NETFLIX INC
NFLX· Nasdaq· Services-Video Tape Rental
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 20.9%
- ROIC, 5 yr avg
- 25.1%
- Revenue, 5 yr CAGR
- +12.6%
We record prices for the companies we cover; NFLX is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 4.34B
- Revenue
- $45.2B
- Free cash flow
- $9.5B
- Owner earnings
- $9.1B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 29.5%
- Net
- 24.3%
- Free cash flow
- 20.9%
- Owner earnings
- 20.1%
- Stock pay
- 0.8%
Returns
- ROIC, FY2025
- 35.9%
- ROIC, 5 yr avg
- 25.1%
- ROE, FY2025
- 41.3%
- ROE, 5 yr avg
- 31.3%
Growth (CAGR)
- Revenue, 3 yr
- 12.6%
- Revenue, 5 yr
- 12.6%
- Revenue, 9 yr
- 19.9%
- Diluted EPS, 3 yr
- 36.5%
- Diluted EPS, 5 yr
- 33.0%
- Diluted EPS, 9 yr
- 57.3%
- Free cash flow, 3 yr
- 80.1%
- Free cash flow, 5 yr
- 37.4%
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $9.1B
- Total debt
- $14.5B
- Net debt
- $5.4B
- Debt/Equity
- 0.5x
- Debt/FCF
- 1.5x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -0.9%
Financials: ten years from the 10-Ks
Revenue
$45.2B
+19.9% a year over 9 years
FY2016FY2025
Margins
Operating29.5%Net24.3%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$9.5BOwner earnings$9.1B
FY2025
FY2016FY2025
Diluted shares
4.34B
-1.0% over 9 years, net buybacks
FY2016FY2025
Return on invested capital
35.9%
FY2025
FY2016FY2025
Net debt (below zero)
-$5.4B
$5.4B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $8.8B | $11.7B | $15.8B | $20.2B | $25.0B | $29.7B | $31.6B | $33.7B | $39.0B | $45.2B |
| Revenue growth | 30.3% | 32.4% | 35.1% | 27.6% | 24.0% | 18.8% | 6.5% | 6.7% | 15.6% | 15.9% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 4.3% | 7.2% | 10.2% | 12.9% | 18.3% | 20.9% | 17.8% | 20.6% | 26.7% | 29.5% |
| Net income | $186.7M | $558.9M | $1.2B | $1.9B | $2.8B | $5.1B | $4.5B | $5.4B | $8.7B | $11.0B |
| Net margin | 2.1% | 4.8% | 7.7% | 9.3% | 11.0% | 17.2% | 14.2% | 16.0% | 22.3% | 24.3% |
| Diluted EPS | $0.04s | $0.13s | $0.27s | $0.41s | $0.61s | $1.12s | $0.99s | $1.20 | $1.98 | $2.53 |
| Return on invested capital? | 5.9% | – | 13.4% | 13.6% | 20.6% | 21.5% | 16.5% | 21.6% | 29.6% | 35.9% |
| Cash | ||||||||||
| Operating cash flow | -$1.5B | -$1.8B | -$2.7B | -$2.9B | $2.4B | $392.6M | $2.0B | $7.3B | $7.4B | $10.1B |
| Capital expenditure | $107.7M | $173.3M | $173.9M | $253.0M | $497.9M | $524.6M | $407.7M | $348.6M | $439.5M | $688.2M |
| Free cash flow | -$1.6B | -$2.0B | -$2.9B | -$3.1B | $1.9B | -$132.0M | $1.6B | $6.9B | $6.9B | $9.5B |
| Stock-based compensation | $173.7M | $182.2M | $320.7M | $405.4M | $415.2M | $403.2M | $575.5M | $339.4M | $272.6M | $368.4M |
| Owner earnings? | -$1.8B | -$2.1B | -$3.2B | -$3.5B | $1.5B | -$535.2M | $1.0B | $6.6B | $6.6B | $9.1B |
| Free cash flow per share | $-0.36 | $-0.44 | $-0.63 | $-0.70 | $0.42 | $-0.03 | $0.36 | $1.54 | $1.58 | $2.18 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | $0 | $0 | $600.0M | $0 | $6.0B | $6.3B | $9.1B |
| Diluted shares | 4.39Bs | 4.47Bs | 4.51Bs | 4.52Bs | 4.54Bs | 4.55Bs | 4.51Bs | 4.49B | 4.39B | 4.34B |
| Share count change? | 0.5% | 1.9% | 1.0% | 0.1% | 0.5% | 0.3% | -0.9% | -0.4% | -2.3% | -1.1% |
| Balance sheet | ||||||||||
| Cash and equivalents | $1.5B | $2.8B | $3.8B | $5.0B | $8.2B | $6.0B | $5.1B | $7.1B | $7.8B | $9.0B |
| Short-term investments | – | – | – | – | – | $0 | $911.3M | $21.0M | $1.8B | $28.7M |
| Total debt | $3.4B | $6.5B | $10.4B | $14.8B | $16.3B | $15.4B | $14.4B | $14.5B | $15.6B | $14.5B |
| Net debt | $1.9B | $3.7B | $6.6B | $9.7B | $8.1B | $9.4B | $8.3B | $7.4B | $6.0B | $5.4B |
| Shareholders' equity | $2.7B | $3.6B | $5.2B | $7.6B | $11.1B | $15.8B | $20.8B | $20.6B | $24.7B | $26.6B |
Latest filings
| 2026-10-21 | 10-Q | Quarterly report |
| 2026-10-20 | 8-K | Earnings release |
| 2026-07-17 | 10-Q | Quarterly report |
| 2026-07-16 | 8-K | Earnings release |
| 2026-04-17 | 10-Q | Quarterly report |
| 2026-04-16 | DEF 14A | Proxy statement |
| 2026-04-16 | 8-K | Earnings release |
| 2026-01-23 | 10-K | Annual report |
| 2026-01-20 | 8-K | Earnings release |
| 2025-10-22 | 10-Q | Quarterly report |
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