Financials
Income statement, balance sheet and cash flow, built from SEC EDGAR filings.
NETFLIX INC
NFLX
· CIK 0001065280
Figures in millions of USD unless the line is a per-share amount or a share count.
| Line item | Q3 2026 2026-09-30 | Q2 2026 2026-06-30 | Q1 2026 2026-03-31 | Q4 2025 2025-12-31 | Q3 2025 2025-09-30 | Q2 2025 2025-06-30 | Q1 2025 2025-03-31 | Q4 2024 2024-12-31 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 12,874 | 12,560 | 12,250 | 12,051 | 11,510 | 11,079 | 10,543 | 10,247 |
| Operating Income | 4,459 | 4,193 | 3,957 | 2,957 | 3,248 | 3,775 | 3,347 | 2,273 |
| Pre-Tax Income | 4,317 | 4,069 | 6,547 | 2,768 | 3,109 | 3,632 | 3,214 | 2,134 |
| Net Income | 3,664 | 3,401 | 5,283 | 2,419 | 2,547 | 3,125 | 2,890 | 1,869 |
| EPS (Diluted) | 0.87 | 0.80 | 1.23 | 0.56 | 0.59 | 0.72 | 0.66 | 0.12 |
| Balance Sheet | ||||||||
| Total Assets | 58,682 | 58,450 | 61,016 | 55,597 | — | 54,935 | 53,100 | 52,088 |
| Total Liabilities | 29,396 | 28,298 | 29,890 | 28,982 | — | 28,981 | 28,148 | 28,060 |
| Shareholders' Equity | 29,286 | 30,152 | 31,126 | 26,615 | — | 25,954 | 24,952 | 24,028 |
| Cash & Equivalents | 8,194 | 9,099 | 12,260 | 9,034 | — | 9,287 | 8,177 | 7,200 |
| Cash Flow | ||||||||
| Operating Cash Flow | 3,162 | 1,744 | 5,290 | 2,112 | 2,825 | 2,423 | 2,789 | 1,537 |
| Capital Expenditures | -279 | -219 | -196 | -239 | -165 | -156 | -128 | -159 |
| Free Cash Flow | 2,884 | 1,525 | 5,094 | 1,872 | 2,660 | 2,267 | 2,661 | 1,378 |
| Ratios | ||||||||
| Operating Margin | 34.63% | 33.38% | 32.30% | 24.54% | 28.22% | 34.07% | 31.75% | 22.18% |
| Profit Margin | 28.46% | 27.08% | 43.13% | 20.07% | 22.13% | 28.21% | 27.42% | 18.24% |
| Free Cash Flow Margin | 22.40% | 12.14% | 41.59% | 15.54% | 23.11% | 20.47% | 25.24% | 13.45% |
| Line item | Q3 2026 2026-09-30 | Q2 2026 2026-06-30 | Q1 2026 2026-03-31 | Q4 2025 2025-12-31 | Q3 2025 2025-09-30 | Q2 2025 2025-06-30 | Q1 2025 2025-03-31 | Q4 2024 2024-12-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Total Revenue | 12,874 | 12,560 | 12,250 | 12,051 | 11,510 | 11,079 | 10,543 | 10,247 |
| Cost of Revenue | ||||||||
| Cost of Revenue | 6,079 | 6,037 | 5,888 | 6,523 | 6,164 | 5,325 | 5,263 | 5,767 |
| Operating Expenses | ||||||||
| R&D Expense | 1,033 | 1,008 | 960 | 890 | 854 | 825 | 823 | 777 |
| Selling & Marketing | 837 | 824 | 842 | 1,113 | 786 | 713 | 688 | 976 |
| General & Administrative | 466 | 499 | 603 | 568 | 458 | 441 | 421 | 454 |
| Operating Income | ||||||||
| Operating Income | 4,459 | 4,193 | 3,957 | 2,957 | 3,248 | 3,775 | 3,347 | 2,273 |
| Non-Operating Items | ||||||||
| Interest Expense | -185 | -176 | -262 | -234 | -175 | -183 | -184 | -193 |
| Non-Operating Income/Expense | 43 | 52 | 2,852 | 45 | 36 | 40 | 51 | 54 |
| Pre-Tax Income | ||||||||
| Income Before Tax | 4,317 | 4,069 | 6,547 | 2,768 | 3,109 | 3,632 | 3,214 | 2,134 |
| Tax | ||||||||
| Income Tax Expense | -653 | -667 | -1,264 | -349 | -562 | -506 | -323 | -266 |
| Net Income | ||||||||
| Net Income Available to Common | 3,664 | 3,401 | 5,283 | 2,419 | 2,547 | 3,125 | 2,890 | 1,869 |
| EPS | ||||||||
| EPS (Basic) | 0.89 | 0.81 | 1.25 | 0.57 | 0.60 | 0.74 | 0.68 | 0.12 |
| EPS (Diluted) | 0.87 | 0.80 | 1.23 | 0.56 | 0.59 | 0.72 | 0.66 | 0.12 |
