Netflix Inc. (NFLX) financial statements: income statement, balance sheet and cash flow
Netflix Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Netflix Inc. reported revenue of $45.2B (+15.9% year on year) and net income of $11.0B (+26.1% year on year).
Income statement
Netflix Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues
$45.2B
$39.0B
$33.7B
$31.6B
Cost of revenues
$23.3B
$21.0B
$19.7B
$19.2B
Sales and marketing
$3.3B
$2.9B
—
—
Technology and development
$3.4B
$2.9B
$2.7B
$2.7B
General and administrative
$1.9B
$1.7B
$1.7B
$1.6B
Operating income
$13.3B
$10.4B
$7.0B
$5.6B
Interest expense
($776.5M)
($718.7M)
($699.8M)
($706.2M)
Interest and other income (expense)
$172.5M
$266.8M
($48.8M)
$337.3M
Income before income taxes
$12.7B
$10.0B
$6.2B
$5.3B
Provision for income taxes
($1.7B)
($1.3B)
($797.4M)
($772.0M)
Net income
$11.0B
$8.7B
$5.4B
$4.5B
Basic (in USD per share)
$2.58
$20.28
$12.25
$10.10
Diluted (in USD per share)
$2.53
$19.83
$12.03
$9.95
Basic (in shares)
4.2B
429.5M
441.6M
444.7M
Diluted (in shares)
4.3B
439.3M
449.5M
451.3M
Netflix Inc. income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Revenues
$12.9B
$12.6B
$12.2B
$11.5B
Cost of revenues
$6.1B
$6.0B
$5.9B
$6.2B
Sales and marketing
$837.1M
$823.8M
$842.2M
$786.3M
Technology and development
$1.0B
$1.0B
$959.7M
$853.6M
General and administrative
$466.4M
$498.9M
$602.6M
$457.9M
Operating income
$4.5B
$4.2B
$4.0B
$3.2B
Interest expense
($184.7M)
($175.7M)
($262.1M)
($175.3M)
Interest and other income (expense)
$43.0M
$51.7M
$2.9B
$36.5M
Income before income taxes
$4.3B
$4.1B
$6.5B
$3.1B
Provision for income taxes
($653.0M)
($667.2M)
($1.3B)
($562.5M)
Net income
$3.7B
$3.4B
$5.3B
$2.5B
Basic (in USD per share)
$0.89
$0.81
$1.25
$6.00
Diluted (in USD per share)
$0.87
$0.80
$1.23
$5.87
Basic (in shares)
4.1B
4.2B
4.2B
424.5M
Diluted (in shares)
4.2B
4.3B
4.3B
434.0M
Balance sheet
Netflix Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$9.0B
$7.8B
$7.1B
$5.1B
Short-term investments
$28.7M
$1.8B
$21.0M
$911.3M
Other current assets
$4.0B
$3.5B
$2.8B
$3.2B
Total current assets
$13.0B
$13.1B
$9.9B
$9.3B
Content assets, net
$32.8B
$32.5B
$31.7B
$32.7B
Property and equipment, net
$2.0B
$1.6B
$1.5B
$1.4B
Other non-current assets
$7.8B
$6.5B
$5.7B
$5.2B
Total assets
$55.6B
$53.6B
$48.7B
$48.6B
Current content liabilities
$4.1B
$4.4B
$4.5B
$4.5B
Accounts payable
$900.6M
$899.9M
$747.4M
$671.5M
Accrued expenses and other liabilities
$3.2B
$2.2B
$1.8B
$1.5B
Deferred revenue
$1.8B
$1.5B
$1.4B
$1.3B
Short-term debt
$998.9M
$1.8B
$399.8M
$0
Total current liabilities
$11.0B
$10.8B
$8.9B
$7.9B
Non-current content liabilities
$1.6B
$1.8B
$2.6B
$3.1B
Long-term debt
$13.5B
$13.8B
$14.1B
$14.4B
Other non-current liabilities
$3.0B
$2.6B
$2.6B
$2.5B
Total liabilities
$29.0B
$28.9B
$28.1B
$27.8B
Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2025 and December 31, 2024; no shares issued and outstanding at December 31, 2025 and December 31, 2024
0
0
0
0
Common stock, $0.001 par value; 49,900,000,000 shares authorized at December 31, 2025 and December 31, 2024; 4,222,162,150 and 4,277,571,000 issued and outstanding at December 31, 2025 and December 31, 2024, respectively
