Published
{
"ticker": "NFLX",
"cik": "0001065280",
"company": "Netflix Inc.",
"business_type": "media_streaming",
"schema_template": "standard (revenue / cost of revenues / operating income / net income / diluted EPS; balance sheet cash, debt, assets, equity; cash flow with content spend, capital expenditures and free cash flow)",
"reporting_currency": "USD",
"converted_to_usd": false,
"units": "actual dollars (not thousands or millions); per-share amounts in dollars per share; share counts in actual shares",
"units_notes_seen": {
"FY2025 10-K consolidated statements of operations": "(in thousands, except per share data)",
"FY2025 10-K consolidated statements of cash flows": "(in thousands)",
"FY2025 10-K consolidated balance sheets": "(in thousands, except share and per share data)",
"FY2025 10-K revenue-by-region table (Note 2, Revenue Recognition)": "(in thousands)",
"Q2 2026 10-Q consolidated statements of operations": "(unaudited) (in thousands, except per share data)",
"Q2 2026 10-Q consolidated statements of cash flows": "(unaudited) (in thousands)",
"Q2 2026 10-Q consolidated balance sheets": "(in thousands, except share and par value data)",
"Q2 2026 10-Q revenue-by-region table (Note 2, Revenue Recognition)": "(in thousands)"
},
"adjustments": {
"splits_applied": [
{
"split": "10-for-1 forward stock split",
"effective_date": "2025-11-14",
"adjustment_made": "None. Both the FY2025 10-K and the June 2026 10-Q state that share and per-share amounts for all periods presented have already been retroactively adjusted for the split, so every per-share figure and share count reported here is on the post-split basis as printed."
}
],
"adr_ratio": null,
"fx": "None. Netflix reports in U.S. dollars, so no currency translation was applied.",
"adr": "Not applicable. Netflix is a U.S. domestic filer with common stock listed on Nasdaq, not an ADR."
},
"annual": [
{
"fiscal_year": 2025,
"fiscal_period": "FY",
"label": "FY2025",
"period_start": "2025-01-01",
"period_end": "2025-12-31",
"period_type": "fiscal year",
"span_days": 364,
"source_accession": "0001065280-26-000034",
"income_statement": {
"revenue": 45183036000,
"cost_of_revenue": 23275329000,
"gross_profit": 21907707000,
"sales_and_marketing": 3301306000,
"technology_and_development": 3391390000,
"general_and_administrative": 1888408000,
"operating_income": 13326603000,
"interest_expense": -776510000,
"interest_and_other_income_expense": 172459000,
"income_before_income_taxes": 12722552000,
"provision_for_income_taxes": -1741351000,
"net_income": 10981201000,
"basic_eps": 2.58,
"diluted_eps": 2.53,
"basic_shares": 4249512000,
"diluted_shares": 4343863000
},
"revenue_by_region": {
"united_states_and_canada": 19957152000,
"europe_middle_east_and_africa": 14514646000,
"latin_america": 5357521000,
"asia_pacific": 5353717000,
"total_streaming_revenues": 45183036000
},
"balance_sheet": {
"cash_and_cash_equivalents": 9033681000,
"short_term_investments": 28678000,
"content_assets_net": 32778392000,
"total_assets": 55596993000,
"short_term_debt": 998865000,
"long_term_debt": 13463971000,
"total_debt": 14462836000,
"total_liabilities": 28981505000,
"total_equity": 26615488000
},
"cash_flow": {
"operating_cash_flow": 10149273000,
"capex": -688220000,
"free_cash_flow": 9461053000,
"additions_to_content_assets": -17096617000,
"amortization_of_content_assets": 16422166000,
"share_repurchases": -9127167000,
"dividends_paid": 0
}
},
{
"fiscal_year": 2024,
"fiscal_period": "FY",
"label": "FY2024",
"period_start": "2024-01-01",
"period_end": "2024-12-31",
"period_type": "fiscal year",
