Revenue
$12.87B
Fiscal year ended 2026-09-30Operating income
$4.46B
Fiscal year ended 2026-09-30Free cash flow
$2.88B
Fiscal year ended 2026-09-30Valuation, from the filing
| Public float | $565.66B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $133.97 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 51.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 12.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 21.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
51.5× earnings today, against a median of 61.4× across 10 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $565.66B | 51.5× | |
| 2024-06-30 | $287.18B | 33.0× | |
| 2023-06-30 | $192.30B | 35.6× | |
| 2022-06-30 | $76.55B | 17.0× | |
| 2021-06-30 | $229.76B | 44.9× | |
| 2020-06-30 | $196.93B | 71.3× | |
| 2019-06-30 | $156.93B | 84.1× | |
| 2018-06-30 | $148.68B | 122.8× | |
| 2017-06-30 | $54.92B | 98.3× | |
| 2016-06-30 | $38.06B | 203.9× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
NETFLIX INC (NFLX) reported revenue of $12.87B and net income of $3.66B for the fiscal year ended 2026-09-30. 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 | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.87B | $12.56B | $12.25B | $12.05B | $11.51B | $11.08B | $10.54B | $10.25B | $9.82B | $9.56B |
| Cost of revenue | $6.08B | $6.04B | $5.89B | $6.52B | $6.16B | $5.33B | $5.26B | $5.77B | $5.12B | $5.17B |
| Gross profit | $6.80B | $6.52B | $6.36B | $5.53B | $5.35B | $5.75B | $5.28B | $4.48B | $4.70B | $4.39B |
| Operating income | $4.46B | $4.19B | $3.96B | $2.96B | $3.25B | $3.77B | $3.35B | $2.27B | $2.91B | $2.60B |
| Net income | $3.66B | $3.40B | $5.28B | $2.42B | $2.55B | $3.13B | $2.89B | $1.87B | $2.36B | $2.15B |
| Research & development | $1.03B | $1.01B | $959.70M | $890.30M | $853.58M | $824.68M | $822.82M | $776.50M | $735.06M | $711.25M |
| Weighted-average diluted shares | shares 4.20B | shares 4.26B | shares 4.30B | Unavailable | shares 4.34B | shares 4.35B | shares 4.37B | Unavailable | shares 437.90M | shares 439.74M |
| Pretax income | $4.32B | $4.07B | $6.55B | $2.77B | $3.11B | $3.63B | $3.21B | $2.13B | $2.70B | $2.51B |
| Income tax expense | $652.98M | $667.17M | $1.26B | $349.22M | $562.49M | $506.26M | $323.38M | $265.66M | $339.44M | $366.55M |
| Diluted EPS | $0.87 | $0.80 | $1.23 | Unavailable | $0.59 | $0.72 | $0.66 | Unavailable | $5.40 | $4.88 |
| Selling, general & administrative | $1.30B | $1.32B | $1.44B | $1.68B | $1.24B | $1.15B | $1.11B | $1.43B | $1.06B | $1.07B |
| General & administrative | $466.37M | $498.85M | $602.61M | $567.80M | $457.93M | $441.21M | $421.46M | $453.67M | $417.35M | $426.99M |
| Selling & marketing | $837.05M | $823.84M | $842.22M | $1.11B | $786.30M | $713.26M | $688.37M | $976.20M | $642.93M | $644.08M |
Balance
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $8.19B | $9.10B | $12.26B | $9.03B | $9.29B | $8.18B | $7.20B | $7.80B | $7.46B | $6.62B |
| Total assets | $58.68B | $58.45B | $61.02B | $55.60B | $54.93B | $53.10B | $52.09B | $53.63B | $52.28B | $49.10B |
| Current assets | $13.22B | $13.85B | $17.07B | $13.02B | $12.96B | $11.99B | $11.70B | $13.10B | $12.13B | $9.62B |
