NFLX

MKT CAP:$390B

Netflix, Inc.

Market Cap

$390B

Communication Services·Entertainment·🇺🇸 United States·NASDAQ

Communication·Entertainment·🇺🇸·NASDAQ

Stock Price

$92.58+$1.59 (+1.74%)

Apr 24, 2026

Company Details

Netflix, Inc. provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of ...

CEO

Theodore A. Sarandos

IPO Date

May 23, 2002

Website

www.netflix.com

Key Metrics TTM

Revenue

$46.9B

+16.7% YoY

Net Income

$13.4B

EPS (Diluted)

$3.10

Free Cash Flow

$11.9B

Revenue / Share

$10.91

Gross Margin

49.0%

Operating Margin

29.7%

Net Margin

28.5%

FCF Margin

25.4%

P/S

8.3x

P/E

29.2x

Earnings Reports

Q1 2026

Apr 16, 2026

NEW

$12.2B+16.2%EPS $1.23

FY 2025

Jan 23, 2026

$45.2B+15.9%EPS $2.53

Q4 2025

Jan 23, 2026

$12.1B+17.6%EPS $0.56

Q3 2025

Oct 22, 2025

$11.5B+17.2%EPS $0.59

Q2 2025

Jul 18, 2025

$11.1B+15.9%EPS $0.72

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$8.0B	$3.3B	$1.6B
Q3 22	$7.9B	$3.1B	$1.5B
Q4 22	$7.9B	$2.4B	$550M
Q1 23	$8.2B	$3.4B	$1.7B
Q2 23	$8.2B	$3.5B	$1.8B
Q3 23	$8.5B	$3.6B	$1.9B
Q4 23	$8.8B	$3.5B	$1.5B
Q1 24	$9.4B	$4.4B	$2.6B
Q2 24	$9.6B	$4.4B	$2.6B
Q3 24	$9.8B	$4.7B	$2.9B
Q4 24	$10.2B	$4.5B	$2.3B
Q1 25	$10.5B	$5.3B	$3.3B
Q2 25	$11.1B	$5.8B	$3.8B
Q3 25	$11.5B	$5.3B	$3.2B
Q4 25	$12.1B	$5.5B	$3.0B
Q1 26	$12.2B	$6.4B	$4.0B

Valuation

Quarter	P/S	P/E
Q2 22	2.7x	16.5x
Q3 22	3.4x	21.1x
Q4 22	4.4x	31.2x
Q1 23	4.8x	36.8x
Q2 23	6.1x	45.9x
Q3 23	5.1x	37.1x
Q4 23	6.2x	38.8x
Q1 24	7.6x	41.1x
Q2 24	7.9x	40.7x
Q3 24	8.1x	39.0x
Q4 24	9.9x	44.2x
Q1 25	9.9x	42.8x
Q2 25	13.6x	55.5x
Q3 25	11.8x	49.1x
Q4 25	8.8x	36.3x
Q1 26	8.4x	29.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$103M	$13M
Q3 22	$557M	$472M
Q4 22	$444M	$332M
Q1 23	$2.2B	$2.1B
Q2 23	$1.4B	$1.3B
Q3 23	$2.0B	$1.9B
Q4 23	$1.7B	$1.6B
Q1 24	$2.2B	$2.1B
Q2 24	$1.3B	$1.2B
Q3 24	$2.3B	$2.2B
Q4 24	$1.5B	$1.4B
Q1 25	$2.8B	$2.7B
Q2 25	$2.4B	$2.3B
Q3 25	$2.8B	$2.7B
Q4 25	$2.1B	$1.9B
Q1 26	$5.3B	$5.1B

Capital Expenditures

Quarter	CapEx
Q2 22	$90M
Q3 22	$85M
Q4 22	$112M
Q1 23	$62M
Q2 23	$101M
Q3 23	$104M
Q4 23	$82M
Q1 24	$76M
Q2 24	$78M
Q3 24	$127M
Q4 24	$159M
Q1 25	$128M
Q2 25	$156M
Q3 25	$165M
Q4 25	$239M
Q1 26	$196M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+8.6%	+16.3%
Q3 22	+5.9%	+11.6%
Q4 22	+1.9%	+3.2%
Q1 23	+3.7%	+9.3%
Q2 23	+2.7%	-0.5%
Q3 23	+7.8%	+3.6%
Q4 23	+12.5%	+0.5%
Q1 24	+14.8%	+4.5%
Q2 24	+16.8%	+9.4%
Q3 24	+15.0%	+4.4%
Q4 24	+16.0%	+8.7%
Q1 25	+12.5%	+6.8%
Q2 25	+15.9%	+5.0%
Q3 25	+17.2%	+19.5%
Q4 25	+17.6%	+14.1%
Q1 26	+16.2%	+15.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$150M	1.9%
Q3 22	$152M	1.9%
Q4 22	$154M	2.0%
Q1 23	$99M	1.2%
Q2 23	$78M	1.0%
Q3 23	$80M	0.9%
Q4 23	$83M	0.9%
Q1 24	$76M	0.8%
Q2 24	$69M	0.7%
Q3 24	$66M	0.7%
Q4 24	$62M	0.6%
Q1 25	$72M	0.7%
Q2 25	$81M	0.7%
Q3 25	$81M	0.7%
Q4 25	$135M	1.1%
Q1 26	$140M	1.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 22	$717M	$409M	$575M
Q3 22	$663M	$373M	$568M
Q4 22	$674M	$392M	$832M
Q1 23	$687M	$401M	$555M
Q2 23	$658M	$401M	$627M
Q3 23	$657M	$479M	$559M
Q4 23	$673M	$439M	$917M
Q1 24	$702M	$404M	$654M
Q2 24	$711M	$427M	$644M
Q3 24	$735M	$417M	$643M
Q4 24	$777M	$454M	$976M
Q1 25	$823M	$421M	$688M
Q2 25	$825M	$441M	$713M
Q3 25	$854M	$458M	$786M
Q4 25	$890M	$568M	$1.1B
Q1 26	$960M	$603M	$842M

