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Netflix (NFLX) Financials

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$1,211.57 +26.18 (+2.21%)
Closing price 05/27/2025 04:00 PM Eastern
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$1,210.78 -0.79 (-0.07%)
As of 04:23 AM Eastern
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Annual Income Statements for Netflix

Annual Income Statements for Netflix

This table shows Netflix's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 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 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders
8,712 5,408 4,492 5,116 2,761 1,867 1,211 559 187 123
Consolidated Net Income / (Loss)
8,712 5,408 4,492 5,116 2,761 1,867 1,211 559 187 123
Net Income / (Loss) Continuing Operations
8,712 5,408 4,492 5,116 2,761 1,867 1,211 559 187 123
Total Pre-Tax Income
9,966 6,205 5,264 5,840 3,199 2,062 1,226 485 261 142
Total Operating Income
10,418 6,954 5,633 6,195 4,585 2,604 1,605 839 380 306
Total Gross Profit
17,963 14,008 12,447 12,365 9,720 7,716 5,827 3,660 2,573 2,188
Total Revenue
39,001 33,723 31,616 29,698 24,996 20,156 15,794 11,693 8,831 6,780
Operating Revenue
39,001 33,723 31,616 29,698 24,996 20,156 15,794 11,693 8,831 6,780
Total Cost of Revenue
21,038 19,715 19,168 17,333 15,276 12,440 9,968 8,033 6,257 4,591
Operating Cost of Revenue
21,038 19,715 19,168 17,333 15,276 12,440 9,968 8,033 6,257 4,591
Total Operating Expenses
7,545 7,054 6,814 6,171 5,134 5,112 4,222 2,821 2,193 1,882
Selling, General & Admin Expense
1,702 1,720 1,573 1,352 1,076 914 630 431 316 407
Marketing Expense
2,918 2,658 2,531 2,545 2,228 2,652 2,369 1,436 1,098 824
Research & Development Expense
2,925 2,676 2,711 2,274 1,830 1,545 1,222 954 780 651
Total Other Income / (Expense), net
-452 -749 -369 -354 -1,386 -542 -379 -353 -119 -164
Interest Expense
719 700 706 766 767 626 420 238 150 133
Other Income / (Expense), net
267 -49 337 411 -618 84 42 -115 31 -31
Income Tax Expense
1,254 797 772 724 438 195 15 -74 74 19
Basic Earnings per Share
$20.28 $12.25 $10.10 $11.55 $6.26 $4.26 $2.78 $1.29 $0.44 $0.29
Weighted Average Basic Shares Outstanding
429.52M 441.57M 444.70M 443.16M 440.92M 437.80M 435.37M 431.89M 428.82M 425.89M
Diluted Earnings per Share
$19.83 $12.03 $9.95 $11.24 $6.08 $4.13 $2.68 $1.25 $0.43 $0.28
Weighted Average Diluted Shares Outstanding
439.26M 449.50M 451.29M 455.37M 454.21M 451.77M 451.24M 446.81M 438.65M 436.46M
Weighted Average Basic & Diluted Shares Outstanding
427.76M 432.76M 445.35M 443.96M 442.90M 438.81M 435.70M 433.30M -6.22B 422.90M

Quarterly Income Statements for Netflix

This table shows Netflix's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
2,890 1,869 2,364 2,147 2,332 938 1,677 1,488 1,305 55 1,398
Consolidated Net Income / (Loss)
2,890 1,869 2,364 2,147 2,332 938 1,677 1,488 1,305 55 1,398
Net Income / (Loss) Continuing Operations
2,890 1,869 2,364 2,147 2,332 938 1,677 1,488 1,305 55 1,398
Total Pre-Tax Income
3,214 2,134 2,703 2,514 2,615 1,148 1,909 1,679 1,469 39 1,622
Total Operating Income
3,347 2,273 2,909 2,603 2,633 1,496 1,916 1,827 1,714 550 1,533
Total Gross Profit
5,280 4,479 4,705 4,385 4,393 3,525 3,611 3,514 3,358 2,448 3,137
Total Revenue
10,543 10,247 9,825 9,559 9,370 8,833 8,542 8,187 8,162 7,852 7,926
Operating Revenue
10,543 10,247 9,825 9,559 9,370 8,833 8,542 8,187 8,162 7,852 7,926
Total Cost of Revenue
5,263 5,767 5,120 5,174 4,977 5,307 4,931 4,673 4,804 5,404 4,789
Operating Cost of Revenue
5,263 5,767 5,120 5,174 4,977 5,307 4,931 4,673 4,804 5,404 4,789
Total Operating Expenses
1,933 2,206 1,795 1,782 1,761 2,029 1,694 1,687 1,644 1,898 1,604
Selling, General & Admin Expense
421 454 417 427 404 439 479 401 401 392 373
Marketing Expense
688 976 643 644 654 917 559 627 555 832 568
Research & Development Expense
823 777 735 711 702 673 657 658 687 674 663
Total Other Income / (Expense), net
-133 -138 -207 -89 -18 -348 -7.35 -148 -245 -511 89
Interest Expense
184 193 185 168 173 175 176 175 174 171 173
Other Income / (Expense), net
51 54 -22 79 155 -173 168 27 -71 -340 261
Income Tax Expense
323 266 339 367 282 210 232 192 164 -16 224
Basic Earnings per Share
$6.76 $4.37 $5.52 $4.99 $5.40 $2.17 $3.80 $3.35 $2.93 $0.12 $3.14
Weighted Average Basic Shares Outstanding
427.27M 429.52M 428.24M 430.07M 432.09M 441.57M 441.54M 443.88M 445.24M 444.70M 444.88M
Diluted Earnings per Share
$6.61 $4.27 $5.40 $4.88 $5.28 $2.13 $3.73 $3.29 $2.88 $0.12 $3.10
Weighted Average Diluted Shares Outstanding
436.96M 439.26M 437.90M 439.74M 441.65M 449.50M 450.01M 451.57M 452.42M 451.29M 450.34M
Weighted Average Basic & Diluted Shares Outstanding
425.68M 427.76M 427.46M 429.16M 430.96M 432.76M 437.68M 443.15M 444.54M 445.35M 445.02M

