Netflix, Inc. (NFLX) quarterly cash flow statement — complete operating, investing & financing history
Netflix, Inc. (NFLX) cash flow statement — 25-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 3.16B | 1.59B | 5.29B | 2.11B | 2.83B | 2.42B | 2.79B | 1.54B | 2.32B | 1.29B | 2.21B | 1.66B | 1.99B | 1.44B | 2.18B | 443.86M | 556.81M | 102.75M | 922.84M | -403.27M |
| Operating CF Margin % | 24.56% | 12.63% | 43.19% | 17.52% | 24.54% | 21.87% | 26.46% | 15% | 23.63% | 13.5% | 23.61% | 18.83% | 23.32% | 17.59% | 26.7% | 5.65% | 7.03% | 1.29% | 11.73% | -5.23% |
| Operating CF Growth % | 11.93% | -34.53% | 89.67% | 37.4% | 21.72% | 87.73% | 26.06% | -7.58% | 16.5% | -10.37% | 1.55% | 274.67% | 257.81% | 1301.69% | 136.09% | 210.06% | 575.91% | 261.15% | 18.73% | -192.92% |
| Net Income | 3.66B | 3.4B | 5.28B | 2.42B | 2.55B | 3.13B | 2.89B | 1.87B | 2.36B | 2.15B | 2.33B | 937.84M | 1.68B | 1.49B | 1.31B | 55.28M | 1.4B | 1.44B | 1.6B | 607.43M |
| Depreciation & Amortization | 4.34B | 4.41B | 4.32B | 4.85B | 4.09B | 3.91B | 3.9B | 4.24B | 3.78B | 3.85B | 3.76B | 3.84B | 3.66B | 3.5B | 3.55B | 4.04B | 3.74B | 3.34B | 3.24B | 3.81B |
| Stock-Based Compensation | 133.72M | 131.31M | 140.41M | 134.62M | 80.99M | 80.86M | 71.98M | 61.83M | 65.65M | 68.77M | 76.34M | 82.52M | 79.72M | 78.03M | 99.1M | 153.79M | 152.06M | 150.39M | 119.21M | 99.33M |
| Deferred Taxes | 182.05M | 81.26M | 58.82M | -162.91M | 20.54M | -135.75M | -163.93M | -73.25M | -200.98M | -209.39M | -107.08M | -171.13M | -86.28M | -103.17M | -98.78M | 75.97M | -57.8M | -115.82M | -68.91M | -62.28M |
| Other Non-Cash Items | -4.96B | -6.28B | -4.61B | -4.88B | -4.49B | -3.87B | -3.82B | -4.49B | -3.87B | -4.32B | -3.95B | -3.09B | -3.27B | -3.49B | -2.61B | -3.13B | -4.77B | -4.59B | -3.99B | -4.82B |
| Working Capital Changes | -204.28M | -157.4M | 105.3M | -252.36M | 575.75M | -684.86M | -94.75M | -70.46M | 179.58M | -247.23M | 105.03M | 59M | -75.75M | -35.19M | -64.22M | -753.94M | 93.27M | -122.7M | 25.29M | -28.7M |
| Change in Receivables | 0 | 0 | -704.64M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 46.21M | -157.4M | 154K | 117.89M | 139.45M | 11.05M | -276.43M | 255.38M | 30.6M | -19.36M | -145.26M | 213.23M | -68.39M | 38.33M | -89.67M | 125.07M | 53.88M | -122.05M | -215.44M | 185.28M |
| Cash from Investing | -331.31M | -218.64M | -781.87M | -256.53M | 43.87M | 768.68M | 485.66M | -158.67M | -1.87B | -78.29M | -75.71M | 411.6M | 296.07M | 97.74M | -263.65M | -1.59B | -84.96M | -158.89M | -245.68M | -954.33M |
| Capital Expenditures | -278.77M | -218.64M | -196.13M | -239.34M | -164.72M | -155.89M | -128.28M | -158.67M | -126.86M | -78.29M | -75.71M | -81.63M | -103.93M | -100.97M | -62.02M | -111.59M | -84.96M | -90.02M | -121.16M | -165.98M |
