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%
                    
                    P76
                    
                    +15.9%
                    
                    Net income
                    FY2025
                
$11.0B
                    Net margin +24.3%
                    
                    P86
                    
                    +26.1%
                    
                    Total assets
                    FY2025
                
$55.6B
                    ROA +19.8%
                    
                    P90
                    
                    +3.7%
                    
                    Operating cash flow
                    FY2025
                
$10.1B
                    FCF margin +20.9%
                    
                    P75
                    
                    +37.9%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

24 accounts · 10 years

Total assets $55.6B

Total liabilities $29.0B

Shareholders equity $26.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+15.7%	+9.7%	+38.3%	-14.6%	-26.5%	+63.5%	+32.3%	+34.4%	+92.3%	—
Short Term Investments	-98.4%	+8382.4%	-97.7%	—	—	—	—	—	—	—
Other Current Assets	+12.5%	+26.5%	-13.3%	+57.1%	+31.2%	+34.1%	-80.3%	+21.7%	+21.6%	—
Total Current Assets	-0.6%	+32.1%	+7.0%	+14.8%	-17.3%	+58.0%	-36.3%	+26.4%	+34.1%	—
Property,Plant and Equipment	+25.8%	+6.9%	+6.7%	+5.7%	+37.8%	+69.9%	+35.1%	+31.0%	+27.6%	—
Other Noncurrent Assets	+4.2%	+4.3%	-1.6%	+7.8%	+23.2%	+4.9%	+71.7%	+43.9%	+44.7%	—
Total Assets	+3.7%	+10.1%	+0.3%	+9.0%	+13.5%	+15.6%	+30.8%	+36.6%	+39.9%	—
Liabilities
Accounts Payable	+0.1%	+20.4%	+11.3%	-19.8%	+27.6%	-2.7%	+19.8%	+56.6%	+14.9%	—
Accrued Liabilities	+49.4%	+19.5%	+19.1%	+4.5%	+31.5%	+30.7%	+75.0%	+52.9%	+59.4%	—
Deferred Revenue	+16.8%	+5.4%	+14.1%	+4.6%	+8.1%	+20.9%	+21.6%	+23.0%	+39.5%	—
Current Portion of Long Term Debt	-44.0%	+346.3%	—	-100.0%	+40.0%	—	—	—	—	—
Other Current Liabilities	-7.0%	-1.6%	-0.3%	+4.4%	-3.1%	+0.4%	-5.7%	+12.2%	+14.9%	—
Total Current Liabilities	+2.1%	+21.4%	+11.7%	-6.6%	+8.8%	+13.9%	+5.7%	+18.7%	+19.2%	—
Long Term Debt	-2.4%	-2.4%	-1.5%	-2.3%	-7.1%	+7.1%	+42.5%	+59.4%	+93.2%	—
Deferred Revenue Noncurrent	-11.3%	-30.9%	-16.3%	-0.4%	+18.2%	-21.5%	-11.3%	+12.9%	+15.0%	—
Other Noncurrent Liabilities	+15.9%	-0.4%	+4.5%	-0.3%	+24.1%	+37.2%	+1017.6%	-4.4%	+121.0%	—
Total Liabilities	+0.3%	+2.6%	+1.2%	-3.2%	+1.8%	+6.9%	+27.3%	+34.4%	+41.5%	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	+16.5%	+21.5%	+10.9%	+15.2%	+16.7%	+23.4%	+20.6%	+23.8%	+17.0%	—
Retained Earnings	+35.1%	+38.6%	+31.5%	+35.4%	+67.6%	+57.4%	+63.5%	+70.0%	+53.4%	—
Treasury Stock	+69.9%	+90.3%	+739.9%	+0.0%	—	—	—	—	—	—
Accumulated Other Comprehensive Income	-260.3%	+261.7%	-3.1%	-436.6%	-191.2%	+288.8%	-20.1%	+4.7%	+57.7%	—
Total Stockholders Equity	+7.6%	+20.2%	-0.9%	+31.1%	+43.2%	+45.9%	+44.7%	+46.3%	+33.7%	—
Total Liabilitiesand Equity	+3.7%	+10.1%	+0.3%	+9.0%	+13.5%	+15.6%	+30.8%	+36.6%	+39.9%	—

