Netflix is a streaming service from California. Subscribers in more than 190 countries watch series, films, documentaries and increasingly live sports and games. Revenue comes from subscriptions, including lower-cost plans with ads. As of Oct 13, 2026
Netflix is an entertainment service with series, films, games and live programs in many genres and languages. Members can play, pause and resume content anytime and anywhere and change their plan at any time. Revenue comes mainly from monthly membership fees for streaming content. There are various pricing models, including an ad-supported subscription plan. The content comes from original productions and from licenses from studios, content providers and other rights holders. Netflix runs its business as a single segment.
Automatically summarized from SEC annual report (10-K, filed Jan 23, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Growth, margin and debt compared with the sector – in detail in the fundamental analysis further down. The chart shows the candles without a buy zone.
Growth: greenMargin: greenDebt: green
Netflix · Sector Communication Services · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Jan 23, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
48.5% Fiscal year 2025
Rank 45 of 100: higher than 45% of 153 peers (All). medium.
Rank 7 of 100: higher than 7% of 7 peers (Sector). weak.
Median Communication Services: 59.7%
Share of revenue left after the direct cost of the products sold.
29.5% Fiscal year 2025
Rank 77 of 100: higher than 77% of 192 peers (All). strong.
Rank 65 of 100: higher than 65% of 13 peers (Sector). medium.
Median Communication Services: 20.7%
Operating income divided by revenue: what the core business earns before interest and taxes.
24.3% Fiscal year 2025
Rank 74 of 100: higher than 74% of 237 peers (All). strong.
Rank 65 of 100: higher than 65% of 13 peers (Sector). medium.
Median Communication Services: 17.5%
Profit after all costs, interest and taxes divided by revenue.
41.3% Fiscal year 2025
Rank 85 of 100: higher than 85% of 218 peers (All). strong.
Rank 88 of 100: higher than 88% of 12 peers (Sector). strong.
Median Communication Services: 19.6%
Net income divided by equity at fiscal year end.
19.8% Fiscal year 2025 (total assets at year end)
Rank 92 of 100: higher than 92% of 238 peers (All). strong.
Rank 73 of 100: higher than 73% of 13 peers (Sector). strong.
Median Communication Services: 7.3%
Net income divided by total assets at fiscal year end.
47.9% Fiscal year 2025
Rank 66 of 100: higher than 66% of 239 peers (All). medium.
Rank 58 of 100: higher than 58% of 13 peers (Sector). medium.
Median Communication Services: 35.5%
Equity as a share of total assets. Usually low for banks.
20.9% Fiscal year 2025
Rank 72 of 100: higher than 72% of 213 peers (All). strong.
Rank 79 of 100: higher than 79% of 12 peers (Sector). strong.
Median Communication Services: 17.9%
Free cash flow divided by revenue.
9.5B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
+12.6% per year
Rank 65 of 100: higher than 65% of 230 peers (All). medium.
Rank 73 of 100: higher than 73% of 13 peers (Sector). strong.
Median Communication Services: +8.8%
Average growth per year over 3 fiscal years.
+12.6% per year
Rank 54 of 100: higher than 54% of 217 peers (All). medium.
Rank 46 of 100: higher than 46% of 12 peers (Sector). medium.
Median Communication Services: +14.9%
Average growth per year over 5 fiscal years.
+20.9% per year
Rank 87 of 100: higher than 87% of 157 peers (All). strong.
Rank 75 of 100: higher than 75% of 10 peers (Sector). strong.
Median Communication Services: +14.5%
Average growth per year over 10 fiscal years.
+36.5% per year
Rank 86 of 100: higher than 86% of 157 peers (All). strong.
Rank 44 of 100: higher than 44% of 8 peers (Sector). medium.
Median Communication Services: +38.2%
Growth of earnings per share per year, adjusted for stock splits.
+33.0% per year
Rank 89 of 100: higher than 89% of 146 peers (All). strong.
Rank 93 of 100: higher than 93% of 7 peers (Sector). strong.
Median Communication Services: +29.7%
Growth of earnings per share per year, adjusted for stock splits.
+56.9% per year
Rank 98 of 100: higher than 98% of 140 peers (All). strong.
Rank 92 of 100: higher than 92% of 6 peers (Sector). strong.
Median Communication Services: +20.4%
Growth of earnings per share per year, adjusted for stock splits.
7 of 9 Fiscal year 2025
Rank 72 of 100: higher than 72% of 134 peers (All). strong.
Rank 30 of 100: higher than 30% of 5 peers (Sector). weak.
Median Communication Services: 8.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
0.51 at fiscal year end
Rank 56 of 100: lower than 56% of 199 peers (All). medium.
Rank 59 of 100: lower than 59% of 11 peers (Sector). medium.
Median Communication Services: 0.96
Long-term financial debt divided by equity.
1.19 at fiscal year end
Rank 39 of 100: higher than 39% of 215 peers (All). medium.
Rank 50 of 100: higher than 50% of 13 peers (Sector). medium.
Median Communication Services: 1.19
Current assets divided by current liabilities.
−4.4% in 5 years
Rank 60 of 100: lower than 60% of 199 peers (All). medium.
Rank 75 of 100: lower than 75% of 10 peers (Sector). strong.
Median Communication Services: +0.1%
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 45.2B USD · Net income 11.0B USD · Net margin 24.3%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 48.5 USD gross profit, 29.5 USD operating income and 24.3 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 45.2B USD | 100.0% |
| Gross profit | 21.9B USD | 48.5% |
| Cost of revenue | 23.3B USD | 51.5% |
| Operating income | 13.3B USD | 29.5% |
| Research & development | 3.4B USD | 7.5% |
| Other operating expenses | 5.2B USD | 11.5% |
| Net income | 11.0B USD | 24.3% |
| Interest expense | 776.5M USD | 1.7% |
| Taxes & other (net) | 1.6B USD | 3.5% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin rose in 5 years from 18.3% to 29.5%.
Gross marginOperating marginNet marginReturn on equity rose in 5 years from 25.0% to 41.3%.
Return on equityReturn on assetsThe equity ratio rose in 5 years from 28.2% to 47.9%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.The current ratio fell in 5 years from 1.25 to 1.19.
Current ratioFree cash flow rose in 5 years from 1.9B USD to 9.5B USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count fell in 5 years by 4.4% (mostly through share repurchases).
Diluted share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Over 5 years, 22.0B USD went back to shareholders, 100% of it through share repurchases. This was offset by new shares issued for 174.4M USD (including employee plans).
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USDDividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Netflix next to 8 stocks of the sector Communication Services we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| META Meta Platforms | 201.0B USD | +18.5% | 82.0% | 41.4% | 30.1% | 27.8% | 59.4% | 22.9% | 6/9 |
| VZ Verizon | 138.2B USD | +1.5% | – | 21.2% | 12.4% | 16.2% | 26.2% | 14.6% | – |
| T AT&T | 125.6B USD | −6.1% | – | 19.2% | 17.5% | 17.4% | 30.1% | 15.5% | – |
| CMCSA Comcast | 123.7B USD | +3.6% | – | 16.7% | 16.2% | 20.6% | 35.5% | 17.7% | – |
| DIS Walt Disney Company (The) | 94.4B USD | +7.6% | – | 18.6% | 13.1% | 11.3% | 55.6% | 10.7% | – |
| TMUS T-Mobile US | 88.3B USD | +5.2% | – | 20.7% | 12.4% | 18.6% | 27.0% | 20.4% | – |
| NFLX Netflix this stock | 45.2B USD | +12.6% | 48.5% | 29.5% | 24.3% | 41.3% | 47.9% | 20.9% | 7/9 |
| SNAP Snap | 5.9B USD | +18.8% | 55.0% | −9.0% | −7.8% | −20.2% | 29.7% | 7.4% | – |
| APP AppLovin | 5.5B USD | +30.4% | 87.9% | 75.8% | 60.8% | 156.2% | 29.4% | – | 9/9 |
| Median of the sector 12 symbols | 91.4B USD | +12.6% | 70.8% | 20.4% | 16.8% | 18.6% | 32.8% | 17.7% | – |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 24 symbols in the Communication Services sector on our list (current members of the S&P 500 and other lists).