| Total liabilities | $29.40B | $28.30B | $29.89B | $28.98B | $28.98B | $28.15B | $28.06B | $28.89B | $29.56B | $26.99B |
| Current liabilities | $12.30B | $12.13B | $12.13B | $10.98B | $9.73B | $8.94B | $9.72B | $10.76B | $10.71B | $10.14B |
| Total equity incl. NCI | $29.29B | $30.15B | $31.13B | $26.62B | $25.95B | $24.95B | $24.03B | $24.74B | $22.72B | $22.11B |
| 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 | $12.66B | $11.83B | $13.36B | $13.46B | $14.46B | $14.45B | $14.01B | $13.80B | $14.16B | $12.18B |
| Accounts payable | $860.10M | $814.55M | $894.68M | $900.61M | $793.23M | $632.72M | $614.49M | $899.91M | $641.95M | $598.56M |
Cash flow
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.16B | $1.74B | $5.29B | $2.11B | $2.83B | $2.42B | $2.79B | $1.54B | $2.32B | $1.29B |
| Capital expenditures | $278.77M | $218.64M | $196.13M | $239.34M | $164.72M | $155.89M | $128.28M | $158.67M | $126.86M | $78.29M |
| Investing cash flow | -$331.31M | -$218.64M | -$781.87M | -$256.53M | $43.87M | $768.68M | $485.66M | -$158.67M | -$1.87B | -$78.29M |
| Financing cash flow | -$3.75B | -$4.67B | -$1.23B | -$2.08B | -$1.74B | -$2.50B | -$4.03B | -$678.70M | $226.60M | -$1.49B |
| Net change in cash | -$905.01M | -$3.16B | $3.23B | -$251.67M | $1.11B | $976.54M | -$603.31M | $348.25M | $832.04M | -$399.54M |
| Stock-based compensation | $133.72M | $131.31M | $140.40M | $134.62M | $80.99M | $80.86M | $71.98M | $61.83M | $65.65M | $68.77M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $4.80B | $4.71B | $1.27B | $2.08B | $1.86B | $1.65B | $3.54B | $963.75M | $1.70B | $1.60B |
| Depreciation & amortization | $107.10M | $100.53M | $98.58M | $85.98M | $87.33M | $80.01M | $80.07M | $79.54M | $80.91M | $81.23M |
Derived
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $2.88B | $1.53B | $5.09B | $1.87B | $2.66B | $2.27B | $2.66B | $1.38B | $2.19B | $1.21B |
| Gross margin | 52.8% | 51.9% | 51.9% | 45.9% | 46.4% | 51.9% | 50.1% | 43.7% | 47.9% | 45.9% |
| Operating margin | 34.6% | 33.4% | 32.3% | 24.5% | 28.2% | 34.1% | 31.7% | 22.2% | 29.6% | 27.2% |
| FCF margin | 22.4% | 12.1% | 41.6% | 15.5% | 23.1% | 20.5% | 25.2% | 13.5% | 22.3% | 12.7% |
| SBC / revenue | 1.0% | 1.0% | 1.1% | 1.1% | 0.7% | 0.7% | 0.7% | 0.6% | 0.7% | 0.7% |
| Current ratio | 1.07x | 1.14x | 1.41x | 1.19x | 1.33x | 1.34x | 1.20x | 1.22x | 1.13x | 0.95x |
| Revenue YoY growth | 11.8% | 13.4% | 16.2% | 17.6% | 17.2% | 15.9% | 12.5% | 16.0% | 15.0% | 16.8% |
| Net margin | 28.5% | 27.1% | 43.1% | 20.1% | 22.1% | 28.2% | 27.4% | 18.2% | 24.1% | 22.5% |
| R&D / revenue | 8.0% | 8.0% | 7.8% | 7.4% | 7.4% | 7.4% | 7.8% | 7.6% | 7.5% | 7.4% |
| CapEx / revenue | 2.2% | 1.7% | 1.6% | 2.0% | 1.4% | 1.4% | 1.2% | 1.5% | 1.3% | 0.8% |
| Long-term debt / equity | 0.43x | Unavailable | Unavailable | 0.51x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 15.1% | 16.4% | 19.3% | 12.6% | 18.1% | 13.9% | 10.1% | 12.4% | 12.6% | 14.6% |
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 2026-10-21View SEC filing
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
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.