"span_days": 365,
"source_accession": "0001065280-26-000034",
"income_statement": {
"revenue": 39000966000,
"cost_of_revenue": 21038464000,
"gross_profit": 17962502000,
"sales_and_marketing": 2917554000,
"technology_and_development": 2925295000,
"general_and_administrative": 1702039000,
"operating_income": 10417614000,
"interest_expense": -718733000,
"interest_and_other_income_expense": 266776000,
"income_before_income_taxes": 9965657000,
"provision_for_income_taxes": -1254026000,
"net_income": 8711631000,
"basic_eps": 2.03,
"diluted_eps": 1.98,
"basic_shares": 4295191000,
"diluted_shares": 4392608000
},
"revenue_by_region": {
"united_states_and_canada": 17359369000,
"europe_middle_east_and_africa": 12387035000,
"latin_america": 4839816000,
"asia_pacific": 4414746000,
"total_streaming_revenues": 39000966000
},
"balance_sheet": {
"cash_and_cash_equivalents": 7804733000,
"short_term_investments": 1779006000,
"content_assets_net": 32452462000,
"total_assets": 53630374000,
"short_term_debt": 1784453000,
"long_term_debt": 13798351000,
"total_debt": 15582804000,
"total_liabilities": 28886807000,
"total_equity": 24743567000
},
"cash_flow": {
"operating_cash_flow": 7361364000,
"capex": -439538000,
"free_cash_flow": 6921826000,
"additions_to_content_assets": -16223617000,
"amortization_of_content_assets": 15301517000,
"share_repurchases": -6263746000,
"dividends_paid": 0
}
},
{
"fiscal_year": 2023,
"fiscal_period": "FY",
"label": "FY2023",
"period_start": "2023-01-01",
"period_end": "2023-12-31",
"period_type": "fiscal year",
"span_days": 364,
"source_accession": "0001065280-26-000034",
"income_statement": {
"revenue": 33723297000,
"cost_of_revenue": 19715368000,
"gross_profit": 14007929000,
"sales_and_marketing": 2657883000,
"technology_and_development": 2675758000,
"general_and_administrative": 1720285000,
"operating_income": 6954003000,
"interest_expense": -699826000,
"interest_and_other_income_expense": -48772000,
"income_before_income_taxes": 6205405000,
"provision_for_income_taxes": -797415000,
"net_income": 5407990000,
"basic_eps": 1.22,
"diluted_eps": 1.2,
"basic_shares": 4415712000,
"diluted_shares": 4494966000
},
"revenue_by_region": {
"united_states_and_canada": 14873783000,
"europe_middle_east_and_africa": 10556487000,
"latin_america": 4446461000,
"asia_pacific": 3763727000,
"total_streaming_revenues": 33640458000
},
"cash_flow": {
"operating_cash_flow": 7274301000,
"capex": -348552000,
"free_cash_flow": 6925749000,
"additions_to_content_assets": -12554703000,
"amortization_of_content_assets": 14197437000,
"share_repurchases": -6045347000,
"dividends_paid": 0
}
}
],
"quarterly": [
{
"fiscal_year": 2026,
"fiscal_period": "Q2",
"label": "Q2 2026",
"period_start": "2026-04-01",
"period_end": "2026-06-30",
"period_type": "three months",
"span_days": 90,
"source_accession": "0001065280-26-000212",
"income_statement": {
"revenue": 12559938000,
"cost_of_revenue": 6036965000,
"gross_profit": 6522973000,
"sales_and_marketing": 823838000,
"technology_and_development": 1007675000,
"general_and_administrative": 498850000,
"operating_income": 4192610000,
"interest_expense": -175685000,
"interest_and_other_income_expense": 51661000,
"income_before_income_taxes": 4068586000,
"provision_for_income_taxes": -667172000,
"net_income": 3401414000,
"basic_eps": 0.81,
"diluted_eps": 0.8,
"basic_shares": 4189303000,
"diluted_shares": 4261300000
},
"revenue_by_region": {
"united_states_and_canada": 5431667000,
"europe_middle_east_and_africa": 4033515000,
"latin_america": 1584290000,
"asia_pacific": 1510466000,
"total_streaming_revenues": 12559938000
