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Friday 6 November 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.

Revenue
+11.9%
EPS
+48.3%
Free cash flow
+8.38%
Total debt
−12.5%

Quarter to September 2026, against a year earlier

65.50 0.89 −1.34%
Market cap
$269.2B
P/E
18.6×
Fwd P/E
17.3×
Dividend yield
—
F-score
7/9
Altman Z
10.96
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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Netflix, Inc. (NFLX) Gross margin

Alert me on Gross margin

Netflix, Inc.'s gross margin over the twelve months to 30 September 2026 was 50.7%, up 2.2 percentage points from fiscal 2025 (48.5%). Over the past ten years it has ranged from 29.1% (fiscal 2016) to 48.5% (fiscal 2025) — the current reading is the highest in ten years. That is above the Entertainment industry median of 40.0% and in line with the Communication Services sector median of 51.3%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 48.5% 2.43
FY2024 46.1% 4.52
FY2023 41.5% 2.17
FY2022 39.4% (2.27)
FY2021 41.6% 2.75
FY2020 38.9% 0.61
FY2019 38.3% 1.39
FY2018 36.9% 5.59
FY2017 31.3% 2.16
FY2016 29.1% (3.13)

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 52.8% 0.85
Jun 2026 51.9% 0.00
Mar 2026 51.9% 6.06
Dec 2025 45.9% (0.58)
43 more quarters

Against its own ten years

Low 29.1% High 48.5%
Ten-year median 38.9%
Current reading's percentile 100

Gross margin against peers

Company Gross margin
TKO TKO Group Holdings, Inc. compare 59.5%
NFLX Netflix, Inc. 50.7%
FOXA Fox Corporation compare 38.2%
FOX Fox Corporation compare 38.2%
DIS The Walt Disney Company compare 37.6%
SKYD Skydance Corporation compare 33.3%
FWONK Liberty Media Corporation - Liberty Formula One Series C compare 19.5%
FWONA Liberty Media Corporation - Liberty Formula One Series A compare 19.5%
LYV Live Nation Entertainment, Inc. compare 0.00%
Entertainment industry median 40.0%
Communication Services sector median 51.3%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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