Netflix Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	10,981	8,712	5,408	4,492	5,116
Depreciation & Amortization	333.39	328.91	356.95	336.68	208.41
Other Amortization	16,422	15,302	14,197	14,026	12,230
Stock-Based Compensation	368.45	272.59	339.37	575.45	403.22
Other Operating Activities	-17,500	-17,220	-12,911	-16,646	-17,324
Change in Accounts Payable	-8.04	121.35	93.5	-158.54	145.12
Change in Unearned Revenue	254.92	77.84	178.71	27.36	91.35
Change in Other Net Operating Assets	-703.1	-232.27	-388.36	-626.9	-478.44
Operating Cash Flow	10,149	7,361	7,274	2,026	392.61
Operating Cash Flow Growth	37.87%	1.20%	259.00%	416.10%	-83.82%
Capital Expenditures	-688.22	-439.54	-348.55	-407.73	-524.59
Cash Acquisitions	-17.19	-	-	-757.39	-788.35
Investment in Securities	1,747	-1,742	890.3	-911.28	-
Other Investing Activities	-	-	-	-	-26.92
Investing Cash Flow	1,042	-2,182	541.75	-2,076	-1,340
Long-Term Debt Issued	-	1,794	-	-	-
Long-Term Debt Repaid	-1,833	-400	-	-700	-500
Net Debt Issued (Repaid)	-1,833	1,394	-	-700	-500
Issuance of Common Stock	666.97	832.89	169.99	35.75	174.41
Repurchase of Common Stock	-9,173	-6,272	-6,045	-	-824.19
Other Financing Activities	-5.81	-29.74	-75.45	-	-
Financing Cash Flow	-10,346	-4,074	-5,951	-664.25	-1,150
Foreign Exchange Rate Adjustments	386.52	-416.33	82.68	-170.14	-86.74
Net Cash Flow	1,232	688.82	1,948	-884.53	-2,184
Free Cash Flow	9,461	6,922	6,926	1,619	-131.98
Free Cash Flow Growth	36.68%	-0.06%	327.90%	-	-
Free Cash Flow Margin	20.94%	17.75%	20.54%	5.12%	-0.44%
Free Cash Flow Per Share	2.18	1.58	1.54	0.36	-0.03
Cash Interest Paid	718.61	674.5	684.5	701.69	763.43
Cash Income Tax Paid	2,220	1,642	1,155	811.72	509.27
Levered Free Cash Flow	24,818	21,254	19,384	16,545	15,649
Unlevered Free Cash Flow	25,303	21,703	19,822	16,986	16,127
Change in Working Capital	-456.22	-33.08	-116.15	-758.09	-241.98

Source: S&P Global Market Intelligence. Standard template. Financial Sources.