| Shares | ||||||||
| Shares Outstanding (Basic) | 4,134 | 4,189 | 4,223 | 4,229 | 4,245 | 4,252 | 4,273 | 15,890 |
| Shares Outstanding (Diluted) | 4,195 | 4,261 | 4,298 | 4,317 | 4,340 | 4,349 | 4,370 | 16,251 |
| Line item | Q3 2026 2026-09-30 | Q2 2026 2026-06-30 | Q1 2026 2026-03-31 | Q4 2025 2025-12-31 | Q3 2025 2025-10-31 | Q3 2025 2025-09-30 | Q2 2025 2025-06-30 | Q1 2025 2025-03-31 |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total Assets | 58,682 | 58,450 | 61,016 | 55,597 | — | 54,935 | 53,100 | 52,088 |
| Current Assets | 13,222 | 13,853 | 17,071 | 13,020 | — | 12,963 | 11,993 | 11,698 |
| Current Assets | ||||||||
| Cash & Cash Equivalents | 8,194 | 9,099 | 12,260 | 9,034 | — | 9,287 | 8,177 | 7,200 |
| Short-Term Investments | 29 | 29 | 29 | 29 | — | 37 | 213 | 1,171 |
| Other Current Assets | 4,999 | 4,725 | 4,783 | 3,958 | — | 3,639 | 3,603 | 3,327 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment, Net | 2,561 | 2,399 | 2,148 | 2,004 | — | 1,838 | 1,744 | 1,644 |
| Other Non-Current Assets | 8,294 | 8,361 | 8,421 | 7,794 | — | 7,494 | 7,274 | 6,705 |
| Liabilities & Equity | ||||||||
| Total Liabilities & Equity | 58,682 | 58,450 | 61,016 | 55,597 | — | 54,935 | 53,100 | 52,088 |
| Liabilities | ||||||||
| Total Liabilities | 29,396 | 28,298 | 29,890 | 28,982 | — | 28,981 | 28,148 | 28,060 |
| Current Liabilities | ||||||||
| Current Liabilities | 12,301 | 12,135 | 12,132 | 10,981 | — | 9,732 | 8,942 | 9,719 |
| Accounts Payable | 860 | 815 | 895 | 901 | — | 793 | 633 | 614 |
| Accrued Liabilities | 3,301 | 3,173 | 4,442 | 3,221 | — | 3,111 | 2,489 | 2,360 |
| Deferred Revenue, Current | 1,780 | 1,797 | 1,743 | 1,776 | — | 1,725 | 1,728 | 1,610 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 12,658 | 11,826 | 13,361 | 13,464 | — | 14,463 | 14,453 | 14,011 |
| Other Non-Current Liabilities | 2,714 | 2,712 | 2,770 | 2,957 | — | 3,194 | 3,146 | 2,633 |
| Equity | ||||||||
| Preferred Stock | — | — | — | 0 | — | — | — | — |
| Total Stockholders' Equity | 29,286 | 30,152 | 31,126 | 26,615 | — | 25,954 | 24,952 | 24,028 |
| Common Stock | 7,898 | 7,671 | 7,478 | 7,286 | — | 7,080 | 6,933 | 6,677 |
| Retained Earnings (Deficit) | 54,630 | 50,966 | 47,565 | 42,282 | — | 39,864 | 37,317 | 34,191 |
| Accumulated OCI | -9 | -97 | -235 | -580 | — | -719 | -905 | -86 |
| Treasury Stock | -33,233 | -28,388 | -23,682 | -22,373 | — | -20,271 | -18,393 | -16,755 |
| Other Items | ||||||||
| Common stock, par value | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 |
| Preferred stock, par value | — | — | — | 0.00 | — | — | — | — |
| Common stock, shares authorized | 49,900 | 49,900 | 49,900 | 49,900 | 4,990 | — | 4,990 | 4,990 |
| Preferred stock, shares authorized | — | — | — | 10 | — | — | — | — |
| Common stock, shares issued | 4,106 | 4,164 | 4,213 | 4,222 | — | 424 | 425 | 426 |
| Preferred stock, shares issued | — | — | — | 0 | — | — | — | — |
| Common stock, shares outstanding | 4,106 | 4,164 | 4,213 | 4,222 | — | 424 | 425 | 426 |
| Preferred stock, shares outstanding | — | — | — | 0 | — | — | — | — |
| Treasury stock, common shares | 477 | 413 | 360 | 347 | — | 33 | 31 | 30 |
| Content assets, net | 34,605 | 33,838 | 33,376 | 32,778 | — | 32,640 | 32,089 | 32,041 |