},
"balance_sheet": {
"cash_and_cash_equivalents": 9099232000,
"short_term_investments": 28678000,
"content_assets_net": 33837573000,
"total_assets": 58450441000,
"short_term_debt": 2483758000,
"long_term_debt": 11825548000,
"total_debt": 14309306000,
"total_liabilities": 28298389000,
"total_equity": 30152052000
},
"cash_flow": {
"operating_cash_flow": 1743812000,
"capex": -218644000,
"free_cash_flow": 1525168000,
"additions_to_content_assets": -4927523000,
"amortization_of_content_assets": 4311309000,
"share_repurchases": -4714403000,
"dividends_paid": 0
}
},
{
"fiscal_year": 2025,
"fiscal_period": "Q2",
"label": "Q2 2025",
"period_start": "2025-04-01",
"period_end": "2025-06-30",
"period_type": "three months",
"span_days": 90,
"source_accession": "0001065280-26-000212",
"income_statement": {
"revenue": 11079166000,
"cost_of_revenue": 5325311000,
"gross_profit": 5753855000,
"sales_and_marketing": 713265000,
"technology_and_development": 824683000,
"general_and_administrative": 441213000,
"operating_income": 3774694000,
"interest_expense": -182649000,
"interest_and_other_income_expense": 39630000,
"income_before_income_taxes": 3631675000,
"provision_for_income_taxes": -506262000,
"net_income": 3125413000,
"basic_eps": 0.74,
"diluted_eps": 0.72,
"basic_shares": 4252112000,
"diluted_shares": 4348825000
},
"revenue_by_region": {
"united_states_and_canada": 4929003000,
"europe_middle_east_and_africa": 3538175000,
"latin_america": 1306735000,
"asia_pacific": 1305253000,
"total_streaming_revenues": 11079166000
},
"cash_flow": {
"operating_cash_flow": 2423258000,
"capex": -155889000,
"free_cash_flow": 2267369000,
"additions_to_content_assets": -3835813000,
"amortization_of_content_assets": 3832074000,
"share_repurchases": -1654327000,
"dividends_paid": 0
}
}
],
"notes": [
"All figures are taken from the face of Netflix's FY2025 Form 10-K (accession 0001065280-26-000034, filed January 23, 2026) and its Form 10-Q for the quarter ended June 30, 2026 (accession 0001065280-26-000212, filed July 17, 2026). Netflix reports on a calendar fiscal year ending December 31.",
"Periods included are exactly those the two filings print: the 10-K's statements of operations and cash flows cover 2025, 2024 and 2023, while its balance sheet covers only December 31, 2025 and December 31, 2024, so FY2023 carries no balance sheet. The 10-Q prints discrete three-month columns for the June 2026 and June 2025 quarters, which are reported as quarters, plus six-month columns, which are reported separately under year_to_date.",
"Netflix completed a ten-for-one forward stock split on November 14, 2025. Both filings state that share and per-share amounts for all periods presented have been retroactively adjusted for the split, so every per-share figure and share count here is on the post-split basis exactly as the filings print it. No further split adjustment was applied.",
"The company does not present a gross profit subtotal. Gross profit here is revenue less cost of revenues, computed from the printed lines; margins derived from it are not a company-reported measure.",
"Cash flow items are shown with the sign the statement prints: capital expenditures (purchases of property and equipment), additions to content assets and share repurchases are negative outflows. Free cash flow is operating cash flow less purchases of property and equipment; Netflix does not present that subtotal in these filings.",
"Netflix pays no dividend. Neither filing's cash flow statement contains a dividend line, so dividends paid is zero in every period.",
