NETFLIX INC

10-K & 10-Q Filings

Netflix, Inc. is a leading entertainment service provider with over 260 million paid memberships in over 190 countries. The company offers TV series, films, and games that members can watch anytime, anywhere, and can change their plans at any time. Netflix's core strategy is to grow its business globally while continuously improving its members' experience by offering compelling content and improving its technology. The company operates as one segment and generates revenues primarily from monthly membership fees. Its business is intensely competitive, and it faces competition from other entertainment video providers, video gaming providers, and more broadly from other sources of entertainment. Netflix's membership growth exhibits a seasonal pattern, with the fourth quarter representing the greatest growth. The company regards its intellectual property, including trademarks, copyrights, patents, and trade secrets, as important to its success. It operates a website at www.netflix.com and its ticker symbol is NFLX.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$3204.58
4374.56
5504.66
6779.51
8830.67
11692.71
15794.34
20156.45
24996.06
29697.84
31615.55
33723.30
8161.50
9370.44
23.86%14.81%Cost of Revenue (-)
$2039.90
3083.26
3752.76
4591.48
6029.90
7659.67
9967.54
12440.21
15276.32
17332.68
19168.28
19715.37
4803.63
4977.07
22.90%3.61%Gross Profit (+)
$1164.68
1291.31
1751.90
2188.04
2800.77
4033.05
5826.80
7716.23
9719.74
12365.16
12447.26
14007.93
3357.88
4393.37
25.37%30.84%Selling, General & Administrative (-)
$529.58
684.19
876.93
1231.42
1568.88
2141.59
2999.76
3566.83
3304.85
3896.77
4103.39
4378.17
956.29
1058.36
21.17%10.67%Marketing Expenses (-)
$402.64
503.89
607.19
824.09
991.08
1278.02
2369.47
2652.46
2228.36
2545.15
2530.50
2657.88
555.36
654.34
18.72%17.82%Research & Development (-)
$259.03
378.77
472.32
650.79
852.10
1052.78
1221.81
1545.15
1829.60
2273.89
2711.04
2675.76
687.27
702.47
23.65%2.21%Operating Expenses (-)
$788.61
1062.96
1349.25
1882.21
2420.97
3194.37
4221.58
5111.98
5134.45
6170.65
6814.43
7053.93
1643.56
1760.83
22.04%7.14%Costs & Expenses (Total) (-)
$2828.51
4146.22
5102.01
6473.68
8450.88
10854.03
14189.12
17552.19
20410.77
23503.34
25982.72
26769.29
6447.19
6737.91
22.67%4.51%Operating Income/Loss (+)
$376.07
228.35
402.65
305.83
379.79
838.68
1605.23
2604.25
4585.29
6194.51
5632.83
6954.00
1714.32
2632.53
30.37%53.56%Non-operating Income/Expense (+)
$3.48
-28.13
-3.06
-31.23
30.83
-115.15
41.73
84.00
-618.44
411.21
337.31
-48.77
-71.20
155.36
318.19%Interest Expense (-)
$20.02
29.14
50.22
132.72
150.11
238.20
420.49
626.02
767.50
765.62
706.21
699.83
174.24
173.31
38.14%-0.53%Earnings before Tax (+)
$359.52
171.07
349.37
141.88
260.51
485.32
1226.46
2062.23
3199.35
5840.10
5263.93
6205.40
1468.87
2614.58
29.56%78.00%Tax Expense (-)
$133.40
58.67
82.57
19.24
73.83
-73.61
15.22
195.31
437.95
723.88
772.00
797.41
163.75
282.37
17.65%72.44%Income/Loss (Continuing Operations) (+)
$226.13
112.40
266.80
122.64
186.68
558.93
1211.24
1866.92
2761.39
5116.23
4491.92
5407.99
1305.12
2332.21
33.46%78.70%Net Income/Loss (+)
$226.13
112.40
266.80
122.64
186.68
558.93
1211.24
1866.92
2761.39
5116.23
4491.92
5407.99
1305.12
2332.21
33.46%78.70%Net Income/Loss (Common) (+)
$226.13
112.40
266.80
122.64
186.68
558.93
1211.24
1866.92
2761.39
5116.23
4491.92
5407.99
1305.12
2332.21
33.46%78.70%EPS (Basic)
$4.28
1.93
4.44
0.29
0.44
1.29
2.78
4.26
6.26
11.55
10.10
12.25
2.93
5.40
10.03%84.30%EPS (Diluted)
$4.16
1.85
4.32
0.28
0.43
1.25
2.68
4.13
6.08
11.24
9.95
12.03
2.88
5.28
10.13%83.33%Weighted Avg Shares (Basic)
52.85
58.20
60.08
425.89
428.82
431.88
435.37
437.80
440.92
443.15
444.70
441.57
445.24
432.09
21.29%-2.95%Weighted Avg Shares (Diluted)
54.37
60.76
61.70
436.46
438.65
446.81
451.24
451.76
454.21
455.37
451.29
449.50
452.42
441.65
21.17%-2.38%Cash
$508.05
604.97
1113.61
1809.33
1467.58
2822.80
3794.48
5018.44
8205.55
6027.80
5147.18
7116.91
6714.59
7024.77
27.12%4.62%Short-term Investments
$289.76
595.44
494.89
501.38
266.21
911.28
20.97
1112.91
20.97
-21.24%-98.12%Prepaid Expenses (Current)
$56.01
Other Assets (Current)
$3217.83
1858.36
2331.97
3121.13
3986.51
4847.18
5899.65
1160.07
1556.03
2042.02
3208.02
2780.25
2655.12
2875.57
-1.32%8.30%Assets (Current)
$4071.65
3058.76
3940.47
5431.84
5720.29
7669.97
9694.14
6178.50
9761.58
8069.82
9266.47
9918.13
10482.62
9921.31
8.43%-5.35%Property, Plant & Equipment (Net)
$131.68
133.60
149.88
4486.23
7524.90
10690.46
15379.24
25069.79
26344.13
32242.99
34134.97
33149.50
33762.28
33163.27
65.30%-1.77%Other Assets
$2833.76
2220.19
2966.31
284.80
341.42
652.31
901.03
2727.42
3174.65
4271.85
5193.32
5664.36
5245.44
5743.14
6.50%9.49%Assets (Non-current)
$2965.44
2353.80
3116.18
4771.03
7866.32
11342.77
16280.27
27797.21
29518.78
36514.84
39328.29
38813.86
39007.72
38906.41
26.34%-0.26%Assets (Total)
$7037.09
5412.56
7056.65
10202.87
13586.61
19012.74
25974.40
33975.71
39280.36
44584.66
48594.77
48731.99
49490.35
48827.72
19.23%-1.34%Accounts Payable
$141.22
162.45
271.33
393.88
510.47
674.65
1040.40
1517.39
1758.38
2286.83
2186.16
2551.37
2310.06
2584.78
30.10%11.89%Debt (Current)
$
499.88
699.82
399.84
399.16
798.94
100.15%Other Liabilities (Current)
$2759.76
1991.75
2391.83
3135.74
4076.18
4791.66
5446.92
5338.31
5547.53
5502.31
5744.81
5909.44
5606.85
5905.51
7.17%5.33%Liabilities (Current)
$2900.98
2154.20
