What are Netflix's profit margins?

Netflix (NFLX) runs a 49.0% gross margin and a 29.7% operating margin, with a 28.5% net margin.

Where do Netflix's ratios come from?

Every ratio is computed from Netflix's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Netflix NFLX Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	49%+0.5pp	48.5%+0.4pp	48.1%-0.4pp	48.5%+1.6pp	46.9%+0.9pp
Operating margin	29.7%+0.2pp	29.5%+0.3pp	29.1%-0.4pp	29.5%+1.8pp	27.7%+1.0pp
Net margin	28.5%+4.2pp	24.3%+0.3pp	24%-0.5pp	24.6%+1.5pp	23.1%+0.7pp
Returns
Return on equity	48.5%+5.7pp	42.8%-0.1pp	42.9%-0.7pp	43.5%+2.7pp	40.8%+2.4pp
Return on invested capital	33.2%+0.1pp	33.1%+0.8pp	32.3%-0.5pp	32.8%+2.8pp	30%+2.1pp
Efficiency
Asset turnover	0.8×0.0×	0.8×0.0×	0.8×0.0×	0.8×0.0×	0.8×0.0×
Liquidity
Current ratio	1.4×+0.2×	1.2×-0.1×	1.3×0.0×	1.3×+0.1×	1.2×0.0×
Leverage
Debt-to-equity	0.5×-0.1×	0.6×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×
Net debt / EBITDA	0.3×-0.3×	0.6×0.0×	0.6×-0.1×	0.7×-0.2×	0.9×-0.1×
Per Share
Book value per share	$7.24+18.2%	$6.13-89.8%	$59.80+4.2%	$57.38+943%	$5.50-2.4%
Valuation
Market capitalization	$405.96B+2.1%	$397.72B-21.9%	$509.45B-6.4%	$544.35B+36.5%	$398.9B+4.7%
Price / earnings	30.4×-5.9×	36.2×-12.6×	48.8×-4.3×	53.1×+10.1×	43×-0.7×
Price / sales	8.7×-0.1×	8.8×-2.9×	11.7×-1.3×	13.1×+3.1×	9.9×+0.2×
Price / book	13×-1.9×	14.9×-4.7×	19.6×-2.2×	21.8×+5.2×	16.6×+1.2×
EV / EBITDA	28.7×-1.0×	29.7×-10.2×	39.9×-3.9×	43.8×+8.1×	35.7×-0.7×

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Questions, answered.

What are Netflix's profit margins?: Netflix (NFLX) runs a 49.0% gross margin and a 29.7% operating margin, with a 28.5% net margin.
Where do Netflix's ratios come from?: Every ratio is computed from Netflix's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.