Netflix, Inc. (NFLX) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 12.25B | 12.05B | 11.51B | 11.08B | 10.54B | 10.25B | 9.82B | 9.56B | 9.37B | 8.83B | 8.54B | 8.19B | 8.16B | 7.85B | 7.93B | 7.97B | 7.87B | 7.71B | 7.48B | 7.34B |
| Revenue Growth % | 16.19% | 17.61% | 17.16% | 15.9% | 12.51% | 16% | 15.02% | 16.76% | 14.81% | 12.49% | 7.77% | 2.72% | 3.73% | 1.85% | 5.91% | 8.56% | 9.83% | 16.03% | 16.28% | 19.41% |
| Cost of Goods Sold | 5.89B | 6.52B | 6.16B | 5.33B | 5.26B | 5.77B | 5.12B | 5.17B | 4.98B | 5.31B | 4.93B | 4.67B | 4.8B | 5.4B | 4.79B | 4.69B | 4.28B | 5.24B | 4.21B | 4.02B |
| COGS % of Revenue | 48.07% | 54.13% | 53.55% | 48.07% | 49.92% | 56.29% | 52.11% | 54.13% | 53.11% | 60.09% | 57.73% | 57.08% | 58.86% | 68.82% | 60.42% | 58.85% | 54.46% | 67.96% | 56.21% | 54.73% |
| Gross Profit | 6.36B | 5.53B | 5.35B | 5.75B | 5.28B | 4.48B | 4.7B | 4.39B | 4.39B | 3.53B | 3.61B | 3.51B | 3.36B | 2.45B | 3.14B | 3.28B | 3.58B | 2.47B | 3.28B | 3.32B |
| Gross Margin % | 51.93% | 45.87% | 46.45% | 51.93% | 50.08% | 43.71% | 47.89% | 45.87% | 46.89% | 39.91% | 42.27% | 42.92% | 41.14% | 31.18% | 39.58% | 41.15% | 45.54% | 32.04% | 43.79% | 45.27% |
| Gross Profit Growth % | 20.49% | 23.42% | 13.63% | 31.21% | 20.17% | 27.06% | 30.3% | 24.8% | 30.84% | 44.02% | 15.11% | 7.15% | -6.28% | -0.88% | -4.27% | -1.34% | 8.75% | -0.38% | 27.61% | 32.71% |
| Operating Expenses | 2.4B | 2.57B | 2.1B | 1.98B | 1.93B | 2.21B | 1.8B | 1.78B | 1.76B | 2.03B | 1.69B | 1.69B | 1.64B | 1.9B | 1.6B | 1.7B | 1.61B | 1.84B | 1.52B | 1.48B |
| OpEx % of Revenue | 19.63% | 21.34% | 18.23% | 17.86% | 18.33% | 21.53% | 18.27% | 18.64% | 18.79% | 22.97% | 19.84% | 20.6% | 20.14% | 24.17% | 20.24% | 21.34% | 20.48% | 23.84% | 20.33% | 20.11% |
| Selling, General & Admin | 1.44B | 1.68B | 1.24B | 1.15B | 1.11B | 1.43B | 1.06B | 1.07B | 1.06B | 1.36B | 1.04B | 1.03B | 956.29M | 1.22B | 941.17M | 984.26M | 953.91M | 1.19B | 957.74M | 938.82M |
| SG&A % of Revenue | 11.79% | 13.95% | 10.81% | 10.42% | 10.53% | 13.95% | 10.79% | 11.2% | 11.29% | 15.35% | 12.14% | 12.56% | 11.72% | 15.59% | 11.88% | 12.35% | 12.12% | 15.44% | 12.8% | 12.79% |
| Research & Development | 959.7M | 890.3M | 853.58M | 824.68M | 822.82M | 776.5M | 735.06M | 711.25M | 702.47M | 673.34M | 657.16M | 657.98M | 687.27M | 673.93M | 662.74M | 716.85M | 657.53M | 647.47M | 563.89M | 537.32M |
