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Netflix NFLX Reportable Segment — Operating margin

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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$291.85B-41.5%
Enterprise value$297.06B-41.5%
P/E21.4×-27.3×
P/S6×-5.9×

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.

Tagged under the XBRL concept nflx:PercentageOfOperatingMargin.

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 reportable segment — operating margin?
Netflix (NFLX) reported reportable segment — operating margin of 32.3% in Q1 2026.
How has Netflix's reportable segment — operating margin changed year-over-year?
Netflix's reportable segment — operating margin increased by 1.9% year-over-year, from 31.7% to 32.3%.
What does reportable segment — operating margin mean?
This metric represents the operating profitability of the company's primary business segment by measuring the percentage of revenue remaining after deducting all operating expenses, including content amortization, marketing, technology, and administrative costs. It serves as a key indicator of the segment's ability to convert its core streaming and content business activities into sustainable profit. By excluding non-operating items like interest and taxes, it isolates the efficiency of the company's operational model.