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Netflix NFLX Operating margin

Operating margin at other companies

GHC
Graham HoldingsGHC
5.1%-0.6pp
Apple logo
AppleAAPL
33.2%+1.3pp
Electronic Arts logo
Electronic ArtsEA
15.4%-4.9pp
Amazon logo
AmazonAMZN
12.1%+0.7pp
Charter Communications, Inc. logo
Charter Communications, Inc.CHTR
23.3%-0.7pp
Nexstar Media Group, Inc. logo
Nexstar Media Group, Inc.NXST
17.5%-5.1pp

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
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

Calculated from Netflix’s reported figures.

Based on trailing twelve months.

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 operating margin?
Netflix (NFLX) reported operating margin of 29.7% in Q2 2026.
How has Netflix's operating margin changed year-over-year?
Netflix's operating margin increased by 0.6% year-over-year, from 29.5% to 29.7%.
What is the long-term trend for Netflix's operating margin?
Over 5 years (2020 to 2025), Netflix's operating margin has grown at a 10.0% compound annual growth rate (CAGR), from 18.3% to 29.5%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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