2663.15
3529.62
4586.66
5466.31
6487.32
6855.70
7805.78
8488.97
7930.97
8860.66
8316.07
9289.22
10.68%11.70%Debt (Non-current)
$
500.00
900.00
2371.36
3364.31
6499.40
10360.00
14759.26
15809.09
14693.07
14353.08
14143.42
14037.97
13217.04
-5.85%Other Liabilities
$2748.62
1424.80
1635.79
2078.46
2955.84
3465.04
3888.26
4778.60
4600.24
5553.38
5533.32
5139.61
5308.11
4956.06
5.85%-6.63%Liabilities (Non-current)
$2748.62
1924.80
2535.79
4449.82
6320.15
9964.44
14248.26
19537.86
20409.33
20246.45
19886.39
19283.02
19346.08
18173.09
19.38%-6.06%Liabilities (Total)
$5649.60
4079.00
5198.94
7979.44
10906.81
15430.79
20735.63
26393.56
28215.12
28735.42
27817.37
28143.68
27662.15
27462.31
15.72%-0.72%Treasury Stock
$
824.19
824.19
6922.20
1228.92
8934.06
626.98%Retained Earnings
$863.01
552.49
819.28
941.92
1128.60
1731.12
2942.36
4811.75
7573.14
12689.37
17181.30
22589.29
18486.42
24921.49
34.55%34.81%AOCI
$3.63
3.58
-4.45
-43.31
-48.56
-20.56
-19.58
-23.52
44.40
-40.49
-217.31
-223.94
-191.69
-111.88
41.64%Shareholder's Equity
$1387.48
1333.56
1857.71
2223.43
2679.80
3581.96
5238.77
7582.16
11065.24
15849.25
20777.40
20588.31
21828.20
21365.41
27.79%-2.12%Liabilities & Equity
$7037.09
5412.56
7056.65
10202.87
13586.61
19012.74
25974.40
33975.71
39280.36
44584.66
48594.77
48731.99
49490.35
48827.72
19.23%-1.34%Net Income/Loss
$226.13
112.40
266.80
122.64
186.68
558.93
1211.24
1866.92
2761.39
5116.23
4491.92
5407.99
1305.12
2332.21
33.46%78.70%Depreciation & Amortization
$43.75
48.37
54.03
62.28
57.53
71.91
83.16
103.58
115.71
208.41
336.68
356.95
90.33
87.23
21.03%-3.43%Increase/Decrease in Working Capital
$-115.59
-119.87
-137.10
-172.89
-192.38
-58.98
-293.77
-43.04
31.87
241.98
758.09
116.15
64.22
-105.03
-263.56%Share-based Compensation
$61.58
73.10
115.24
124.72
173.68
182.21
320.66
405.38
415.18
403.22
575.45
339.37
99.10
76.34
16.78%-22.96%Adjustments to Reconcile Net Income
$91.59
-14.57
-250.32
-872.08
-1660.66
-2344.88
-3891.72
-4754.24
-334.32
-4723.62
-2465.67
1866.31
873.62
-119.69
31.53%-113.70%Net Cash (Operating)
$317.71
97.83
16.48
-749.44
-1473.98
-1785.95
-2680.48
-2887.32
2427.08
392.61
2026.26
7274.30
2178.74
2212.52
32.93%1.55%Capital Expenditure
$49.68
54.14
69.73
91.25
107.65
173.30
173.95
253.03
497.92
1312.93
1165.12
348.55
62.02
75.71
19.38%22.08%Net Cash (Investing)
$-265.81
-255.97
-42.87
-179.19
49.77
34.33
-339.12
-387.06
-505.35
-1339.85
-2076.39
541.75
-263.65
-75.71
71.28%Increase/Decrease in Debt
$195.98
270.04
398.91
1499.45
1000.00
3020.51
3961.85
4469.31
1009.46
-500.00
-700.00
-400.00
Increase/Decrease in Equity
$19.90
124.56
53.46
60.35
26.28
56.23
88.63
36.36
227.85
-425.61
35.75
-5875.36
-374.07
-1731.12
-362.78%Interest Expenses