| R&D % of Revenue | 7.83% | 7.39% | 7.42% | 7.44% | 7.8% | 7.58% | 7.48% | 7.44% | 7.5% | 7.62% | 7.69% | 8.04% | 8.42% | 8.58% | 8.36% | 8.99% | 8.36% | 8.4% | 7.54% | 7.32% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 3.96B | 2.96B | 3.25B | 3.77B | 3.35B | 2.27B | 2.91B | 2.6B | 2.63B | 1.5B | 1.92B | 1.83B | 1.71B | 549.9M | 1.53B | 1.58B | 1.97B | 631.77M | 1.76B | 1.85B |
| Operating Margin % | 32.3% | 24.54% | 28.22% | 34.07% | 31.75% | 22.18% | 29.61% | 27.23% | 28.09% | 16.94% | 22.44% | 22.32% | 21% | 7% | 19.34% | 19.8% | 25.06% | 8.19% | 23.46% | 25.17% |
| Operating Income Growth % | 18.23% | 30.09% | 11.64% | 45.02% | 27.14% | 51.91% | 51.82% | 42.45% | 53.56% | 172.07% | 25.01% | 15.77% | -13.05% | -12.96% | -12.66% | -14.58% | 0.6% | -33.79% | 33.49% | 36.06% |
| EBITDA | 8.27B | 7.81B | 7.34B | 7.69B | 7.25B | 6.51B | 6.69B | 6.45B | 6.39B | 5.34B | 5.58B | 5.33B | 5.26B | 4.59B | 5.27B | 4.92B | 5.21B | 4.44B | 4.79B | 4.69B |
| EBITDA Margin % | 67.54% | 64.78% | 63.75% | 69.38% | 68.77% | 63.57% | 68.09% | 67.51% | 68.2% | 60.42% | 65.33% | 65.06% | 64.51% | 58.43% | 66.52% | 61.77% | 66.25% | 57.55% | 63.99% | 63.92% |
| EBITDA Growth % | 14.11% | 19.85% | 9.69% | 19.11% | 13.45% | 22.06% | 19.88% | 21.16% | 21.39% | 16.32% | 5.85% | 8.2% | 1% | 3.4% | 10.09% | 4.91% | 10.56% | 11.8% | 17.45% | 17.56% |
| D&A (Non-Cash Add-back) | 4.32B | 4.85B | 4.09B | 3.91B | 3.9B | 4.24B | 3.78B | 3.85B | 3.76B | 3.84B | 3.66B | 3.5B | 3.55B | 4.04B | 3.74B | 3.34B | 3.24B | 3.81B | 3.03B | 2.85B |
| EBIT | 6.81B | 3B | 3.28B | 3.81B | 3.4B | 2.33B | 2.91B | 2.68B | 2.79B | 1.37B | 2.08B | 1.85B | 1.71B | 209.94M | 1.79B | 1.8B | 2.17B | 740.28M | 1.85B | 1.85B |
| Net Interest Income | 2.59B | -188.92M | -138.84M | -143.02M | -133.27M | -138.5M | -206.52M | -88.98M | -17.95M | -175.21M | -7.34M | -147.85M | -245.44M | -170.6M | 88.83M | 44.77M | 8.07M | -80.92M | -94.29M | -253.84M |
| Interest Income | 2.85B | 45.47M | 36.46M | 39.63M | 50.9M | 54.1M | 0 | 79M | 155.36M | 0 | 168.22M | 26.96M | 0 | 0 | 261.4M | 220.23M | 195.65M | 108.51M | 96.14M | 0 |
| Interest Expense | 262.08M | 234.4M | 175.29M | 182.65M | 184.17M | 192.6M | 206.52M | 167.99M | 173.31M | 175.21M | 175.56M | 174.81M | 245.44M | 170.6M | 172.57M | 175.46M | 187.58M | 189.43M | 190.43M | 253.84M |
| Other Income/Expense | 2.59B | -188.92M | -138.84M | -143.02M | -133.27M | -138.5M | -206.52M | -88.98M | -17.95M | -347.96M | -7.34M | -147.85M | -245.44M | -510.57M | 88.83M | 44.77M | 8.07M | -80.92M | -94.29M | -253.84M |
