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The analyst provides a comprehensive fundamental analysis of Netflix (NFLX), highlighting its recent subscriber growth (surpassing 325 million in Q4 2025, with estimates for 327 million by end of 2026) and revenue growth (18% YoY in Q4 2025, reaching $12.05 billion). He emphasizes the company's strategic shift towards an ad-supported membership tier, expecting a rough doubling of ad revenue in 2026. Operationally, Netflix is focused on improving its core business by increasing content variety and quality, enhancing product experience, and exploring live events and cloud-first gaming. A significant upcoming event is the acquisition of Warner Bros. Discovery streaming and film studio assets for an equity value of $72 billion, which Netflix views as a strategic accelerant for healthy growth. From a technical perspective, NFLX has experienced a significant downturn, dropping nearly 40% from its all-time highs of $134. However, it has recently bounced off a strong support level at approximately $82, where buyers are stepping in. The analyst's personal strategy involves accumulating shares at or below $82 to lower his cost basis. His fair value calculation, based on discounted earnings, places the intrinsic value at around $84.92, suggesting the stock is currently near fair value. The analyst projects a future target price of $166.29, representing a potential 95.82% return, assuming an annual EPS growth rate of 19.53% over the next five years.