NFLX

Company financials

Netflix

Communication Services Movies & Entertainment Los Gatos, California Last filing Jan 23, 2026 · FY2025

                    Revenue
                    FY2025
                
$45.2B
                    3y CAGR +12.6%
                    
                    P79
                    
                    +15.9%
                    
                    Net income
                    FY2025
                
$11.0B
                    Net margin +24.3%
                    
                    P89
                    
                    +26.1%
                    
                    Total assets
                    FY2025
                
$55.6B
                    ROA +19.8%
                    
                    P95
                    
                    +3.7%
                    
                    Operating cash flow
                    FY2025
                
$10.1B
                    FCF margin +20.9%
                    
                    P76
                    
                    +37.9%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 3 years

Total assets $55.6B

Total liabilities $29.0B

Shareholders equity $26.6B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	+12.7%	+9.7%	—
Short Term Investments	+16.9%	+8382.4%	—
Accounts Receivable	+14.8%	+61.3%	—
Prepaid Expenses	+10.4%	+5.6%	—
Other Current Assets	+19.3%	+26.5%	—
Total Current Assets	+14.6%	+32.1%	—
Property,Plant and Equipment	+15.9%	+6.9%	—
Operating Lease Assets	+3.1%	+1.2%	—
Long Term Investments	+16.9%	+8382.4%	—
Other Noncurrent Assets	+17.3%	+14.5%	—
Total Assets	+6.8%	+10.1%	—
Liabilities
Accounts Payable	+9.8%	+20.4%	—
Accrued Liabilities	+33.6%	+19.5%	—
Deferred Revenue	+10.9%	+5.4%	—
Current Portion of Long Term Debt	+58.1%	+346.3%	—
Operating Lease Liabilities	+9.6%	+11.8%	—
Other Current Liabilities	+7.4%	-0.4%	—
Total Current Liabilities	+11.3%	+21.4%	—
Long Term Debt	-2.4%	-2.4%	—
Operating Lease Liabilities Noncurrent	+0.1%	-3.1%	—
Other Noncurrent Liabilities	+7.4%	-0.4%	—
Total Liabilities	+1.5%	+2.6%	—
Equity
Common Stock	+19.0%	+21.5%	—
Retained Earnings	+36.8%	+38.6%	—
Treasury Stock	+22.5%	+2.3%	—
Accumulated Other Comprehensive Income	—	—	—
Total Stockholders Equity	+13.7%	+20.2%	—
Total Liabilitiesand Equity	+6.8%	+10.1%	—

Income Statement

Revenue, expense, and profitability

15 accounts · 3 years

Revenue $45.2B

Operating income $13.3B

Net income $11.0B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+15.8%	+15.6%	—
Expenses Cost of Revenue	+8.7%	+6.7%	—
Expenses Research and Development	+12.6%	+9.3%	—
Expenses Selling,General and Administrative	+4.8%	-1.1%	—
Expenses Depreciation and Amortization	-3.4%	-7.9%	—
Expenses Share Based Compensation	+4.2%	-19.7%	—
Other Income Expense Operating Income	+38.4%	+49.8%	—
Other Income Expense Income Before Tax	+43.2%	+60.6%	—
Income Tax Income Tax Expense	+47.8%	+57.3%	—
net Income net Income	+42.5%	+61.1%	—
net Income Comprehensive Income	+36.3%	+72.1%	—
Earnings Per Share Basic Eps	+45.4%	+66.4%	—
Earnings Per Share Diluted Eps	+45.2%	+65.0%	—
Earnings Per Share Weighted Average Shares Basic	-1.9%	-2.7%	—
Earnings Per Share Weighted Average Shares Diluted	-1.7%	-2.3%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $10.1B

Investing cash flow $1.0B

Financing cash flow $-10.3B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+42.5%	+61.1%	—
Operating Activities Depreciation and Amortization	-3.4%	-7.9%	—
Operating Activities Stock Based Compensation	+4.2%	-19.7%	—
Operating Activities Deferred Income Taxes	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+73.3%	+4.1%	—
Operating Activities net Cash From Operating Activities	+18.1%	+1.2%	—
Investing Activities Capital Expenditures	+40.5%	+26.1%	—
Investing Activities Business Acquisitions	—	—	—
Investing Activities Purchases of Investments	-42.0%	+245.1%	—
Investing Activities net Cash From Investing Activities	+38.7%	—	—
Financing Activities Repayment of Debt	—	—	—
Financing Activities Repurchase of Common Stock	+22.9%	+3.6%	—
Financing Activities Proceeds From Stock Issuance	+98.1%	+390.0%	—
Financing Activities Tax Withholding On Stock Based Compensation	—	—	—
Financing Activities Other Financing Activities	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	+116.2%	—	—
Cash Reconciliation net Change In Cash	-20.5%	-64.6%	—
Cash Reconciliation Cash At Beginning of Period	+12.7%	+9.7%	—
Cash Reconciliation Cash At End of Period	+12.7%	+9.7%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+48.5%	+46.1%	+41.5%
Operating margin	+29.5%	+26.7%	+20.6%
Net margin	+24.3%	+22.3%	+16.0%
FCF margin	+20.9%	+17.7%	+20.5%
Growth
Revenue CAGR (3y)	+12.6%	+9.5%	+10.5%
Returns
ROE	+41.3%	+35.2%	+26.3%
ROA	+19.8%	+16.2%	+11.1%
ROIC	+35.9%	+28.0%	+21.6%
Liquidity
Current ratio	1.19x	1.22x	1.12x
Quick ratio	0.95x	0.89x	0.93x
Leverage
D/E	1.09x	1.17x	1.37x
Interest coverage	—	—	9.94x
Efficiency
Asset turnover	0.81x	0.73x	0.69x
Cash conversion cycle	—	—	—

Valuation

Price against fundamentals

NFLX $1.2K · 2025-09-29 · 351d old · FY2025

Market cap $5.2T

P/E 477.22x

P/S 115.98x

P/B 196.90x

EV $5.2T

EV/EBITDA 384.03x

FCF yield +0.2%

Dividend yield —

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Netflix

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

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