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Netflix NFLX · USD
Communication Services · Entertainment · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
63.95
+0.85%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$45.18bn
FY2016FY2025
Net income
$10.98bn
FY2016FY2025
Free cash flow
$9.46bn
FY2016FY2025
Shareholders' equity
$26.62bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $45.18bn | $39.00bn | $33.72bn | $31.62bn | $29.70bn | $25.00bn | $20.16bn | $15.79bn | $11.69bn | $8.83bn |
| Gross profit | $21.91bn | $17.96bn | $14.01bn | $12.45bn | $12.37bn | $9.72bn | $7.72bn | $5.83bn | $4.03bn | $2.80bn |
| Research and development | $3.39bn | $2.93bn | $2.68bn | $2.71bn | $2.27bn | $1.83bn | $1.55bn | $1.22bn | $1.05bn | $852.1m |
| Operating income | $13.33bn | $9.25bn | $6.95bn | $5.63bn | $6.19bn | $4.59bn | $2.60bn | $1.61bn | $838.7m | $379.8m |
| Net income | $10.98bn | $8.71bn | $5.41bn | $4.49bn | $5.12bn | $2.76bn | $1.87bn | $1.21bn | $558.9m | $186.7m |
| Diluted earnings per share | 2.54 | 1.99 | 1.20 | 0.99 | 1.12 | 0.61 | 0.41 | 0.27 | 0.12 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $55.60bn | $53.63bn | $48.73bn | $48.59bn | $44.58bn | $39.28bn | $33.98bn | $25.97bn | $19.01bn | $13.59bn |
| Cash and short-term investments | $9.06bn | $9.58bn | $7.14bn | $6.06bn | $6.03bn | $8.21bn | $5.02bn | $3.79bn | $2.82bn | $1.73bn |
| Total liabilities | $28.98bn | $28.89bn | $28.14bn | $27.82bn | $28.74bn | $28.22bn | $26.39bn | $20.74bn | $15.43bn | $10.91bn |
| Debt | $14.46bn | $15.58bn | $14.54bn | $14.35bn | $15.39bn | $16.31bn | $14.76bn | $10.36bn | $6.53bn | $3.39bn |
| Shareholders' equity | $26.62bn | $24.74bn | $20.59bn | $20.78bn | $15.85bn | $11.07bn | $7.58bn | $5.24bn | $3.58bn | $2.68bn |
| Shares outstanding | 4,317m | 4,378m | 4,495m | 4,516m | 4,558m | 4,553m | 4,514m | 4,511m | 4,481m | 4,401m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $10.15bn | $7.36bn | $7.27bn | $2.03bn | $392.6m | $2.43bn | −$2.89bn | −$2.68bn | −$1.79bn | −$1.47bn |
| Capital spending | −$688.2m | −$439.5m | −$348.6m | −$407.7m | −$524.6m | −$497.9m | −$253.0m | −$212.5m | −$227.0m | −$184.8m |
| Free cash flow | $9.46bn | $6.92bn | $6.93bn | $1.62bn | −$132.0m | $1.93bn | −$3.14bn | −$2.89bn | −$2.01bn | −$1.66bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.56bn | $12.25bn | $12.05bn | $11.51bn | $11.08bn | $10.54bn | $10.25bn | $9.82bn |
| Gross profit | $6.52bn | $6.36bn | $5.53bn | $5.35bn | $5.75bn | $5.28bn | $4.48bn | $4.70bn |
| Operating income | $4.19bn | $3.96bn | $2.96bn | $3.25bn | $3.77bn | $3.35bn | $2.27bn | $2.91bn |
| Net income | $3.40bn | $5.28bn | $2.42bn | $2.55bn | $3.13bn | $2.89bn | $1.87bn | $2.36bn |
| Diluted earnings per share | 0.80 | 1.24 | 0.56 | 0.59 | 0.72 | 0.67 | 0.43 | 0.54 |
| Cash from operations | $1.59bn | $5.29bn | $2.11bn | $2.83bn | $2.42bn | $2.79bn | $1.54bn | $2.32bn |
| Capital spending | −$218.0m | −$196.0m | −$239.0m | −$164.0m | −$155.0m | −$128.0m | −$158.0m | −$126.0m |
| Free cash flow | $1.37bn | $5.09bn | $1.87bn | $2.66bn | $2.27bn | $2.66bn | $1.38bn | $2.19bn |
| Total assets | $58.45bn | $61.02bn | $55.60bn | $54.93bn | $53.10bn | $52.09bn | $53.63bn | $52.28bn |
| Cash and short-term investments | $9.13bn | $12.29bn | $9.06bn | $9.33bn | $8.39bn | $8.37bn | $9.58bn | $9.22bn |
| Debt | $14.31bn | $14.36bn | $14.46bn | $15.46bn | $14.91bn | $15.45bn | $15.58bn | $16.41bn |
| Shareholders' equity | $30.15bn | $31.13bn | $26.62bn | $25.95bn | $24.95bn | $24.03bn | $24.74bn | $22.72bn |
Financial ratios
Data as of 2 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 48.5% | 46.1% | 41.5% | 39.4% | 41.6% | 38.9% |
| Operating margin | 29.5% | 23.7% | 20.6% | 17.8% | 20.9% | 18.3% |
| Net margin | 24.3% | 22.3% | 16.0% | 14.2% | 17.2% | 11.0% |
| Return on equity | 41.3% | 35.2% | 26.3% | 21.6% | 32.3% | 25.0% |
| Return on assets | 19.8% | 16.2% | 11.1% | 9.2% | 11.5% | 7.0% |
| Free cash flow yield | 3.1% | 2.2% | 2.1% | 0.7% | 0.2% | 0.8% |
| Revenue growth | 15.9% | 15.6% | 6.7% | 6.5% | 18.8% | 24.0% |
| Earnings growth | 26.1% | 61.1% | 20.4% | -12.2% | 85.3% | 47.9% |
| Current ratio | 1.19x | 1.22x | 1.12x | 1.17x | 0.95x | 1.25x |
| Debt to equity | 0.54x | 0.63x | 0.73x | 0.69x | 0.97x | 1.47x |
| Equity ratio | 47.9% | 46.1% | 42.2% | 42.8% | 35.5% | 28.2% |
| Interest coverage | 17.16x | 12.87x | 9.94x | 7.98x | 8.09x | 3.31x |
| R&D as a share of sales | 7.5% | 7.5% | 7.9% | 8.6% | 7.7% | 7.3% |
| Buybacks as a share of market value | 1.4% | 2.6% | 0.5% | 0.9% | -0.1% | -0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.6% | 12.6% | 20.9% |
| Operating income | 33.2% | 23.8% | 45.9% |
| Net income | 34.7% | 31.8% | 56.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 47.4% | 44.4% | 43.3% | 41.5% |
| Operating margin | 26.8% | 23.5% | 22.5% | 19.3% |
| Net margin | 23.4% | 19.8% | 18.3% | 15.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 36.9 | 44.8 | 40.5 | 29.6 | 34.8 | 57.9 | 50.8 | 64.7 | 99.9 | 189.3 |
| Price to sales | 9.0 | 10.0 | 6.5 | 4.2 | 6.0 | 6.4 | 4.7 | 5.0 | 4.8 | 4.0 |
Market value over time
31 Oct 2016 to 1 Sept 2026, in USD
$54.74bn$344.36bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 6% | 80% | 72% | -25% | 12% | 57% | 29% | 38% | 51% | 14% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-for-1 split · 17 Nov 2025
- 7-for-1 split · 15 Jul 2015
- 2-for-1 split · 12 Feb 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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