"Interest expense and the provision for income taxes are stated as negative amounts because the statements of operations print them in parentheses.",
"Interest and other income for the six months ended June 30, 2026 includes a $2.8 billion termination fee received in the first quarter of 2026 in connection with the terminated agreement to acquire Warner Bros. Discovery's streaming and studios businesses. That fee falls in the March 2026 quarter, not the June 2026 quarter, so the Q2 2026 quarterly block is unaffected by it while the year-to-date and trailing-twelve-month blocks include it.",
"The regional revenue breakout carries its total under a single name, total streaming revenues, in every period here, so the series can be read straight across time. The filings caption that line two different ways: the FY2025 10-K calls it \"Total Streaming Revenues\" and the June 2026 10-Q calls it \"Total Revenues\". For FY2024, FY2025 and every 2025 and 2026 period the two captions describe the same amount, because streaming is the company's only revenue and the regional table totals to consolidated revenue exactly.",
"FY2023 is the one period where the regional total is not consolidated revenue. Total revenues of $33.72 billion exceed the regional table's total streaming revenues of $33.64 billion by $82.8 million, which is the legacy DVD-by-mail business the company wound down during 2023 and which the regional breakout excludes. Regional shares of revenue for FY2023 should therefore be measured against the streaming total, not against consolidated revenue.",
"Total debt is short-term debt plus long-term debt as presented on the balance sheet. It agrees with the debt note, which states aggregate outstanding notes of $14,309 million at June 30, 2026 and $14,463 million at December 31, 2025.",
"The trailing-twelve-month block is derived, not printed: it is FY2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025. It spans halves of two fiscal years and so carries no fiscal-year label. Its diluted earnings per share is the same combination of the printed per-share amounts and is therefore approximate, since the weighted-average share count differs across the periods combined.",
"The 10-Q's revenue-by-region table notes that total revenues include hedging losses of $48 million for the June 2026 quarter and $37 million for the June 2025 quarter; the 10-K notes hedging losses of $91 million in FY2025 and gains of $124 million in FY2024 within total streaming revenues."
],
"uncertainties": [
"The June 2025 quarter carries no balance sheet. The 10-Q's balance sheet presents only June 30, 2026 and December 31, 2025, so no assets, debt or equity are reported for that quarter; only its income statement and cash flow are.",
"FY2023 carries no balance sheet, because the FY2025 10-K's balance sheet presents only the two most recent year ends.",
"Trailing-twelve-month diluted earnings per share of $3.18 is a sum of the printed per-share amounts rather than a company-reported figure. Dividing trailing-twelve-month net income by a mid-period share count gives a slightly different result.",
"No fiscal-year 2023 or 2022 quarterly detail is available from these two filings, so no earlier quarters are reported.",
"The regional revenue total is a single named series across all periods, but it is not a single concept in FY2023: in that year it is streaming revenue only and sits $82.8 million below consolidated revenue, while in every other period it equals consolidated revenue. Comparisons of the regional total across the 2023 boundary carry that much discontinuity."
