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Nasdaq · Technology

NETFLIX INC (NFLX)

As-reported financials and recent SEC filings for NETFLIX INC, latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About NETFLIX INC

Netflix Inc provides entertainment services that include streaming TV series, films, games, and live programming across various genres and languages. The company offers subscription plans that allow members to watch content on demand and aims to serve a global audience. Its revenues primarily come from monthly membership fees for streaming content.

Snapshot

Revenue
$45.18B
Revenue growth (YoY)
15.9%
Net income
$10.98B
Diluted EPS
$2.53
Gross margin
48.5%
Operating margin
29.5%
Net margin
24.3%
FCF margin
20.9%
ROE
41.3%
P/E (TTM)
22.1×
Market cap
$293.14B
Debt / equity
0.5×

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at Netflix

  • Revenue grew 15.9% to $45.2B in FY2025, in line with the 15.6% the year before.
  • Operating margin is 29.5% in FY2025, +8.6 pp against 20.9% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $12.6B, up 13.4% from Q2 FY2025.
  • Free cash flow was $9.5B in FY2025, 20.9% of revenue.
  • Net income rose 26.1% to $11.0B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Netflix’s fundamentals sit among the 625 Technology companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin48.5%
48th percentile of 507
Operating margin29.5%
94th percentile of 562
Net margin24.3%
89th percentile of 576
FCF margin20.9%
75th percentile of 541
Revenue growth (YoY)+15.9%
65th percentile of 616
ROE41.3%
94th percentile of 536
P/E (TTM)22.1×
39th percentile of 332
Debt / equity0.51×
61st percentile of 276
Short interest2.55d
33rd percentile of 623

Netflix’s operating margin of 29.5% ranks in the 94th percentile of the 562 Technology companies reporting it. Netflix’s return on equity of 41.3% ranks in the 94th percentile of the 536 Technology companies reporting it. Netflix’s net margin of 24.3% ranks in the 89th percentile of the 576 Technology companies reporting it.

No open-market insider buys in the last 90 days; 13 insider sales totaling $80.1M. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 12 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
12
+7 quant / multi-strat
Initiated / added
10
4 new, 6 added
Reduced / exited
9
8 trimmed, 1 exited
Combined position
$3.73B
reported long value
InvestorAs ofPosition valueSharesChange
Harris Associates (Oakmark)Q1 2026$948.0M9.9MAdded
Sands Capital ManagementQ1 2026$905.2M9.4MReduced
Coatue ManagementQ1 2026$662.8M6.9MReduced
AQR Capital ManagementquantQ1 2026$279.0M2.9MAdded
Tiger Global ManagementQ1 2026$234.5M2.4MHeld
Millennium ManagementquantQ1 2026$201.3M2.1MReduced
Citadel AdvisorsquantQ1 2026$166.0M1.7MReduced
D. E. ShawquantQ1 2026$150.7M1.6MReduced
Gotham Asset ManagementQ1 2026$49.7M517.4KAdded
Two Sigma InvestmentsquantQ1 2026$31.3M325.8KReduced
Hound PartnersQ1 2026$27.4M284.5KNew
Point72 Asset ManagementquantQ1 2026$22.1M230.0KNew
ARK Investment ManagementQ1 2026$20.9M217.4KAdded
Whale Rock Capital ManagementQ1 2026$12.7M132.0KNew
Polen Capital ManagementQ1 2026$8.0M83.3KReduced
Bridgewater AssociatesQ1 2026$7.5M77.6KAdded
Soros Fund ManagementQ1 2026$4.6M47.9KNew
Ruane Cunniff (Sequoia)Q1 2026$777,9508.1KAdded
Renaissance TechnologiesquantQ1 2026$235,1532.5KReduced

No longer held by: Maverick Capital (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
open-market
Bought (90d)
open-market value
Sells (90d)
13
$80.1M
Signal
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-17
filed 2026-06-18
SMITH BRADFORD LDirectorSell22.2K$77.21$1.7M
2026-06-17
filed 2026-06-18
SMITH BRADFORD LDirectorSell13.8K$78.01$1.1M
2026-06-01
filed 2026-06-02
HASTINGS REEDDirectorSell332.9K$85.85$28.6M
2026-06-01
filed 2026-06-02
HASTINGS REEDDirectorSell53.8K$86.73$4.7M
2026-05-07
Peters Gregory KCo-CEOSell27.3K$88.69$2.4M
2026-05-07
Neumann Spencer AdamChief Financial OfficerSell9.3K$88.95$823K
2026-05-05
SARANDOS THEODORE ACo-CEOSell13.0K$87.96$1.1M
2026-05-05
SARANDOS THEODORE ACo-CEOSell7.3K$87.97$638K
2026-05-05
SARANDOS THEODORE ACo-CEOSell7.0K$87.98$619K
2026-05-05
HYMAN DAVID AChief Legal OfficerSell5.7K$88.08$504K
2026-05-01
filed 2026-05-04
HASTINGS REEDDirectorSell188.4K$92.28$17.4M
2026-05-01
filed 2026-05-04
HASTINGS REEDDirectorSell113.3K$94.17$10.7M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
99.7M
settled 2026-07-15
Change vs prior
-4.2%
vs previous settlement
Days to cover
2.55
at avg daily volume
Avg daily volume
39.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-1599.7M-4.2%2.55
2026-06-30104.1M+3.1%1.76
2026-06-15101.0M-0.5%2.78
2026-05-29101.6M+3.6%3.41
2026-05-1598.0M+3.1%2.77
2026-04-3095.1M+21.9%1.93
2026-04-1578.0M-3.0%2.43
2026-03-3180.4M-0.9%2.06

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$45.18B$39.00B$33.72B$31.62B$29.70B
Gross profit$21.91B$17.96B$14.01B$12.45B$12.37B
Operating income$13.33B$10.42B$6.95B$5.63B$6.19B
Net income$10.98B$8.71B$5.41B$4.49B$5.12B
Diluted EPS$2.53$1.98$1.20$0.99$1.12

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$10.15B$7.36B$7.27B$2.03B$392.6M
Capital expenditure$688.2M$439.5M$348.6M$407.7M$524.6M
Free cash flow$9.46B$6.92B$6.93B$1.62B$-132.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$12.56B13.4%$3.40B$0.80
Q1 FY2026$12.25B16.2%$5.28B$1.23
Q4 FY2025$12.05B17.6%$2.42B
Q3 FY2025$11.51B17.2%$2.55B
Q2 FY2025$11.08B15.9%$3.13B$0.72
Q1 FY2025$10.54B12.5%$2.89B$0.66
Q4 FY2024$10.25B16.0%$1.87B
Q3 FY2024$9.82B15.0%$2.36B

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industryServices-Video Tape Rental
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2023
SEC CIK1065280

Recent SEC filings

10-K2026-01-23
View on EDGAR →
10-K2025-01-27
View on EDGAR →
10-Q2026-07-17
View on EDGAR →
10-Q2026-04-17
View on EDGAR →
10-Q2025-10-22
View on EDGAR →
10-Q2025-07-18
View on EDGAR →
8-K2026-07-22
View on EDGAR →
8-K2026-07-16
View on EDGAR →

Largest Technology peers

All Technology companies →

NFLX head to head

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.