Netflix
Streams original and licensed entertainment through ad-free and ad-supported memberships.
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Profile
Streams original and licensed TV series, films, games, and live programming through ad-free and ad-supported memberships worldwide. Monthly fees provide most revenue, with advertising and experiences supplementing a single-segment business built around long-term content commitments.
Streams TV series, films, games, and live programming through ad-free and ad-supported memberships. Original productions and licensed titles span many genres and languages, while a single global service adapts pricing, catalog availability, and discovery to local markets. Monthly membership fees remain the main revenue source; advertising, consumer products, and live experiences are smaller supplements.
Combines global distribution with a continually refined interface that helps members choose content, and uses locally relevant programming to serve audiences across the Americas, Europe, the Middle East, Africa, and Asia-Pacific. The business operates as one segment and competes for viewing time as well as production and licensing rights. Its content slate relies on multi-year, largely fixed production and licensing commitments, while country-level rules can impose catalog quotas, investment obligations, levies, or ownership restrictions.
Company facts
Categories
Key statistics
Year to date −10.2% · Average volume (30d) 34.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 22, 2026 | Robert W. Baird | Target | $1,300 | $90 | ||
| Jul 20, 2026 | CLSA | Initiate | Outperform | |||
| Jul 20, 2026 | Goldman Sachs | Downgrade | Underweight | Sell | ||
| Jul 20, 2026 | BMO Capital | Downgrade | Outperform | Market Perform | ||
| Jul 20, 2026 | Seaport Global | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 16, 2026Q2 FY26 | $0.79 | $0.80 | +1.3% | $12.58B | $12.56B | −0.2% | −7.26% |
| Apr 16, 2026Q1 FY26 | $0.76 | $1.23 | +61.2% | $12.18B | $12.25B | +0.6% | −9.72% |
| Jan 20, 2026Q4 FY25 | $0.55 | $0.56 | +1.4% | $11.97B | $12.05B | +0.7% | −2.18% |
| Oct 21, 2025Q3 FY25 | $0.70 | $0.59 | −15.2% | $11.51B | $11.51B | 0.0% | −10.07% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $10.54B | $11.08B | $11.51B | $12.05B | $12.25B | $12.56B | |
| Gross profit | $5.28B | $5.75B | $5.35B | $5.53B | $6.36B | $6.52B | |
| Operating income | $3.35B | $3.77B | $3.25B | $2.96B | $3.96B | $4.19B | |
| Net income | $2.89B | $3.13B | $2.55B | $2.42B | $5.28B | $3.40B | |
| Diluted EPS | $0.66 | $0.72 | $0.59 | $0.56 | $1.23 | $0.80 | |
| Gross margin | 50.1% | 51.9% | 46.4% | 45.9% | 51.9% | 51.9% | |
| Operating margin | 31.7% | 34.1% | 28.2% | 24.5% | 32.3% | 33.4% |
Fiscal years (4-quarter sums)FY21 $29.70B · FY22 $31.62B · FY23 $33.72B · FY24 $39.00B · FY25 $45.18B
Revenue by product · FY25
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $9.13B · Total debt $14.31B · Total assets $58.45B · Shareholders' equity $30.15B
Dividends
No dividends on record.
Ownership
Shares outstanding 4.16B · Float 4.14B · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 348.77M | 8.38% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 275.03M | 6.60% | 13F | Aug 13, 2026 |
| State Street Corp | 180.13M | 4.33% | 13F | Aug 7, 2026 |
| FMR LLC | 135.94M | 3.26% | 13F | Aug 13, 2026 |
| Invesco Ltd. | 135.42M | 3.25% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Spencer Adam Neumann | officer: Chief Financial Officer | −9,248 | $75.79 |
| Aug 5, 2026 | Richard N. Barton | director | −2,160 | $75.10 |
| Aug 6, 2026 | Gregory K. Peters | director, officer: Co-CEO | −27,312 | $73.54 |
| Aug 4, 2026 | Theodore A. Sarandos | director, officer: Co-CEO | −27,312 | $73.35 |
| Aug 3, 2026 | Theodore A. Sarandos | director, officer: Co-CEO | −105,850 | $73.03 |
Peers
- Walt Disney
Broadest IP franchise platform in streaming; Disney+/Hulu bundle battles for SVOD share.
- Amazon
Prime Video bundles streaming with e-commerce; leads in live sports with NFL and NBA rights.
- Warner Bros. Discovery
HBO prestige drama and Max platform are the premium scripted rival closest to Netflix.
- Alphabet Class A
YouTube dominates US TV viewing at 12.7% share, outpacing Netflix's 9.0% by 3+ points.
- Apple
Prestige-only Apple TV competes via Emmy-winning originals and exclusive F1 and MLS rights.
- Banzai International
Paramount+ and CBS deliver sports, franchise IP, and Taylor Sheridan originals vs Netflix.
- Comcast
Peacock bundles NBC live sports (NFL, NBA, Olympics) to compete for leisure-time attention.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Netflix | $81.62 | −0.12% | $340.28B | 25.7 | 23.6 | 7.0 | +13.4% |
| Walt Disney | $108.09 | −0.01% | $187.72B | 22.3 | 14.6 | 1.9 | +7.1% |
| Amazon | $266.10 | −0.11% | $2.87T | 21.4 | 28.5 | 3.7 | +19.6% |
| Warner Bros. Discovery | $28.79 | +0.05% | $72.13B | — | — | 2.0 | −11.2% |
| Alphabet Class A | $346.00 | −0.14% | $4.19T | 17.4 | 25.8 | 9.4 | +24.2% |
| Apple | $320.07 | +0.15% | $4.70T | 36.6 | 34.7 | 10.1 | +16.4% |
| Banzai International | $1.10 | +0.92% | $3.6M | — | — | 0.3 | −30.3% |
| Comcast | $27.08 | +0.09% | $96.03B | 8.8 | 7.7 | 0.8 | −1.2% |
| Median | 21.4 | 25.8 | 2.0 | +7.1% |