Netflix Inc
NFLX- Exchange
- Nasdaq
- Industry
- Services-Video Tape Rental
- SEC CIK
- 0001065280
In the last 90 days, Netflix Inc insiders filed 0 open-market purchases and 7 sales; 3,411 institutions reported holding it in 13F filings for Q2 2026, worth $243.6B in total; 10 superinvestors hold it, including Pershing Square and Harris Associates (Oakmark).
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 22, 2026, 1:07 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 20, 2026 | Jan 21, 2025 | Jan 23, 2024 | Jan 19, 2023 | Jan 20, 2022 |
| Revenue | $45.2B | $39.0B | $33.7B | $31.6B | $29.7B |
| Cost of revenue | $23.3B | $21.0B | $19.7B | $19.2B | $17.3B |
| Research and development | $3.39B | $2.93B | $2.68B | $2.71B | – |
| Selling, general and administrative | $1.89B | $1.70B | $1.72B | $1.57B | $1.35B |
| Operating income | $13.3B | $10.4B | $6.95B | $5.63B | $6.19B |
| Interest expense | – | – | $699.8M | $706.2M | $765.6M |
| Income tax | $1.74B | $1.25B | $797.4M | $772.0M | $723.9M |
| Net income | $11.0B | $8.71B | $5.41B | $4.49B | $5.12B |
| EPS, basic | $2.58 | $20.28 | $12.25 | $10.10 | $11.55 |
| EPS, diluted | $2.53 | $19.83 | $12.03 | $9.95 | $11.24 |
| Weighted shares, basic | 4.25B | 429.5M | 441.6M | 444.7M | 443.2M |
| Weighted shares, diluted | 4.34B | 439.3M | 449.5M | 451.3M | 455.4M |
| Margins and growth | |||||
| Operating margin | 29.5% | 26.7% | 20.6% | 17.8% | 20.9% |
| Net margin | 24.3% | 22.3% | 16.0% | 14.2% | 17.2% |
| Revenue growth, year over year | +15.9% | +15.6% | +6.7% | +6.5% | +18.8% |
| Net income growth, year over year | +26.1% | +61.1% | +20.4% | −12.2% | +85.3% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 20, 2026 | Jan 21, 2025 | Jan 23, 2024 | Jan 19, 2023 | Jan 20, 2022 |
| Cash and equivalents | $9.03B | $7.80B | $7.12B | $5.15B | $6.03B |
| Short-term investments | $28.7M | $1.78B | $21.0M | $911.3M | – |
| Total current assets | $13.0B | $13.1B | $9.92B | $9.27B | $8.07B |
| Property, plant and equipment | $2.00B | $1.59B | $1.49B | $1.40B | $1.32B |
| Intangible assets | $32.8B | – | – | – | – |
| Total assets | $55.6B | $53.6B | $48.7B | $48.6B | $44.6B |
| Accounts payable | $900.6M | $899.9M | $747.4M | $671.5M | $837.5M |
| Short-term debt | $998.9M | $1.78B | $399.8M | $0 | $699.8M |
| Total current liabilities | $11.0B | $10.8B | $8.86B | $7.93B | $8.49B |
| Long-term debt | $13.5B | $13.8B | $14.1B | $14.4B | $14.7B |
| Total liabilities | $29.0B | $28.9B | $28.1B | $27.8B | $28.7B |
| Shareholders' equity | $26.6B | $24.7B | $20.6B | $20.8B | $15.8B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 20, 2026 | Jan 21, 2025 | Jan 23, 2024 | Jan 19, 2023 | Jan 20, 2022 |
| Operating cash flow | $10.1B | $7.36B | $7.27B | $2.03B | $392.6M |
| Capital expenditures | $688.2M | $439.5M | $348.6M | $407.7M | $524.6M |
| Free cash flow | $9.46B | $6.92B | $6.93B | $1.62B | -$132.0M |
| Depreciation and amortization | $333.4M | $328.9M | $356.9M | $336.7M | $208.4M |
| Stock-based compensation | $368.4M | $272.6M | $339.4M | $575.5M | $403.2M |
| Share buybacks | $9.13B | $6.26B | $6.05B | $0 | $600.0M |
| Investing cash flow | $1.04B | -$2.18B | $541.8M | -$2.08B | -$1.34B |
| Financing cash flow | -$10.3B | -$4.07B | -$5.95B | -$664.3M | -$1.15B |
| Net change in cash | $1.23B | $688.8M | $1.95B | -$884.5M | -$2.18B |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.8% | 0.7% | 1.0% | 1.8% | 1.4% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Sep 30, 2026 | 4.11B | +869.1% | SEC |
| Jun 30, 2026 | 4.16B | +879.9% | SEC |
| Mar 31, 2026 | 4.21B | +889.7% | SEC |
| Dec 31, 2025 | 4.22B | +887.0% | SEC |
| Sep 30, 2025 | 423.7M | −0.9% | SEC |
| Jun 30, 2025 | 424.9M | −1.0% | SEC |
| Mar 31, 2025 | 425.7M | −1.2% | SEC |
| Dec 31, 2024 | 427.8M | −1.2% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits. Stock splits since Dec 31, 2020, from 13F share counts: 10-for-1 in Q4 2025.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.