Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.83B | $11.7B | $15.8B | $20.2B | $25.0B | $29.7B | $31.6B | $33.7B | $39.0B | $45.2B |
| Revenue growth | — | 32.4% | 35.1% | 27.6% | 24.0% | 18.8% | 6.5% | 6.7% | 15.6% | 15.9% |
| Operating income | $380M | $839M | $1.61B | $2.60B | $4.59B | $6.19B | $5.63B | $6.95B | $10.4B | $13.3B |
| Operating margin | 4.3% | 7.2% | 10.2% | 12.9% | 18.3% | 20.9% | 17.8% | 20.6% | 26.7% | 29.5% |
| Net income | $187M | $559M | $1.21B | $1.87B | $2.76B | $5.12B | $4.49B | $5.41B | $8.71B | $11.0B |
| Net margin | 2.1% | 4.8% | 7.7% | 9.3% | 11.0% | 17.2% | 14.2% | 16.0% | 22.3% | 24.3% |
| EPS (diluted) | $0.43 | $1.25 | $2.68 | $4.13 | $6.08 | $11.24 | $9.95 | $1.20 | $1.98 | $2.53 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.47B | -$1.79B | -$2.68B | -$2.89B | $2.43B | $393M | $2.03B | $7.27B | $7.36B | $10.1B |
| Capital expenditures | $108M | $173M | $174M | $253M | $498M | $525M | $408M | $349M | $440M | $688M |
| Free cash flow | -$1.58B | -$1.96B | -$2.85B | -$3.14B | $1.93B | -$132M | $1.62B | $6.93B | $6.92B | $9.46B |
| Share buybacks | — | — | — | $0.00 | $0.00 | $600M | $0.00 | $6.05B | $6.26B | $9.13B |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.47B | $2.82B | $3.79B | $5.02B | $8.21B | $6.03B | $5.15B | $7.12B | $7.80B | $9.03B |
| Total assets | $13.6B | $19.0B | $26.0B | $34.0B | $39.3B | $44.6B | $48.6B | $48.7B | $53.6B | $55.6B |
| Total liabilities | $10.9B | $15.4B | $20.7B | $26.4B | $28.2B | $28.7B | $27.8B | $28.1B | $28.9B | $29.0B |
| Long-term debt | $3.36B | $6.50B | $10.4B | $14.8B | $15.8B | $14.7B | $14.4B | $14.1B | $13.8B | $13.5B |
| Shareholders' equity | $2.68B | $3.58B | $5.24B | $7.58B | $11.1B | $15.8B | $20.8B | $20.6B | $24.7B | $26.6B |
| Retained earnings | $1.13B | $1.73B | $2.94B | $4.81B | $7.57B | $12.7B | $17.2B | $22.6B | $31.3B | $42.3B |
| Shares (wtd avg diluted) | 439M | 447M | 451M | 452M | 454M | 455M | 451M | 4.49B | 4.39B | 4.34B |
Every figure is extracted from NETFLIX INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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