| CapEx % of Revenue | 2.17% | 1.74% | 1.6% | 1.99% | 1.43% | 1.41% | 1.22% | 1.55% | 1.29% | 0.82% | 0.81% | 0.92% | 1.22% | 1.23% | 0.76% | 1.42% | 1.07% | 1.13% | 1.54% | 2.15% |
| Acquisitions | 0 | 0 | -585.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 198.71M | 0 | -198.71M | 0 | -563.99M | 0 | -68.88M | -124.52M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | -17.19M | 36.19M | -36.19M | 0 | 0 | 0 | 0 | 0 | -198.71M | 0 | 198.71M | 0 | -757.39M | 0 | 0 | 0 | -788.35M |
| Cash from Financing | -3.75B | -9.32B | -1.23B | -2.08B | -1.74B | -2.5B | -4.03B | -678.7M | 226.6M | -1.49B | -2.13B | -2.45B | -2.48B | -649.35M | -374.07M | 6.71M | 4.11M | 11.25M | -686.32M | -136.02M |
| Debt Issued (Net) | 992.55M | 0 | 0 | 0 | 0 | -1.03B | -800M | -1.39B | 1.79B | 0 | -400M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -700M | 0 |
| Equity Issued (Net) | -4.72B | -4.65B | -1.22B | -2B | -1.79B | -1.49B | -3.18B | -661.74M | -1.56B | -1.48B | -1.73B | -2.45B | -2.44B | -610.43M | -374.07M | 6.71M | 4.11M | 11.25M | 13.68M | 88.15M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -4.8B | -4.71B | -1.27B | -2.08B | -1.86B | -1.65B | -3.54B | -963.75M | -1.7B | -1.6B | -2B | -2.5B | -2.5B | -645.15M | -400.1M | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -25.47M | -4.67B | -9.54M | -73.93M | 49.64M | 15.84M | -43.52M | 1.38B | -11.11M | -8.13M | -1.82M | -3.7M | -32.83M | -38.92M | 0 | 0 | 0 | 0 | 0 | -224.17M |
| Net Change in Cash | -905.01M | -7.98B | 3.23B | -251.67M | 1.11B | 976.54M | -603.31M | 348.25M | 832.04M | -399.54M | -91.93M | -238.32M | -309.43M | 928.25M | 1.57B | -969.73M | 295.9M | -190.09M | -20.61M | -1.5B |
| Free Cash Flow | 2.88B | 1.37B | 5.09B | 1.87B | 2.66B | 2.27B | 2.66B | 1.38B | 2.19B | 1.21B | 2.14B | 1.58B | 1.89B | 1.34B | 2.12B | 332.26M | 471.85M | 12.73M | 801.68M | -569.25M |
| FCF Margin % | 22.4% | 10.89% | 41.59% | 15.54% | 23.11% | 20.47% | 25.24% | 13.45% | 22.33% | 12.68% | 22.8% | 17.9% | 22.11% | 16.36% | 25.94% | 4.23% | 5.95% | 0.16% | 10.19% | -7.38% |
| FCF Growth % | 8.38% | -39.68% | 91.44% | 35.85% | 21.25% | 86.99% | 24.53% | -12.85% | 16.2% | -9.46% | 0.95% | 375.94% | 300.21% | 10418.85% | 164.04% | 158.37% | 655.46% | 107.32% | 15.14% | -99.02% |
| FCF per Share | 0.69 | 0.32 | 1.19 | 0.43 | 0.61 | 0.52 | 0.61 | 0.31 | 0.50 | 0.28 | 0.48 | 0.35 | 0.42 | 0.30 | 0.47 | 0.07 | 0.10 | 0.00 | 0.18 | -0.12 |
| FCF Conversion (FCF/Net Income) | 0.86x | 0.47x | 1.00x | 0.87x | 1.11x | 0.78x | 0.97x | 0.82x | 0.98x | 0.60x | 0.95x | 1.77x | 1.19x | 0.97x | 1.67x | 8.03x | 0.40x | 0.07x | 0.58x | -0.66x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |