Free cash flow
Netflix Free cash flow increased by 172.1% to $5.09B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 91.4%, from $2.66B to $5.09B. Over 4 years (FY 2021 to FY 2025), Free cash flow shows an upward trend with a 191.0% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flowHistorical Data
| 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 | -$174.04M | -$84.95M | -$569.25M | $801.68M | $12.73M | $471.85M | $332.27M | $2.12B | $1.34B | $1.89B | $1.58B | $2.14B | $1.21B | $2.19B | $1.38B | $2.66B | $2.27B | $2.66B | $1.87B | $5.09B |
| QoQ Change | — | +51.2% | -570.1% | +240.8% | -98.4% | >999% | -29.6% | +537.1% | -36.7% | +41.0% | -16.3% | +35.1% | -43.3% | +81.0% | -37.2% | +93.1% | -14.8% | +17.3% | -29.6% | +172.1% |
| YoY Change | — | — | — | — | +107.3% | +655.5% | +158.4% | +164.0% | >999% | +300.2% | +375.9% | +0.9% | -9.5% | +16.2% | -12.8% | +24.5% | +87.0% | +21.2% | +35.8% | +91.4% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Netflix's free cash flow?
- Netflix (NFLX) reported free cash flow of $5.09B in Q1 2026.
- How has Netflix's free cash flow changed year-over-year?
- Netflix's free cash flow increased by 91.4% year-over-year, from $2.66B to $5.09B.
- What is the long-term trend for Netflix's free cash flow?
- Over 4 years (2021 to 2025), Netflix's free cash flow has grown at a 191.0% compound annual growth rate (CAGR), from -$131.98M to $9.46B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.