$1,000 Invested in Netflix (NFLX) at the Start of 2026 Is Worth This Much Today

Netflix (NFLX -2.49%) shares have made for one of the best investment opportunities of this century. They have soared 21,510% in the past 20 years (as of Sept. 29). But this streaming stock is on a disappointing run recently.

If you invested $1,000 in Netflix shares at the start of 2026, here's how much you'd have today.

Image source: The Motley Fool.

Netflix's stock price has dipped 25.2% in 2026, turning a $1,000 starting sum into $748. It has drastically underperformed the S&P 500 index, which is up 12.7% this year.

Investor losses have been partially driven by a decline in market sentiment, which has lowered valuation multiples and discouraged new buy-ins. The stock trades at a price-to-earnings ratio of 22.2 today. This is 40% below its P/E ratio at the start of 2026.

Historically, Netflix was known as a rapidly growing business. It was quickly signing up new members, which boosted the top line. This helped solidify its position atop the steaming market.

But now, Netflix is operating in a more cutthroat competitive environment. Attention is a scarce resource that deep-pocketed rivals are all trying to capture. Netflix's engagement trends are unimpressive, with just 2% more hours of content streamed in the first six months of 2026 versus the same period last year.

And revenue growth is shaping up to be slower going forward. Investors have to realize that buying Netflix shares in 2026 presents a completely different opportunity than buying the stock in previous years.