.58%	21.96%	51.18%

Correlation

The correlation between NFLX and TPL is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since May 23, 2002	0.10

The correlation between NFLX and TPL shifts across timeframes, from -0.11 (1 year) to 0.13 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NFLX : $284.65B TPL : $27.99B
EPS NFLX : $3.17 TPL : $7.30
PE Ratio NFLX : 21.32 TPL : 55.63
PEG Ratio NFLX : 0.84 TPL : 2.94
PS Ratio NFLX : 6.02 TPL : 33.39
PB Ratio NFLX : 9.55 TPL : 18.00
Total Revenue (TTM) NFLX : $48.37B TPL : $839.03M
Gross Profit (TTM) NFLX : $23.76B TPL : $625.27M
EBITDA (TTM) NFLX : $30.55B TPL : $690.06M

Return for Risk

NFLX vs. TPL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NFLX

NFLX Risk / Return Rank: 3
NFLX Sharpe Ratio Rank: 2
NFLX Sortino Ratio Rank: 3
NFLX Omega Ratio Rank: 4
NFLX Calmar Ratio Rank: 5
NFLX Martin Ratio Rank: 3

TPL

TPL Risk / Return Rank: 61
TPL Sharpe Ratio Rank: 62
TPL Sortino Ratio Rank: 59
TPL Omega Ratio Rank: 59
TPL Calmar Ratio Rank: 61
TPL Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NFLX vs. TPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Netflix, Inc. (NFLX) and Texas Pacific Land Corporation (TPL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NFLX	TPL	Difference
Sharpe ratio: Return per unit of total volatility	-1.27	0.48	-1.76
Sortino ratio: Return per unit of downside risk	-1.98	0.98	-2.96
Omega ratio: Gain probability vs. loss probability	0.75	1.13	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.95	0.67	-1.62
Martin ratio: Return relative to average drawdown	-1.76	1.49	-3.26

NFLX vs. TPL - Sharpe Ratio Comparison

The current NFLX Sharpe Ratio is -1.27, which is lower than the TPL Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of NFLX and TPL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NFLX vs. TPL - Drawdown Comparison

The maximum NFLX drawdown since its inception was -81.99%, which is greater than TPL's maximum drawdown of -73.05%. Use the drawdown chart below to compare losses from any high point for NFLX and TPL.

Drawdown Indicators

	NFLX	TPL	Difference
Max Drawdown Largest peak-to-trough decline	-81.99%	-73.05%	-8.94%
Max Drawdown (1Y) Largest decline over 1 year	-46.49%	-34.23%	-12.26%
Max Drawdown (3Y) Largest decline over 3 years	-49.52%	-52.22%	+2.70%
Max Drawdown (5Y) Largest decline over 5 years	-75.95%	-52.50%	-23.45%
Max Drawdown (10Y) Largest decline over 10 years	-75.95%	-65.46%	-10.49%
Current Drawdown Current decline from peak	-49.52%	-28.92%	-20.60%
Average Drawdown Average peak-to-trough decline	-24.98%	-27.27%	+2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.06%	15.40%	+9.66%

Volatility

NFLX vs. TPL - Volatility Comparison

Netflix, Inc. (NFLX) has a higher volatility of 13.34% compared to Texas Pacific Land Corporation (TPL) at 11.61%. This indicates that NFLX's price experiences larger fluctuations and is considered to be riskier than TPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFLX	TPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.34%	11.61%	+1.73%
Volatility (6M) Calculated over the trailing 6-month period	27.81%	37.08%	-9.27%
Volatility (1Y) Calculated over the trailing 1-year period	34.79%	47.66%	-12.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.50%	46.23%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.38%	47.27%	-5.89%

Dividends

NFLX vs. TPL - Dividend Comparison

NFLX has not paid dividends to shareholders, while TPL's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NFLX Netflix, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TPL Texas Pacific Land Corporation	0.56%	0.74%	1.37%	0.83%	1.37%	0.88%	2.20%	0.22%	0.55%	0.30%	0.10%	0.22%

Financials

NFLX vs. TPL - Profitability Comparison

The chart below illustrates the profitability comparison between Netflix, Inc. and Texas Pacific Land Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Portfolio components

NFLX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Netflix, Inc. reported a gross profit of 6.52B and revenue of 12.56B. Therefore, the gross margin over that period was 51.9%.

TPL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Texas Pacific Land Corporation reported a gross profit of 0.00 and revenue of 236.82M. Therefore, the gross margin over that period was 0.0%.

NFLX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Netflix, Inc. reported an operating income of 4.19B and revenue of 12.56B, resulting in an operating margin of 33.4%.

TPL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Texas Pacific Land Corporation reported an operating income of 182.33M and revenue of 236.82M, resulting in an operating margin of 77.0%.

NFLX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Netflix, Inc. reported a net income of 3.40B and revenue of 12.56B, resulting in a net margin of 27.1%.

TPL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Texas Pacific Land Corporation reported a net income of 142.90M and revenue of 236.82M, resulting in a net margin of 60.3%.

Frequently Asked Questions

Can I hold both NFLX and TPL in my portfolio?

NFLX and TPL have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFLX or TPL?

NFLX has higher volatility (13.34%) compared to TPL (11.61%). In terms of maximum drawdown, NFLX dropped -81.99% vs TPL's -73.05%.

Which has better risk-adjusted returns?

TPL currently has the higher Sharpe Ratio (0.48 vs -1.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.