| Pretax Income | 6.55B | 2.77B | 3.11B | 3.63B | 3.21B | 2.13B | 2.7B | 2.51B | 2.61B | 1.15B | 1.91B | 1.68B | 1.47B | 39.34M | 1.62B | 1.62B | 1.98B | 550.85M | 1.66B | 1.59B |
| Pretax Margin % | 53.45% | 22.97% | 27.01% | 32.78% | 30.48% | 20.83% | 27.51% | 26.3% | 27.9% | 13% | 22.35% | 20.51% | 18% | 0.5% | 20.46% | 20.36% | 25.16% | 7.15% | 22.2% | 21.71% |
| Income Tax | 1.26B | 349.22M | 562.49M | 506.26M | 323.38M | 265.66M | 339.44M | 366.55M | 282.37M | 210.31M | 231.63M | 191.72M | 163.75M | -15.95M | 223.6M | 182.1M | 382.25M | -56.58M | 211.89M | 240.78M |
| Effective Tax Rate % | 19.31% | 12.62% | 18.09% | 13.94% | 10.06% | 12.45% | 12.56% | 14.58% | 10.8% | 18.32% | 12.13% | 11.42% | 11.15% | -40.54% | 13.79% | 11.22% | 19.31% | -10.27% | 12.76% | 15.11% |
| Net Income | 5.28B | 2.42B | 2.55B | 3.13B | 2.89B | 1.87B | 2.36B | 2.15B | 2.33B | 937.84M | 1.68B | 1.49B | 1.31B | 55.28M | 1.4B | 1.44B | 1.6B | 607.43M | 1.45B | 1.35B |
| Net Margin % | 43.13% | 20.07% | 22.13% | 28.21% | 27.42% | 18.24% | 24.06% | 22.46% | 24.89% | 10.62% | 19.64% | 18.17% | 15.99% | 0.7% | 17.64% | 18.08% | 20.3% | 7.88% | 19.36% | 18.43% |
| Net Income Growth % | 82.77% | 29.43% | 7.76% | 45.55% | 23.93% | 99.25% | 40.9% | 44.35% | 78.7% | 1596.4% | 19.97% | 3.24% | -18.3% | -90.9% | -3.51% | 6.5% | -6.4% | 12.04% | 83.43% | 87.87% |
| Net Income (Continuing) | 5.28B | 2.42B | 2.55B | 3.13B | 2.89B | 1.87B | 2.36B | 2.15B | 2.33B | 937.84M | 1.68B | 1.49B | 1.31B | 55.28M | 1.4B | 1.44B | 1.6B | 607.43M | 1.45B | 1.35B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.23 | 0.56 | 0.59 | 0.72 | 0.66 | 0.43 | 0.54 | 0.49 | 0.53 | 0.21 | 0.37 | 0.33 | 0.29 | 0.01 | 0.31 | 0.32 | 0.35 | 0.13 | 0.32 | 0.30 |
| EPS Growth % | 86.36% | 30.23% | 9.26% | 46.94% | 24.53% | 103.79% | 44.77% | 48.94% | 84.03% | 1658.33% | 20.32% | 2.81% | -18.41% | -90.98% | -2.82% | 7.74% | -5.87% | 11.76% | 83.33% | 86.79% |
| EPS (Basic) | 1.25 | 0.57 | 0.60 | 0.74 | 0.68 | 0.44 | 0.55 | 0.50 | 0.54 | 0.22 | 0.38 | 0.34 | 0.29 | 0.01 | 0.31 | 0.32 | 0.36 | 0.14 | 0.33 | 0.31 |
| Diluted Shares Outstanding | 4.3B | 4.32B | 4.34B | 4.35B | 4.37B | 4.38B | 4.38B | 4.4B | 4.42B | 4.49B | 4.5B | 4.52B | 4.52B | 4.52B | 4.5B | 4.5B | 4.53B | 4.56B | 4.55B | 4.55B |
| Basic Shares Outstanding | 4.22B | 4.23B | 4.24B | 4.25B | 4.27B | 4.28B | 4.28B | 4.3B | 4.32B | 4.42B | 4.42B | 4.44B | 4.45B | 4.45B | 4.45B | 4.45B | 4.44B | 4.43B | 4.43B | 4.43B |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |