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

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	192%+13.8pp	178.2%+20.1pp	158.1%-3.1pp	161.2%-7.0pp
Operating margin	115.9%+17.1pp	98.7%+25.4pp	73.3%-2.2pp	75.5%-11.3pp
Net margin	96%+15.0pp	81%+24.8pp	56.2%-6.9pp	63.1%-1.9pp
EBITDA margin	118.9%+16.5pp	102.4%+24.7pp	77.7%-1.6pp	79.3%-9.8pp
Free cash flow margin	80.5%+5.2pp	75.4%+15.0pp	60.3%+52.5pp	7.8%—
Returns
Return on equity	170%+35.5pp	134.5%+45.5pp	89%-27.5pp	116.5%-34.1pp
Return on assets	78%+18.4pp	59.6%+21.6pp	38%-6.2pp	44.2%-1.7pp
Return on invested capital	128.3%+29.6pp	98.7%+31.0pp	67.7%-5.4pp	73%-19.9pp
Efficiency
Asset turnover	3.2×+0.3×	2.9×+0.2×	2.7×-0.1×	2.8×0.0×
Liquidity
Current ratio	5.1×+0.7×	4.4×-0.6×	5×+0.6×	4.4×-0.2×
Quick ratio	5.1×+0.7×	4.4×-0.6×	5×+0.6×	4.4×-0.2×
Cash ratio	3.4×+0.6×	2.8×-0.5×	3.4×+0.4×	3×-0.7×
Leverage
Debt-to-equity	2.7×-0.4×	3.1×0.0×	3.1×-0.4×	3.5×-1.5×
Debt-to-assets	1.3×-0.1×	1.4×0.0×	1.4×-0.1×	1.4×-0.3×
Net debt / EBITDA	2.8×-1.5×	4.3×-1.9×	6.2×-1.0×	7.2×+0.5×
Interest coverage	66.2×+14.2×	52×+17.5×	34.5×+2.4×	32×+0.5×
Per Share
Book value per share	$128.80-17.5%	$156.18+2.4%	$152.52-11.7%	$172.73+35.8%
Valuation
Market capitalization	$1.85T+49.4%	$1.24T+70.4%	$726.81B+51.4%	$479.92B-52.1%
Enterprise value	$1.89T+47.3%	$1.28T+67.1%	$765.65B+46.0%	$524.41B-49.8%
Price / earnings	181.2×+16.6×	164.6×+6.2×	158.4×+60.0×	98.4×-122×
Price / sales	43.5×+10.1×	33.4×+11.1×	22.2×+6.8×	15.5×-20.2×
Price / book	73×+18.8×	54.2×+20.8×	33.4×+8.4×	25×-44.3×
EV / EBITDA	149.1×+14.6×	134.5×+13.9×	120.7×+35.8×	84.8×-82.1×
EV / sales	44.4×+9.9×	34.5×+11.1×	23.4×+6.6×	16.9×-20.3×
Free cash flow yield	7.6%-1.6pp	9.1%-1.6pp	10.8%+8.7pp	2.1%—
Earnings yield	9%-0.7pp	9.7%-0.5pp	10.2%-7.6pp	17.8%+10.5pp
PEG ratio	5×+2.4×	2.6×—	——	——

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about Netflix.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

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.