Saturday 17 October 2026 Export NFLX’s income statement to Excel — free account

Netflix, Inc.

NFLX Communication Services Entertainment

Netflix, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $45.2 billion, up 15.9% from fiscal 2024. In the quarter to June 2026, revenue grew 13.4%, EPS grew 10.2%, free cash flow fell 32.7% and total debt fell 18.2%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for three.

70.53 2.08 −2.86%

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Market cap: $302.3B
P/E: 21.8×
Fwd P/E: 22.9×
Dividend yield: —
F-score: 7/9
Altman Z: 10.96
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Share dilution Jul 17, 2026

All filings →

Insider Decisions trades per month

Total sells 357.18

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	7	1	4	6	2	2	5	2	—	5	2	—

Insider Ownership 1.42%

Capital & Financial Ratios $m

Market Cap 302,340.00

Revenue 48,370.77

Net Income 13,649.64

Free Cash Flow 11,152.00

Net Debt 2,697.64

Current Ratio 1.14

Debt/Equity 0.39

P/E ratio 21.84

Fwd P/E 22.90

P/S ratio 6.11

P/B ratio 9.80

Past 5Y EPS Growth 33.00%

This Y EPS Growth 42.15%

Next Y EPS Growth 5.61%

Next Y revenue growth 13.36%

Next 5Y EPS Growth 21.55%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 5.31%

10-year low 10-year high

P/S against its own 10 years 22.71%

10-year low 10-year high

P/B against its own 10 years 16.96%

10-year low 10-year high

EV/Sales against its own 10 years 21.56%

10-year low 10-year high

EV/FCF against its own 10 years 1.89%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	7,138	9,584	9,062	9,128
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	2,780	3,517	3,958	4,725
	9,918	13,100	13,020	13,853

	2023	2024	2025	Q'26
Payables	747	900	901	815
ST’ Debt	—	—	—	—
Other	4,466	4,394	4,085	3,867
	8,861	10,755	10,981	12,135

Compound Annual Growth %

	10y	5y	3y
Sales	20.89%	12.57%	12.64%
Cash Flow	0.00%	33.13%	71.10%
Earnings	56.75%	31.80%	34.71%
Book Value	28.18%	19.19%	8.60%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	12,250	12,560	—	—	—
’25	10,543	11,079	11,510	12,051	45,183
’24	9,370	9,559	9,825	10,247	39,001
’23	8,162	8,187	8,542	8,833	33,723
’22	7,868	7,970	7,926	7,852	31,616
’21	7,163	7,342	7,483	7,709	29,698
’20	5,768	6,148	6,436	6,644	24,996

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	5,290	1,744	—	—	—
’25	2,789	2,423	2,825	2,112	10,149
’24	2,213	1,291	2,321	1,537	7,361
’23	2,179	1,440	1,992	1,663	7,274
’22	923	103	557	444	2,026
’21	777	(64)	82	(403)	393
’20	260	1,041	1,264	(138)	2,427

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	5,094	1,525	—	—	—
’25	2,661	2,267	2,660	1,872	9,461
’24	2,137	1,213	2,194	1,378	6,922
’23	2,117	1,339	1,888	1,581	6,926
’22	802	13	472	332	1,619
’21	696	(174)	(85)	(1,358)	(920)
’20	162	899	1,154	(286)	1,929

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.23	0.80	—	—	—
’25	0.66	0.72	0.59	0.56	2.53
’24	0.53	0.49	0.54	0.43	1.98
’23	0.29	0.33	0.37	0.21	1.20
’22	0.35	0.32	0.31	0.01	1.00
’21	0.38	0.30	0.32	0.13	1.12
’20	0.16	0.16	0.17	0.12	0.61

