The issue you are experiencing with the STOCKHISTORY function in Excel not returning split-adjusted historical data for Netflix (NFLX) following the November 2025 stock split may be related to how the function processes stock splits. Currently, there is no documented argument or setting within the STOCKHISTORY function that allows users to toggle for fully split-adjusted historical data.
It is possible that this is a known limitation or bug with the STOCKHISTORY function, particularly for specific tickers like NFLX. Users have reported inconsistencies in the historical data returned by this function, especially around significant corporate actions such as stock splits.
For the most accurate and up-to-date information, I recommend checking Microsoft's official documentation or support channels regarding the STOCKHISTORY function to see if there have been any updates or fixes related to this issue.
If you require consistent retrieval of split-adjusted historical data, you might need to manually adjust the pre-split prices or consider using alternative data sources or methods for obtaining historical stock data that accounts for stock splits.