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.
Follow NFLX
Netflix, Inc. (NFLX) Operating margin
Netflix, Inc.'s operating margin over the twelve months to 30 June 2026 was 29.7%, up 0.2 percentage points from fiscal 2025 (29.5%). Over the past ten years it has ranged from 4.30% (fiscal 2016) to 29.5% (fiscal 2025) — the current reading is the highest in ten years. That is above the Entertainment industry median of 2.34% and above the Communication Services sector median of 0.35%.
Operating margin, annual
Embed this chart
Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 29.5% | 2.78 |
| FY2024 | 26.7% | 6.09 |
| FY2023 | 20.6% | 2.80 |
| FY2022 | 17.8% | (3.04) |
| FY2021 | 20.9% | 2.52 |
| FY2020 | 18.3% | 5.42 |
| FY2019 | 12.9% | 2.76 |
| FY2018 | 10.2% | 2.99 |
| FY2017 | 7.17% | 2.87 |
| FY2016 | 4.30% | (0.21) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 33.4% | 1.08 |
| Mar 2026 | 32.3% | 7.76 |
| Dec 2025 | 24.5% | (3.68) |
| Sep 2025 | 28.2% | (5.85) |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| NFLX Netflix, Inc. | 29.7% |
| FOXA Fox Corporation compare | 20.4% |
| FOX Fox Corporation compare | 20.4% |
| TKO TKO Group Holdings, Inc. compare | 18.8% |
| DIS The Walt Disney Company compare | 13.7% |
| ROKU Roku, Inc. compare | 5.25% |
| LYV Live Nation Entertainment, Inc. compare | 3.05% |
| FWONK Liberty Media Corporation - Liberty Formula One Series C compare | 0.00% |
| FWONA Liberty Media Corporation - Liberty Formula One Series A compare | 0.00% |
| Entertainment industry median | 2.34% |
| Communication Services sector median | 0.35% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on NFLX
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- The full statement