| Current content liabilities | 3,885 | 3,867 | 4,052 | 4,085 | — | 4,103 | 4,092 | 4,129 |
| Short-Term Debt | 2,475 | 2,484 | 999 | 999 | — | 0 | 0 | 1,006 |
| Non-current content liabilities | 1,723 | 1,626 | 1,626 | 1,579 | — | 1,592 | 1,606 | 1,697 |
| Line item | Q3 2026 2026-09-30 | Q2 2026 2026-06-30 | Q1 2026 2026-03-31 | Q4 2025 2025-12-31 | Q3 2025 2025-09-30 | Q2 2025 2025-06-30 | Q1 2025 2025-03-31 | Q4 2024 2024-12-31 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | 3,664 | 3,401 | 5,283 | 2,419 | 2,547 | 3,125 | 2,890 | 1,869 |
| Operating Cash Flow | 3,162 | 1,744 | 5,290 | 2,112 | 2,825 | 2,423 | 2,789 | 1,537 |
| Depreciation & Amortization (CF) | 107 | 101 | 99 | 86 | 87 | 80 | 80 | 80 |
| Share-Based Compensation | 134 | 131 | 140 | 135 | 81 | 81 | 72 | 62 |
| Change in Accounts Payable | 46 | -157 | 0 | 118 | 139 | 11 | -276 | 255 |
| Change in Accrued Liabilities | 86 | -1,250 | 1,296 | 135 | 707 | -267 | 306 | -125 |
| Change in Deferred Revenue | -18 | 54 | -32 | 51 | -4 | 119 | 89 | 8 |
| Other Non-Cash Items | 120 | 141 | 198 | 200 | 142 | 120 | 115 | 131 |
| Investing Activities | ||||||||
| Investing Cash Flow | -331 | -219 | -782 | -257 | 44 | 769 | 486 | -159 |
| Capital Expenditures | -279 | -219 | -196 | -239 | -165 | -156 | -128 | -159 |
| Acquisitions, Net of Cash | 0 | 0 | -586 | -17 | 0 | 0 | 0 | — |
| Purchase of Investments | -53 | 0 | 0 | -8 | -4 | -2 | -156 | 0 |
| Other Investing Activities | 0 | 0 | — | — | 36 | -36 | — | — |
| Financing Activities | ||||||||
| Financing Cash Flow | -3,755 | -4,670 | -1,231 | -2,077 | -1,737 | -2,503 | -4,028 | -679 |
| Repayment of Long-Term Debt | 0 | 0 | 0 | 0 | 0 | -1,033 | -800 | 0 |
| Share Repurchases | -4,797 | -4,714 | -1,271 | -2,080 | -1,857 | -1,654 | -3,536 | -964 |
| Proceeds from Stock Options | 75 | 60 | 49 | 76 | 70 | 169 | 352 | 302 |
| Taxes Paid for Share Settlement | -5 | -7 | -29 | -6 | -6 | -6 | -28 | -3 |
| Other Financing Activities | -20 | -9 | 20 | -68 | 56 | 22 | -16 | -14 |
| Reconciliation | ||||||||
| Effect of Exchange Rate Changes | 19 | -20 | -50 | -29 | -22 | 287 | 150 | -351 |
| Net Change in Cash | -905 | -3,164 | 3,228 | -252 | 1,110 | 977 | -603 | 348 |
| Other Items | ||||||||
| Additions to content assets | -5,160 | -4,928 | -4,847 | -5,057 | -4,654 | -3,836 | -3,550 | -4,429 |
| Change in content liabilities | 94 | -182 | 45 | -10 | 24 | -214 | -411 | -140 |
| Amortization of content assets | 4,235 | 4,311 | 4,218 | 4,764 | 4,003 | 3,832 | 3,823 | 4,162 |
| Gain (Loss), Foreign Currency Transaction, before Tax | -9 | -9 | -10 | -10 | -2 | 55 | 29 | -53 |
| Deferred income taxes | 182 | 81 | 59 | -163 | 21 | -136 | -164 | -73 |
| Increase (Decrease) in Other Current Assets | -136 | 112 | -705 | -313 | -170 | -177 | -131 | -42 |
| Increase (Decrease) in Other Noncurrent Assets and Liabilities, Net | -182 | -64 | -454 | -243 | -98 | -371 | -82 | -167 |
| Proceeds from Sale, Maturity and Collection of Investments | 0 | 0 | 0 | 8 | 176 | 962 | 770 | 0 |
| Proceeds from issuance of debt | 993 | — | — | 0 | 0 | — | — | 0 |
Ratios derived from the statements above and the EOD price feed; prices are taken at each period's end date.
