Investing
CapEx
Netflix CapEx decreased by 18.1% to $196.13M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 52.9%, from $128.28M to $196.13M. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 7.0% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2013
Last reportedQ1 2026
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
Metric ID:
capital_expendituresHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $110.28M | $167.33M | $165.98M | $121.16M | $90.02M | $84.96M | $111.59M | $62.02M | $100.97M | $103.93M | $81.63M | $75.71M | $78.29M | $126.86M | $158.67M | $128.28M | $155.89M | $164.72M | $239.34M | $196.13M |
| QoQ Change | — | +51.7% | -0.8% | -27.0% | -25.7% | -5.6% | +31.3% | -44.4% | +62.8% | +2.9% | -21.5% | -7.2% | +3.4% | +62.0% | +25.1% | -19.2% | +21.5% | +5.7% | +45.3% | -18.1% |
| YoY Change | — | — | — | — | -18.4% | -49.2% | -32.8% | -48.8% | +12.2% | +22.3% | -26.8% | +22.1% | -22.5% | +22.1% | +94.4% | +69.4% | +99.1% | +29.8% | +50.8% | +52.9% |
Range$62.02M – $239.34M
CAGR+12.9%
Avg YoY Growth+17.3%
Median YoY Growth+22.1%
CapEx at Other Companies
Frequently Asked Questions
- What is Netflix's capex?
- Netflix (NFLX) reported capex of $196.13M in Q1 2026.
- How has Netflix's capex changed year-over-year?
- Netflix's capex increased by 52.9% year-over-year, from $128.28M to $196.13M.
- What is the long-term trend for Netflix's capex?
- Over 4 years (2021 to 2025), Netflix's capex has grown at a 7.0% compound annual growth rate (CAGR), from $524.59M to $688.22M.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.