Annual Cash Flow Statements for Netflix

This table details how cash moves in and out of Netflix's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 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 12/31/2015
Net Change in Cash & Equivalents
689 1,948 -885 -2,184 3,195 1,231 1,029 1,355 -342 696
Net Cash From Operating Activities
7,361 7,274 2,026 393 2,427 -2,887 -2,680 -1,786 -1,474 -749
Net Cash From Continuing Operating Activities
7,361 7,274 2,026 393 2,427 -2,887 -2,680 -1,786 -1,474 -749
Net Income / (Loss) Continuing Operations
8,712 5,408 4,492 5,116 2,761 1,867 1,211 559 187 123
Consolidated Net Income / (Loss)
8,712 5,408 4,492 5,116 2,761 1,867 1,211 559 187 123
Depreciation Expense
329 357 337 208 116 104 83 72 58 62
Amortization Expense
15,302 14,197 14,026 12,230 10,807 9,216 7,532 6,198 4,867 3,485
Non-Cash Adjustments To Reconcile Net Income
-15,578 -11,527 -16,083 -17,353 -10,538 -13,329 -12,715 -9,574 -8,504 -5,696
Changes in Operating Assets and Liabilities, net
-1,403 -1,161 -745 190 -719 -745 1,208 959 1,918 1,277
Net Cash From Investing Activities
-2,182 542 -2,076 -1,340 -505 -387 -339 34 50 -179
Net Cash From Continuing Investing Activities
-2,182 542 -2,076 -1,340 -505 -387 -339 34 50 -179
Purchase of Property, Plant & Equipment
-440 -349 -408 -525 -498 -253 -174 -173 -108 -91
Acquisitions
0.00 0.00 -757 -788 0.00 0.00 - - -77 -78
Purchase of Investments
-1,742 -505 -911 0.00 0.00 - - -75 -187 -372
Sale and/or Maturity of Investments
0.00 1,395 0.00 0.00 - - - 343 423 364
Net Cash From Financing Activities
-4,074 -5,951 -664 -1,150 1,237 4,506 4,049 3,077 1,092 1,640
Net Cash From Continuing Financing Activities
-4,074 -5,951 -664 -1,150 1,237 4,506 4,049 3,077 1,092 1,640
Repayment of Debt
-430 -75 -700 -500 -7.56 -36 -38 -32 -10 -18
Repurchase of Common Equity
-6,264 -6,045 0.00 -600 0.00 0.00 - - - -
Issuance of Debt
1,794 0.00 0.00 - 1,009 4,469 3,962 3,021 1,000 1,500
Other Financing Activities, net
825 170 36 -50 235 - - - 65 80
Effect of Exchange Rate Changes
-416 - - -87 - - - - -9.17 -16
Cash Interest Paid
675 685 702 763 763 599 376 213 139 112
Cash Income Taxes Paid
1,642 1,155 812 509 292 401 131 114 27 28

Quarterly Cash Flow Statements for Netflix

This table details how cash moves in and out of Netflix's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
-603 348 832 -400 -92 -238 -309 928 1,567 -970 296
Net Cash From Operating Activities
2,789 1,537 2,321 1,291 2,213 1,663 1,992 1,440 2,179 444 557
Net Cash From Continuing Operating Activities
2,789 1,537 2,321 1,291 2,213 1,663 1,992 1,440 2,179 444 557
Net Income / (Loss) Continuing Operations
2,890 1,869 2,364 2,147 2,332 938 1,677 1,488 1,305 55 1,398
Consolidated Net Income / (Loss)
2,890 1,869 2,364 2,147 2,332 938 1,677 1,488 1,305 55 1,398
Depreciation Expense
80 80 81 81 87 87 91 89 90 93 85
Amortization Expense
3,823 4,162 3,700 3,770 3,671 3,754 3,573 3,410 3,460 3,945 3,654
Non-Cash Adjustments To Reconcile Net Income
-3,334 -4,290 -3,718 -3,884 -3,686 -3,052 -2,861 -3,455 -2,159 -3,246 -4,677
Changes in Operating Assets and Liabilities, net
-670 -283 -105 -823 -191 -63 -488 -92 -518 -404 96
Net Cash From Investing Activities
486 -159 -1,869 -78 -76 412 296 98 -264 -1,587 -85
Net Cash From Continuing Investing Activities
486 -159 -1,869 -78 -76 412 296 98 -264 -1,587 -85
Purchase of Property, Plant & Equipment
-128 -159 -127 -78 -76 -82 -104 -101 -62 -112 -85
Purchase of Investments
-156 - -1,742 - 0.00 - - -303 -202 -911 -
Sale and/or Maturity of Investments
770 - - - - 493 400 - - - -
Net Cash From Financing Activities
-4,028 -679 227 -1,489 -2,133 -2,452 -2,475 -649 -374 6.71 4.11
Net Cash From Continuing Financing Activities
-4,028 -679 227 -1,489 -2,133 -2,452 -2,475 -649 -374 6.71 4.11
Repayment of Debt
-816 -14 -9.08 -6.25 -400 -3.70 -33 -39 0.00 - -
Repurchase of Common Equity
-3,536 -964 -1,700 -1,600 -2,000 -2,500 -2,500 -645 -400 - -
Other Financing Activities, net
324 299 141 117 267 51 58 35 26 6.71 4.11
Other Net Changes in Cash
150 - 153 -123 -96 139 -123 40 26 - -

Annual Balance Sheets for Netflix

This table presents Netflix's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 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 12/31/2015
Total Assets
53,630 48,732 48,595 44,585 39,280 33,976 25,974 19,013 13,587 10,203
Total Current Assets
13,100 9,918 9,266 8,070 9,762 6,179 9,694 7,670 5,720 5,432
Cash & Equivalents
7,805 7,117 5,147 6,028 8,206 5,018 3,794 2,823 1,468 1,809
Short-Term Investments
1,779 21 911 0.00 - - - - 266 501
Other Current Assets
3,517 2,780 3,208 2,042 1,556 1,160 5,900 4,847 3,987 3,121
Plant, Property, & Equipment, net
1,594 1,491 1,398 1,323 960 565 418 319 250 173
Total Noncurrent Assets
38,936 37,322 37,930 35,191 28,559 27,232 15,862 11,023 7,616 4,598
Other Noncurrent Operating Assets
38,936 37,322 37,930 35,191 28,559 27,232 15,862 11,023 7,616 4,598
Total Liabilities & Shareholders' Equity
53,630 48,732 48,595 44,585 39,280 33,976 25,974 19,013 13,587 10,203
Total Liabilities
28,887 28,144 27,817 28,735 28,215 26,394 20,736 15,431 10,907 7,979
Total Current Liabilities
10,755 8,861 7,931 8,489 7,806 6,856 6,487 5,466 4,587 3,530
Short-Term Debt
1,784 400 0.00 700 500 0.00 - - - -
Accounts Payable
900 747 672 837 656 674 563 360 313 253
Accrued Expenses
2,157 1,804 1,515 1,449 1,102 843 482 315 198 140
Current Deferred Revenue
1,521 1,443 1,265 1,209 1,118 925 761 619 443 347
Other Current Liabilities
4,394 4,466 4,480 4,293 4,430 4,414 4,682 4,173 3,633 2,789
Total Noncurrent Liabilities
18,131 19,283 19,886 20,246 20,409 19,538 14,248 9,964 6,320 4,450
Long-Term Debt
13,798 14,143 14,353 14,693 15,809 14,759 10,360 6,499 3,364 2,371
Other Noncurrent Operating Liabilities
4,333 5,140 5,533 5,553 4,600 4,779 3,888 3,465 2,956 2,078
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
24,744 20,588 20,777 15,849 11,065 7,582 5,239 3,582 2,680 2,223
Total Preferred & Common Equity
24,744 20,588 20,777 15,849 11,065 7,582 5,239 3,582 2,680 2,223
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
24,744 20,588 20,777 15,849 11,065 7,582 5,239 3,582 2,680 2,223
Common Stock
6,252 5,145 4,638 4,025 3,448 2,794 2,316 1,871 1,600 1,325
Retained Earnings
31,301 22,589 17,181 12,689 7,573 4,812 2,942 1,731 1,129 942
Treasury Stock
-13,172 -6,922 -824 -824 0.00 - - - - -
Accumulated Other Comprehensive Income / (Loss)
362 -224 -217 -40 44 -24 -20 -21 -49 -43