],
"year_to_date": {
"fiscal_year": 2026,
"fiscal_period": "H1",
"label": "Six months ended June 30, 2026",
"period_start": "2026-01-01",
"period_end": "2026-06-30",
"period_type": "six months",
"span_days": 180,
"source_accession": "0001065280-26-000212",
"income_statement": {
"revenue": 24809695000,
"cost_of_revenue": 11925203000,
"gross_profit": 12884492000,
"sales_and_marketing": 1666055000,
"technology_and_development": 1967371000,
"general_and_administrative": 1101459000,
"operating_income": 8149607000,
"interest_expense": -437762000,
"interest_and_other_income_expense": 2903827000,
"income_before_income_taxes": 10615672000,
"provision_for_income_taxes": -1931467000,
"net_income": 8684205000,
"basic_eps": 2.06,
"diluted_eps": 2.03,
"basic_shares": 4205952000,
"diluted_shares": 4279776000
},
"revenue_by_region": {
"united_states_and_canada": 10676965000,
"europe_middle_east_and_africa": 8031934000,
"latin_america": 3081348000,
"asia_pacific": 3019448000,
"total_streaming_revenues": 24809695000
},
"cash_flow": {
"operating_cash_flow": 7034017000,
"capex": -414774000,
"free_cash_flow": 6619243000,
"additions_to_content_assets": -9774440000,
"amortization_of_content_assets": 8529209000,
"share_repurchases": -5984991000,
"dividends_paid": 0
},
"prior_year_comparative": {
"fiscal_year": 2025,
"fiscal_period": "H1",
"label": "Six months ended June 30, 2025",
"period_start": "2025-01-01",
"period_end": "2025-06-30",
"period_type": "six months",
"span_days": 180,
"source_accession": "0001065280-26-000212",
"revenue": 21621967000,
"operating_income": 7121693000,
"net_income": 6015764000,
"diluted_eps": 1.38,
"operating_cash_flow": 5212457000,
"capex": -284166000,
"free_cash_flow": 4928291000
}
},
"trailing_twelve_months": {
"fiscal_period": "TTM",
"label": "Trailing twelve months ended June 30, 2026",
"period_start": "2025-07-01",
"period_end": "2026-06-30",
"period_type": "trailing twelve months",
"span_days": 364,
"source_accession": "0001065280-26-000034, 0001065280-26-000212",
"derivation": "FY2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025.",
"income_statement": {
"revenue": 48370764000,
"cost_of_revenue": 24612074000,
"gross_profit": 23758690000,
"sales_and_marketing": 3565726000,
"technology_and_development": 3711255000,
"general_and_administrative": 2127192000,
"operating_income": 14354517000,
"net_income": 13649642000,
"diluted_eps": 3.18
},
"cash_flow": {
"operating_cash_flow": 11970833000,
"capex": -818828000,
"free_cash_flow": 11152005000,
"additions_to_content_assets": -19485587000,
"amortization_of_content_assets": 17296189000,
"share_repurchases": -9921435000,
"dividends_paid": 0
},
"balance_sheet_as_of": "2026-06-30 (see the Q2 2026 quarterly block)"
},
"headline": {
"period": "Q2 FY2026",
"period_end_words": "June 30, 2026",
"metrics": [
{
"label": "Revenue",
"format": "usd",
"value": 12559938000,
"text": "$12.56 billion",
"exact": "$12,559,938,000",
"compact": "$12.56B",
"abs": "$12.56 billion",
"prior_value": 11079166000,
"prior": "$11.08 billion",
"priorabs": "$11.08 billion",
"yoy": "up 13.4%",
"source": {
"array": "quarterly",
"field": "income_statement.revenue",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001065280-26-000212",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001065280-26-000212",
"gap_days": 365
}
},
{
"label": "Net income",
"format": "usd",
"value": 3401414000,
"text": "$3.40 billion",
"exact": "$3,401,414,000",
"compact": "$3.40B",
"abs": "$3.40 billion",
"prior_value": 3125413000,
"prior": "$3.13 billion",
"priorabs": "$3.13 billion",
"yoy": "up 8.8%",
"source": {
"array": "quarterly",
"field": "income_statement.net_income",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001065280-26-000212",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001065280-26-000212",
"gap_days": 365
}
},
{
"label": "Diluted EPS",
"format": "eps",
"value": 0.8,
"text": "$0.80",
"exact": "$0.80",
"compact": "$0.80",
"abs": "$0.80",
"prior_value": 0.72,
"prior": "$0.72",
"priorabs": "$0.72",
"yoy": "up 11.1%",
"source": {
"array": "quarterly",