| Line item | Q3 2026 2026-09-30 | Q2 2026 2026-06-30 | Q1 2026 2026-03-31 | Q4 2025 2025-12-31 | Q3 2025 2025-09-30 | Q2 2025 2025-06-30 | Q1 2025 2025-03-31 | Q4 2024 2024-12-31 |
|---|---|---|---|---|---|---|---|---|
| Financial Efficiency | ||||||||
| Asset Turnover | 0.22 | 0.21 | 0.20 | 0.22 | — | 0.20 | 0.20 | 0.20 |
| Current Ratio | 1.07 | 1.14 | 1.41 | 1.19 | — | 1.33 | 1.34 | 1.20 |
| Debt / EBITDA Ratio | 3.31 | 3.33 | 3.54 | 4.75 | — | 3.75 | 4.22 | 6.38 |
| Debt / Equity Ratio | 0.52 | 0.47 | 0.46 | 0.54 | — | 0.56 | 0.58 | 0.62 |
| Debt / FCF Ratio | 5.25 | 9.38 | 2.82 | 7.72 | — | 6.38 | 5.43 | 10.90 |
| Net Debt / EBITDA Ratio | 1.51 | 1.21 | 0.51 | 1.77 | — | 1.33 | 1.77 | 2.83 |
| Net Debt / Equity Ratio | 0.24 | 0.17 | 0.07 | 0.20 | — | 0.20 | 0.24 | 0.28 |
| Net Debt / FCF Ratio | 2.40 | 3.40 | 0.41 | 2.88 | — | 2.27 | 2.28 | 4.82 |
| Quick Ratio | 0.67 | 0.75 | 1.01 | 0.83 | — | 0.96 | 0.94 | 0.86 |
| Return on Assets (ROA) | 6.26% | 5.69% | 9.06% | 4.35% | — | 5.79% | 5.50% | 3.54% |
| Return on Capital Employed (ROCE) | 9.61% | 9.05% | 8.09% | 6.63% | — | 8.35% | 7.58% | 5.36% |
| Return on Equity (ROE) | 12.33% | 11.10% | 18.30% | 9.09% | — | 12.28% | 11.80% | 7.66% |
| Return on Invested Capital (ROIC) | 10.12% | 9.63% | 15.91% | 7.55% | — | 10.05% | 9.32% | 6.09% |
| Yields | ||||||||
| Earnings Yield | 1.28% | 1.13% | 1.30% | 0.61% | 0.50% | 0.55% | 0.73% | 0.13% |
| FCF Yield | 1.00% | 0.51% | 1.25% | 0.47% | 0.52% | 0.40% | 0.67% | 0.10% |
| Total Valuation | ||||||||
| Enterprise Value | 280,766 | 293,935 | 403,949 | 391,081 | — | 564,274 | 392,379 | 1,409,695 |
| Last Close Price | 69.58 | 71.40 | 96.15 | 93.76 | 119.89 | 133.91 | 93.25 | 89.13 |
| Market Capitalization | 287,676 | 299,116 | 406,021 | 396,482 | 508,888 | 569,413 | 398,442 | 1,416,340 |
| EV Ratios | ||||||||
| EV/EBIT Ratio | 62.97 | 70.11 | 102.08 | 132.27 | — | 149.49 | 117.23 | 620.26 |
| EV/EBITDA Ratio | 61.49 | 68.47 | 99.60 | 128.53 | — | 146.39 | 114.49 | 599.28 |
| EV/FCF Ratio | 97.37 | 192.72 | 79.30 | 208.88 | — | 248.87 | 147.46 | 1,022.84 |
| EV/Sales Ratio | 21.81 | 23.40 | 32.98 | 32.45 | — | 50.93 | 37.22 | 137.58 |
| Price Ratios | ||||||||
| P/FCF Ratio | 99.77 | 196.12 | 79.70 | 211.76 | 191.28 | 251.13 | 149.74 | 1,027.66 |
| P/OCF Ratio | 90.97 | 171.53 | 76.75 | 187.76 | 180.13 | 234.98 | 142.85 | 921.56 |
| P/TBV Ratio | 9.82 | 9.92 | 13.04 | 14.90 | — | 21.94 | 15.97 | 58.95 |
| PB Ratio | 9.82 | 9.92 | 13.04 | 14.90 | — | 21.94 | 15.97 | 58.95 |
| PE Ratio | 78.18 | 88.15 | 76.92 | 163.94 | 199.82 | 180.96 | 137.14 | 757.93 |
| PEG Ratio | 7.91 | — | 0.65 | — | — | 20.52 | 0.29 | — |
| PS Ratio | 22.35 | 23.82 | 33.15 | 32.90 | 44.21 | 51.39 | 37.79 | 138.23 |