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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	194.1%+2.1pp	192%+2.4pp	189.6%+2.8pp	186.7%+4.7pp	182.1%+3.9pp
Operating margin	117.9%+2.0pp	115.9%+2.8pp	113.1%+3.5pp	109.6%+5.7pp	103.9%+5.2pp
Net margin	101.5%+5.4pp	96%+2.0pp	94%+3.3pp	90.7%+5.0pp	85.7%+4.7pp
Returns
Return on equity	177.7%+7.7pp	170%+4.3pp	165.7%+8.1pp	157.5%+12.0pp	145.6%+11.0pp
Return on invested capital	131.5%+3.2pp	128.3%+5.2pp	123%+6.7pp	116.3%+9.5pp	106.8%+8.1pp
Efficiency
Asset turnover	3.3×0.0×	3.2×+0.1×	3.2×+0.1×	3.1×+0.1×	3×+0.1×
Liquidity
Current ratio	5.3×+0.2×	5.1×0.0×	5.1×+0.2×	4.9×+0.4×	4.5×+0.1×
Leverage
Debt-to-equity	2.5×-0.2×	2.7×-0.1×	2.8×-0.2×	2.9×-0.1×	3×0.0×
Net debt / EBITDA	2.2×-0.6×	2.8×-0.4×	3.1×-0.5×	3.6×-0.4×	4×-0.3×
Per Share
Book value per share	$130.54+1.4%	$128.80+0.4%	$128.30+6.6%	$120.39+6.3%	$113.30-27.5%
Valuation
Market capitalization	$1.86T+0.4%	$1.85T+0.9%	$1.83T+12.5%	$1.63T+18.5%	$1.38T+11.0%
Price / earnings	168.5×-12.7×	181.2×-7.5×	188.7×+9.6×	179.1×+12.2×	166.9×+2.3×
Price / sales	42.3×-1.3×	43.5×-1.0×	44.5×+3.6×	40.9×+5.1×	35.8×+2.4×
Price / book	69.4×-3.6×	73×-0.5×	73.4×+6.2×	67.2×+8.7×	58.6×+4.3×
EV / EBITDA	142.1×-7.0×	149.1×-6.7×	155.8×+8.2×	147.6×+10.4×	137.2×+2.7×

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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.