+12.6% per year, last 5 years
Sector Communication Services: median +6.7% (22 symbols)
What does this mean? Revenue: over 5 years it grew by 12.6% per year on average – at least as fast as the median company in the sector (+6.7%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
+31.8% per year, last 5 years
Sector Communication Services: median +12.7% (12 symbols)
per share: +33.0% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 31.8% per year on average – at least as fast as the median company in the sector (+12.7%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
24.3% last fiscal year
Sector Communication Services: median 10.1% (24 symbols)
What does this mean? Of every 100 USD in revenue, 24.30 USD remained as profit – at least as much as the median company in the sector (10.1%). Five years ago the margin was 11.0%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.43 latest balance sheet
Sector Communication Services: median 0.84 (22 symbols)
What does this mean? For every 1 USD of equity there is 0.43 USD of financial debt – no more than the median company in the sector (0.84). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
Sector Communication Services: median 24% (7 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
10 of 10 fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 45.2B | 11.0B | 24.3% | 2.53 | – | – |
| 2024 | Dec 31, 2024 | 39.0B | 8.7B | 22.3% | 1.98 | – | – |
| 2023 | Dec 31, 2023 | 33.7B | 5.4B | 16.0% | 1.20 | – | – |
| 2022 | Dec 31, 2022 | 31.6B | 4.5B | 14.2% | 1.00 | – | – |
| 2021 | Dec 31, 2021 | 29.7B | 5.1B | 17.2% | 1.12 | – | – |
| 2020 | Dec 31, 2020 | 25.0B | 2.8B | 11.0% | 0.61 | – | – |
| 2019 | Dec 31, 2019 | 20.2B | 1.9B | 9.3% | 0.41 | – | – |
| 2018 | Dec 31, 2018 | 15.8B | 1.2B | 7.7% | 0.27 | – | – |
| 2017 | Dec 31, 2017 | 11.7B | 558.9M | 4.8% | 0.13 | – | – |
| 2016 | Dec 31, 2016 | 8.8B | 186.7M | 2.1% | 0.04 | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q3/26 | Sep 30, 2026 | 12.9B | 3.7B | 28.5% | 0.87 | – | – |
| Q2/26 | Jun 30, 2026 | 12.6B | 3.4B | 27.1% | 0.80 | – | – |
| Q1/26 | Mar 31, 2026 | 12.2B | 5.3B | 43.1% | 1.23 | – | – |
| Q4/25* | Dec 31, 2025 | 12.1B | 2.4B | 20.1% | – | – | – |
| Q3/25 | Sep 30, 2025 | 11.5B | 2.5B | 22.1% | 0.59 | – | – |
| Q2/25 | Jun 30, 2025 | 11.1B | 3.1B | 28.2% | 0.72 | – | – |
| Q1/25 | Mar 31, 2025 | 10.5B | 2.9B | 27.4% | 0.66 | – | – |
| Q4/24* | Dec 31, 2024 | 10.2B | 1.9B | 18.2% | – | – | – |
| Q3/24 | Sep 30, 2024 | 9.8B | 2.4B | 24.1% | 0.54 | – | – |
| Q2/24 | Jun 30, 2024 | 9.6B | 2.1B | 22.5% | 0.49 | – | – |
| Q1/24 | Mar 31, 2024 | 9.4B | 2.3B | 24.9% | 0.53 | – | – |
| Q4/23* | Dec 31, 2023 | 8.8B | 937.8M | 10.6% | – | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Per-share values adjusted for stock split Stock splitA company divides each share into several new ones; the value of the company stays the same. We convert per-share values from before the split to today’s scale.Example: Split 4 : 1, earnings per share before $11.89 → comparable today $2.97.More in the Academy: Lesson revenue, profit and margin 10:1 (between Oct 22, 2025 and Jan 23, 2026). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $13.2M5 people | −$13.2M |
| 6 months | $00 people | $93.3M7 people | −$93.3M |
| 12 months | $00 people | $402.5M8 people | −$402.5M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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