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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.

65.85 1.20 −1.79%
Market cap
$275.3B
P/E
20.4×
Fwd P/E
19.7×
Dividend yield
—
F-score
7/9
Altman Z
10.96
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Netflix, Inc. (NFLX) Earnings & Analysis

Updated · Covers results through Q2 FY2026 · Sources · How this is made

Latest quarter

Netflix reported adjusted EPS of $0.87 for the quarter to September 30, 2026, compared with the consensus estimate of $0.82; the company’s reported result was 6.10% above the consensus. Netflix reported revenue of $12.9 billion for that period, compared with consensus revenue of $12.9 billion, or 0.05% above the consensus.

For Q2 FY2026, Netflix reported revenue of $12.6 billion, up 13.4% from $11.1 billion in Q2 FY2025. The company reported diluted EPS of $0.80, up 11.3% from $0.72 a year earlier. Netflix reported gross margin of 51.9%, unchanged from Q2 FY2025, while operating margin was 33.4%, compared with 34.1% a year earlier. The company reported free cash flow of $1.5 billion, compared with $2.3 billion in Q2 FY2025.

Q2 FY2026 Q2 FY2025 Change
Revenue $12.6 billion $11.1 billion 13.4%
Diluted EPS $0.80 $0.72 11.3%
Gross margin 51.9% 51.9% 0.0 percentage points
Operating margin 33.4% 34.1% −0.7 percentage points
Free cash flow $1.5 billion $2.3 billion −32.7%
Against the consensus Reported Consensus Result
Adjusted EPS $0.87 $0.82 Beat by 6.10%
Revenue $12.9 billion $12.9 billion In line

Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.

What management said on the call

An earnings call was not available, so Netflix’s latest call commentary, analyst questions and management responses are not available for this section.

Guidance

In its October 20 results release, Netflix adjusted its FY2026 free-cash-flow forecast to approximately $12.0 billion from its prior projection of $12.5 billion, primarily because of the expected closing of a real estate transaction in Q4.

Metric For Guide Previous guide Change
Free cash flow FY2026 $12.0 billion — New
Operating income growth, Annual Growth FY2026 20.0% — New
Operating margin FY2026 31.5% — New
Revenue FY2026 $51.1 billion — New
Operating margin Q4 FY2026 26.0% — New
Revenue Q4 FY2026 $13.4 billion — New

This page is for information only. It is not investment advice, a recommendation or an offer to buy or sell any security. Figures come from the sources listed above and may contain errors; verify against the company's filings.