"field": "income_statement.diluted_eps",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001065280-26-000212",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001065280-26-000212",
"gap_days": 365
}
},
{
"label": "Operating income",
"format": "usd",
"value": 4192610000,
"text": "$4.19 billion",
"exact": "$4,192,610,000",
"compact": "$4.19B",
"abs": "$4.19 billion",
"prior_value": 3774694000,
"prior": "$3.77 billion",
"priorabs": "$3.77 billion",
"yoy": "up 11.1%",
"source": {
"array": "quarterly",
"field": "income_statement.operating_income",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001065280-26-000212",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001065280-26-000212",
"gap_days": 365
}
},
{
"label": "Free cash flow",
"format": "usd",
"value": 1525168000,
"text": "$1.53 billion",
"exact": "$1,525,168,000",
"compact": "$1.53B",
"abs": "$1.53 billion",
"prior_value": 2267369000,
"prior": "$2.27 billion",
"priorabs": "$2.27 billion",
"yoy": "down 32.7%",
"source": {
"array": "quarterly",
"field": "cash_flow.free_cash_flow",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001065280-26-000212",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001065280-26-000212",
"gap_days": 365
}
}
],
"summary": "Netflix reported $12.56 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, up 13.4% from a year earlier, and net income of $3.40 billion, up 8.8%. Diluted earnings per share were $0.80 and operating income was $4.19 billion, up 11.1%, with operating income growing more slowly than revenue as technology and development and marketing costs outpaced the top line, and net income growing more slowly still on a higher effective tax rate. Free cash flow was $1.53 billion, down 32.7% on heavier content payments, and the termination fee Netflix received when Warner Bros. Discovery ended their acquisition agreement was recorded in the March 2026 quarter rather than in these results.",
"qa": [
{
"q": "How much revenue did Netflix report in Q2 FY2026?",
"a": "Netflix reported $12.56 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026. That is up 13.4% from $11.08 billion in the same quarter a year earlier, with all four of the company's reporting regions growing."
},
{
"q": "What was Netflix's earnings per share in Q2 FY2026?",
"a": "Netflix reported diluted earnings per share of $0.80 for Q2 FY2026, up 11.1% from $0.72 a year earlier. Per-share figures reflect the ten-for-one forward stock split Netflix completed in November 2025, which the company applied retroactively to every period it presents."
},
{
"q": "Did the Warner Bros. Discovery termination fee boost Netflix's Q2 FY2026 profit?",
"a": "No. Netflix recorded the termination fee from the abandoned Warner Bros. Discovery transaction in the March 2026 quarter, so it is not in the June quarter results. Netflix's Q2 FY2026 net income of $3.40 billion and operating income of $4.19 billion reflect the streaming business, where operating income was up 11.1% against revenue up 13.4%."
},
{
"q": "How much free cash flow did Netflix generate in Q2 FY2026?",
"a": "Netflix generated $1.53 billion of free cash flow in Q2 FY2026, down 32.7% from $2.27 billion a year earlier, as cash payments for content rose faster than operating profit. Free cash flow here is operating cash flow less purchases of property and equipment, a subtotal Netflix does not present in its Form 10-Q, though the company does guide to a full-year free cash flow figure in its quarterly results release."
}
]
},
"company_details": {
"Name": "Netflix Inc",
"Ticker": "NFLX",
"CIK": "0001065280",
"Exchange": "Nasdaq",
"State": "California",
"Incorporation": "Delaware",
"SIC": "7841",
"Office": "Trade & Services",
"Industry": "Services-Video Tape Rental"
},
"next_filing": {
"predicted_date": "2026-10-23",
"predicted_type": "10-Q"
},
"fiscal_period": {
"fiscal_year": 2026,
"fiscal_period": "Q2",
"tag": "FY26Q2",
"period_end": "2026-06-30",
"form": "10-Q",
"accession": "0001065280-26-000212",
"fiscal_year_end": "1231",
"source": "facts"
}
}