NFLX
SP100NasdaqGSNetflix, Inc.
Communication Services · Entertainment · United States
Netflix, Inc. provides entertainment services worldwide. The company offers television (TV) series, documentaries, feature films, games, and live programming across various genres and languages. It also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices. Netflix, Inc. was incorporated in 1997 and is headquartered in Los Gatos, California.
www.netflix.com ↗Shares trade at a premium 25.0× trailing earnings, easing to 20.2× on forward estimates. Profitability shows a net margin of 28.5% and return on equity of 48.5%. Leverage is modest at 0.3× net debt/EBITDA. Revenue grew 16.2% year-on-year. The mean analyst target of USD113.94 sits 46.7% above the current price (Buy, 44 analysts).
business model
Netflix is a subscription streaming service that produces and licenses films and series delivered on demand over the internet, monetizing through monthly subscriptions across tiers. It has added an ad-supported tier and paid sharing (crackdown on password sharing) to expand revenue, and invests heavily in original content.
revenue segments
Revenue is overwhelmingly from paid streaming memberships, reported by geographic region (UCAN, EMEA, LATAM, and APAC), driven by subscriber counts and average revenue per membership. Advertising from its ad-supported tier is a growing but still small contributor.
key dependencies
Depends on subscriber growth and retention, content spending and hit-making ability, pricing power, expansion of advertising and paid sharing, global broadband penetration, and effective recommendation algorithms to drive engagement.
competitors
Competes with Disney+ (and Hulu/ESPN), Amazon Prime Video, Warner Bros. Discovery (Max), Apple TV+, Paramount+, Peacock, YouTube, and regional streamers, as well as broadly for viewing time.
moat
Benefits from massive global scale, a large subscriber base funding content investment, strong brand and data-driven content and personalization, and first-mover advantages in streaming infrastructure and original production.
risks
Faces intense streaming competition and content cost inflation, subscriber saturation in mature markets, churn sensitivity to pricing, dependence on continuously producing popular content, currency exposure, and execution risk in scaling advertising and live content.
Financials & metrics
as of 28 Aug 2026Price is closer to the low end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
Tap any metric for an explanation.● provider● computedN/A not available from source
Valuation history is being recorded
We snapshot P/E and price targets daily. This chart fills in over the coming days.
Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $45.18B | $39.00B | $33.72B | $31.62B | — |
| Cost of revenue | $23.28B | $21.04B | $19.72B | $19.17B | — |
| Gross profit | $21.91B | $17.96B | $14.01B | $12.45B | — |
| Operating expense | $8.58B | $7.54B | $7.05B | $6.81B | — |
| R&D | $3.39B | $2.93B | $2.68B | $2.71B | — |
| Operating income | $13.33B | $10.42B | $6.95B | $5.63B | — |
| Interest expense | $776.51M | $718.73M | $748.60M | $706.21M | — |
| Pretax income | $12.72B | $9.97B | $6.21B | $5.26B | — |
| Tax provision | $1.74B | $1.25B | $797.41M | $772.00M | — |
| Net income | $10.98B | $8.71B | $5.41B | $4.49B | — |
| EBITDA | $30.25B | $26.31B | $21.51B | $20.33B | — |
| Diluted EPS | $2.53 | $1.98 | $1.20 | $0.99 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $55.60B | $53.63B | $48.73B | $48.59B | — |
| Current assets | $13.02B | $13.10B | $9.92B | $9.27B | — |
| Cash & equivalents | $9.03B | $7.80B | $7.12B | $5.15B | — |
| Total liabilities | $28.98B | $28.89B | $28.14B | $27.82B | — |
| Current liabilities | $10.98B | $10.76B | $8.86B | $7.93B | — |
| Total debt | $14.46B | $15.58B | $14.54B | $14.35B | — |
| Long-term debt | $13.46B | $13.80B | $14.14B | $14.35B | — |
| Shareholders' equity | $26.62B | $24.74B | $20.59B | $20.78B | — |
| Retained earnings | $42.28B | $31.30B | $22.59B | $17.18B | — |
| Working capital | $2.04B | $2.34B | $1.06B | $1.34B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $10.15B | $7.36B | $7.27B | $2.03B | — |
| Investing cash flow | $1.04B | -$2.18B | $541.75M | -$2.08B | — |
| Financing cash flow | -$10.35B | -$4.07B | -$5.95B | -$664.25M | — |
| Capital expenditure | -$688.22M | -$439.54M | -$348.55M | -$407.73M | — |
| Free cash flow | $9.46B | $6.92B | $6.93B | $1.62B | — |
| Share buybacks | -$9.13B | -$6.26B | -$6.05B | $0.00 | — |
| End cash position | $9.04B | $7.81B | $7.12B | $5.17B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 28 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 27 Aug 2026News
Sector peers
Notes & alerts
Sign in to keep a private research note and set price alerts for NFLX.