NETFLIX INC NFLX

Communication services SIC 7841 - Services-Video Tape Rental NAICS Real Estate and Rental and Leasing › Rental and Leasing Services › Consumer Goods Rental › Other Consumer Goods Rental › Video Tape and Disc Rental derived Nasdaq

Netflix, Inc. ("Netflix", the "Company", "registrant", "we", or "us") is one of the world's leading entertainment services offering TV series, films, games and live programming across a wide variety of genres and languages. Members can play, pause and resume watching as much as they want, anytime, anywhere, and can change their plans at any time.

Our core strategy is to grow our business globally within the parameters of our operating margin target. We strive to continuously improve our members' experience by offering compelling content that delights them and attracts new members. We aim to offer a range of pricing plans, including our ad-supported subscription plan, to meet a variety of consumer needs. We seek to drive conversation around our content to further enhance member joy, and we are continuously enhancing our user interface to help our members more easily choose content that they will find enjoyable.

Last close 65.85 2026-10-23
Market cap $274.20B 2026-06-30 share count
52-week range 64.10 - 116.73

Valuation FY2025 figures against the last close

P/S6.1x
P/E26.0x
P/FCF29.0x
EV/EBITDA20.5x
Dividend yield—
Diluted EPS2.53

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $45.18B$39.00B$33.72B$31.62B$29.70B$25.00B$20.16B$15.79B$11.69B$8.83B
Cost of revenue $23.28B$21.04B$19.72B$19.17B$17.33B$15.28B$12.44B$9.97B$8.03B$6.26B
Gross profit $21.91B$17.96B$14.01B$12.45B$12.37B$9.72B$7.72B$5.83B$3.66B$2.57B
R&D $3.39B$2.93B$2.68B$2.71B$2.27B$1.83B$1.67B$1.22B$981.0M$768.0M
SG&A $1.89B$1.70B$1.72B$1.57B$1.35B$1.08B$914.4M$630.3M$431.0M$315.7M
Operating income $13.33B$10.42B$6.95B$5.63B$6.19B$4.59B$2.60B$1.61B$838.7M$379.8M
Interest expense $776.5M$718.7M$699.8M$706.2M$765.6M$767.5M$626.0M$420.5M$238.2M$150.1M
Pre-tax income $12.72B$9.97B$6.21B$5.26B$5.84B$3.20B$2.06B$1.23B$485.3M$260.5M
Income tax $1.74B$1.25B$797.4M$772.0M$723.9M$438.0M$195.3M$15.2M$73.6M$73.8M
Net income $10.98B$8.71B$5.41B$4.49B$5.12B$2.76B$1.87B$1.21B$558.9M$186.7M
EPS, basic 2.582.031.2210.1011.556.264.262.781.290.44
EPS, diluted 2.531.981.209.9511.246.084.132.681.250.43
Shares, diluted (wtd. avg.) 4.34B4.39B4.49B451.3M455.4M454.2M451.8M451.2M446.8M438.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $9.03B$7.80B$7.12B$5.17B$6.06B$8.24B$5.04B$3.81B$2.82B$1.47B
Short-term investments $28.7M$1.78B$21.0M$911.3M$0—————
Total current assets $13.02B$13.10B$9.92B$9.27B$8.07B$9.76B$6.18B$9.69B$7.67B$5.72B
Property, plant and equipment $2.00B$1.59B$1.49B$1.40B$1.32B$960.2M$565.2M$418.3M$319.4M$250.4M
Other intangibles $32.78B$32.45B————————
Total assets $55.60B$53.63B$48.73B$48.59B$44.58B$39.28B$33.98B$25.97B$19.01B$13.59B
Accounts payable $900.6M$899.9M$747.4M$671.5M$837.5M$656.2M$674.3M$563.0M$359.6M$312.8M
Short-term debt $998.9M$1.78B$399.8M$0$699.8M$499.9M$0———
Total current liabilities $10.98B$10.76B$8.86B$7.93B$8.49B$7.81B$6.86B$6.49B$5.47B$4.59B
Long-term debt $13.46B$13.80B$14.14B$14.35B$14.69B$15.81B$14.76B$10.36B$6.50B$3.36B
Total liabilities $28.98B$28.89B$28.14B$27.82B$28.74B$28.22B$26.39B$20.74B$15.43B$10.91B
Retained earnings $42.28B$31.30B$22.59B$17.18B$12.69B$7.57B$4.81B$2.94B$1.73B$1.13B
Total equity $26.62B$24.74B$20.59B$20.78B$15.85B$11.07B$7.58B$5.24B$3.58B$2.68B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $10.15B$7.36B$7.27B$2.03B$392.6M$2.43B-$2.89B-$2.68B-$1.79B-$1.47B
Depreciation and amortisation $333.4M$328.9M$356.9M$336.7M$208.4M$115.7M$103.6M$83.2M$71.9M$57.5M
Stock-based compensation $368.4M$272.6M$339.4M$575.5M$403.2M$415.2M$405.4M$320.7M$182.2M$173.7M
Capital expenditure $688.2M$439.5M$348.6M$407.7M$524.6M$497.9M$253.0M$173.9M$173.3M$107.7M
Investing cash flow $1.04B-$2.18B$541.8M-$2.08B-$1.34B-$505.4M-$387.1M-$339.1M$34.3M$49.8M
Financing cash flow -$10.35B-$4.07B-$5.95B-$664.3M-$1.15B$1.24B$4.51B$4.05B$3.08B$1.09B
Buybacks $9.13B$6.26B$6.05B$0$600.0M$0$0———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-159286.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 20B 40B 60B Revenue, FY2016: 8.8B Gross profit, FY2016: 2.6B Net income, FY2016: 186.7M Revenue, FY2017: 11.7B Gross profit, FY2017: 3.7B Net income, FY2017: 558.9M Revenue, FY2018: 15.8B Gross profit, FY2018: 5.8B Net income, FY2018: 1.2B Revenue, FY2019: 20.2B Gross profit, FY2019: 7.7B Net income, FY2019: 1.9B Revenue, FY2020: 25B Gross profit, FY2020: 9.7B Net income, FY2020: 2.8B Revenue, FY2021: 29.7B Gross profit, FY2021: 12.4B Net income, FY2021: 5.1B Revenue, FY2022: 31.6B Gross profit, FY2022: 12.4B Net income, FY2022: 4.5B Revenue, FY2023: 33.7B Gross profit, FY2023: 14B Net income, FY2023: 5.4B Revenue, FY2024: 39B Gross profit, FY2024: 18B Net income, FY2024: 8.7B Revenue, FY2025: 45.2B Gross profit, FY2025: 21.9B Net income, FY2025: 11B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $8.83B $11.69B $15.79B $20.16B $25.00B $29.70B $31.62B $33.72B $39.00B $45.18B
Gross profit $2.57B $3.66B $5.83B $7.72B $9.72B $12.37B $12.45B $14.01B $17.96B $21.91B
Net income $186.7M $558.9M $1.21B $1.87B $2.76B $5.12B $4.49B $5.41B $8.71B $10.98B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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