$19.39
19.11
41.09
111.76
138.57
213.31
375.83
599.13
762.90
763.43
701.69
684.50
38.26%Net Cash (Financing)
$261.66
476.26
541.71
1640.28
1091.63
3076.99
4048.53
4505.66
1237.31
-1149.78
-664.25
-5950.80
-374.07
-2132.94
-470.19%Cash Taxes Paid
$79.07
7.46
50.57
27.66
26.81
113.59
131.07
400.66
291.58
509.26
811.72
1154.97
27.61%Effect of Exchange Rate
$
-3.45
-6.69
-15.92
-9.16
29.85
-39.68
0.47
36.05
-86.74
-170.14
82.68
26.42
-95.79
-462.53%Increase/Decrease in Cash
$313.55
314.67
508.64
695.72
-341.75
1355.22
989.25
1231.74
3195.08
-2183.76
-884.53
1947.93
1567.44
-91.93
18.06%-105.86%Cash (Beginning)
$194.50
290.29
604.97
1113.61
1809.33
1467.58
2822.80
3812.04
5043.79
8238.87
6055.11
5170.58
5170.58
7118.52
34.74%37.67%Cash (Ending)
$508.05
604.97
1113.61
1809.33
1467.58
2822.80
3812.04
5043.79
8238.87
6055.11
5170.58
7118.52
6738.02
7026.59
27.12%4.28%NOPAT
$293.36
218.38
344.36
246.21
340.71
965.88
1433.68
2098.29
4167.40
5654.34
4764.22
5659.70
1523.20
2348.22
30.87%54.16%Gross Margin %
36.34%
29.52%
31.83%
32.27%
31.72%
34.49%
36.89%
38.28%
38.89%
41.64%
39.37%
41.54%
41.14%
46.89%
Operating Margin %
11.74%
5.22%
7.31%
4.51%
4.30%
7.17%
10.16%
12.92%
18.34%
20.86%
17.82%
20.62%
21.00%
28.09%
NOPAT Margin %
9.15%
4.99%
6.26%
3.63%
3.86%
8.26%
9.08%
10.41%
16.67%
19.04%
15.07%
16.78%
18.66%
25.06%
Net Margin %
7.06%
2.57%
4.85%
1.81%
2.11%
4.78%
7.67%
9.26%
11.05%
17.23%
14.21%
16.04%
15.99%
24.89%
Tax Rate %
21.99%
4.36%
14.48%
19.49%
10.29%
-15.17%
10.69%
19.43%
9.11%
8.72%
15.42%
18.61%
11.15%
10.80%
ROA
4.17%
4.03%
4.88%
2.41%
2.51%
5.08%
5.52%
6.18%
10.61%
12.68%
9.80%
11.61%
3.08%
4.81%
ROE
21.14%
16.38%
18.54%
11.07%
12.71%
26.97%
27.37%
27.67%
37.66%
35.68%
22.93%
27.49%
6.98%
10.99%
ROIC
163.45%
229.77%
5.49%
4.53%
9.03%
9.32%
8.37%
15.82%
17.54%
13.96%
17.07%
4.51%
7.08%
Asset Turnover
0.46
0.81
0.78
0.66
0.65
0.61
0.61
0.59
0.64
0.67
0.65
0.69
0.16
0.19
Equity Multiplier
5.07
4.06
3.80
4.59
5.07
5.31
4.96
4.48
3.55
2.81
2.34
2.37
2.27
2.29
Current Ratio
1.40
1.42
1.48
1.54
1.25
1.40
1.49
0.90
1.25
0.95
1.17
1.12
1.26
1.07
Quick Ratio
0.28
0.56
0.60
0.65
0.38
0.52
0.58
0.73
1.05
0.71
0.76
0.81
0.94
0.76
Debt/Equity Ratio
0.37
0.48
1.07
1.26
1.81
1.98
1.95
1.47
0.97
0.69
0.71
0.66
0.66
Interest Coverage Ratio
19.39
11.95
9.80
2.74
2.74
3.93
4.27
4.35
6.01
8.11
8.03
10.16
Working Capital/Sales
-0.36
R&D/Sales
0.08
0.09
0.09
0.10
0.10
0.09
0.08
0.08
0.07
0.08
0.09
0.08
0.08
0.07
Total Payout
$-196.48
-375.49
-411.29
-1448.05
-887.71
-2863.42
-3674.65
-3906.53
-474.41
1689.04
1365.95
6559.86
374.07
2131.12
469.71%Payout Ratio %
-66.97%
-171.94%
-119.43%
-588.13%
-260.55%
-296.46%
-256.31%
-186.18%
-11.38%
29.87%
28.67%
115.90%
24.56%
90.75%