Quarterly Balance Sheets for Netflix

This table presents Netflix's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets
52,088 53,630 52,282 49,099 48,828 48,732 49,502 50,817 49,490 48,595 47,562
Total Current Assets
11,698 13,100 12,129 9,616 9,921 9,918 10,779 11,506 10,483 9,266 8,817
Cash & Equivalents
7,200 7,805 7,457 6,625 7,025 7,117 7,353 7,663 6,715 5,147 6,114
Short-Term Investments
1,171 1,779 1,767 31 21 21 514 914 1,113 911 -
Other Current Assets
3,327 3,517 2,905 2,960 2,876 2,780 2,912 2,929 2,655 3,208 2,703
Plant, Property, & Equipment, net
1,644 1,594 1,568 1,511 1,501 1,491 1,498 1,472 1,413 1,398 1,373
Total Noncurrent Assets
38,746 38,936 38,585 37,972 37,405 37,322 37,224 37,839 37,595 37,930 37,373
Other Noncurrent Operating Assets
38,746 38,936 38,585 37,972 37,405 37,322 37,224 37,839 37,595 37,930 37,373
Total Liabilities & Shareholders' Equity
52,088 53,630 52,282 49,099 48,828 48,732 49,502 50,817 49,490 48,595 47,562
Total Liabilities
28,060 28,887 29,561 26,986 27,462 28,144 27,394 27,985 27,662 27,817 27,034
Total Current Liabilities
9,719 10,755 10,707 10,140 9,289 8,861 8,339 8,676 8,316 7,931 7,766
Short-Term Debt
1,006 1,784 1,820 1,800 799 400 400 399 399 0.00 0.00
Accounts Payable
614 900 642 599 607 747 534 615 592 672 560
Accrued Expenses
2,360 2,157 2,242 1,876 1,977 1,804 1,839 1,909 1,718 1,515 1,804
Current Deferred Revenue
1,610 1,521 1,513 1,474 1,469 1,443 1,306 1,312 1,262 1,265 1,176
Other Current Liabilities
4,129 4,394 4,490 4,391 4,436 4,466 4,260 4,440 4,345 4,480 4,226
Total Noncurrent Liabilities
18,341 18,131 18,854 16,846 18,173 19,283 19,055 19,309 19,346 19,886 19,268
Long-Term Debt
14,011 13,798 14,161 12,180 13,217 14,143 13,901 14,070 14,038 14,353 13,888
Other Noncurrent Operating Liabilities
4,330 4,333 4,693 4,666 4,956 5,140 5,155 5,239 5,308 5,533 5,380
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
24,028 24,744 22,721 22,113 21,365 20,588 22,108 22,832 21,828 20,777 20,528
Total Preferred & Common Equity
24,028 24,744 22,721 22,113 21,365 20,588 22,108 22,832 21,828 20,777 20,528
Total Common Equity
24,028 24,744 22,721 22,113 21,365 20,588 22,108 22,832 21,828 20,777 20,528
Common Stock
6,677 6,252 5,888 5,680 5,490 5,145 5,011 4,874 4,762 4,638 4,474
Retained Earnings
34,191 31,301 29,432 27,069 24,921 22,589 21,651 19,974 18,486 17,181 17,126
Treasury Stock
-16,755 -13,172 -12,255 -10,547 -8,934 -6,922 -4,400 -1,877 -1,229 -824 -824
Accumulated Other Comprehensive Income / (Loss)
-86 362 -345 -89 -112 -224 -156 -139 -192 -217 -248

