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Netflix NFLX Net debt

Discontinued — last reported Q2 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

Other financials

Income statement

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Revenue$12.6B+13.4%
Gross profit$6.5B+13.4%
Operating income$4.2B+11.1%
Net income$3.4B+8.8%
EPS (diluted)$0.72-90.0%

Balance sheet

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Cash & equivalents$9.1B+11.3%
Total debt$14.3B-15.5%
Total equity$30.2B+20.8%
Total assets$58.5B+10.1%

Cash flow

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Operating cash flow$1.7B-28.0%
CapEx$218.6M+40.3%
Free cash flow$1.5B-32.7%

Valuation

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Market cap$298.6B-40.0%
Enterprise value$303.81B-40.0%
P/E21.9×-26.7×
P/S6.2×-5.8×

Profitability

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Gross margin49.1%+0.6pp
Operating margin29.7%+0.2pp
Net margin28.2%+3.6pp
FCF margin23.1%+2.7pp

Returns & leverage

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Return on equity49.5%+6.0pp
Debt / equity0.5×-0.2×
Current ratio1.1×-0.2×

Where this comes from

Reported directly by Netflix in its filing.

The source filing: Netflix’s 8-K, filed July 16, 2026. Open the filing →

Filed
Jul 16, 2026, 4:03 PM EDT
Accession
0001065280-26-000211

FAQ

What is Netflix's net debt?
Netflix (NFLX) reported net debt of $5.21B in Q2 2026.
How has Netflix's net debt changed year-over-year?
Netflix's net debt decreased by 40.5% year-over-year, from $8.76B to $5.21B.
What is the long-term trend for Netflix's net debt?
Over 5 years (2020 to 2025), Netflix's net debt has grown at a -5.1% compound annual growth rate (CAGR), from $10.31B to $7.94B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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