7.3B
6.3B
5.1B
4.6B
Treasury stock at cost (346,541,145 and 259,534,600 shares at December 31, 2025 and December 31, 2024)
-22.4B
-13.2B
-6.9B
-824.2M
Accumulated other comprehensive income (loss)
($580.4M)
$362.2M
($223.9M)
($217.3M)
Retained earnings
$42.3B
$31.3B
$22.6B
$17.2B
Total stockholders’ equity
$26.6B
$24.7B
$20.6B
$20.8B
Total liabilities and stockholders’ equity
$55.6B
$53.6B
$48.7B
$48.6B
Netflix Inc. balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$8.2B
$9.1B
$12.3B
$9.3B
Short-term investments
$28.7M
$28.7M
$28.7M
$37.1M
Other current assets
$5.0B
$4.7B
$4.8B
$3.6B
Total current assets
$13.2B
$13.9B
$17.1B
$13.0B
Content assets, net
$34.6B
$33.8B
$33.4B
$32.6B
Property and equipment, net
$2.6B
$2.4B
$2.1B
$1.8B
Other non-current assets
$8.3B
$8.4B
$8.4B
$7.5B
Total assets
$58.7B
$58.5B
$61.0B
$54.9B
Current content liabilities
$3.9B
$3.9B
$4.1B
$4.1B
Accounts payable
$860.1M
$814.6M
$894.7M
$793.2M
Accrued expenses and other liabilities
$3.3B
$3.2B
$4.4B
$3.1B
Deferred revenue
$1.8B
$1.8B
$1.7B
$1.7B
Short-term debt
$2.5B
$2.5B
$999.2M
$0
Total current liabilities
$12.3B
$12.1B
$12.1B
$9.7B
Non-current content liabilities
$1.7B
$1.6B
$1.6B
$1.6B
Long-term debt
$12.7B
$11.8B
$13.4B
$14.5B
Other non-current liabilities
$2.7B
$2.7B
$2.8B
$3.2B
Total liabilities
$29.4B
$28.3B
$29.9B
$29.0B
Common stock, $0.001 par value; 49,900,000,000 shares authorized at September 30, 2026 and December 31, 2025; 4,106,325,903 and 4,222,162,150 issued and outstanding at September 30, 2026 and December 31, 2025, respectively
7.9B
7.7B
7.5B
7.1B
Treasury stock at cost (477,363,677 and 346,541,145 shares at September 30, 2026 and December 31, 2025, respectively)
-33.2B
-28.4B
-23.7B
-20.3B
Accumulated other comprehensive loss
($9.5M)
($97.1M)
($235.0M)
($719.3M)
Retained earnings
$54.6B
$51.0B
$47.6B
$39.9B
Total stockholders’ equity
$29.3B
$30.2B
$31.1B
$26.0B
Total liabilities and stockholders’ equity
$58.7B
$58.5B
$61.0B
$54.9B
Cash flow statement
Netflix Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$11.0B
$8.7B
$5.4B
$4.5B
Additions to content assets
($17.1B)
($16.2B)
($12.6B)
($16.8B)
Change in content liabilities
($610.8M)
($779.1M)
($585.6M)
$179.3M
Amortization of content assets
$16.4B
$15.3B
$14.2B
$14.0B
Depreciation and amortization of property, equipment and intangibles
$333.4M
$328.9M
$356.9M
$336.7M
Stock-based compensation expense
$368.4M
$272.6M
$339.4M
$575.5M
Foreign currency remeasurement loss (gain) on debt
$72.3M
($121.5M)
$176.3M
($353.1M)
Other non-cash items
$577.5M
$494.8M
$512.1M
$533.5M
Deferred income taxes
($442.1M)
($590.7M)
($459.4M)
($166.6M)
Other current assets
($790.7M)
$22.2M
($181.0M)
($353.8M)
Accounts payable
($8.0M)
$121.4M
$93.5M
($158.5M)
Accrued expenses and other liabilities
$881.2M
$191.9M
$103.6M
($55.5M)
Deferred revenue
$254.9M
$77.8M
$178.7M
$27.4M
Other non-current assets and liabilities
($793.7M)
($446.4M)
($310.9M)
($217.6M)
Net cash provided by operating activities
$10.1B
$7.4B
$7.3B
$2.0B
Purchases of property and equipment
($688.2M)
($439.5M)
($348.6M)
($407.7M)
Acquisitions
($17.2M)
$0
$0
($757.4M)
