Netflix (NFLX): financials, SEC filings and peers
Netflix (NFLX) is a movies & entertainment company in the Communication Services sector of the S&P 500, headquartered in Los Gatos, California.
It was founded in 1997 and joined the S&P 500 on December 20, 2010.
Its fiscal year ends in December, and its shares trade on the Nasdaq.
In its SEC filings it is classified as “Services-Video Tape Rental”.
Netflix at a glance
- Revenue (12 months)
- $49.7B
- Revenue growth
- +14.7%
- Operating margin
- 31.3%
- Net income (12 months)
- $14.8B
- Free cash flow (12 months)
- $11.4B
- Cash
- $8.2B
- Debt
- $15.1B
- Diluted EPS (12 months)
- $3.46
Twelve months to September 30, 2026, from the 10-Q filed October 21, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Netflix reported revenue of $49.7 billion, up 14.7% from a year earlier.
Its operating margin was 31.3%, up 2.2 percentage points from a year earlier: for every $100 of sales, about $31 was left as operating profit.
Net income was $14.8 billion (29.7% of revenue), 41.6% higher than a year earlier.
Operating cash flow was $12.3 billion and capital spending $933 million, leaving free cash flow of $11.4 billion (22.9% of revenue).
At the end of the period it held $8.2 billion in cash and $15.1 billion in debt, a net debt position of $6.9 billion.
The diluted share count fell 3.3% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $25.0 billion in fiscal 2020 to $45.2 billion in fiscal 2025, about 12.6% a year.
- Revenue has grown for 5 fiscal years in a row.
- Operating margin widened from 18.3% to 29.5% over the same years.
- Free cash flow was negative in 1 of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $29.7B | $31.6B | $33.7B | $39.0B | $45.2B |
| Revenue growth | 18.8% | 6.5% | 6.7% | 15.6% | 15.9% |
| Operating margin | 20.9% | 17.8% | 20.6% | 26.7% | 29.5% |
| Net income | $5.1B | $4.5B | $5.4B | $8.7B | $11.0B |
| Free cash flow | −$132M | $1.6B | $6.9B | $6.9B | $9.5B |
| Diluted EPS | $11.24 | $9.95 | $1.20 | $1.98 | $2.53 |
Fiscal years as reported in Netflix’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
Companies like Netflix
Other S&P 500 companies in Movies & Entertainment:
- DISWalt Disney Company (The)Burbank, California
- LYVLive Nation EntertainmentBeverly Hills, California
- PSKYParamount Skydance CorporationLos Angeles, California
- TKOTKO Group HoldingsNew York City, New York
More from Communication Services
Questions about Netflix
Is Netflix's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $49.7 billion, up 14.7% from a year earlier, according to its SEC filings.
Is Netflix profitable?
Yes. It earned $14.8 billion in net income over the twelve months to September 30, 2026, a net margin of 29.7%.
Does Netflix have more cash or more debt?
At September 30, 2026 it had $8.2 billion in cash and $15.1 billion in debt, so more debt than cash.
When did Netflix last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 21, 2026.
Which companies are similar to Netflix?
In the S&P 500, Netflix is grouped in Movies & Entertainment within the Communication Services sector. Walt Disney Company (The) (DIS), Live Nation Entertainment (LYV), Paramount Skydance Corporation (PSKY), TKO Group Holdings (TKO) are in the same group.
Understand the numbers
Source: Netflix’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.