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NFLX

Netflix, Inc.

NFLX

Netflix, Inc. • NASDAQ
$107.57 ▲ 1.35% (+1.43)
Market Cap $455.71 B
52w High $134.12
52w Low $82.11
Dividend Yield 0%
P/E 44.82
Volume 14.93M
Outstanding Shares 4.24B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $11.51B ▲ $2.098B ▲ $2.547B ▼ 22.127% ▼ $0.601 ▼ $7.375B ▼
Q2-2025 $11.079B ▲ $1.979B ▲ $3.125B ▲ 28.21% ▲ $0.735 ▲ $7.726B ▲
Q1-2025 $10.543B ▲ $1.933B ▼ $2.89B ▲ 27.415% ▲ $0.676 ▲ $7.301B ▲
Q4-2024 $10.247B ▲ $2.206B ▲ $1.869B ▼ 18.237% ▼ $0.437 ▼ $6.568B ▼
Q3-2024 $9.825B $1.795B $2.364B 24.057% $0.552 $6.69B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $9.328B ▲ $54.935B ▲ $28.981B ▲ $25.954B ▲
Q2-2025 $8.394B ▲ $53.1B ▲ $28.148B ▲ $24.952B ▲
Q1-2025 $8.371B ▼ $52.088B ▼ $28.06B ▼ $24.028B ▼
Q4-2024 $9.584B ▲ $53.63B ▲ $28.887B ▼ $24.744B ▲
Q3-2024 $9.224B $52.282B $29.561B $22.721B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.547B ▼ $2.825B ▲ $43.871M ▼ $-1.737B ▲ $1.11B ▲ $2.66B ▲
Q2-2025 $3.125B ▲ $2.423B ▼ $768.684M ▲ $-2.503B ▲ $976.545M ▲ $2.267B ▼
Q1-2025 $2.89B ▲ $2.789B ▲ $485.662M ▲ $-4.028B ▼ $-603.309M ▼ $2.661B ▲
Q4-2024 $1.869B ▼ $1.537B ▼ $-158.674M ▲ $-678.698M ▼ $348.252M ▼ $1.378B ▼
Q3-2024 $2.364B $2.321B $-1.869B $226.596M $832.04M $2.194B

Revenue by Products

Product Q4-2023Q1-2024Q2-2024Q3-2024
Streaming
Streaming
 $8.83Bn ▲$9.37Bn ▲$9.56Bn ▲$9.82Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Income statement: Netflix’s income statement shows a business that has scaled very well. Revenue has climbed steadily every year, but profits have grown even faster, which means the company is squeezing more earnings out of each dollar of sales. Both operating profit and net profit have expanded meaningfully, suggesting better cost control, smarter content spending, and strong pricing power. There was a period of slower growth in the middle of the five‑year stretch, but the more recent years show a clear rebound in profitability, with earnings per share rising much faster than revenue. The main risk here is the ongoing need to keep spending heavily on content to sustain that momentum.

Balance Sheet

Balance Sheet Balance sheet: The balance sheet has gradually strengthened. Total assets have grown at a healthy pace, and shareholders’ equity has increased significantly, reflecting the accumulation of retained earnings. Debt levels have stayed relatively stable in dollar terms, which means leverage has eased as the business has grown. Cash holdings have been consistently solid and recently have ticked up, giving Netflix more flexibility to fund content, buy technology, or manage downturns. The broad picture is a company that still uses debt, but now rests on a much thicker equity cushion than a few years ago, reducing financial fragility.

Cash Flow

Cash Flow Cash flow: The cash‑flow story is one of the most striking improvements. Netflix has moved from a model that often consumed cash to one that now generates substantial free cash flow year after year. Operating cash flow has strengthened dramatically, and after only modest spending on physical assets, most of that cash falls through to free cash flow. This suggests more disciplined content investment and better timing between what Netflix spends on shows and what it collects from subscribers. The key watchpoint is that this depends on continued subscriber growth, stable pricing, and sustained engagement; any disruption there can quickly show up in cash generation.

Competitive Edge

Competitive Edge Competitive position: Netflix sits at the center of global streaming with a very strong competitive position. Its advantages come from a large worldwide subscriber base, a deep library of exclusive original content, powerful data‑driven recommendations, and a brand that is almost shorthand for streaming itself. The platform’s user experience is polished and familiar, which lowers friction for everyday viewing and keeps people engaged. At the same time, competition from other big media and tech players remains intense, with rivals also spending heavily on content and bundling their services. That means Netflix’s moat is meaningful but constantly tested; it must keep delivering must‑watch content and a smooth experience to defend its lead.

Innovation and R&D

Innovation and R&D Innovation & R&D: Netflix is not a lab‑heavy company in the traditional sense, but it is deeply innovative in software, data, and product design. Its recommendation engine, user interface, and custom-built content delivery network are core technology assets that enhance viewer satisfaction and reduce delivery costs. The company is now layering on newer initiatives: an ad‑supported tier with its own ad‑tech stack, an expanding push into mobile gaming, experiments in live events and sports, and greater use of artificial intelligence to personalize and surface content. These moves broaden the ecosystem around the core streaming product. The opportunity is to unlock new revenue streams and deeper engagement; the risk is that some of these bets may take time to scale or could distract management if they do not gain traction.

Summary

Summary: Overall, Netflix looks like a business that has successfully shifted from a growth‑at‑all‑costs phase to a more balanced model with solid profitability and strong cash generation, while still investing heavily in its future. The income statement and cash flows show clear improvement in efficiency and earnings power, and the balance sheet has become more resilient over time. Strategically, Netflix holds a strong but contested position in a crowded streaming landscape, relying on scale, data, and original content to maintain its edge. Its ongoing innovations in advertising, gaming, live content, and AI offer meaningful upside but also introduce execution risk. Future performance will depend on Netflix’s ability to keep its content slate compelling, manage costs, and successfully turn these new initiatives into durable, cash‑generating businesses.

NEWS

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November 19, 2025 · 10:00 AM UTC

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November 17, 2025 · 2:00 PM UTC

INVESTIGATION ALERT: Edelson Lechtzin LLP Announces Investigation of Netflix, Inc. (NASDAQ: NFLX) and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact the Firm

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November 15, 2025 · 11:40 AM UTC

NFLX INVESTIGATION: Investigation Launched into Netflix, Inc., Attorneys Encourage Investors and Potential Witnesses to Contact Law Firm

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