Annual Metrics And Ratios for Netflix

This table displays calculated financial ratios and metrics derived from Netflix's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 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 12/31/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
15.65% 6.67% 6.46% 18.81% 24.01% 27.62% 35.08% 32.41% 30.26% 23.16%
EBITDA Growth
22.62% 5.54% 6.77% 27.91% 24.00% 29.65% 32.44% 31.07% 39.62% 20.13%
EBIT Growth
54.73% 15.66% -9.62% 66.52% 47.56% 63.23% 127.63% 76.20% 49.53% -31.28%
NOPAT Growth
50.27% 26.08% -11.42% 37.12% 67.87% 48.72% 64.13% 254.90% 2.95% -14.03%
Net Income Growth
61.09% 20.39% -12.20% 85.28% 47.91% 54.13% 116.71% 199.41% 52.22% -54.03%
EPS Growth
64.84% 20.90% -11.48% 84.87% 47.22% 54.10% 114.40% 190.70% 53.57% -54.84%
Operating Cash Flow Growth
1.20% 259.00% 416.10% -83.82% 184.06% -7.72% -50.09% -21.16% -96.68% -4,646.74%
Free Cash Flow Firm Growth
-10.94% 652.21% 253.33% -129.31% 166.81% -6.78% -49.34% -13.01% -98.28% -355.03%
Invested Capital Growth
9.82% -3.71% 15.30% 31.54% 10.65% 46.75% 62.63% 68.40% 88.71% 101.23%
Revenue Q/Q Growth
3.76% 3.00% 0.45% 3.72% 4.94% 6.78% 6.05% 7.43% 8.00% 5.26%
EBITDA Q/Q Growth
5.64% 4.46% -1.44% 4.54% 5.55% 5.65% 4.53% 5.96% 9.11% 6.36%
EBIT Q/Q Growth
10.37% 19.22% -8.16% 0.56% 10.49% 3.03% 2.59% 11.18% 23.34% -0.98%
NOPAT Q/Q Growth
9.01% 13.61% -3.69% -4.45% -1.98% 43.50% -4.90% 30.45% 11.51% -12.99%
Net Income Q/Q Growth
11.96% 19.50% -10.95% 1.29% -1.60% 32.04% -4.08% 26.98% 14.45% -24.68%
EPS Q/Q Growth
12.10% 20.06% -10.84% 1.35% -1.94% 31.95% -3.94% 22.55% 13.16% -26.32%
Operating Cash Flow Q/Q Growth
-1.68% 20.13% 71.84% -40.35% 120.09% -8.53% -38.64% 3.73% -26.90% -37.98%
Free Cash Flow Firm Q/Q Growth
-14.27% 40.07% 3,220.60% -260.13% 134.18% -7.86% -38.21% 8.63% -29.17% -27.14%
Invested Capital Q/Q Growth
4.29% -1.92% 2.72% 8.30% 6.56% 16.64% 14.84% 12.19% 21.09% 16.67%
Profitability Metrics
- - - - - - - - - -
Gross Margin
46.06% 41.54% 39.37% 41.64% 38.89% 38.28% 36.89% 31.30% 29.14% 32.27%
EBITDA Margin
67.47% 63.63% 64.31% 64.13% 59.57% 59.57% 58.64% 59.81% 60.42% 56.37%
Operating Margin
26.71% 20.62% 17.82% 20.86% 18.34% 12.92% 10.16% 7.17% 4.30% 4.51%
EBIT Margin
27.40% 20.48% 18.88% 22.24% 15.87% 13.34% 10.43% 6.19% 4.65% 4.05%
Profit (Net Income) Margin
22.34% 16.04% 14.21% 17.23% 11.05% 9.26% 7.67% 4.78% 2.11% 1.81%
Tax Burden Percent
87.42% 87.15% 85.33% 87.61% 86.31% 90.53% 98.76% 115.17% 71.66% 86.44%
Interest Burden Percent
93.27% 89.87% 88.17% 88.41% 80.65% 76.71% 74.47% 67.08% 63.44% 51.67%
Effective Tax Rate
12.58% 12.85% 14.67% 12.39% 13.69% 9.47% 1.24% -15.17% 28.34% 13.56%
Return on Invested Capital (ROIC)
31.01% 21.24% 17.71% 24.45% 21.69% 16.19% 16.63% 16.70% 8.25% 15.46%
ROIC Less NNEP Spread (ROIC-NNEP)
25.11% 12.93% 14.14% 20.90% 8.28% 10.17% 9.33% 1.36% -1.85% 58.27%
Return on Net Nonoperating Assets (RNNOA)
7.43% 4.91% 6.82% 13.56% 7.93% 12.93% 10.83% 1.15% -0.64% -9.45%
Return on Equity (ROE)
38.43% 26.15% 24.53% 38.02% 29.62% 29.12% 27.46% 17.85% 7.61% 6.01%
Cash Return on Invested Capital (CROIC)
21.65% 25.02% 3.50% -2.79% 11.57% -21.71% -31.06% -34.27% -53.20% -51.75%
Operating Return on Assets (OROA)
20.88% 14.19% 12.81% 15.75% 10.83% 8.97% 7.32% 4.44% 3.45% 3.18%
Return on Assets (ROA)
17.02% 11.11% 9.64% 12.20% 7.54% 6.23% 5.38% 3.43% 1.57% 1.42%
Return on Common Equity (ROCE)
38.43% 26.15% 24.53% 38.02% 29.62% 29.12% 27.46% 17.85% 7.61% 6.01%
Return on Equity Simple (ROE_SIMPLE)
35.21% 26.27% 21.62% 32.28% 24.96% 24.62% 23.12% 15.60% 6.97% 5.52%
Net Operating Profit after Tax (NOPAT)
9,107 6,060 4,807 5,427 3,958 2,358 1,585 966 272 264
NOPAT Margin
23.35% 17.97% 15.20% 18.27% 15.83% 11.70% 10.04% 8.26% 3.08% 3.90%
Net Nonoperating Expense Percent (NNEP)
5.89% 8.31% 3.57% 3.55% 13.41% 6.02% 7.30% 15.34% 10.11% -42.81%
Return On Investment Capital (ROIC_SIMPLE)
22.58% 17.25% 13.68% - - - - - - -
Cost of Revenue to Revenue
53.94% 58.46% 60.63% 58.36% 61.11% 61.72% 63.11% 68.70% 70.86% 67.73%
SG&A Expenses to Revenue
4.36% 5.10% 4.98% 4.55% 4.31% 4.54% 3.99% 3.69% 3.57% 6.01%
R&D to Revenue
7.50% 7.93% 8.58% 7.66% 7.32% 7.67% 7.74% 8.16% 8.84% 9.60%
Operating Expenses to Revenue
19.35% 20.92% 21.55% 20.78% 20.54% 25.36% 26.73% 24.13% 24.84% 27.76%
Earnings before Interest and Taxes (EBIT)
10,684 6,905 5,970 6,606 3,967 2,688 1,647 724 411 275
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
26,315 21,460 20,333 19,045 14,889 12,008 9,262 6,993 5,336 3,822
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
15.40 10.35 6.32 16.84 21.59 18.70 22.28 23.19 19.83 21.99
Price to Tangible Book Value (P/TBV)
15.40 10.35 6.32 16.84 21.59 18.70 22.28 23.19 19.83 21.99
Price to Revenue (P/Rev)
9.77 6.32 4.15 8.99 9.56 7.04 7.39 7.10 6.02 7.21
Price to Earnings (P/E)
43.73 39.40 29.21 52.16 86.51 75.96 96.37 148.62 284.60 398.60
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
2.29% 2.54% 3.42% 1.92% 1.16% 1.32% 1.04% 0.67% 0.35% 0.25%
Enterprise Value to Invested Capital (EV/IC)
12.59 7.88 4.80 10.95 12.89 8.75 10.44 11.95 12.70 21.43
Enterprise Value to Revenue (EV/Rev)
9.92 6.54 4.41 9.30 9.88 7.52 7.81 7.42 6.20 7.22
Enterprise Value to EBITDA (EV/EBITDA)
14.71 10.28 6.86 14.50 16.59 12.62 13.31 12.40 10.26 12.81
Enterprise Value to EBIT (EV/EBIT)
36.22 31.93 23.37 41.81 62.26 56.37 74.86 119.89 133.36 178.24
Enterprise Value to NOPAT (EV/NOPAT)
42.50 36.38 29.03 50.90 62.41 64.28 77.77 89.81 201.20 185.16
Enterprise Value to Operating Cash Flow (EV/OCF)
52.57 30.31 68.86 703.54 101.77 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
60.87 30.89 147.01 0.00 116.95 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.63 0.71 0.69 0.97 1.47 1.95 1.98 1.81 1.26 1.07
