| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $45.18B | $39.00B | $33.72B | $31.62B | $29.70B | $25.00B | $20.16B | $15.79B |
| Cost of Revenue | $23.28B | $21.04B | $19.72B | $19.17B | $17.33B | $15.28B | $12.44B | $9.97B |
| Gross Profit | $21.91B | $17.96B | $14.01B | $12.45B | $12.37B | $9.72B | $7.72B | $5.83B |
| Gross Margin | 48.49% | 46.06% | 41.54% | 39.37% | 41.64% | 38.89% | 38.28% | 36.89% |
| Operating Expenses | $8.58B | $7.54B | $7.05B | $6.81B | $6.17B | $5.13B | $5.11B | $4.22B |
| Operating Income | $13.33B | $10.42B | $6.95B | $5.63B | $6.19B | $4.59B | $2.60B | $1.61B |
| Operating Margin | 29.49% | 26.71% | 20.62% | 17.82% | 20.86% | 18.34% | 12.92% | 10.16% |
| Net Income | $10.98B | $8.71B | $5.41B | $4.49B | $5.12B | $2.76B | $1.87B | $1.21B |
| Net Margin | 24.30% | 22.34% | 16.04% | 14.21% | 17.23% | 11.05% | 9.26% | 7.67% |
| EPS (Basic) | $2.58 | $2.03 | $1.23 | $1.01 | $1.16 | $0.63 | $0.43 | $0.28 |
| EBITDA | N/A | $26.31B | $21.51B | $20.33B | $19.04B | $15.51B | $12.01B | $9.26B |
| Stock Option Compensation Expense | N/A | $272.59M | $339.37M | $575.45M | $403.22M | $415.18M | $405.38M | $320.66M |
| Price To Earnings Ratio | N/A | 43.94 | 39.76 | 29.19 | 52.18 | 86.34 | 75.89 | 96.22 |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | N/A | $382.83B | $215.00B | $131.14B | $266.96B | $238.41B | $141.67B | $116.55B |
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Short Term Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventories | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Property, Plant & Equipment | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Investments and Advances | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Note Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Intangible Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Assets | $55.60B | $53.63B | $48.73B | $48.59B | $44.58B | $39.28B | $33.98B | $25.97B |
| Short Term Debt Incl. Current Port. of LT Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Provision for Risks Charges | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $28.98B | $28.89B | $28.14B | $27.82B | $28.74B | $28.22B | $26.39B | $20.74B |
| Non-Equity Reserves | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Preferred Stock - Carrying Value | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Common Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Shareholders Equity | $26.62B | $24.74B | $20.59B | $20.78B | $15.85B | $11.07B | $7.58B | $5.24B |
| Accumulated Minority Interest | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $26.62B | $24.74B | $20.59B | $20.78B | $15.85B | $11.07B | $7.58B | $5.24B |
| Total Liabilities & Stockholders Equity | $55.60B | $53.63B | $48.73B | $48.59B | $44.58B | $39.28B | $33.98B | $25.97B |
| Book Value Per Share | N/A | $5.76 | $4.66 | $4.67 | $3.58 | $2.51 | $1.73 | $1.20 |
| Tangible Book Value Per Share | N/A | $-1.79 | $-2.51 | $-2.69 | $-3.40 | $-3.25 | $-3.87 | $-2.23 |
| Full-Time Employees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Book Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | 16.24% | 11.10% | 9.24% | 11.48% | 7.03% | 5.49% | 4.66% |
| Return on Equity | N/A | 35.21% | 26.27% | 21.62% | 32.28% | 24.96% | 24.62% | 23.12% |
| Return on Invested Capital | N/A | 20.20% | 14.91% | 11.72% | 14.62% | 12.28% | 8.63% | 8.14% |
| Quick Ratio | N/A | 1.22 | 1.12 | 1.17 | 0.95 | 1.25 | 0.90 | 1.49 |
| Current Ratio | N/A | 1.22 | 1.12 | 1.17 | 0.95 | 1.25 | 0.90 | 1.49 |
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $10.98B | $8.71B | $5.41B | $4.49B | $5.12B | $2.76B | $1.87B | $1.21B |
| Depreciation | N/A | $15.63B | $14.55B | $14.36B | $12.44B | $10.92B | $9.32B | $7.62B |
| Other Funds (Non Cash) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Funds from Operations | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Extraordinary Item | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Changes in Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Taxes Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Operating Activities | $10.15B | $7.36B | $7.27B | $2.03B | $392.61M | $2.43B | $-2.89B | $-2.68B |
| Capital Expenditures | N/A | $439.54M | $348.55M | $407.73M | $524.59M | $497.92M | $253.03M | $212.53M |
| Net Assets From Acquisitions | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale of Fixed Assets and Businesses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase or Sale of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale Or Maturity of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Sources | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Investing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Dividends Paid | N/A | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Change in Capital Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Repurchase of Common Pref Stock | N/A | $6.26B | $6.05B | $0.00 | $600.02M | $0.00 | $0.00 | $0.00 |
| Sale of Common Pref Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Proceeds from Stock Options | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance or Reduction of Debt, Net | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Reduction of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Financing Active Other Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Financing Activities Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Financing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Exchange Rate Effect | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Change in Cash | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | $6.92B | $6.93B | $1.62B | $-131.97M | $1.93B | $-3.14B | $-2.89B |
| Preferred Dividends (Cash Flow) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Company coverage
Netflix, Inc. serves as a worldwide entertainment provider. Its comprehensive library features television series, motion pictures, documentaries, and mobile games, spanning numerous genres and languages. Members can effortlessly stream this content through a variety of internet-connected devices, including smart TVs, digital media players, cable boxes, and mobile phones. Furthermore, the company continues to offer a DVD-by-mail subscription service to its customers in the United States. With roughly 222 million paying subscribers distributed across 190 countries, Netflix was founded in 1997 and is headquartered in Los Gatos, California.
Why it moved over time
Netflix's ad business is starting to scale, signaling NFLX can diversify revenue beyond subscriptions and potentially accelerate top-line growth and profit margins—an investor catalyst for revaluation.
Key fact: The company said its advertising business is becoming a meaningful second growth engine.
gurufocus.com: Netflix's Ad Business Is Starting to ScaleNetflix agreed to a reported $500 million global licensing deal for The Walking Dead universe, a major content acquisition likely to boost subscriber engagement and monetization worldwide.
Key fact: Reported $500 million global licensing agreement for The Walking Dead universe announced July 30, 2026.
forbes.com: Netflix's ‘72 Hours' Is One Of Its Worst-Reviewed Comedy Movies EverA bearish analyst note this week saying Netflix won’t double by 2031—citing slowing revenue, weaker engagement and rising content costs—is likely heightening investor growth concerns and pressuring sentiment.
Key fact: Analyst Neil Patel wrote that Netflix stock is unlikely to double by 2031 due to slowing revenue growth, softening engagement metrics, intensifying competition, and accelerating content spending.
The Motley Fool: Prediction: Netflix Stock Won't Double by 2031