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	8.00	12.43	19.54	25.23	29.03	47.85	16.27	28.53	46.19	82.11	Analyst estimates 2026–2028 Powerpack
	High	12.93	20.44	42.32	38.60	57.54	70.10	61.00	50.09	94.18	134.12
People
People	Employees	4,700	5,500	7,300	8,600	9,400	11,300	12,800	13,000	14,000	16,000
	Revenue/emp, $m	1.88	2.13	2.16	2.34	2.66	2.63	2.47	2.59	2.79	2.82
Income, $m
Income, $m	Revenue	8,831	11,693	15,794	20,156	24,996	29,698	31,616	33,723	39,001	45,183
	Gross margin, %	29.14	31.30	36.89	38.28	38.89	41.64	39.37	41.54	46.06	48.49
	EBT	261	485	1,226	2,062	3,199	5,840	5,264	6,205	9,966	12,723
	EBT margin, %	2.95	4.15	7.77	10.23	12.80	19.67	16.65	18.40	25.55	28.16
	Net income	187	559	1,211	1,867	2,761	5,116	4,492	5,408	8,712	10,981
	Depreciation	4,925	6,270	7,615	9,320	10,923	12,439	14,363	14,554	15,630	16,756
Per share, $
Per share, $	Revenue	2.06	2.71	3.63	4.60	5.67	6.70	7.11	7.64	9.08	10.63
	Earnings	0.04	0.13	0.28	0.43	0.63	1.16	1.01	1.23	2.03	2.58
	Cash flow	(0.34)	(0.41)	(0.62)	(0.66)	0.55	0.09	0.46	1.65	1.71	2.39
	Capex	(0.04)	(0.04)	(0.04)	(0.06)	(0.11)	(0.30)	(0.09)	(0.08)	(0.10)	(0.16)
	Free cash flow	(0.39)	(0.45)	(0.66)	(0.72)	0.44	(0.21)	0.36	1.57	1.61	2.23
	Book value	0.62	0.83	1.20	1.73	2.51	3.58	4.67	4.66	5.76	6.26
	Shares, m	4,288	4,319	4,354	4,378	4,409	4,432	4,447	4,416	4,295	4,250
Valuation, ×
Valuation, ×	P/E	289.77	155.89	96.30	75.78	86.37	52.20	29.21	38.31	43.95	36.33
	P/S	6.19	7.43	7.38	7.03	9.54	8.99	4.15	6.13	9.82	8.82
	P/B	20.40	24.25	22.25	18.68	21.55	16.84	6.31	10.05	15.47	14.97
	EV/Sales	6.38	7.74	7.79	7.51	9.84	9.28	4.41	6.34	9.92	8.92
	EV/FCF	(33.94)	(44.79)	(42.52)	(47.59)	130.31	(289.70)	174.55	35.03	63.43	46.62
Cash, $m
Cash, $m	Operating cash flow	(1,474)	(1,786)	(2,680)	(2,887)	2,427	393	2,026	7,274	7,361	10,149
	Capex	(185)	(173)	(174)	(253)	(498)	(1,313)	(408)	(349)	(440)	(688)
	Free cash flow	(1,659)	(1,959)	(2,854)	(3,140)	1,929	(920)	1,619	6,926	6,922	9,461
Balance, $m
Balance, $m	Working capital	1,134	2,204	3,207	(677)	1,956	(419)	1,335	1,057	2,345	2,039
	Total debt	3,364	6,499	10,360	14,759	15,809	14,693	14,353	14,143	13,798	13,464
	Net debt	1,631	3,677	6,566	9,741	7,604	8,665	8,295	7,006	4,215	4,402
	Shareholders’ equity	2,680	3,582	5,239	7,582	11,065	15,849	20,777	20,588	24,744	26,615
Returns, %
Returns, %	ROA	1.57	3.43	5.38	6.23	7.54	12.20	9.64	11.11	17.02	20.11
	ROIC	5.51	7.22	8.50	9.40	15.35	15.79	12.11	15.75	22.48	26.85
	ROE	7.61	17.85	27.46	29.12	29.62	38.02	24.53	26.15	38.43	42.76

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NFLX Netflix, Inc.	$302.3B	21.8×	22.9×	+13.37% (above 0%: growing)	+10.20% (above 0%: growing)	−32.73% (below 0%: shrinking)	51.93%	33.38%
DIS The Walt Disney Company	$191.1B	22.7×	17.0×	+6.76% (above 0%: growing)	−47.95% (below 0%: shrinking)	+62.63% (above 0%: growing)	40.17%	15.29%	Compare
LYV Live Nation Entertainment, Inc.	$40.7B	— (loss-making)	— (loss-making)	+9.42% (above 0%: growing)	−18.82% (below 0%: shrinking)	+751.84% (above 0%: growing)	25.34%	6.81%	Compare
TKO TKO Group Holdings, Inc.	$33.3B	58.7×	45.3×	+18.24% (above 0%: growing)	+13.33% (above 0%: growing)	−6.77% (below 0%: shrinking)	64.05%	27.78%	Compare
FOXA Fox Corporation	$25.5B	16.7×	12.1×	+28.14% (above 0%: growing)	+2.55% (above 0%: growing)	−47.92% (below 0%: shrinking)	43.49%	25.74%	Compare
FOX Fox Corporation	$25.4B	14.9×	12.1×	+28.14% (above 0%: growing)	+2.55% (above 0%: growing)	−47.92% (below 0%: shrinking)	43.49%	25.74%	Compare
ROKU Roku, Inc.	$23.0B	64.4×	50.8×	+21.93% (above 0%: growing)	+1,485.71% (above 0%: growing)	+158.61% (above 0%: growing)	49.73%	10.79%	Compare
FWONA Liberty Media Corporation - Liberty Formula One Series A	$22.7B	80.0×	—	+24.06% (above 0%: growing)	−98.69% (below 0%: shrinking)	+35.16% (above 0%: growing)	20.97%	0.00%	Compare
FWONK Liberty Media Corporation - Liberty Formula One Series C	$22.6B	87.3×	89.9×	+24.06% (above 0%: growing)	−98.69% (below 0%: shrinking)	+35.16% (above 0%: growing)	20.97%	0.00%	Compare
Median of peers	$25.5B	58.7×	31.2×	+23.00%	−8.13%	+35.16%	41.83%	13.04%

All 53 Entertainment stocks →

Netflix, Inc. (NFLX) key facts

Strength: Netflix, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $45.2 billion, up 15.9% from fiscal 2024.
Strength: Net income was $11.0 billion, or $2.58 per share (basic), a net margin of 24.3%.
Netflix, Inc. (NFLX) is an Entertainment company in the Communication Services sector, listed on Nasdaq.
As of October 16, 2026, NFLX traded at $70.53, a market capitalization of $302.3 billion.
At that price the stock trades at 21.8× trailing-twelve-month earnings and 6.1× sales; its P/E is higher than 5% of its own readings over the past ten years.
Return on equity was 42.8% and debt-to-equity 0.39.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 10.96 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated 25 September 2026

Netflix generated $45.2 billion of revenue and $11.0 billion of net income in FY2025, with operating income of $13.3 billion. In Q2 FY2026, revenue was $12.6 billion, operating income was $4.2 billion, and net income was $3.4 billion. Revenue for the TTM to Q2 FY2026 was $48.4 billion.

Profitability measures increased over the five fiscal years to FY2025, while free cash flow reached $9.5 billion in FY2025. Net debt was $2.7 billion in Q2 FY2026. As of September 24, 2026, the P/E was 22.2×, below the company’s five-year and ten-year median P/E measures.

Read the full analysis →