Long-Term Debt to Equity
0.56 0.69 0.69 0.93 1.43 1.95 1.98 1.81 1.26 1.07
Financial Leverage
0.30 0.38 0.48 0.65 0.96 1.27 1.16 0.85 0.34 -0.16
Leverage Ratio
2.26 2.35 2.54 3.12 3.93 4.68 5.10 5.21 4.85 4.23
Compound Leverage Factor
2.11 2.11 2.24 2.75 3.17 3.59 3.80 3.49 3.08 2.18
Debt to Total Capital
38.64% 41.40% 40.86% 49.27% 59.58% 66.06% 66.42% 64.47% 55.66% 51.61%
Short-Term Debt to Total Capital
4.43% 1.14% 0.00% 2.24% 1.83% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
34.22% 40.26% 40.86% 47.03% 57.75% 66.06% 66.42% 64.47% 55.66% 51.61%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
61.36% 58.60% 59.14% 50.73% 40.42% 33.94% 33.58% 35.53% 44.34% 48.39%
Debt to EBITDA
0.59 0.68 0.71 0.81 1.10 1.23 1.12 0.93 0.63 0.62
Net Debt to EBITDA
0.23 0.35 0.41 0.49 0.54 0.81 0.71 0.53 0.31 0.02
Long-Term Debt to EBITDA
0.52 0.66 0.71 0.77 1.06 1.23 1.12 0.93 0.63 0.62
Debt to NOPAT
1.71 2.40 2.99 2.84 4.12 6.26 6.54 6.73 12.36 8.97
Net Debt to NOPAT
0.66 1.22 1.73 1.73 2.05 4.13 4.14 3.81 5.99 0.23
Long-Term Debt to NOPAT
1.52 2.33 2.99 2.71 3.99 6.26 6.54 6.73 12.36 8.97
Altman Z-Score
10.17 6.38 4.41 7.11 6.38 4.25 4.50 4.24 3.89 4.78
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.22 1.12 1.17 0.95 1.25 0.90 1.49 1.40 1.25 1.54
Quick Ratio
0.89 0.81 0.76 0.71 1.05 0.73 0.58 0.52 0.38 0.65
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
6,358 7,139 949 -619 2,112 -3,161 -2,960 -1,982 -1,754 -885
Operating Cash Flow to CapEx
1,674.80% 2,087.01% 496.96% 74.84% 487.44% -1,141.08% -1,540.98% -1,030.54% -1,369.20% -821.32%
Free Cash Flow to Firm to Interest Expense
8.85 10.20 1.34 -0.81 2.75 -5.05 -7.04 -8.32 -11.69 -6.67
Operating Cash Flow to Interest Expense
10.24 10.39 2.87 0.51 3.16 -4.61 -6.37 -7.50 -9.82 -5.65
Operating Cash Flow Less CapEx to Interest Expense
9.63 9.90 2.29 -0.17 2.51 -5.02 -6.79 -8.23 -10.54 -6.33
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.76 0.69 0.68 0.71 0.68 0.67 0.70 0.72 0.74 0.79
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
25.28 23.34 23.23 26.01 32.77 40.99 42.82 41.04 41.67 41.94
Accounts Payable Turnover
25.54 27.79 25.41 23.21 22.96 20.11 21.61 23.89 22.10 20.18
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
14.29 13.13 14.37 15.73 15.90 18.15 16.89 15.28 16.52 18.09
Cash Conversion Cycle (CCC)
-14.29 -13.13 -14.37 -15.73 -15.90 -18.15 -16.89 -15.28 -16.52 -18.09
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
30,743 27,994 29,072 25,214 19,169 17,323 11,804 7,259 4,310 2,284
Invested Capital Turnover
1.33 1.18 1.16 1.34 1.37 1.38 1.66 2.02 2.68 3.97
Increase / (Decrease) in Invested Capital
2,749 -1,078 3,858 6,046 1,846 5,519 4,546 2,948 2,026 1,149
Enterprise Value (EV)
387,001 220,503 139,522 276,217 246,995 151,546 123,288 86,744 54,759 48,945
Market Capitalization
381,002 213,097 131,228 266,852 238,892 141,805 116,723 83,067 53,128 48,885
Book Value per Share
$57.89 $47.04 $46.69 $35.78 $25.05 $17.30 $12.01 $8.28 $6.24 $5.20
Tangible Book Value per Share
$57.89 $47.04 $46.69 $35.78 $25.05 $17.30 $12.01 $8.28 $6.24 $5.20
Total Capital
40,326 35,132 35,130 31,242 27,374 22,341 15,599 10,081 6,044 4,595
Total Debt
15,583 14,543 14,353 15,393 16,309 14,759 10,360 6,499 3,364 2,371
Total Long-Term Debt
13,798 14,143 14,353 14,693 15,809 14,759 10,360 6,499 3,364 2,371
Net Debt
5,999 7,405 8,295 9,365 8,103 9,741 6,566 3,677 1,631 61
Capital Expenditures (CapEx)
440 349 408 525 498 253 174 173 108 91
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-5,454 -5,681 -4,723 -5,747 -5,750 -5,696 -588 -619 -600 -408
Debt-free Net Working Capital (DFNWC)
4,129 1,457 1,335 281 2,456 -677 3,207 2,204 1,134 1,902
Net Working Capital (NWC)
2,345 1,057 1,335 -419 1,956 -677 3,207 2,204 1,134 1,902
Net Nonoperating Expense (NNE)
395 652 315 310 1,196 491 374 407 85 142
Net Nonoperating Obligations (NNO)
5,999 7,405 8,295 9,365 8,103 9,741 6,566 3,677 1,631 61
Total Depreciation and Amortization (D&A)
15,630 14,554 14,363 12,439 10,923 9,320 7,615 6,270 4,925 3,547
Debt-free, Cash-free Net Working Capital to Revenue
-13.99% -16.84% -14.94% -19.35% -23.00% -28.26% -3.72% -5.30% -6.80% -6.03%
Debt-free Net Working Capital to Revenue
10.59% 4.32% 4.22% 0.95% 9.82% -3.36% 20.30% 18.85% 12.84% 28.06%
Net Working Capital to Revenue
6.01% 3.14% 4.22% -1.41% 7.82% -3.36% 20.30% 18.85% 12.84% 28.06%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$20.28 $12.25 $10.10 $11.55 $6.26 $4.26 $0.00 $0.00 $0.44 $0.29
Adjusted Weighted Average Basic Shares Outstanding
429.52M 441.57M 444.70M 443.16M 440.92M 437.80M 0.00 0.00 428.82M 425.89M
Adjusted Diluted Earnings per Share
$19.83 $12.03 $9.95 $11.24 $6.08 $4.13 $0.00 $0.00 $0.43 $0.28
Adjusted Weighted Average Diluted Shares Outstanding
439.26M 449.50M 451.29M 455.37M 454.21M 451.77M 0.00 0.00 438.65M 436.46M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
427.76M 432.76M 445.35M 443.96M 442.90M 438.81M 0.00 0.00 430.41M 428.08M
Normalized Net Operating Profit after Tax (NOPAT)
9,107 6,060 4,807 5,427 3,958 2,358 1,585 587 272 264
Normalized NOPAT Margin
23.35% 17.97% 15.20% 18.27% 15.83% 11.70% 10.04% 5.02% 3.08% 3.90%
Pre Tax Income Margin
25.55% 18.40% 16.65% 19.67% 12.80% 10.23% 7.77% 4.15% 2.95% 2.09%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
14.87 9.87 8.45 8.63 5.17 4.29 3.92 3.04 2.74 2.07
NOPAT to Interest Expense
12.67 8.66 6.81 7.09 5.16 3.77 3.77 4.05 1.81 1.99
EBIT Less CapEx to Interest Expense
14.25 9.37 7.88 7.94 4.52 3.89 3.50 2.31 2.02 1.38
NOPAT Less CapEx to Interest Expense
12.06 8.16 6.23 6.40 4.51 3.36 3.36 3.33 1.10 1.30
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
71.90% 111.79% 0.00% 11.73% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Netflix

