# With the stock now near $100, that gap translates into billions of embedded value.

*business · news · 2026-04-09 · Benzinga*

## Key points

- Netflix has $7.4 billion in in-the-money stock options not reflected on its balance sheet.
- These options have an average exercise price of $36.07, while Netflix stock trades near $100.
- Including these options would increase Netflix's effective capital structure from $14.5 billion to $21.9 billion.
- Investors may begin treating stock-based compensation as a hard obligation rather than a soft expense.

**Companies:** Netflix
**Countries:** United States

[Read the full story on Benzinga](https://www.benzinga.com/markets/tech/26/04/51739623/netflix-the-7-4-billion-you-wont-find-in-its-debt-line-but-maybe-you-should)

---

Canonical: https://newsio.io/n/77d2f76c-bc6f-4014-aaf3-bbcd07ce05ae/with-the-stock-now-near-100-that-gap-translates-into-billions-of-embedded-value
Summarized by Newsio from Benzinga. https://newsio.io/how-it-works