Alphabet
GOOGL · Interactive Media & Services
$320.21
1.2%Netflix
NFLX · Movies & Entertainment
$65.85
1.8%The short version
- Alphabet is the larger business, with $402.8B of revenue in fiscal 2025 against $45.2B for Netflix, about 8.9 times as much.
- Netflix grew revenue faster (15.9%, against 15.1%).
- Alphabet kept more of each dollar of sales as operating profit (32.0% operating margin, against 29.5% operating margin).
- Netflix turned more of its sales into free cash flow (20.9% FCF margin, against 18.2% FCF margin).
- Investors pay more for each dollar of Netflix’s earnings: a P/E of 19.0x against 16.1x for Alphabet.
| Latest fiscal year | GOOGL · FY25 | NFLX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.94T | $276.2B |
| Revenue | $402.8B | $45.2B |
| Free cash flow | $73.3B | $9.5B |
| Net income | $132.2B | $11.0B |
| Growth | ||
| Revenue growth | 15.1% | 15.9% |
| 5-year growth | 17.2% | 12.6% |
| Share count change | −1.7% | −1.1% |
| Profitability | ||
| Gross margin | 59.7% | 48.5% |
| Operating margin | 32.0% | 29.5% |
| Net margin | 32.8% | 24.3% |
| FCF margin | 18.2% | 20.9% |
| Return on capital | 36.7% | 36.7% |
| Return on equity | 35.7% | 42.8% |
| Balance sheet | ||
| Net debt | −$75.3B | $5.4B |
| Net debt / EBITDA | −0.5x | 0.4x |
| Dividends and buybacks | $55.8B | $9.1B |
| Valuation & quality | ||
| P/E | 16.1x | 19.0x |
| Piotroski F-score | 8 | 7 |
FY16
GOOGL $90.3B
NFLX $8.8B
FY17
GOOGL $110.9B
NFLX $11.7B
FY18
GOOGL $136.8B
NFLX $15.8B
FY19
GOOGL $161.9B
NFLX $20.2B
FY20
GOOGL $182.5B
NFLX $25.0B
FY21
GOOGL $257.6B
NFLX $29.7B
FY22
GOOGL $282.8B
NFLX $31.6B
FY23
GOOGL $307.4B
NFLX $33.7B
FY24
GOOGL $350.0B
NFLX $39.0B
FY25
GOOGL $402.8B
NFLX $45.2B
GOOGL
NFLX
FY16
GOOGL 26.3%
NFLX 4.3%
FY17
GOOGL 23.6%
NFLX 7.2%
FY18
GOOGL 20.1%
NFLX 10.2%
FY19
GOOGL 21.2%
NFLX 12.9%
FY20
GOOGL 22.6%
NFLX 18.3%
FY21
GOOGL 30.6%
NFLX 20.9%
FY22
GOOGL 26.5%
NFLX 17.8%
FY23
GOOGL 27.4%
NFLX 20.6%
FY24
GOOGL 32.1%
NFLX 26.7%
FY25
GOOGL 32.0%
NFLX 29.5%
GOOGL
NFLX
FY16
GOOGL $25.8B
NFLX −$1.6B
FY17
GOOGL $23.9B
NFLX −$2.0B
FY18
GOOGL $22.8B
NFLX −$2.9B
FY19
GOOGL $31.0B
NFLX −$3.1B
FY20
GOOGL $42.8B
NFLX $1.9B
FY21
GOOGL $67.0B
NFLX −$132M
FY22
GOOGL $60.0B
NFLX $1.6B
FY23
GOOGL $69.5B
NFLX $6.9B
FY24
GOOGL $72.8B
NFLX $6.9B
FY25
GOOGL $73.3B
NFLX $9.5B
GOOGL
NFLX
FY16
GOOGL 35.0%
NFLX 7.4%
FY17
GOOGL 23.5%
NFLX 14.2%
FY18
GOOGL 38.1%
NFLX 16.6%
FY19
GOOGL 37.2%
NFLX 16.2%
FY20
GOOGL 36.4%
NFLX 21.7%
FY21
GOOGL 56.9%
NFLX 24.5%
FY22
GOOGL 43.5%
NFLX 17.7%
FY23
GOOGL 41.8%
NFLX 21.3%
FY24
GOOGL 43.4%
NFLX 31.0%
FY25
GOOGL 36.7%
NFLX 36.7%
GOOGL
NFLX
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.