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Netflix NFLX Ratios & Valuation

Income StatementBalance SheetCash FlowRatiosSegments
QuarterlyAnnualTTM
YoYQoQ
SimplifiedDetailed
Q1 '26Q4 '25Q3 '25Q2 '25Q1 '25
Profitability
Gross margin49%+2.1pp48.5%+2.4pp48.1%+2.8pp48.5%+4.7pp46.9%+3.9pp
Operating margin29.7%+2.0pp29.5%+2.8pp29.1%+3.5pp29.5%+5.7pp27.7%+5.2pp
Net margin28.5%+5.4pp24.3%+2.0pp24%+3.3pp24.6%+5.0pp23.1%+4.7pp
EBITDA margin30.5%+2.0pp30.2%+2.7pp29.9%+3.4pp30.3%+5.5pp28.5%+5.0pp
Free cash flow margin25.4%+6.8pp20.9%+3.2pp20.7%+1.7pp20.4%+1.6pp18.5%-1.3pp
Returns
Return on equity48.5%+7.7pp42.8%+4.3pp42.9%+8.1pp43.5%+12.0pp40.8%+11.0pp
Return on assets23.6%+5.3pp20.1%+3.1pp19.5%+4.2pp20.1%+5.9pp18.4%+5.3pp
Return on invested capital33.2%+3.2pp33.1%+5.2pp32.3%+6.7pp32.8%+9.5pp30%+8.1pp
Efficiency
Asset turnover0.8×0.0×0.8×+0.1×0.8×+0.1×0.8×+0.1×0.8×+0.1×
Liquidity
Current ratio1.4×+0.2×1.2×0.0×1.3×+0.2×1.3×+0.4×1.2×+0.1×
Quick ratio1.4×+0.2×1.2×0.0×1.3×+0.2×1.3×+0.4×1.2×+0.1×
Cash ratio1×+0.3×0.8×+0.1×1×+0.3×0.9×+0.3×0.7×0.0×
Leverage
Debt-to-equity0.5×-0.2×0.6×-0.1×0.7×-0.2×0.7×-0.1×0.7×0.0×
Debt-to-assets0.3×-0.1×0.3×0.0×0.3×0.0×0.3×0.0×0.3×0.0×
Net debt / EBITDA0.3×-0.6×0.6×-0.4×0.6×-0.5×0.7×-0.4×0.9×-0.3×
Interest coverage16.3×+1.1×17.2×+2.7×17.2×+3.5×16.5×+4.0×15.3×+4.0×
Per Share
Book value per share$7.24+31.7%$6.13+8.8%$59.80+15.2%$57.38+14.1%$5.50-88.6%
Valuation
Market capitalization$405.96B+1.8%$397.72B+4.4%$509.45B+67.0%$544.35B+87.6%$398.9B+52.0%
Enterprise value$410.44B+0.3%$405.66B+3.7%$517.25B+63.6%$553.11B+84.3%$409.12B+50.5%
Price / earnings30.4×-12.7×36.2×-7.5×48.8×+9.6×53.1×+12.2×43×+2.3×
Price / sales8.7×-1.3×8.8×-1.0×11.7×+3.6×13.1×+5.1×9.9×+2.4×
Price / book13×-3.6×14.9×-0.5×19.6×+6.2×21.8×+8.7×16.6×+4.3×
EV / EBITDA28.7×-7.0×29.7×-6.7×39.9×+8.2×43.8×+10.4×35.7×+2.7×
EV / sales8.8×-1.4×9×-1.1×11.9×+3.5×13.3×+5.0×10.2×+2.4×
Free cash flow yield2.9%+1.1pp2.4%+0.6pp1.8%-0.6pp1.6%-0.8pp1.9%-0.8pp
Earnings yield3.3%+1.0pp2.8%+0.5pp2%-0.5pp1.9%-0.6pp2.3%-0.1pp
PEG ratio0.7×-0.3×1.4×+0.7×1.4×+0.9×1.2×+0.6×1×+0.2×

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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.