Revenue
$45.18B
Fiscal year ended 2025-12-31Operating income
$13.33B
Fiscal year ended 2025-12-31Free cash flow
$9.46B
Fiscal year ended 2025-12-31NETFLIX INC (NFLX) reported revenue of $45.18B and net income of $10.98B for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from NETFLIX INC’s SEC filings, each linked to the filing it came from.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $45.18B | $39.00B | $33.72B | $31.62B | $29.70B | $25.00B | $20.16B | $15.79B | $11.69B | $8.83B |
| Cost of revenue | $23.28B | $21.04B | $19.72B | $19.17B | $17.33B | $15.28B | $12.44B | $9.97B | $8.03B | $6.26B |
| Gross profit | $21.91B | $17.96B | $14.01B | $12.45B | $12.37B | $9.72B | $7.72B | $5.83B | $3.66B | $2.57B |
| Operating income | $13.33B | $10.42B | $6.95B | $5.63B | $6.19B | $4.59B | $2.60B | $1.61B | $838.68M | $379.79M |
| Net income | $10.98B | $8.71B | $5.41B | $4.49B | $5.12B | $2.76B | $1.87B | $1.21B | $558.93M | $186.68M |
| Research & development | $3.39B | $2.93B | $2.68B | $2.71B | $2.27B | $1.83B | $1.67B | $1.22B | $981.00M | $768.00M |
| Weighted-average diluted shares | shares 4.34B | shares 4.39B | shares 4.49B | shares 451.29M | shares 455.37M | shares 454.21M | shares 451.76M | shares 451.24M | shares 446.81M | shares 438.65M |
| Pretax income | $12.72B | $9.97B | $6.21B | $5.26B | $5.84B | $3.20B | $2.06B | $1.23B | $485.32M | $260.51M |
| Income tax expense | $1.74B | $1.25B | $797.42M | $772.00M | $723.88M | $437.95M | $195.32M | $15.22M | -$73.61M | $73.83M |
| Diluted EPS | $2.53 | $1.98 | $1.20 | $9.95 | $11.24 | $6.08 | $4.13 | $2.68 | $1.25 | $0.43 |
| Selling, general & administrative | $5.19B | $4.62B | $4.38B | $4.10B | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | $1.89B | $1.70B | $1.72B | $1.57B | $1.35B | $1.08B | $914.37M | $630.29M | $431.04M | $315.66M |
| Selling & marketing | $3.30B | $2.92B | $2.66B | $2.53B | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $9.03B | $7.80B | $7.12B | $5.15B | $6.03B | $8.21B | $5.02B | $3.79B | $2.82B | $1.47B |
| Total assets | $55.60B | $53.63B | $48.73B | $48.59B | $44.58B | $39.28B | $33.98B | $25.97B | $19.01B | $13.59B |
| Current assets | $13.02B | $13.10B | $9.92B | $9.27B | $8.07B | $9.76B | $6.18B | $9.69B | $7.67B | $5.72B |
| Total liabilities | $28.98B | $28.89B | $28.14B | $27.82B | $28.74B | $28.22B | $26.39B | $20.74B | $15.43B | $10.91B |
| Current liabilities | $10.98B | $10.76B | $8.86B | $7.93B | $8.49B | $7.81B | $6.86B | $6.49B | $5.47B | $4.59B |
| Total equity incl. NCI | $26.62B | $24.74B | $20.59B | $20.78B | $15.85B | $11.07B | $7.58B | $5.24B | $3.58B | $2.68B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt | $13.46B | $13.80B | $14.14B | $14.35B | $14.69B | $15.81B | $14.76B | $10.36B | $6.50B | $3.36B |
| Accounts payable | $900.61M | $899.91M | $747.41M | $671.51M | $837.48M | $656.18M | $674.35M | $562.98M | $359.56M | $312.84M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $10.15B | $7.36B | $7.27B | $2.03B | $392.61M | $2.43B | -$2.89B | -$2.68B | -$1.79B | -$1.47B |
| Capital expenditures | $688.22M | $439.54M | $348.55M | $407.73M | $524.58M | $497.92M | $253.04M | $173.95M | $173.30M | $107.65M |
| Investing cash flow | $1.04B | -$2.18B | $541.75M | -$2.08B | -$1.34B | -$505.35M | -$387.06M | -$339.12M | $34.33M | $49.76M |
| Financing cash flow | -$10.35B | -$4.07B | -$5.95B | -$664.25M | -$1.15B | $1.24B | $4.51B | $4.05B | $3.08B | $1.09B |
| Net change in cash | $1.23B | $688.82M | $1.95B | -$884.53M | -$2.18B | $3.20B | $1.23B | $989.25M | $1.36B | -$341.75M |
| Stock-based compensation | $368.45M | $272.59M | $339.37M | $575.45M | $403.22M | $415.18M | $405.38M | $320.66M | $182.21M | $173.68M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $9.13B | $6.26B | $6.05B | $0 | $600.02M | $0 | $0 | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $333.39M | $328.91M | $356.95M | $336.68M | $208.41M | $115.71M | $103.58M | $83.16M | $71.91M | $57.53M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $9.46B | $6.92B | $6.93B | $1.62B | -$131.98M | $1.93B | -$3.14B | -$2.85B | -$1.96B | -$1.58B |
| Gross margin | 48.5% | 46.1% | 41.5% | 39.4% | 41.6% | 38.9% | 38.3% | 36.9% | 31.3% | 29.1% |
| Operating margin | 29.5% | 26.7% | 20.6% | 17.8% | 20.9% | 18.3% | 12.9% | 10.2% | 7.2% | 4.3% |
| FCF margin | 20.9% | 17.7% | 20.5% | 5.1% | -0.4% | 7.7% | -15.6% | -18.1% | -16.8% | -17.9% |
| SBC / revenue | 0.8% | 0.7% | 1.0% | 1.8% | 1.4% | 1.7% | 2.0% | 2.0% | 1.6% | 2.0% |
| Current ratio | 1.19x | 1.22x | 1.12x | 1.17x | 0.95x | 1.25x | 0.90x | 1.49x | 1.40x | 1.25x |
| Revenue YoY growth | 15.9% | 15.6% | 6.7% | 6.5% | 18.8% | 24.0% | 27.6% | 35.1% | 32.4% | Unavailable |
| Net margin | 24.3% | 22.3% | 16.0% | 14.2% | 17.2% | 11.0% | 9.3% | 7.7% | 4.8% | 2.1% |
| R&D / revenue | 7.5% | 7.5% | 7.9% | 8.6% | 7.7% | 7.3% | Unavailable | 7.7% | 8.4% | 8.7% |
| CapEx / revenue | 1.5% | 1.1% | 1.0% | 1.3% | 1.8% | 2.0% | 1.3% | 1.1% | 1.5% | 1.2% |
| Long-term debt / equity | 0.51x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 13.7% | 12.6% | 12.9% | 14.7% | 12.4% | 13.7% | 9.5% | 1.2% | -15.2% | 28.3% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open NFLX in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-17View SEC filing
10-Q · Filed 2026-04-17View SEC filing
10-K · Filed 2026-01-23View SEC filing
10-Q · Filed 2025-10-22View SEC filing
10-Q · Filed 2025-07-18View SEC filing
10-Q · Filed 2025-04-18View SEC filing
Companies in the same industry
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.