Purchases of investments
($170.0M)
($1.7B)
—
—
Proceeds from maturities and sales of investments
$1.9B
$0
—
—
Net cash provided by (used in) investing activities
$1.0B
($2.2B)
$541.8M
($2.1B)
Proceeds from issuance of debt
$0
$1.8B
—
$0
Repayments of debt
($1.8B)
($400.0M)
$0
($700.0M)
Proceeds from issuance of common stock
$667.0M
$832.9M
$170.0M
$35.7M
Repurchases of common stock
($9.1B)
($6.3B)
($6.0B)
$0
Taxes paid related to net share settlement of equity awards
($46.2M)
($8.3M)
$0
—
Other financing activities
($5.8M)
($29.7M)
($75.4M)
$0
Net cash used in financing activities
($10.3B)
($4.1B)
($6.0B)
($664.3M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
$386.5M
($416.3M)
$82.7M
($170.1M)
Net increase in cash, cash equivalents and restricted cash
$1.2B
$688.8M
$1.9B
($884.5M)
Cash, cash equivalents and restricted cash, beginning of year
$7.8B
$7.1B
$5.2B
$6.1B
Cash, cash equivalents and restricted cash, end of year
$9.0B
$7.8B
$7.1B
$5.2B
Interest paid
$718.6M
$674.5M
$684.5M
$701.7M
Netflix Inc. cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net income
$12.3B
$8.7B
$5.3B
$8.6B
Additions to content assets
($14.9B)
($9.8B)
($4.8B)
($12.0B)
Change in content liabilities
($43.1M)
($136.6M)
$45.2M
($601.0M)
Amortization of content assets
$12.8B
$8.5B
$4.2B
$11.7B
Depreciation and amortization of property, equipment and intangibles
$306.2M
$199.1M
$98.6M
$247.4M
Stock-based compensation expense
$405.4M
$271.7M
$140.4M
$233.8M
Foreign currency remeasurement loss (gain) on debt
($28.1M)
($18.9M)
($10.1M)
$82.1M
Other non-cash items
$459.3M
$339.6M
$198.2M
$377.2M
Deferred income taxes
$322.1M
$140.1M
$58.8M
($279.1M)
Other current assets
($729.3M)
($592.9M)
($704.6M)
($477.6M)
Accounts payable
($111.0M)
($157.2M)
$154.0K
($125.9M)
Accrued expenses and other liabilities
$131.6M
$46.1M
$1.3B
$746.3M
Deferred revenue
$3.9M
$21.7M
($32.3M)
$203.9M
Other non-current assets and liabilities
($699.4M)
($517.6M)
($453.8M)
($550.5M)
Net cash provided by operating activities
$10.2B
$7.0B
$5.3B
$8.0B
Purchases of property and equipment
($693.5M)
($414.8M)
($196.1M)
($448.9M)
Acquisitions
($585.7M)
($585.7M)
($585.7M)
—
Purchases of investments
($52.5M)
$0
$0
($161.5M)
Proceeds from maturities and sales of investments
$0
$0
$0
$1.9B
Other investing activities
$0
$0
—
$0
Net cash provided by (used in) investing activities
($1.3B)
($1.0B)
($781.9M)
$1.3B
Proceeds from issuance of debt
$992.5M
—
—
$0
Repayments of debt
$0
$0
$0
($1.8B)
Proceeds from issuance of common stock
$184.0M
$109.3M
$49.3M
$590.9M
Repurchases of common stock
($10.8B)
($6.0B)
($1.3B)
($7.0B)
Taxes paid related to net share settlement of equity awards
($41.0M)
($35.9M)
($29.2M)
($40.2M)
Other financing activities
($9.2M)
$11.1M
$19.7M
$62.1M
Net cash used in financing activities
($9.7B)
($5.9B)
($1.2B)
($8.3B)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
($50.5M)
($69.5M)
($49.8M)
$415.9M
Net increase (decrease) in cash, cash equivalents and restricted cash
($841.4M)
$63.6M
$3.2B
$1.5B
Cash, cash equivalents and restricted cash at beginning of period
$9.0B
$9.0B
$9.0B
$7.8B
Cash, cash equivalents and restricted cash at end of period