Netflix Income 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
Revenue	45,183	39,001	33,723	31,616	29,698
Revenue Growth (YoY)	15.85%	15.65%	6.67%	6.46%	18.81%
Cost of Revenue	23,275	21,038	19,715	19,168	17,333
Gross Profit	21,908	17,963	14,008	12,447	12,365
Selling, General & Admin	5,190	4,620	4,378	4,103	3,897
Research & Development	3,391	2,925	2,676	2,711	2,274
Operating Expenses	8,581	7,545	7,054	6,814	6,171
Operating Income	13,327	10,418	6,954	5,633	6,195
Interest Expense	-776.51	-718.73	-699.83	-706.21	-765.62
Interest & Investment Income	295	294	281	60	8.21
Currency Exchange Gain (Loss)	-123	-18	-293	282	403
Other Non Operating Income (Expenses)	0.46	-9.22	-36.77	-4.69	-
Pretax Income	12,723	9,966	6,205	5,264	5,840
Income Tax Expense	1,741	1,254	797.42	772.01	723.88
Net Income	10,981	8,712	5,408	4,492	5,116
Net Income to Common	10,981	8,712	5,408	4,492	5,116
Net Income Growth	26.05%	61.09%	20.39%	-12.20%	85.28%
Shares Outstanding (Basic)	4,250	4,295	4,416	4,447	4,432
Shares Outstanding (Diluted)	4,344	4,393	4,495	4,513	4,554
Shares Change (YoY)	-1.11%	-2.28%	-0.40%	-0.90%	0.26%
EPS (Basic)	2.58	2.03	1.22	1.01	1.15
EPS (Diluted)	2.53	1.98	1.20	0.99	1.12
EPS Growth	27.78%	65.00%	20.60%	-11.48%	84.87%
Free Cash Flow	9,461	6,922	6,926	1,619	-131.98
Free Cash Flow Per Share	2.18	1.58	1.54	0.36	-0.03
Gross Margin	48.49%	46.06%	41.54%	39.37%	41.64%
Operating Margin	29.49%	26.71%	20.62%	17.82%	20.86%
Profit Margin	24.30%	22.34%	16.04%	14.21%	17.23%
Free Cash Flow Margin	20.94%	17.75%	20.54%	5.12%	-0.44%
EBITDA	13,660	10,747	7,311	5,970	6,403
EBITDA Margin	30.23%	27.56%	21.68%	18.88%	21.56%
D&A For EBITDA	333.39	328.91	356.95	336.68	208.41
EBIT	13,327	10,418	6,954	5,633	6,195
EBIT Margin	29.49%	26.71%	20.62%	17.82%	20.86%
Effective Tax Rate	13.69%	12.58%	12.85%	14.67%	12.39%
Advertising Expenses	2,001	1,779	1,732	1,586	1,669

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.