This table displays calculated financial ratios and metrics derived from Netflix's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
12.51% 16.00% 15.02% 16.76% 14.81% 12.49% 7.77% 2.72% 3.73% 1.85% 5.91%
EBITDA Growth
11.54% 27.19% 16.00% 22.03% 26.04% 21.56% 3.89% 4.09% -3.97% -6.54% 13.28%
EBIT Growth
21.88% 75.83% 38.53% 44.64% 69.67% 530.36% 16.17% 3.09% -24.19% -71.64% -3.08%
NOPAT Growth
28.19% 62.83% 51.09% 37.36% 54.16% 58.12% 27.41% 15.51% -4.26% 10.94% -13.69%
Net Income Growth
23.93% 99.25% 40.90% 44.35% 78.70% 1,596.40% 19.97% 3.24% -18.30% -90.90% -3.51%
EPS Growth
25.19% 100.47% 44.77% 48.33% 83.33% 1,675.00% 20.32% 2.81% -18.41% -90.98% -2.82%
Operating Cash Flow Growth
26.06% -7.58% 16.50% -10.37% 1.55% 274.67% 257.81% 1,301.69% 136.09% 210.06% 575.91%
Free Cash Flow Firm Growth
-72.58% -133.00% 11.11% 293.91% 390.00% 174.57% 139.08% 108.77% 80.97% 42.33% 1.65%
Invested Capital Growth
8.25% 9.82% 3.29% 2.48% -0.36% -3.71% 0.84% 4.49% 9.08% 15.30% 21.57%
Revenue Q/Q Growth
2.89% 4.29% 2.78% 2.02% 6.09% 3.41% 4.33% 0.32% 3.94% -0.93% -0.56%
EBITDA Q/Q Growth
11.16% -1.50% 2.07% -0.20% 26.76% -10.17% 7.38% 3.08% 22.25% -23.22% 7.58%
EBIT Q/Q Growth
46.03% -19.42% 7.68% -3.80% 110.67% -36.52% 12.43% 12.84% 682.66% -88.30% -0.23%
NOPAT Q/Q Growth
51.28% -21.79% 14.43% -5.32% 92.15% -27.43% 4.03% 6.26% 97.09% -41.52% -5.68%
Net Income Q/Q Growth
54.68% -20.94% 10.07% -7.93% 148.68% -44.09% 12.76% 13.98% 2,260.76% -96.05% -2.96%
EPS Q/Q Growth
54.80% -20.93% 10.66% -7.58% 147.89% -42.90% 13.37% 14.24% 2,300.00% -96.13% -3.13%
Operating Cash Flow Q/Q Growth
81.48% -33.79% 79.81% -41.66% 33.04% -16.53% 38.33% -33.90% 390.86% -20.29% 441.91%
Free Cash Flow Firm Q/Q Growth
188.51% -147.25% 6.30% -38.33% 6.52% 59.10% 276.87% 145.40% 72.61% 16.62% 15.46%
Invested Capital Q/Q Growth
-0.22% 4.29% 0.14% 3.89% 1.22% -1.92% -0.64% 1.01% -2.18% 2.72% 2.96%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
50.08% 43.71% 47.89% 45.87% 46.89% 39.91% 42.27% 42.92% 41.14% 31.18% 39.58%
EBITDA Margin
69.25% 64.10% 67.87% 68.34% 69.86% 58.46% 67.30% 65.39% 63.63% 54.10% 69.81%
Operating Margin
31.75% 22.18% 29.61% 27.23% 28.09% 16.94% 22.44% 22.32% 21.00% 7.00% 19.34%
EBIT Margin
32.23% 22.71% 29.39% 28.05% 29.75% 14.98% 24.41% 22.65% 20.13% 2.67% 22.64%
Profit (Net Income) Margin
27.42% 18.24% 24.06% 22.46% 24.89% 10.62% 19.64% 18.17% 15.99% 0.70% 17.64%
Tax Burden Percent
89.94% 87.55% 87.44% 85.42% 89.20% 81.68% 87.87% 88.58% 88.85% 140.54% 86.21%
Interest Burden Percent
94.58% 91.72% 93.60% 93.74% 93.78% 86.76% 91.58% 90.57% 89.40% 18.74% 90.38%
Effective Tax Rate
10.06% 12.45% 12.56% 14.58% 10.80% 18.32% 12.13% 11.42% 11.15% -40.54% 13.79%
Return on Invested Capital (ROIC)
38.88% 25.79% 33.55% 29.04% 30.84% 16.35% 22.71% 22.60% 21.85% 11.46% 20.35%
ROIC Less NNEP Spread (ROIC-NNEP)
37.12% 23.98% 30.81% 27.89% 30.60% 12.73% 22.62% 20.77% 18.97% 3.34% 21.32%
Return on Net Nonoperating Assets (RNNOA)
11.13% 7.09% 9.07% 8.20% 9.62% 4.83% 7.54% 7.09% 7.29% 1.61% 9.36%
Return on Equity (ROE)
50.01% 32.88% 42.62% 37.24% 40.46% 21.18% 30.25% 29.69% 29.14% 13.07% 29.71%
Cash Return on Invested Capital (CROIC)
25.18% 21.65% 25.57% 23.33% 24.64% 25.02% 17.93% 13.27% 8.74% 3.50% -0.12%
Operating Return on Assets (OROA)
25.66% 17.30% 21.71% 20.39% 21.14% 10.38% 16.47% 14.98% 13.55% 1.81% 15.78%
Return on Assets (ROA)
21.83% 13.90% 17.77% 16.32% 17.69% 7.36% 13.25% 12.01% 10.76% 0.48% 12.30%
Return on Common Equity (ROCE)
50.01% 32.88% 42.62% 37.24% 40.46% 21.18% 30.25% 29.69% 29.14% 13.07% 29.71%
Return on Equity Simple (ROE_SIMPLE)
38.58% 0.00% 34.25% 32.08% 30.12% 0.00% 20.47% 18.60% 19.24% 0.00% 24.57%
Net Operating Profit after Tax (NOPAT)
3,010 1,990 2,544 2,223 2,348 1,222 1,684 1,619 1,523 773 1,322
NOPAT Margin
28.55% 19.42% 25.89% 23.26% 25.06% 13.84% 19.71% 19.77% 18.66% 9.84% 16.68%
Net Nonoperating Expense Percent (NNEP)
1.76% 1.81% 2.74% 1.15% 0.24% 3.62% 0.09% 1.83% 2.88% 8.13% -0.97%
Return On Investment Capital (ROIC_SIMPLE)
7.71% 4.93% - - - 3.48% - - - 2.20% -
Cost of Revenue to Revenue
49.92% 56.29% 52.11% 54.13% 53.11% 60.09% 57.73% 57.08% 58.86% 68.82% 60.42%
SG&A Expenses to Revenue
4.00% 4.43% 4.25% 4.47% 4.31% 4.97% 5.60% 4.90% 4.91% 5.00% 4.71%
R&D to Revenue
7.80% 7.58% 7.48% 7.44% 7.50% 7.62% 7.69% 8.04% 8.42% 8.58% 8.36%
Operating Expenses to Revenue
18.33% 21.53% 18.27% 18.65% 18.79% 22.97% 19.84% 20.60% 20.14% 24.17% 20.24%
Earnings before Interest and Taxes (EBIT)
3,398 2,327 2,888 2,682 2,788 1,323 2,085 1,854 1,643 210 1,794
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
7,301 6,568 6,668 6,533 6,546 5,164 5,749 5,354 5,193 4,248 5,533
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
16.60 15.40 13.40 13.15 12.44 10.35 7.57 8.58 7.05 6.32 5.10
Price to Tangible Book Value (P/TBV)
16.60 15.40 13.40 13.15 12.44 10.35 7.57 8.58 7.05 6.32 5.10
Price to Revenue (P/Rev)
9.93 9.77 8.10 8.01 7.61 6.32 5.11 6.10 4.82 4.15 3.33
Price to Earnings (P/E)
43.03 43.73 39.12 40.99 41.31 39.40 36.98 46.11 36.64 29.21 20.76
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
2.32% 2.29% 2.56% 2.44% 2.42% 2.54% 2.70% 2.17% 2.73% 3.42% 4.82%
Enterprise Value to Invested Capital (EV/IC)
13.22 12.59 10.56 10.13 9.63 7.88 6.09 7.02 5.64 4.80 3.97
Enterprise Value to Revenue (EV/Rev)
10.09 9.92 8.28 8.21 7.81 6.54 5.31 6.28 5.03 4.41 3.57
Enterprise Value to EBITDA (EV/EBITDA)
14.98 14.71 12.49 12.43 11.96 10.28 8.46 9.92 7.98 6.86 5.45
Enterprise Value to EBIT (EV/EBIT)
35.91 36.22 32.14 33.59 33.89 31.93 30.00 36.66 29.47 23.37 17.30
Enterprise Value to NOPAT (EV/NOPAT)
41.52 42.50 37.25 39.78 39.58 36.38 32.57 40.62 33.79 29.03 22.54
Enterprise Value to Operating Cash Flow (EV/OCF)
51.09 52.57 41.56 41.65 37.33 30.31 28.70 43.66 48.89 68.86 95.39
Enterprise Value to Free Cash Flow (EV/FCFF)
54.59 60.87 41.95 43.96 39.01 30.89 34.10 54.06 67.39 147.01 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.63 0.63 0.70 0.63 0.66 0.71 0.65 0.63 0.66 0.69 0.68
Long-Term Debt to Equity
0.58 0.56 0.62 0.55 0.62 0.69 0.63 0.62 0.64 0.69 0.68
