Netflix
NFLX Nasdaq· Movies & Entertainment
Last close · Oct 26, 2026
$63.90
KIRA · Stoqly’s AI analyst, in plain words
- Netflix had $45.2B of revenue in fiscal 2025, up 15.9% on the year before. Over five years, revenue changed +12.6% a year on average.
- Its operating margin was 29.5%, up 2.8 pts: of every 100 in sales, about 29 is left after running the business.
- Netflix made $11.0B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 58.5% a year.
- Free cash flow was $9.5B in fiscal 2025, 20.9% of revenue.
- Netflix returned $9.1B to shareholders in fiscal 2025, 96% of free cash flow. The diluted share count fell 1.1%.
- Netflix owes $5.4B more than it holds in cash, about 0.4 years of operating profit.
Market cap
$268.1B
P/E
18.5x
Revenue
$45.2B
Net income
$11.0B
Free cash flow
$9.5B
Operating margin
29.5%
Netflix in 30 seconds · fiscal 2025
Are sales growing?
+15.9%
Yes. Sales grew 15.9% last year.
Does it make a profit?
24.3%
Yes. It keeps 24.3% of every sale as profit.
Does profit turn into cash?
20.9%
Yes. 20.9% of sales ends up as free cash.
Is debt under control?
0.4x
Yes. It could repay its debt with 0.4 years of operating profit.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
How is the share priced?
18.5x
One share costs 18.5 times its yearly profit per share. Typical for its sector: 17.1x.
What Netflix does
Netflix runs a paid streaming service with TV series, films, games and live programming in many genres and languages. Members can watch as much as they want, whenever they want, and change their plan at any time. It offers a range of pricing plans, including one with advertising. Most of its revenue comes from monthly membership fees, and it reports a single business segment. Netflix says it competes for people's free time not only with other streaming services and traditional TV, but also with video games, sites where people post their own videos, and social media. It also competes with them for the rights to films and shows, both licensed and its own productions. At the end of 2025 Netflix had about 16,000 full-time employees, 68% of them in the United States and Canada. It also employs people in content production, some part-time or temporary.
Biggest risks, in its own words
- Failing to attract and keep members, or to keep improving the service for them.
- Competition from other video services, and the cost and legal risks of the shows and films it buys or makes.
- Large, long-term content commitments and debt that leave it less room to adjust spending.
- Its reliance on Amazon Web Services and on the devices of its partners to deliver the service.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Jan 23, 2026
- Legal name
- Netflix, Inc.
- CIK
- 0001065280
Netflix · NFLX
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $29.7B | $31.6B | $33.7B | $39.0B | $45.2B |
| Revenue growth | 18.8% | 6.5% | 6.7% | 15.7% | 15.9% |
| Gross margin | 41.6% | 39.4% | 41.5% | 46.1% | 48.5% |
| Operating margin | 20.9% | 17.8% | 20.6% | 26.7% | 29.5% |
| Net income | $5.1B | $4.5B | $5.4B | $8.7B | $11.0B |
| Net margin | 17.2% | 14.2% | 16.0% | 22.3% | 24.3% |
| Diluted EPS | $1.12 | $0.99 | $1.20 | $1.98 | $2.53 |
| Cash | |||||
| Cash from operations | $393M | $2.0B | $7.3B | $7.4B | $10.1B |
| Capital expenditure | $525M | $408M | $349M | $440M | $688M |
| Free cash flow | −$132M | $1.6B | $6.9B | $6.9B | $9.5B |
| FCF margin | −0.4% | 5.1% | 20.5% | 17.8% | 20.9% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $600M | $0.0M | $6.0B | $6.3B | $9.1B |
| Share count change | 0.3% | −0.9% | −0.4% | −2.3% | −1.1% |
| Debt and strength | |||||
| Cash and short-term investments | $6.1B | $6.1B | $7.1B | $9.6B | $9.1B |
| Debt incl. finance leases | $15.4B | $14.4B | $14.5B | $15.6B | $14.5B |
| Shareholders' equity | $15.8B | $20.8B | $20.6B | $24.7B | $26.6B |
| Net debt / EBITDA | 1.5x | 1.4x | 1.0x | 0.6x | 0.4x |
| Current ratio | 1.0x | 1.2x | 1.1x | 1.2x | 1.2x |
| Interest coverage | 8.1x | 8.0x | 9.9x | 14.5x | 17.2x |
| Returns and quality | |||||
| Return on capital | 24.5% | 17.7% | 21.3% | 31.0% | 36.7% |
| Return on equity | 38.0% | 24.5% | 26.2% | 38.4% | 42.8% |
| Piotroski F-score | 6 | 5 | 7 | 7 | 7 |
| Altman Z'' | 2.4 | 2.9 | 3.4 | 4.4 | 5.3 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$314M
8 insiders
Of sales under plans
96%
$301M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Netflix · NFLX
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Netflix NFLX | $268.1B | 15.9% | 29.5% | 20.9% | 36.7% | 18.5x | 7 |
| Disney DIS | $192.4B | 3.4% | 18.6% | 10.7% | 11.8% | 22.8x | 7 |
| Meta Platforms META | $1.62T | 22.2% | 41.4% | 22.9% | 35.5% | 21.5x | 6 |
| Alphabet GOOGL | $3.90T | 15.1% | 32.0% | 18.2% | 36.7% | 15.9x | 8 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $63.90 a share, the company is worth $268.1B: 18.5 times its earnings of the last four quarters.
Netflix grew sales faster than 2 of its 3 similar companies. Its P/E is higher than 1 of 3.
Source: SEC EDGAR XBRL filings (CIK 0001065280). Data updated October 21, 2026. For information only — not investment advice. Check the original filings before relying on any figure.