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Netflix NFLX Free cash flow margin

Free cash flow margin at other companies

Apple logo
AppleAAPL
28.6%+4.0pp
Electronic Arts logo
Electronic ArtsEA
30.8%+5.9pp
Amazon logo
AmazonAMZN
1.4%-1.8pp
Charter Communications, Inc. logo
Charter Communications, Inc.CHTR
7.4%-0.9pp
Comcast logo
ComcastCMCSA
16.3%+3.1pp
EchoStar logo
EchoStarSATS
-6.1%-10.2pp

Other financials

Income statement

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Revenue$12.2B+16.2%
Gross profit$6.4B+20.5%
Operating income$4.0B+18.2%
Net income$5.3B+82.8%
EPS (diluted)$1.23+86.4%

Balance sheet

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Cash & equivalents$12.3B+70.3%
Total debt$16.7B-3.9%
Total equity$31.1B+29.5%
Total assets$61.0B+17.1%

Cash flow

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Operating cash flow$5.3B+89.7%
CapEx$196.1M+52.9%
Free cash flow$5.1B+91.4%

Valuation

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Market cap$325.83B+1.8%
Enterprise value$330.31B+0.3%
P/E24.4×-10.2×
P/S-1.0×

Profitability

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Gross margin49%+2.1pp
Operating margin29.7%+2.0pp
Net margin28.5%+5.4pp

Returns & leverage

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Return on equity48.5%+7.7pp
Debt / equity0.5×-0.2×
Current ratio1.4×+0.2×

Where this comes from

Calculated from Netflix’s reported figures.

Based on trailing twelve months.

The official record: Netflix’s 10-Q, filed April 17, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Netflix's free cash flow margin?
Netflix (NFLX) reported free cash flow margin of 25.4% in Q1 2026.
How has Netflix's free cash flow margin changed year-over-year?
Netflix's free cash flow margin increased by 36.9% year-over-year, from 18.5% to 25.4%.
What is the long-term trend for Netflix's free cash flow margin?
Over 3 years (2022 to 2025), Netflix's free cash flow margin has grown at a 117.5% compound annual growth rate (CAGR), from 7.8% to 80.5%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.