Financial Leverage
0.30 0.30 0.29 0.29 0.31 0.38 0.33 0.34 0.38 0.48 0.44
Leverage Ratio
2.22 2.26 2.27 2.22 2.28 2.35 2.28 2.32 2.41 2.54 2.52
Compound Leverage Factor
2.10 2.07 2.13 2.08 2.13 2.04 2.08 2.10 2.15 0.48 2.28
Debt to Total Capital
38.46% 38.64% 41.29% 38.73% 39.61% 41.40% 39.28% 38.79% 39.81% 40.86% 40.35%
Short-Term Debt to Total Capital
2.58% 4.43% 4.70% 4.99% 2.26% 1.14% 1.10% 1.07% 1.10% 0.00% 0.00%
Long-Term Debt to Total Capital
35.88% 34.22% 36.59% 33.75% 37.36% 40.26% 38.18% 37.72% 38.71% 40.86% 40.35%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
61.54% 61.36% 58.71% 61.27% 60.39% 58.60% 60.72% 61.21% 60.19% 59.14% 59.65%
Debt to EBITDA
0.55 0.59 0.64 0.58 0.61 0.68 0.70 0.71 0.72 0.71 0.67
Net Debt to EBITDA
0.25 0.23 0.27 0.31 0.31 0.35 0.31 0.29 0.33 0.41 0.38
Long-Term Debt to EBITDA
0.52 0.52 0.57 0.51 0.58 0.66 0.68 0.69 0.70 0.71 0.67
Debt to NOPAT
1.54 1.71 1.91 1.87 2.03 2.40 2.68 2.91 3.04 2.99 2.78
Net Debt to NOPAT
0.68 0.66 0.81 0.98 1.01 1.22 1.21 1.19 1.39 1.73 1.56
Long-Term Debt to NOPAT
1.43 1.52 1.70 1.63 1.92 2.33 2.61 2.83 2.96 2.99 2.78
Altman Z-Score
10.48 9.65 7.90 8.15 7.44 6.00 5.14 5.57 4.67 4.02 3.64
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.20 1.22 1.13 0.95 1.07 1.12 1.29 1.33 1.26 1.17 1.14
Quick Ratio
0.86 0.89 0.86 0.66 0.76 0.81 0.94 0.99 0.94 0.76 0.79
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
672 -759 1,607 1,511 2,450 2,300 1,446 384 -845 -3,085 -3,700
Operating Cash Flow to CapEx
2,174.36% 968.59% 1,829.61% 1,648.87% 2,922.21% 2,037.21% 1,917.00% 1,426.37% 3,513.02% 397.75% 655.38%
Free Cash Flow to Firm to Interest Expense
3.65 -3.94 8.69 9.00 14.14 13.13 8.24 2.19 -4.85 -18.08 -21.44
Operating Cash Flow to Interest Expense
15.14 7.98 12.56 7.68 12.77 9.49 11.35 8.24 12.50 2.60 3.23
Operating Cash Flow Less CapEx to Interest Expense
14.45 7.16 11.87 7.22 12.33 9.03 10.76 7.66 12.15 1.95 2.73
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.80 0.76 0.74 0.73 0.71 0.69 0.67 0.66 0.67 0.68 0.70
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
25.54 25.28 24.51 24.34 23.97 23.34 22.81 22.67 22.82 23.23 24.28
Accounts Payable Turnover
34.91 25.54 34.99 33.59 33.17 27.79 36.20 35.14 32.56 25.41 31.59
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
10.46 14.29 10.43 10.87 11.01 13.13 10.08 10.39 11.21 14.37 11.55
Cash Conversion Cycle (CCC)
-10.46 -14.29 -10.43 -10.87 -11.01 -13.13 -10.08 -10.39 -11.21 -14.37 -11.55
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
30,674 30,743 29,478 29,437 28,336 27,994 28,541 28,725 28,438 29,072 28,303
Invested Capital Turnover
1.36 1.33 1.30 1.25 1.23 1.18 1.15 1.14 1.17 1.16 1.22
Increase / (Decrease) in Invested Capital
2,338 2,749 938 712 -102 -1,078 238 1,235 2,368 3,858 5,021
Enterprise Value (EV)
405,542 387,001 311,151 298,174 272,786 220,503 173,765 201,707 160,468 139,522 112,476
Market Capitalization
398,896 381,002 304,394 290,850 265,816 213,097 167,332 195,814 153,858 131,228 104,701
Book Value per Share
$56.17 $57.89 $52.94 $51.31 $49.45 $47.04 $49.89 $51.36 $49.01 $46.69 $46.16
Tangible Book Value per Share
$56.17 $57.89 $52.94 $51.31 $49.45 $47.04 $49.89 $51.36 $49.01 $46.69 $46.16
Total Capital
39,045 40,326 38,702 36,093 35,381 35,132 36,408 37,302 36,265 35,130 34,416
Total Debt
15,017 15,583 15,981 13,980 14,016 14,543 14,300 14,470 14,437 14,353 13,888
Total Long-Term Debt
14,011 13,798 14,161 12,180 13,217 14,143 13,901 14,070 14,038 14,353 13,888
Net Debt
6,646 5,999 6,757 7,324 6,970 7,405 6,433 5,893 6,610 8,295 7,774
Capital Expenditures (CapEx)
128 159 127 78 76 82 104 101 62 112 85
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-5,386 -5,454 -5,982 -5,380 -5,615 -5,681 -5,027 -5,347 -5,262 -4,723 -5,063
Debt-free Net Working Capital (DFNWC)
2,985 4,129 3,242 1,276 1,431 1,457 2,840 3,230 2,566 1,335 1,051
Net Working Capital (NWC)
1,979 2,345 1,422 -524 632 1,057 2,441 2,831 2,167 1,335 1,051
Net Nonoperating Expense (NNE)
120 121 181 76 16 284 6.45 131 218 718 -77
Net Nonoperating Obligations (NNO)
6,646 5,999 6,757 7,324 6,970 7,405 6,433 5,893 6,610 8,295 7,774
Total Depreciation and Amortization (D&A)
3,903 4,241 3,780 3,851 3,758 3,841 3,664 3,499 3,550 4,038 3,739
Debt-free, Cash-free Net Working Capital to Revenue
-13.41% -13.99% -15.91% -14.82% -16.07% -16.84% -15.35% -16.64% -16.49% -14.94% -16.09%
Debt-free Net Working Capital to Revenue
7.43% 10.59% 8.63% 3.51% 4.10% 4.32% 8.67% 10.05% 8.04% 4.22% 3.34%
Net Working Capital to Revenue
4.93% 6.01% 3.78% -1.44% 1.81% 3.14% 7.45% 8.81% 6.79% 4.22% 3.34%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$6.76 $4.37 $5.52 $4.99 $5.40 $2.17 $3.80 $3.35 $2.93 $0.12 $3.14
Adjusted Weighted Average Basic Shares Outstanding
427.27M 429.52M 428.24M 430.07M 432.09M 441.57M 441.54M 443.88M 445.24M 444.70M 444.88M
Adjusted Diluted Earnings per Share
$6.61 $4.27 $5.40 $4.88 $5.28 $2.13 $3.73 $3.29 $2.88 $0.12 $3.10
Adjusted Weighted Average Diluted Shares Outstanding
436.96M 439.26M 437.90M 439.74M 441.65M 449.50M 450.01M 451.57M 452.42M 451.29M 450.34M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
425.68M 427.76M 427.46M 429.16M 430.96M 432.76M 437.68M 443.15M 444.54M 445.35M 445.02M
Normalized Net Operating Profit after Tax (NOPAT)
3,010 1,990 2,544 2,223 2,348 1,222 1,684 1,619 1,523 385 1,322
Normalized NOPAT Margin
28.55% 19.42% 25.89% 23.26% 25.06% 13.84% 19.71% 19.77% 18.66% 4.90% 16.68%
Pre Tax Income Margin
30.48% 20.83% 27.51% 26.30% 27.90% 13.00% 22.35% 20.51% 18.00% 0.50% 20.46%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
18.45 12.08 15.62 15.96 16.09 7.55 11.87 10.61 9.43 1.23 10.40
NOPAT to Interest Expense
16.34 10.33 13.76 13.24 13.55 6.97 9.59 9.26 8.74 4.53 7.66
EBIT Less CapEx to Interest Expense
17.75 11.26 14.94 15.50 15.65 7.09 11.28 10.03 9.07 0.58 9.91
NOPAT Less CapEx to Interest Expense
15.65 9.51 13.08 12.77 13.11 6.51 9.00 8.68 8.39 3.88 7.17
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
84.15% 71.90% 100.25% 121.22% 118.81% 111.79% 78.34% 24.62% 9.53% 0.00% 0.00%

Frequently Asked Questions About Netflix's Financials

When does Netflix's financial year end?

According to the most recent income statement we have on file, Netflix's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Netflix's net income changed over the last 9 years?

Netflix's net income appears to be on an upward trend, with a most recent value of $8.71 billion in 2024, rising from $122.64 million in 2015. The previous period was $5.41 billion in 2023. Check out Netflix's forecast to explore projected trends and price targets.

What is Netflix's operating income?
Netflix's total operating income in 2024 was $10.42 billion, based on the following breakdown:
  • Total Gross Profit: $17.96 billion
  • Total Operating Expenses: $7.54 billion
How has Netflix revenue changed over the last 9 years?

Over the last 9 years, Netflix's total revenue changed from $6.78 billion in 2015 to $39.00 billion in 2024, a change of 475.3%.

How much debt does Netflix have?

Netflix's total liabilities were at $28.89 billion at the end of 2024, a 2.6% increase from 2023, and a 262.0% increase since 2015.

How much cash does Netflix have?

In the past 9 years, Netflix's cash and equivalents has ranged from $1.47 billion in 2016 to $8.21 billion in 2020, and is currently $7.80 billion as of their latest financial filing in 2024.

How has Netflix's book value per share changed over the last 9 years?

Over the last 9 years, Netflix's book value per share changed from 5.20 in 2015 to 57.89 in 2024, a change of 1,012.7%.



This page (NASDAQ:NFLX) was last updated on 5/28/2025 by MarketBeat.com Staff
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