Income Statement

Revenue, expense, and profitability

14 accounts · 10 years

Revenue $45.2B

Operating income $13.3B

Net income $11.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+15.9%	+15.6%	+6.7%	+6.5%	+18.8%	+24.0%	+27.6%	+35.1%	—	—
Expenses Cost of Revenue	+10.6%	+6.7%	+2.9%	+10.6%	+13.5%	+22.8%	+24.8%	+24.1%	—	—
Expenses Research and Development	+15.9%	+9.3%	-1.3%	+19.2%	+24.3%	+18.4%	+26.5%	+28.1%	—	—
Expenses Selling,General and Administrative	+12.3%	+5.5%	+6.7%	+5.3%	+17.9%	-7.3%	+18.9%	+60.6%	—	—
Other Income Expense Operating Income	+27.9%	+49.8%	+23.5%	-9.1%	+35.1%	+76.1%	+62.2%	+91.4%	—	—
Other Income Expense Interest Expense	+8.0%	+2.7%	-0.9%	-7.8%	-0.2%	+22.6%	+48.9%	+76.5%	—	—
Other Income Expense Other Income/expense	-35.4%	+647.0%	-114.5%	-18.0%	+166.5%	-836.2%	+101.3%	+136.2%	—	—
Other Income Expense Income Before Tax	+27.7%	+60.6%	+17.9%	-9.9%	+82.5%	+55.1%	+68.1%	+152.7%	—	—
Income Tax Income Tax Expense	+38.9%	+57.3%	+3.3%	+6.6%	+65.3%	+124.2%	+1183.6%	+120.7%	—	—
net Income net Income	+26.1%	+61.1%	+20.4%	-12.2%	+85.3%	+47.9%	+54.1%	+116.7%	—	—
net Income Comprehensive Income	+8.0%	+72.1%	+25.2%	-14.2%	+77.8%	+51.9%	+53.7%	+106.5%	—	—
Earnings Per Share Basic Eps	+27.1%	+66.4%	-87.9%	-12.6%	+84.5%	+46.9%	+53.2%	+115.5%	—	—
Earnings Per Share Diluted Eps	+27.8%	+65.0%	-87.9%	-11.5%	+84.9%	+47.2%	+54.1%	+114.4%	—	—
Earnings Per Share Weighted Average Shares Diluted	-1.1%	-2.3%	+896.0%	-0.9%	+0.3%	+0.5%	+0.1%	+1.0%	—	—