Revenue Segments

Quarter	Domestic Dvd	Streaming
Q2 22	$37M	$7.9B
Q3 22	$35M	$7.9B
Q4 22	-$12M	$7.8B
Q1 23	$32M	$8.1B
Q2 23	$29M	$8.2B
Q3 23	$22M	$8.5B
Q4 23	—	$8.8B
Q1 24	—	$9.4B
Q2 24	—	$9.6B
Q3 24	—	$9.8B

Revenue by Geography

Quarter	Asia Pacific	Emea	Latin America	United States And Canada
Q2 22	$908M	$2.5B	$1.0B	$3.5B
Q3 22	$889M	$2.4B	$1.0B	$3.6B
Q4 22	$857M	$2.4B	$1.0B	$3.6B
Q1 23	$934M	$2.5B	$1.1B	$3.6B
Q2 23	$919M	$2.6B	$1.1B	$3.6B
Q3 23	$948M	$2.7B	$1.1B	$3.7B
Q4 23	$963M	$2.8B	$1.2B	$3.9B
Q1 24	$1.0B	$3.0B	$1.2B	$4.2B
Q2 24	$1.1B	$3.0B	$1.2B	$4.3B
Q3 24	$1.1B	$3.1B	$1.2B	$4.3B
Q4 24	$1.2B	$3.3B	$1.2B	$4.5B
Q1 25	$1.3B	$3.4B	$1.3B	$4.6B
Q2 25	$1.3B	$3.5B	$1.3B	$4.9B
Q3 25	$1.4B	$3.7B	$1.4B	$5.1B
Q4 25	$1.4B	$3.9B	$1.4B	$5.3B
Q1 26	$1.5B	$4.0B	$1.5B	$5.2B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$5.8B	$0	$5.8B
Q3 22	$6.1B	$0	$6.1B
Q4 22	$5.1B	$911M	$6.1B
Q1 23	$6.7B	$1.1B	$7.8B
Q2 23	$7.7B	$914M	$8.6B
Q3 23	$7.4B	$514M	$7.9B
Q4 23	$7.1B	$21M	$7.1B
Q1 24	$7.0B	$21M	$7.0B
Q2 24	$6.6B	$31M	$6.7B
Q3 24	$7.5B	$1.8B	$9.2B
Q4 24	$7.8B	$1.8B	$9.6B
Q1 25	$7.2B	$1.2B	$8.4B
Q2 25	$8.2B	$213M	$8.4B
Q3 25	$9.3B	$37M	$9.3B
Q4 25	$9.0B	$29M	$9.1B
Q1 26	$12.3B	$29M	$12.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	4.50B	-0.6%	-1.1%
Q3 22	4.50B	+0.0%	-1.0%
Q4 22	4.52B	+0.3%	-0.9%
Q1 23	4.52B	+0.2%	-0.1%
Q2 23	4.52B	-0.2%	+0.3%
Q3 23	4.50B	-0.3%	-0.1%
Q4 23	4.49B	-0.1%	-0.5%
Q1 24	4.42B	-1.7%	-2.4%
Q2 24	4.40B	-0.4%	-2.6%
Q3 24	4.38B	-0.4%	-2.7%
Q4 24	4.38B	-0.0%	-2.6%
Q1 25	4.37B	-0.2%	-1.1%
Q2 25	4.35B	-0.5%	-1.1%
Q3 25	4.34B	-0.2%	-0.9%
Q4 25	4.32B	-0.5%	-1.4%
Q1 26	4.30B	-0.4%	-1.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$705.3K	11K
Q3 22	$701.4K	11K
Q4 22	$613.4K	13K
Q1 23	$637.6K	13K
Q2 23	$639.6K	13K
Q3 23	$667.3K	13K
Q4 23	$679.4K	13K
Q1 24	$720.8K	13K
Q2 24	$735.3K	13K
Q3 24	$755.7K	13K
Q4 24	$731.9K	14K
Q1 25	$753.1K	14K
Q2 25	$791.4K	14K
Q3 25	$822.2K	14K
Q4 25	$753.2K	16K
Q1 26	$765.6K	16K

Revenue / Employee