Netflix, Inc.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 29.70B | 31.62B | 33.72B | 39.00B | 45.18B | 15.9% | |
| Cost of Revenue | (17.33B) | (19.17B) | (19.72B) | (21.04B) | (23.28B) | 10.6% | |
Gross Profit | 12.37B | 12.45B | 14.01B | 17.96B | 21.91B | 22.0% | |
| Operating Expenses | |||||||
| Research & Development | (2.27B) | (2.71B) | (2.68B) | (2.93B) | (3.39B) | 15.9% | |
| Selling, General & Administrative | (3.90B) | (4.10B) | (4.38B) | (4.62B) | (5.19B) | 12.3% | |
| General & Administrative | (1.35B) | (1.57B) | (1.72B) | (1.70B) | (1.89B) | 10.9% | |
| Selling & Marketing | (2.55B) | (2.53B) | (2.66B) | (2.92B) | (3.30B) | 13.2% | |
| Depreciation & Amortization | (12.44B) | (14.36B) | (14.55B) | (15.63B) | (16.76B) | 7.2% | |
Operating Income (EBIT) | 6.19B | 5.63B | 6.95B | 10.42B | 13.33B | 27.9% | |
| Non-Operating Items | |||||||
| Interest Income | 411.21M | 337.31M | — | 266.78M | 172.46M | -35.4% | |
| Interest Expense | (765.62M) | (706.21M) | (748.60M) | (718.73M) | (776.51M) | 8.0% | |
| Other Income/Expenses (Net) | -354.41M | -368.90M | -748.60M | -451.96M | -604.05M | 33.7% | |
Income Before Tax | 5.84B | 5.26B | 6.21B | 9.97B | 12.72B | 27.7% | |
| Income Tax Expense | (723.88M) | (772.00M) | (797.41M) | (1.25B) | (1.74B) | 38.9% | |
Net Income | 5.12B | 4.49B | 5.41B | 8.71B | 10.98B | 26.1% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $1 | $1 | $1 | $2 | $3 | 27.1% | |
| Weighted Avg Shares Outstanding | 4.43B | 4.45B | 4.42B | 4.30B | 4.23B | -1.5% | |
| Weighted Avg Shares Outstanding (Diluted) | 4.55B | 4.51B | 4.49B | 4.39B | 4.32B | -1.7% | |
EBITDA | 19.04B | 20.33B | 21.51B | 26.31B | 30.25B | 15.0% |
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