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $10.1B

Investing cash flow $1.0B

Financing cash flow $-10.3B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	+26.1%	+61.1%	+20.4%	-12.2%	+85.3%	+47.9%	+54.1%	+116.7%	—	—
Operating Activities Depreciation and Amortization	+7.2%	+7.4%	+1.3%	+15.5%	+13.9%	+17.2%	+22.4%	+21.5%	—	—
Operating Activities Stock Based Compensation	+35.2%	-19.7%	-41.0%	+42.7%	-2.9%	+2.4%	+26.4%	+76.0%	—	—
Operating Activities Deferred Income Taxes	+25.2%	-28.6%	-175.8%	-183.5%	+184.8%	+174.2%	-10.4%	+59.0%	—	—
Operating Activities Changes In Operating Assets and Liabilities	-31.4%	-15.7%	-21.2%	-6274.9%	+98.8%	-21.3%	-150.3%	+34.9%	—	—
Operating Activities Other Non Cash Items	-3.8%	-33.6%	+28.8%	+6.2%	-62.1%	+20.3%	-5.4%	-36.5%	—	—
Operating Activities net Cash From Operating Activities	+37.9%	+1.2%	+259.0%	+416.1%	-83.8%	+184.1%	-7.7%	-50.1%	—	—
Investing Activities Capital Expenditures	-56.6%	-26.1%	+14.5%	+22.3%	-5.4%	-96.8%	-45.5%	-0.4%	—	—
Investing Activities Business Acquisitions	—	—	+100.0%	+3.9%	—	—	—	—	—	—
Investing Activities Purchases of Investments	+90.2%	-245.1%	+44.6%	—	—	—	—	—	—	—
Investing Activities Proceeds From Sale of Investments	—	-100.0%	—	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	+147.7%	-502.7%	+126.1%	-55.0%	-165.1%	-30.6%	-14.1%	-1087.9%	—	—
Financing Activities Proceeds From Debt	-100.0%	—	—	—	—	-77.4%	+12.8%	+31.2%	—	—
Financing Activities Repayment of Debt	-358.4%	—	+100.0%	-40.0%	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	-45.7%	-3.6%	—	+100.0%	—	—	—	—	—	—
Financing Activities Proceeds From Stock Issuance	-19.9%	+390.0%	+375.5%	-79.5%	-25.8%	+224.2%	-41.8%	+40.9%	—	—
Financing Activities Tax Withholding On Stock Based Compensation	-457.2%	—	—	+100.0%	—	—	—	—	—	—
Financing Activities Other Financing Activities	+80.5%	+60.6%	—	—	+100.0%	+79.1%	+4.5%	-18.6%	—	—
Financing Activities net Cash From Financing Activities	-153.9%	+31.5%	-795.9%	+42.2%	-192.9%	-72.5%	+11.3%	+31.6%	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	+192.8%	-603.5%	+148.6%	-96.1%	-340.6%	+7586.6%	+101.2%	-232.9%	—	—
Cash Reconciliation net Change In Cash	+78.8%	-64.6%	+320.2%	+59.5%	-168.3%	+159.4%	+24.5%	-27.0%	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+48.5%	+46.1%	+41.5%	+39.4%	+41.6%	+38.9%	+38.3%	+36.9%	+31.3%	+29.1%
Operating margin	+29.5%	+26.7%	+20.6%	+17.8%	+20.9%	+18.3%	+12.9%	+10.2%	+7.2%	+4.3%
Net margin	+24.3%	+22.3%	+16.0%	+14.2%	+17.2%	+11.0%	+9.3%	+7.7%	+4.8%	+2.1%
FCF margin	+20.9%	+17.7%	+20.5%	+5.1%	-0.4%	+7.7%	-15.6%	-18.1%	-16.8%	-17.9%
Growth
Revenue CAGR (3y)	+12.6%	+9.5%	+10.5%	+16.2%	+23.4%	+28.8%	+31.7%	+32.6%	+28.5%	+26.4%
Returns
ROE	+41.3%	+35.2%	+26.3%	+21.6%	+32.3%	+25.0%	+24.6%	+23.1%	+15.6%	—
ROA	+19.8%	+16.2%	+11.1%	+9.2%	+11.5%	+7.0%	+5.5%	+4.7%	+2.9%	—
ROIC	+35.9%	+28.0%	+21.6%	+16.0%	+21.5%	+20.6%	+13.6%	+13.4%	+11.6%	—
Liquidity
Current ratio	1.19x	1.22x	1.12x	1.17x	0.95x	1.25x	0.90x	1.49x	1.40x	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	1.09x	1.17x	1.37x	1.34x	1.81x	2.55x	3.48x	3.96x	4.31x	—
Interest coverage	17.16x	14.49x	9.94x	7.98x	8.09x	5.97x	4.16x	3.82x	3.52x	2.53x
Efficiency
Asset turnover	0.81x	0.73x	0.69x	0.65x	0.67x	0.64x	0.59x	0.61x	0.61x	—
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

Valuation

Price against fundamentals

NFLX $1.2K · 2025-09-29 · 397d old · FY2025

Market cap $5.2T

P/E 477.22x

P/S 115.98x

P/B 196.90x

EV $5.2T

EV/EBITDA —

FCF yield +0.2%

Dividend yield —

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