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 · 5 years

Total assets $55.6B

Total liabilities $29.0B

Shareholders equity $26.6B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+10.6%	+9.0%	+8.7%	-14.6%	—
Short Term Investments	—	—	—	—	—
Accounts Receivable	+11.8%	+24.2%	+8.9%	+99.8%	—
Prepaid Expenses	+11.4%	+10.1%	+12.4%	+21.3%	—
Other Current Assets	+18.0%	+19.9%	+16.7%	+57.1%	—
Total Current Assets	+12.7%	+17.5%	+10.9%	+14.8%	—
Property,Plant and Equipment	+10.9%	+6.4%	+6.2%	+5.7%	—
Operating Lease Assets	-2.5%	-4.9%	-7.9%	-9.0%	—
Long Term Investments	—	—	—	—	—
Other Noncurrent Assets	+16.2%	+14.9%	+15.2%	+21.6%	—
Total Assets	+5.7%	+6.4%	+4.5%	+9.0%	—
Liabilities
Accounts Payable	+1.8%	+2.4%	-5.5%	-19.8%	—
Accrued Liabilities	+22.1%	+14.2%	+11.6%	+4.5%	—
Deferred Revenue	+10.1%	+7.9%	+9.2%	+4.6%	—
Current Portion of Long Term Debt	+9.3%	+36.6%	-24.4%	—	—
Operating Lease Liabilities	+9.9%	+10.8%	+10.3%	+12.9%	—
Other Current Liabilities	+4.7%	+1.2%	+2.1%	-0.3%	—
Total Current Liabilities	+6.6%	+8.2%	+2.2%	-6.6%	—
Long Term Debt	-2.2%	-2.1%	-1.9%	-2.3%	—
Operating Lease Liabilities Noncurrent	-3.9%	-6.3%	-7.8%	-7.7%	—
Other Noncurrent Liabilities	+4.7%	+1.2%	+2.1%	-0.3%	—
Total Liabilities	+0.2%	+0.2%	-1.0%	-3.2%	—
Equity
Common Stock	+16.0%	+15.8%	+13.1%	+15.2%	—
Retained Earnings	+35.1%	+35.1%	+33.4%	+35.4%	—
Treasury Stock	+82.6%	+96.4%	+172.0%	+0.0%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Total Stockholders Equity	+13.8%	+16.0%	+14.0%	+31.1%	—
Total Liabilitiesand Equity	+5.7%	+6.4%	+4.5%	+9.0%	—

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $45.2B

Operating income $13.3B

Net income $11.0B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+11.1%	+9.5%	+6.6%	+6.5%	—
Expenses Cost of Revenue	+7.6%	+6.7%	+6.7%	+10.6%	—
Expenses Research and Development	+10.5%	+8.8%	+8.5%	+19.2%	—
Expenses Selling,General and Administrative	+8.7%	+8.0%	+12.8%	+16.4%	—
Expenses Depreciation and Amortization	+12.5%	+16.4%	+30.9%	+61.5%	—
Expenses Share Based Compensation	-2.2%	-12.2%	-8.3%	+42.7%	—
Other Income Expense Operating Income	+21.1%	+18.9%	+6.0%	-9.1%	—
Other Income Expense Income Before Tax	+21.5%	+19.5%	+3.1%	-9.9%	—
Income Tax Income Tax Expense	+24.5%	+20.1%	+5.0%	+6.6%	—
net Income net Income	+21.0%	+19.4%	+2.8%	-12.2%	—
net Income Comprehensive Income	+18.8%	+22.7%	+3.6%	-14.2%	—
Earnings Per Share Basic Eps	-31.3%	-44.0%	-67.5%	-12.6%	—
Earnings Per Share Diluted Eps	-31.1%	-43.9%	-67.3%	-11.5%	—
Earnings Per Share Weighted Average Shares Basic	+76.0%	+113.2%	+215.7%	+0.3%	—
Earnings Per Share Weighted Average Shares Diluted	+75.7%	+112.9%	+214.2%	-0.9%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $10.1B

Investing cash flow $1.0B

Financing cash flow $-10.3B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+21.0%	+19.4%	+2.8%	-12.2%	—
Operating Activities Depreciation and Amortization	+12.5%	+16.4%	+30.9%	+61.5%	—
Operating Activities Stock Based Compensation	-2.2%	-12.2%	-8.3%	+42.7%	—
Operating Activities Deferred Income Taxes	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+28.3%	-2.1%	-5.0%	—	—
Operating Activities net Cash From Operating Activities	+125.5%	+165.7%	+330.4%	+416.1%	—
Investing Activities Capital Expenditures	+7.0%	-5.7%	-18.5%	-22.3%	—
Investing Activities Business Acquisitions	-61.6%	—	—	-3.9%	—
Investing Activities Purchases of Investments	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Repayment of Debt	+38.4%	-7.2%	—	+40.0%	—
Financing Activities Repurchase of Common Stock	+97.5%	+118.6%	+217.4%	—	—
Financing Activities Proceeds From Stock Issuance	+39.8%	+68.4%	-1.3%	-79.5%	—
Financing Activities Tax Withholding On Stock Based Compensation	-32.6%	-66.7%	—	—	—
Financing Activities Other Financing Activities	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+10.5%	+8.8%	+8.4%	-14.6%	—
Cash Reconciliation Cash At End of Period	+10.5%	+8.8%	+8.4%	-14.6%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+48.5%	+46.1%	+41.5%	+39.4%	+41.6%
Operating margin	+29.5%	+26.7%	+20.6%	+17.8%	+20.9%
Net margin	+24.3%	+22.3%	+16.0%	+14.2%	+17.2%
FCF margin	+20.9%	+17.7%	+20.5%	+5.1%	-0.4%
Growth
Revenue CAGR (3y)	+12.6%	+9.5%	+10.5%	+16.2%	+23.4%
Returns
ROE	+41.3%	+35.2%	+26.3%	+21.6%	+32.3%
ROA	+19.8%	+16.2%	+11.1%	+9.2%	+11.5%
ROIC	+35.9%	+28.0%	+21.6%	+16.0%	+21.5%
Liquidity
Current ratio	1.19x	1.22x	1.12x	1.17x	0.95x
Quick ratio	0.95x	0.89x	0.93x	0.88x	0.82x
Leverage
D/E	1.09x	1.17x	1.37x	1.34x	1.81x
Interest coverage	—	—	9.94x	7.98x	8.09x
Efficiency
Asset turnover	0.81x	0.73x	0.69x	0.65x	0.67x
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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